What Do You Guys Think Of A Feature To "LOCK" Your Funds?

hitmeasap Level X⁵

July 3, 2016, 8:39 pm

17

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What Do You Guys Think Of A Feature To "LOCK" Your Funds?

Hello SEOClerks users,
I know that some people are like me, or like my old self.
People who requests withdrawals each and every time they can, as fast as they can, and spends those funds on whatever things they can find.. Even though they might not want to, or need to at that specific time. But they do it because they can.

I was like that. I still am, in some ways. I often withdraw tiny amounts of cash which I spend on the most recent things I find. And because of that, I would personally love to see a feature where I could actually "lock" my funds. Kind of like a "savings account".

I can't tell how this would work, but I would love to have an option so I could choose the amount I would like to withdraw, and not the whole amount. And also to set the minimum amount I can withdraw. It would certainly help me to manage my funds.

Thoughts on this?

Best Regards,
hitmeasap

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TommyCarey

TommyCarey

I highly doubt this would ever happen because I'm sure that the owners of SeoClerks don't want to be seen as a banking system. Locking your funds or adding them to a type of savings account would mean that SeoClerks would have to pay taxes on all of that at the end of the year since it's technically still in their business account. This might work well with platforms like paypal where they most certainly get a tax break, but SeoClerks is still fairly small compared to those large banking sites and can't afford to hold everyones money for that long.

I myself would like something that is almost the complete opposite of locking my funds. I'd prefer an auto deposit of my funds into my paypal account so that I don't have to come here and withdraw when I wanted to. If I could set my threshold at $100 and it would auto deposit when it hit that mark, I'd be happy

I actually think this would be a great feature because people could set it at whatever they want, a max should be $500, and they could get it deposited automatically into their accounts whenever they hit that mark. It would be nice, if this feature was added, to have an option to keep $XXX in the account after the threshold was hit. So let's say I have it set to auto deposit at $500 but I want to keep money in the account in order to buy stuff. I can set the "keeper funds" at $100 so when I hit $500 I would get $400 deposited into my account and the $100 would stay there.

9 years ago

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hitmeasap

hitmeasap

Just to clarify, I don't mean a savings account, like in a bank. What I mean is literally "two separate balances", one that you can use when you want to buy or withdraw whatever amount you'd like. And another one that you can set your own withdrawal limits on. Maximum or minimum amount to withdraw. And that one should be "locked" in that sense that you won't be able to do anything with these funds until you hit that minimum amount you've set it to yourself. If you for any reason would like to "unlock" the account, you should be required to contact the support so they could unlock it. That way, there'll be even more security for your account.

Also, this shouldn't be mandatory. This should be totally optional for users.

That being said, the option for auto withdrawals upon a certain balance would also work. I didn't think of that at all.

9 years ago

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Lynne

Lynne

Yes that sounds like a nice option to add. I think I would like that. I have often got myself into messes, I love spending... and quite frankly I do too much of it!

9 years ago

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Lynne

Lynne

Yes I agree Razzy, that would a great feature to add. I would also love to make a setting where it would automatically payout to Paypal either at certain times (weekly or monthly) or when there is a certain amount of money.

And yes a "keeper funds" account would also be excellent! I like to buy things too, so it would always be nice to have a balance for purchases.

9 years ago

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CryptoGuru

CryptoGuru

I think we should use 2 factor authentication every time we withdraw, what is 2 factor authentication?

"Two Factor Authentication, also known as 2FA. Is two step verification Process. This extra layer of security that is Also known as "multi factor authentication" that requires a password, username, but also something that only that user has on them. You could use a USB Device or a phone, Text, ETC."

I use it on a few other sites and it probably the most secure way. As for making a "Savings Account" Seoclerks is secure but the best place to keep your money is on your physical person.

9 years ago

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Lynne

Lynne

The cash under the mattress option?

I do agree with you on the Two Factor Authentication, that would make me feel a bit more secure with payments.

9 years ago

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Everett

Everett

What about users with no mobile, or house phone? How would they withdraw their earnings? Users from poor countries most likely wouldn't have a mobile phone, or house phone. Their earnings would be locked into their account, and it would cause havoc for the support team.

You could implement such a feature, however hopefully it'll be a feature which you could enable or disable at your own will. Now, the USB drive is an odd one, a lot of people do have access to cheap USB drives.

9 years ago

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EliteWriter

EliteWriter

Personally I prefer to save up a certain amount before withdrawing funds. That keeps me motivated too. I am not sure if the custom withdrawal is possible because I never tried inputting an amount in between of the min and max that is stated in the withdrawal pop up. I always leave it at a max, but probably you could input a certain amount within the range?

Regarding the lock feature I would agree if it could increase the safety of the cash that there is in our balance. That is something that I worry about in case of hacking.

