Ribbon (similar to Venmo)
#1
Original Poster
Join Date: Nov 2012
Posts: 108
Ribbon (similar to Venmo)
Hey guys,
Has anyone used Ribbon (https://ribbon.co) I recently got an invite, and it seems like a Venmo-ish product. From their FAQs:
What is Ribbon?
Ribbon is a simple way for friends to send and receive money using debit and credit cards.
How much does Ribbon cost?
It’s always free to receive money. It’s free to send money using Ribbon as long as you’re using a debit card. If you’re using a credit card, there’s a 3% fee per transaction.
I have successfully added my bank account there, and looks like you can easily move cash out from the account to the bank. Don't have a PIN activated gift card that I can use right now, but I will try it out ASAP when I can. In the meanwhile, I'll test it out with a CC as well, although the 3% fee is a deal killer. Obviously this will need an A -> B -> A transaction like AP. They don't mention any monthly/daily limits.
Anyway, thoughts? Experience?
Has anyone used Ribbon (https://ribbon.co) I recently got an invite, and it seems like a Venmo-ish product. From their FAQs:
What is Ribbon?
Ribbon is a simple way for friends to send and receive money using debit and credit cards.
How much does Ribbon cost?
It’s always free to receive money. It’s free to send money using Ribbon as long as you’re using a debit card. If you’re using a credit card, there’s a 3% fee per transaction.
I have successfully added my bank account there, and looks like you can easily move cash out from the account to the bank. Don't have a PIN activated gift card that I can use right now, but I will try it out ASAP when I can. In the meanwhile, I'll test it out with a CC as well, although the 3% fee is a deal killer. Obviously this will need an A -> B -> A transaction like AP. They don't mention any monthly/daily limits.
Anyway, thoughts? Experience?
Last edited by tcook052; Mar 10, 2014 at 10:59 am Reason: remove referral link
#2
Join Date: Dec 2013
Location: PHL
Posts: 94
Used your ref to at least sign-up for the waiting list for now and keep an eye out for how this develops. I have one $200 Visa GC sitting here that I couldn't load with Kate today (max reached on 2 BBs). Would have been nice to give it a shot right now. Alas, I shall wait.
Last edited by tcook052; Mar 10, 2014 at 11:00 am Reason: remove referral link
#5
Original Poster
Join Date: Nov 2012
Posts: 108
P.S. I'm waiting for my friend to get the invite so that I can test the system out. Hopefully any day now.
#6
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 9,958
I can confirm their ranking is true. After signing up, I actually went back to check my "status in line" using the link they gave me when I signed up. Says I'm in Group 3? ...!
P.S. I'm waiting for my friend to get the invite so that I can test the system out. Hopefully any day now.
P.S. I'm waiting for my friend to get the invite so that I can test the system out. Hopefully any day now.
Group 1 is where you want to get.
#9
Join Date: Jul 2012
Location: SF Bay Area
Programs: Hyatt, SPG, Hilton, AA, UA
Posts: 76
Well, I just referred a bunch of alternative email aliases and got an invite relatively quickly. Hotmail has a nice email alias feature if you're looking for one...
I cleared a $20 test gift card within a couple of days. I'm now sitting on a $500 gift card "send money" transaction (deposit to bank account on the other end) that's a couple of business days in. They say 3-5 business days so no worry yet. I've heard others say they sat in purgatory for ages on larger transfers though, and had to eventually resort to email. We'll see. Not sure this is going to work out for moving a lot of money...
I cleared a $20 test gift card within a couple of days. I'm now sitting on a $500 gift card "send money" transaction (deposit to bank account on the other end) that's a couple of business days in. They say 3-5 business days so no worry yet. I've heard others say they sat in purgatory for ages on larger transfers though, and had to eventually resort to email. We'll see. Not sure this is going to work out for moving a lot of money...
#12
Join Date: Feb 2013
Location: PHL
Programs: UA, DL, AA, ANA
Posts: 226
Was able to test this out today. Gift cards (visa and MC), buxx, gobank, emerald... etc were all hard coded as reject (like a square is now) after the first 6 digits of the card number. Looks like I am stuck with Kate.
http://imgur.com/kZFGjym
http://imgur.com/kZFGjym
#13
Join Date: Oct 2013
Location: WAS
Programs: SPG Plat. Marriott Plat. Hilton Diamond. Hyatt Diamond. IHG Plat.
Posts: 2,580
Was able to test this out today. Gift cards (visa and MC), buxx, gobank, emerald... etc were all hard coded as reject (like a square is now) after the first 6 digits of the card number. Looks like I am stuck with Kate.
http://imgur.com/kZFGjym
http://imgur.com/kZFGjym