checkbook.io payments

What is your experience with checkbook.io payments? I recently completed a job thru MarketStat and they pay out thru checkbook.io. I had never heard of checkbook.io, so I started doing some research. I was looking at the checkbook.io website and they list a couple of ways you can get your money: Online Deposit, Mailed Paper Check via USPS, Printed Check from a PDF or Instant Pay to a debit card. I'm not keen on using their Online Deposit since they use Plaid for instant verification. Plaid requires a user to share their bank log in ID and password which seems to me to break a fundamental security rule: Never give your credentials to a third party . Requesting a paper check from them according to their website could take up to 30 days. This is also unappealing since by the time I get the payment invoice from MarketStat, I will have already waited 45 days. I called my bank and they said that they cannot accept a digital check that I print off. So my final option is Instant Pay to my debit card unless I want to wait the additional 30 days.

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I had never used it before, but did a Marketstat assignment a month or so ago. I signed up and put in my information - I linked my bank account and the money went through easily in a couple days.

ath Power currently uses checkook.io and the entire process works flawlessly. I get paid by direct deposit.

Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008

@myst4au wrote:

ath Power currently uses checkook.io and the entire process works flawlessly. I get paid by direct deposit.

So did you provide them with your bank Login ID and Password?

I have shopped for ath Power for well over a decade, and in that time I think that they have used 3 different payment processors. I provided whatever information that was required each time.

@Walters Mom wrote:

@myst4au wrote:

ath Power currently uses checkook.io and the entire process works flawlessly. I get paid by direct deposit.

So did you provide them with your bank Login ID and Password?

Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008

Several MSCs utilize Checkbook. It works, but unlike PayPal, it takes several days for payments to flow to your bank once the MSC instructs Checkbook to make the payment.

In fairness, it takes PayPal 1 to 3 business days to move funds into my checking account unless I pay a 1% fee for an "instant" transfer.

@Rousseau wrote:

Several MSCs utilize Checkbook. It works, but unlike PayPal, it takes several days for payments to flow to your bank once the MSC instructs Checkbook to make the payment.

Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008

I'm not questioning weather it works. I'm questioning the information they want to collect from you. PayPal requires your routing and account number. Checkbook wants your internet banking login ID and Password which would give them (or a hacker for that matter) access to ALL of your accounts that are with that bank not just the ONE account where you want your money deposited. I have a job this week to open a new account, so maybe I'll see if I can keep it and use it for Checkbook payments.

@myst4au wrote:

In fairness, it takes PayPal 1 to 3 business days to move funds into my checking account unless I pay a 1% fee for an "instant" transfer.
@Rousseau wrote:

Several MSCs utilize Checkbook. It works, but unlike PayPal, it takes several days for payments to flow to your bank once the MSC instructs Checkbook to make the payment.

My point is that with Checkbook, one must wait to be able to use the funds. With PayPal, one does not need to wait. There is no need to make transfers to an external account. One can immediately transfer the funds to other parties, make online purchases, use a PayPal debit card at merchants, and withdraw funds through an ATM all without transfering to an external account.

In my experience, the paper check doesn't take anywhere near 30 days.

I just received an email that Service With Style had sent me a digital check. I do not like change, and i certainly take a dim view of these "third party" middlemen who seem to be too involved in my financial business. This was my first--and, very likely--my last interaction with checkbook.io. By the time I got through with text message security codes, and far too many screens for such a "quick and easy" approach to payments, I'm quite sure that my payment is lost in the Great Beyond. To top it off, it advised of a 2-3 day wait window. Lesson learned. Next time, I'll opt for the paper check to be mailed to me.

Good to know. Its still going to be a while b4 I get my payment email notice.

@Walters Mom ... FYI, the payment posted to my bank account today. I still doubt that I'll willingly conduct another shop if this payment method is used. It simply isn't worth the aggravation to me. That's my opinion; this may be perfectly acceptable for other shoppers.

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