9 years ago

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ajlancer

ajlancer

Hi hitmeasap thanks for your suggestion for a new feature like lock balance. Previously I also talk with Jordan almost similar issue. You may know I have 2 permanent featured and it is need $750 for each month and for preserving whole amount for featured renew, I had used official SEOclerks gift card and balance has distinguishes. I mean one balancer for withdraw and another balance for non withdraw. Once gift card system had closed by SEOclerks, I inform to Jordan about my issue and he said, he may active negative balance system for me. I do not know how it will work? And lock payment aslo may work as like SEOclerks previous gift card system. But, different is, you can withdraw after a certain period. It should good Idea. User will get ability to detach amount two ways. One for preserve for certain period and another for anytime used.
So, I agree with you. Lock funds may good for user who want to preserve amount for certain period as saving account.

Regards by Ajlancer

9 years ago

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hitmeasap

hitmeasap

Hey jkeyz,
Perhaps I should have explained this better. What I'm looking for is a feature that will benefit me in two ways. Actually three in case this entire idea would be added. That being said, I'll try to list these things up in a proper way, for better understanding.

"Lock" your funds. This is something I would want because of two reasons. The first reason is for account safety. If I could "move" my funds into a "savings section" which are set to "can't order and can't withdraw". My funds would be safe, even if my account got hacked.
"Lock" your funds #2. If there was an option to prevent myself from withdrawing my funds, until I reached a minimum amount that I choose myself, that would be of great help, as one could avoid all these "small amount" withdrawals which I personally (and many others) are doing frequently. I'm what one could call a spender. I don't "care" about small amounts and I usually withdraw these and spend them on totally useless things, instead of saving them until I reach a good amount of money to request a withdrawal for.
Withdraw custom amount. Instead of withdrawing the entire balance you do at this point. In case I would want to withdraw $26, and I have $184 in my balance, a custom withdrawal would be perfect!

Cheers,
hitmeasap

9 years ago

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Everett

Everett

Perhaps you could call it personal balance, and seoclerks balance. So with the personal balance, you can not withdraw until you entered either a security question or two factor authentication. Now to bypass taxes, and things needed to store cash, you could input a specific date to withdraw this amount.

Honestly though, if you spend and spend the moment you receive cash you may have a shopping addiction!

9 years ago

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hitmeasap

hitmeasap

Hey Everett,
Yeah, one could call it that. Personal balance. And yeah, I probably have some sort of addiction perhaps, but I'm just not that good with small amounts of money...

Seriously though, I would definitely think it would be a useful feature for anyone who's like me, or for people who request withdrawals as soon as they reach any little amount they can.. But I also believe it would be a great addition to all the security things already implemented on SEOClerks.

9 years ago

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Everett

Everett

You need to limit yourself, and place minimums on the amount you withdraw. I would drive myself insane if I was spending and spending. The only problem is, is that I can't spend and spend. LOL.

I need money to pay for my living expenses. So if I don't have any money due to spending a lot of small amounts, which add up to large amounts, I would basically be out of luck, and probably out of a place to live.

Right now, my money goes toward my living finances, and self investments. I'm always trying to find more ways to invest into my self, either by taking courses or launching a website. Try to find something to invest your money in and then make more than the investment.

9 years ago

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Lynne

Lynne

I can certainly see how this might be a nice feature to add. I know what you mean about wanting to blow money all the time on things you see. I literally cannot carry cash on me, ever. If I don't carry cash I don't spend unless I need to, but if I have cash it just goes so fast.

9 years ago

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hitmeasap

hitmeasap

And that's exactly my point with this!

If one could "lock" the funds, in case you wanted to, you'd be able to save that instead of spending it. Which tons of people are doing right. It's easy to withdraw funds whenever you want and can (user level requirements), and I'm all for that, but I would still want to have the option to "lock" my funds.

That would be a superb option for me at least. And a really helpful one.

9 years ago

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Everett

Everett

Also, another thought came to mind. What happens if you need these funds immediately but they are locked due to your own requirements set to unlock the funds? I'm sure the support team would be very busy unlocking funds, as they would have to detect if the account was compromised, and everything that goes with that.

What would you recommend for those that need emergency funds right away, but can't get their funds unlocked until a support member was online to unlock the funds? Then as you can see it totally bypasses the initial thought of having the system in place.

9 years ago

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MasterA

MasterA

If you want to have some sort of “savings account” in SEO Clerks, then they will surely need to pay you interest for the money. However, I don’t think SEO Clerks will do that as it will probably be difficult to implement and it probably won’t be very popular. If you don’t want to spend the money, then you can withdraw the money to your PayPal account and then your bank and put it in your savings account there. SEO Clerks already have very good security features so I don’t think they need this for security reasons. Also, you can have a custom withdrawal at the moment. You don’t have to withdraw everything.

8 years ago

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