anybody have experience using P2P sending/receiving payment for goods?

[frenchy]

as some of you know recently paypal announced it will be reporting to the taxman if you receive anything over 20K.
this prompted me to ask buyers to pay via MO for larger ticket items,so far only one person didnt feel comfortable doing that.
Recently a buyer from europe asked why i didnt simply ask him to send him a P2P payment,a person to person online bank payment.
i simply gave him my email and it was in my bank account the same minute,no waiting for transfers to the bank or molesting calls from paypal asking me stupid questions why im withdrawing money...HELLO ITS MY MONEY **** OFFF!!!!!!!!!

anyway One major issue some people have is that that the sender must have the bank account number of the recipient.(some banks not all) The account number, routing number, name and email address must be entered by the sender.some people would not feel comfortable in providing their account number unless the person is a close friend or family member.
but remember every time they wrote a check in the past, they were disclosing their account number, even if they didn't realize it. It's at the bottom of the check. Plus, unlike a paper check that touches many hands before being deposited, a Person2Person Payment is a secure, direct transfer between you and your friend/buyer.

also you can avoid the dreaded fees and exchange rates (paypal is always lower then the banks)...yes there is a (usually) a small fee to send money ($2 in my case) but its usually up to a certain amount ($1000 in my case) so you are still better off then using the paypal method.
another issue some might have with this method is that they are not protected as they would be with paypal,well if you send a personal payment ( a lot of people ask for this,or will start asking to prevent report to the taxman ),well guess what if you send a personal payment you are not protected anyway.

i just wanna get people talking that there are better ways to do transactions,paypal is a middleman...lets cut him out.
if you are a seller you definitely should look into this and if you are just a buyer you should as well,why give money to paypal when you dont have to

 

[passingtime]

I use this with my UK account for pay bills in the UK. It's trivially easy to do once you have the sort code and account number. I have no concerns with giving people that information because the bank covers me in the event of fraud. I actually prefer this approach because the money is provably delivered into their account so there is no dispute about if it has arrived, likewise money I receive.

One of the things that amazed me when I moved to the US was just how primitive online banking is here, well with Citi anyway.