I have seen organizations offer to take payments by depositing money in cash at a specified Bank of America account. AFAIU the idea here is that Bank of America has branches everywhere and hence it’s possible for free (or maybe for small fee, not sure) to deposit money into account belonging to somebody even in a different state. So from the standpoint of the merchant this sounds like a nice irreversible payment, like cold hard cash and unlike Paypal, except it can be done long distance.
Well, hey, great… So I was wondering, how come not everybody is doing things like that? E.g. I know that many programmers overseas have trouble getting money from their American customers transfered to them for cheap. So, wouldn’t it be trivial for a business in America to take payments from clients on their behalf and then reimburse them (let’s say in Romania) for a fee?
Ok, so what’s the straight dope here? What are the downsides of payment via Bank of America deposit?