[Written on June 10, 2009. Last modified on June 18, 2009]
About using RME [short for Revolution Money Exchange]
RME [short for Revolution Money Exchange] does not charge fees to receive money. RME has a debit card [RME calls it a "MoneyExchange RevolutionCard"] where you can withdraw money from an ATM machine. There are no fees associated with use of RME, other than if you ask them to mail you a monthly paper statement or if you opt to receive a check in the mail instead of withdrawing money via debit card or transferring to a bank account.
RME is a nice Paypal alternative and comes the closest to being "paypal like" but there are limitations with RME. RME is currently available for only USA customers to use. Also with RME, you cannot receive more than $2,500 a month. Does not matter what the money is for. You are only allowed to receive $2,500 through RME each month. This applies to all RME users. Even small businesses. The reason RME gives as to why the such small limit is to curb fraud.
So if you want to use RME with Abundant Living System, keep in mind that you would only be able to receive gifts up to $2,500 a month through RME. It would be better to use it receive only the smaller gifts of $75, $150, $250, $500. In addition to spreading the word on the Abundant Living System, you can also spread the word on Revolution Money Exchange. I never had a problem with RME. I prefer RME over Paypal.
I've heard conflicting things about RME's referral program. I know up until sometime last year, RME would give you $25 for every person you refer to RME and the person who would open an RME account would receive $10 just for opening an account.
RME still has a referral program [from what I hear], except you receive $10 for every person you refer. Also with the RME debit card, every $20 you spend with it, you get $5 back. Very generous compared to Paypal's debit card cash program. And speaking of Paypal, I've heard rumors that Paypal plans to end their debit card cash program by the end of this year. I don't know if it's true or not, but I thought I would pass that bit along. I cannot personally vouch for RME's referral program or debit card, as I haven't used their debit card yet. I will let you know when I do.
Here is more information about using Revolution Money Exchange. This
is straight from their FAQ page:
Q. Can I send or receive money internationally?
A. At this time, money cannot be sent or received internationally. You
must be a U.S. resident to register for MoneyExchange. In addition, your
MoneyExchange account can only be linked to a U.S. bank account at this
time. If you are interested in sending or receiving money internationally
and would like to have MoneyExchange add this option, please let us know
by filling out the form on the Contact Us page.
Q. Are there any limits on the amount of money I can receive?
A. You can receive a maximum of $1,000 per day, not to exceed $2,500
per calendar month.
Q. Is there a maximum amount I can have in my account?
A. Yes, your aggregate account balance cannot exceed $2,500 at any time.
Q. Are there any limits on the amount of money I can withdraw from my account?
A. Yes. The maximum amount you can withdraw from your MoneyExchange account with your Card is $1,000 per day and $2,500 per month, subject to your funds availability.
You can use your MoneyExchange Card to withdraw funds at an ATM a maximum of three (3) times per day, and the maximum amount that can be withdrawn from an ATM with your MoneyExchange Card is five hundred dollars ($500) per day. You can conduct a maximum of fifteen (15) transactions with your MoneyExchange Card per day; these transactions can be all purchases or a combination of purchases and cash withdrawals at ATM withdrawals. ATM withdrawals remain subject to the ATM limitations set forth in this section.