Originally Posted by kidsparkle
It only cost you $40 to cash out from UMW? I just got a wire from them (Quicktender) and it cost me $50 total. The $30 flat fee, $10 wire fee from my bank and another $10 mystery fee from the "correspondent bank". I wrote to them many times and still have not got to the bottom of where the missing $10 went. They just play dumb. The amount i recieved was not the amount they sent. I know its only $10 but it was a hidden charge that i wasnt aware of. I think this is the same company as Ecocard just under a different name. I'm not dealing with them anymore, too shady. Jip-artists.
From the QuickTender website...
Fee Schedule for QuickTender Account Holders:
# Service Fees *
1. Registration Fee Free
2. Credit Card Deposits 5%
3. Withdrawals to Bank Account or Check via regular mail $30 flat fee***
4. International bank wire deposits Free **
5. Payment to an online merchant Free
* All fees are subtracted in US Dollars; Fee Schedule for any QuickTender account denominated in another currency is calculated in accordance with the current date exchange rate.
** Subject to any fees and charges as imposed by any third-party being an intermediary between QuickTender Account Holder and QuickTender Payment System
*** Subject to correspondent bank fees and charges for international transfers
...I think QuickTender is OK as long as your withdrawals are large enough to make the $30-$50 fee less important. I think the $10 hidden fee you mention really is some 3rd party fee that gets charged to you on the way from them to your bank. Probably another bank. They probably have to go through some kind of processor beyond themselves to make the transactions possible with minimum chance of being tracked down by the Feds. I think the same thing happened to me with a withdrawal from another company, not QuickTender. I withdrew to my bank account, the company used wire transfer as the method, then I saw that what I received was about $10 less than what I withdrew, and my bank charged a fee as well. Oh well, some day there will be a Neteller-like service for us and we'll all be happy again.