Want to make or receive payments online? I know you’ll have heard of PayPal but far fewer people have heard of AlertPay and there are loads of people who are still tryna figure out if it’s a scam or not. That’s fair enough as they will be taking in your money so you want to be sure they actually pay you!
This service didn’t take long to vet and I safely say that it is not a scam. Why am I so confident that there isn’t a complex Bernie Madooff scam associated with it? Because:
- I tried it out. I successfully received payment and withdraw the funds to my bank account
- It was founded in 2004, has over 100 employees in both Canada and India and serves over 5 million members
- They are used by a ton of big, respectable companies
- They are insured by Canada Deposit Insurance Corporation and Federal Deposit Insurance Corporation in Canada and US
“So What?! Why Don’t I Just Continue Using PayPal?”
You can continue using PayPal if everything has been going well for you with them. I will most certainly keep using PayPal as my primary payment processor out of convienience as it’s accepted in many more places than AlertPay. However, AltertPay does have a few advantages that are worth mentioning:
- Some countries don’t allow you to open a PayPal account and that’s when AltertPay becomes the next best thing
- PayPal haven’t got good customer service, based off my many experiences with them
- AlertPay undercuts PayPal when receiving money. The standard cost for most industries is 2.50 % + £0.25 GBP . PayPal’s is 3.40% + £0.20 GBP (covert GBP to whatever country you’re in e.g. USD)
However, a big disadvantage is the cost of withdrawing money:
- PayPal’s standard withdrawal to your bank account is free whereas AlertPay charge £2.25 when withdrawing to your bank. Annoying!
AlertPay is a legit company but it only really makes sense to use them if you can’t open a PayPal account where you are.
Here’s where AlertPay ranks on our legitimacy chart: