Revolutionary Money Exchange

I heard about this way to receive and send money through Revolutionary Money Exhange. Many Etsy sellers have joined and it was all the rage in the forums so I decided to check it out. RME is giving away 25$ to all who sign up before May 15.

I did a little research online first and came up with this info:

1. Some people have signed up with no problems while others have gotten "error" messages. Upon contacting the company, they have stated that their volume has increased and they are playing "catch up" with the demand.

2.While signing up many people have been asked to provide different information. Some have been asked to supply a phone or light bill, copy of a drivers license or social security number.
Upon further review of this, I found that RME issues accounts the same as a "brick and mortar" bank does and requires that you "prove" your identity before they issue and account.

3. Unlike Paypal, you do not have to include your bank account information if you choose not to. But, even if you do include your bank account, RME does not pull from that account to cover purchases that exceed your RME account balance.

I've included their schedule of fees:
Transaction Description Fee Register for an Account FREE
Add Money Electronically from Bank Account FREE
Send Money FREE Receive Money FREE
Request Money FREE
Withdraw Money Electronically to Bank Account FREE
Withdraw Money by Check $2.50 per check
Paper Statement $5.00 per statement
Returned ACH Fee $35.00 per returned
ACH Overdraft Fee $35.00 per overdraft
Stop Payment on a Check $20.00 per check

4. Make sure to "Opt Out" on their privacy form. They don't offer this option online (wonder why?) but you can mail in the form. Here's the link:
https://www.revolutionmoneyexchange.com/WebSite/PrivacyPolicy.aspx

5. You will receive a 1099 for the 25$ to file with your taxes. (nothings REALLY free in this world)

Overall, I signed up to test it out and see if this was something that I would like to offer my buyers. I filled out the online form and then was told that I would receive and email telling me if I was approved. (I thought strange) Needless to say, I received the email and followed the login process and that was that, the 25$ was added to my balance. I am offering RME as a form of payment in my etsy shop, but I will use it wisely and encourage others to do the same.

If after reading this, you Still want to try it out, click here: