This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

7 Great Alternatives to PayPal

NEW YORK ( MainStreet) -- For more than a decade, PayPal has been virtually synonymous with online payments. The service has 106 million active users and can be used to make purchases at thousands of online merchants. The sheer volume of PayPal users also means that it's often the go-to method of cash-free person-to-person (P2P) payments.

There's just one problem: A lot of people really hate it.
If you're among the PayPal haters, there are alternatives to consider.

The company has found itself at the center of numerous controversies over the years, with some users going public with complaints over frozen accounts and poor customer service. There was, for instance, the incident during the holiday season in which a charitable Secret Santa campaign run by the blog Regretsy was derailed when the company forced the blog to refund hundreds of contributions. (PayPal ultimately relented in the face of widespread media coverage.) Another recent incident involved a dispute over the authenticity of a violin sold over the Internet using PayPal, which ended with the company telling the buyer to destroy the violin.

Given the millions of active PayPal users, it's clear these customer service incidents affect a very small minority of customers and merchants, and most are perfectly happy with its free and easy P2P services. But those who don't like PayPal have plenty of alternatives.

>>Should You Pay for Credit Repair?

While PayPal is pretty firmly established among online merchants, there are plenty of competitors on the P2P side of the equation. One is Serve, which allows you to send money for free to friends who also have Serve accounts. It can be accessed online or via smartphone apps.

Signing up is free, and once you have an account you can add money by linking it to a checking account, using a credit card or adding cash via MoneyPak. Adding funds directly from your checking account is free; using a credit card will cost 2.9% of the amount transferred plus an additional 30 cents (starting June 1); and MoneyPak transfers cost up to $4.95 each (though Serve will refund you that amount the first time you use a MoneyPak).

Signing up also comes with a couple of perks. You'll get a prepaid card that can be used wherever MasterCard (MA - Get Report) is accepted, and it can also be used as an ATM card; the first withdrawal of the month is free, and $2 is charged per withdrawal after that (fees by the ATM owner will also apply). And most importantly, if you sign up for an account by March 31 you'll get a $10 credit.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AMZN $659.59 0.00%
GOOG $693.01 0.00%
JPM $63.20 0.00%
MA $96.99 0.00%
AAPL $93.74 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs