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League Fees-What are thoughts on LeagueSafe, other options? (1 Viewer)

kmarsh802002

Footballguy
I am commissioner of a long running dynasty. I have always handled the finances myself but it can get cumbersome reaching out to managers for $ or handling it all myself. 

The reason I have not moved to LeagueSafe is they seem to charge fees for getting your winnings out. That is how I read it on the website, but I don't remember paying a fee on my 1 LeagueSafe league this year.

Can any LeagueSafe users confirm, are there fees to remove your winnings on LeagueSafe unless you take a gift card? Any stronger options?  I totally get if someone is trying to pay fees with a Credit Card and paying a fee for that, I thought bank to site and site to bank should be free.

 
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Dacomish

Footballguy
We have used it in my dynasty league for going on our 3rd year and yes there are some fees associated. As a commish I like that it's a quick payout (last 2 years was a few days after Christmas) and it all is self contained.

From the site:

Paying in:

E-check only: All owners can make free payments via E-check (an electronic transfer from their bank account).

Credit/Debit or E-check: Owners can pay via credit or debit card, or via e-check (electronic bank transfer). A 4% processing feeapplies to all payment options with this option selected.

And of course if you have any funds already in your account (from winnings) you can apply free. 

For withdrawing funds:

What are my payout options:

LeagueSafe offers Members a variety of methods for the payout of funds.  The costs associated with each of these options are outlined below...

Virtual Visa Prepaid Card (Tango Card)

Winners get a prepaid Visa card through Tango prepaid cards

Claim code is delivered in an email from Tango

Once you click the redeemable link it directs you to Tango's website where you can choose to receive a physical card mailed to you (at a cost of $3.00), or a virtual card to use online (that is free)

Once this transaction is processed and the funds leave the Fanball Wallet system, we cannot do anything to change, alter or help with the prepaid cards

You can contact the Tango prepaid card customer service by the following methods.

Phone Monday — Friday

7:30am — 5:00pm PT

1 (877) 558-2646

(Messages will be answered in one business day)

Email Customer Service: cs@tangocard.com

Gift Card Option (also administered through Tango)

Much like the prepaid Visa, users get a claim code to select a gift card via an email

Click the claim code and are sent to Tango’s website where they can select one of dozens of gift cards (Amazon, Best Buy, etc.)

Again, we can’t help with funds once they leave the system. Tango's customer support (listed above) is your best option.

Printable E-Check (Deluxe) COST $3.00

This is a paper check that a user can print from their own printer

The delivery of said check comes in the form of an email from the Deluxe corporation

The check is written out in US currency

User receives a file and can print and cash the check at most banks

Be aware that there are a handful of US banks that won’t accept these checks

Paper Check (in the mail) COST $4.00

This is a paper check that is delivered via the US Postal Service

Paper checks are processed on the next business day (if you make a paper check withdrawal on Friday, it will mail out on Monday).

It usually takes about 7 days for a paper check to reach a member in the US

It normally takes an extra week to reach Canadian members

We do not have the ability to track the whereabouts of mailed paper checks

Electronic Transfer (ACH) COST $5.00

This is an electronic transfer to a US bank account, these transactions cannot be performed internationally

It usually takes 4-5 days for the transfer to complete

This payout method is only available to members who only use LeagueSafe

Hint: if you use Fanball, CDM or NFC you can receive ZERO FEE WITHDRAWALS FOR LIFE.

I live in the UK so had to contact customer service and they sent me a paper check and it cost me $4. 

Hope this helps. 

 

Ben & Jerry's

Footballguy
I've gotten the "free" virtual Visa card and immediately used it as a payment on a bill that accepts Visa. Works great. The key is applying it somewhere right away and being done with it. 

 

dehaven123

Footballguy
Leaguesafe is good just one small gripe I have is that the mobile site doesn’t allow all the functionality that the actual site does. For example: as a commish you cannot set up payouts from your phone

 

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