An e-commerce business allowing payments and money transfers to be made through the Internet.
When sending money using AlertPay a purchase can be funded from an existing AlertPay balance or using a credit card. When receiving money, all funds received are added to your AlertPay account balance.
Methods for depositing funds into an AlertPay account include bank wire, by linking a bank account (ACH) or by money order or certified check. Methods from withdrawing funds from an AlertPay account include bank wire, an ACH transfer to a bank account, check or as funds added to your credit card.
There are no fees when sending money. The fee subtracted when money is received will vary based on the account type.
Funds received through AlertPay can potentially be put at risk if the buyer requests a chargeback. AlertPay's policy is to close the account for any account holders who issue a chargeback.
AlertPay holds balances that might be at risk. The agreement states:
- If you do hold a balance in your account, AlertPay will keep your funds separate from its corporate funds and will not use your funds for its operating expenses or any other corporate purposes..
There is no mention if these funds are CDIC (Canadian) insured, FDIC (U.S.) insured, or any other indication of how or where these funds are held.