Wednesday, August 13, 2008

UPDATE: Revolution Money Exchange

Part of my plan on paying down debt was to transfer the money that my wife and I have made on referrals and opening our account at Revolution Money Exchange. As I mentioned about 2 weeks ago, my account was locked for fraud protection, and I couldn’t get anybody on the phone to see what was happening. Fortunately, 15 minutes later, my account was unlocked. The result, however, was that the funds never transferred. So, on August 1st, I requested another transfer of $50 to my verified bank account. The process is supposed to take 2-3 business days, and so I attempted to contact them again to see what was happening yesterday. I found out that there was no problem with the transfer, so it had to be something internal, but the finance department had already closed, so I would have to make the call today to find out.
I did so, and after about 10 minutes of being on the phone and on hold, we got the situation worked out. They informed me that it would take about 5 hours for the funds to show up in my account. However, to this point, no funds have hit my account, so I’ll be calling them again tomorrow morning.
As with any new system, there will be hiccups. I completely understand that. Two weeks ago, I got an answering machine. Yesterday and today, I got very courteous customer service reps who were able to assist me in a timely manner, and, when necessary, explain the direction I would need to take when they couldn’t resolve the issue. I am somewhat leery of trying a new system, but Revolution Money Exchange seems to be a decent alternative to PayPal, provided they actually transfer the money.
Also, I have yet to receive my MoneyExchange card, which will allow me to use the funds in my account as a debit transaction at several stores, including CVS and Walgreens, which is something that I don’t believe PayPal does… And I get a $10 bonus every time somebody signs up for the service (however, you no longer get the $25 bonus for signing up... :-()
As soon as they’ve completed the bank transfer, and I’ve had a chance to try out the “debit card” part of the system, I’ll report back, but so far, I’m impressed with the courtesy of their customer service reps, and that’s refreshing, even if I have to deal with the occasional bump.

UPDATE 8/14/08 7:15am: The account updated this morning. And that, honestly, could be the way that Wells Fargo handles the transaction, vs. Revolution Money Exchange. So hopefully the next transfer I request will happen in a more reasonable timeframe. I really can't complain too much, though, since this is all referral and sign-up money... :-)


  1. You do realize that the $25 sign up promotion has expired, but the $10 referral bonus is still in place.

  2. I didn't realize that... Thanks for the heads up!