Registered: Oct 2000
Location: San Francisco, California
Sending money by e-mail !
Yep, that's right...
some background.
It's sunday may 4th, 6PM.. We have to pay $915 for rent. If we don't pay today, we get evicted(we've been paying late toooo many times already and they warned us). There is 4 of us living in the house, everybody(except me) has enough money to pay the whole $915, but nobody except me has any cheques left. We can't make a money order either cause it's sunday which means that all banks and post offices are already closed.. And to make matters worse, we can't pay by cash either.
what to do??
Well, as it turns out, if you have an account at a Canadian bank, you can send money to anyone who has an account at a Canadian bank instantaneously by e-mail! How cool is that! Time-consuming money orders and cheques are pretty much obsolete now!
So everybody in my household simply sent me enough money, and I wrote a cheque for the required sum. Problem solved !
Long live internet and cool new technologies that make our lives SOOO much easier !!!
...especially if you knew about that like 6 months ago when they first introduced it and weren't charging any service fees as they do now... but hey, nothing's free these days, not even money by e-mail services.
Originally posted by fantom
Well isn't that just amazing...
...especially if you knew about that like 6 months ago when they first introduced it and weren't charging any service fees as they do now... but hey, nothing's free these days, not even money by e-mail services.
Ding ding ding. I work at Easyline for Td/Ct...Iliya, you should have known you could do that! It DOES make things easier. I love how it is instantaneous. (except with Royal Bank...takes 2 business days or so...bah!)
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Und ich tanz einfach weiter...
May-05-2003 02:57
Durafei
the crazy russian
Registered: Oct 2000
Location: San Francisco, California
Service fee is very little. Like $2.5 or some shit.. I consider my time a lot more valuable !
Registered: Oct 2000
Location: San Francisco, California
quote:
Originally posted by Endlesswave
Ding ding ding. I work at Easyline for Td/Ct...Iliya, you should have known you could do that! It DOES make things easier. I love how it is instantaneous. (except with Royal Bank...takes 2 business days or so...bah!)
Hm.. maybe you can tell some other cool features then ?? Anything else I should know about? I'm at TD by the way.
wow. Um.. this system is very susceptible to exploits.. I mean.. say some moron assigned his bank account to this certain e-mail address that is authorized to do such transactions... and some guy hacked it and sent all the money to his own account. It can be very difficult to verify whether it was the account holder who actually authorized this transaction...
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My greatest accomplishment in life is that I've lived this long.
May-05-2003 03:31
Rocco
PierreM
Registered: Mar 2003
Location: Toronto, Canada
quote:
Originally posted by psychosomatica
wow. Um.. this system is very susceptible to exploits.. I mean.. say some moron assigned his bank account to this certain e-mail address that is authorized to do such transactions... and some guy hacked it and sent all the money to his own account. It can be very difficult to verify whether it was the account holder who actually authorized this transaction...
i dunno.. i'm assuming that if they have a feature like that on the market for consumers like you and i, they would take the liberty of making it more secure so more customers can use it and so they (banks and consumer) prosper.
then again, no system is built to be 100% secure... but i don't doubt that they have a decent system in to fight such issues... like maybe a team of net security hawks who kinda know how all this stuff works... i dunno. I'm old school: cash paid infront of a friend in the person's own hand.
It's all done through Certapay as far as I know. Each bank just has to "sign up" for it and then it's done. Basically the security issue is through asking a security question that only the person on the other end of the email can answer and if given the correct answer and account number (through the email) then it checks everything and sends the transfer though...(I think).
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Und ich tanz einfach weiter...
May-05-2003 05:31
Rocco
PierreM
Registered: Mar 2003
Location: Toronto, Canada
hmmmm "interesting"
i wouldn't use it for everyday transactions.. call me paranoid but i've seen what some of those computer guys @ engieneering could do. Give a kid who has a 150 IQ a linux and tons of chocolate and ur amazed of what things he/she can do in matter of hours.
Pierre's rule of thumb: TRUST NO ONE
DJRocco's rule of thumb: IN TRANCE WE TRUST
Registered: Oct 2000
Location: San Francisco, California
quote:
Originally posted by DJRocco
hmmmm "interesting"
i wouldn't use it for everyday transactions.. call me paranoid but i've seen what some of those computer guys @ engieneering could do. Give a kid who has a 150 IQ a linux and tons of chocolate and ur amazed of what things he/she can do in matter of hours.
Pierre's rule of thumb: TRUST NO ONE
DJRocco's rule of thumb: IN TRANCE WE TRUST
hehehe
Believe it or not, but paying by visa at your favourite store is a lot LESS secure than paying by visa on the internet.. Keep that in mind before being paranoid about money transactions online.
Originally posted by Durafei
Believe it or not, but paying by visa at your favourite store is a lot LESS secure than paying by visa on the internet.. Keep that in mind before being paranoid about money transactions online.
ok u raised a pretty darn good point that didn't cross my mind.
screw it, if i get robbed, i get robbed. whether i get mugged in real life or digitally, doesn't matter. i will loose money either way. at least digitally u can some what track them down if it was a really large sum of money.. real life, good luck
