Foo - Serve Account from AmEx
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10-22-12, 08:54 PM
This is similar to a PayPal account, but with less fees.
Anyone here have one yet, and what are your thoughts ?
10-22-12, 09:10 PM
Interesting, but a cash back credit card works a lot better. This one you prepay and with the credit cards you get up to 5 weeks after purchase to pay.
The cash withdrawal fee seems steep.
Use it to get cash at an ATM and Serve will waive its $2 fee for your first withdrawal each month.
Fewer fees than Paypal? AMEX has the highest fees of all the cards and why some merchants exclude them. You pre-load the the Serve card and is "accepted anywhere AMEX is accepted." You may not see the fees, but the business accepting it will and may prefer that you use Viisa/MC/Disc which they also accept. While you can receive money into the Serve account, on quick review didn't see what the fees were, and that is the critical factor in a small business setting up to accept payment through Paypal, Serve, or Visa/MS/Disc middle manage clearing firm and card scanning that can be done in the field on an iPhone.
10-23-12, 06:50 AM
Perhaps I should have been more specific .
I'm taking about using this strictly for money transfer, and then moving that money into a bank account. (supposedly, no fee for these transactions.)
I never withdraw money from ATM's, nor do I have a credit card attached to my PayPal account, so I wouldn't be using this for those things either.
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