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Domain Discussion
General Domain Name Discussion
KAU.com on DropCatch
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<blockquote data-quote="amplify" data-source="post: 2320643" data-attributes="member: 130638"><p>This is a strange phenomenon. DropCatch and others should integrate with bank accounts to ensure a user has a certain percent of the liquid funds to purchase something.</p><p></p><p>Most trading platforms are linked to my account to initiate an ECH. I don't know how they can do it, but, if I type in an accidental 0, they immediately halt the transaction because they know the account has insufficient funds as opposed to running it through and it bouncing on me (charging me $35) and going "Whoops, I meant $X, not $X0."</p><p></p><p>It's kind of like Facebook connect, but a lot of banks participate in this now. As much as I'd love immediate transactions to trade right away (some platforms do give provisional credit), all they can do is verify the amount is there and then proceed with the ACH, making you wait until funds settle, that is if the funds are actually there (otherwise they could give you provisional credit to trade on when your 'check' bounces... not so smart for them as that's margin on top of margin).</p><p></p><p>Why don't these auction platforms implement something like this already? It's surely regulated, but not out of the question.</p></blockquote><p></p>
[QUOTE="amplify, post: 2320643, member: 130638"] This is a strange phenomenon. DropCatch and others should integrate with bank accounts to ensure a user has a certain percent of the liquid funds to purchase something. Most trading platforms are linked to my account to initiate an ECH. I don't know how they can do it, but, if I type in an accidental 0, they immediately halt the transaction because they know the account has insufficient funds as opposed to running it through and it bouncing on me (charging me $35) and going "Whoops, I meant $X, not $X0." It's kind of like Facebook connect, but a lot of banks participate in this now. As much as I'd love immediate transactions to trade right away (some platforms do give provisional credit), all they can do is verify the amount is there and then proceed with the ACH, making you wait until funds settle, that is if the funds are actually there (otherwise they could give you provisional credit to trade on when your 'check' bounces... not so smart for them as that's margin on top of margin). Why don't these auction platforms implement something like this already? It's surely regulated, but not out of the question. [/QUOTE]
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KAU.com on DropCatch
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