Comments on: Fees Increase http://blog.bountyup.com/2008/01/27/fees-increase/ Exploring the possibilities of social commerce Fri, 05 Dec 2008 16:27:47 +0000 http://wordpress.org/?v=2.3.3 By: Joshua http://blog.bountyup.com/2008/01/27/fees-increase/#comment-1014 Joshua Mon, 14 Jul 2008 03:58:14 +0000 http://blog.bountyup.com/2008/01/27/fees-increase/#comment-1014 Michael, BountyUp is intended to be a for-profit venture (although, as of yet, we're still upside-down). We're quite restricted in what we can do for interest with funds held in escrow, so the interest rate is a lot less than you might think. Joshua Michael,

BountyUp is intended to be a for-profit venture (although, as of yet, we’re still upside-down). We’re quite restricted in what we can do for interest with funds held in escrow, so the interest rate is a lot less than you might think.

Joshua

]]> By: Michael Wheatley http://blog.bountyup.com/2008/01/27/fees-increase/#comment-1013 Michael Wheatley Sat, 12 Jul 2008 20:11:07 +0000 http://blog.bountyup.com/2008/01/27/fees-increase/#comment-1013 Why does BountyUp charges fees? As I understand it BountyUp will hold the bounty money untill the bounty is paid or returned. As with the banker in the small town sherrif analogy I expected BountyUp to earn interest on the money it is holding. If the interest returns are greater than the costs I would expect a share of the profits to be added to the bounty. Instead BountyUp is keeping all the interest earned and charging a fee. Is BountyUp a profit making venture? Why does BountyUp charges fees? As I understand it BountyUp will hold the bounty money untill the bounty is paid or returned. As with the banker in the small town sherrif analogy I expected BountyUp to earn interest on the money it is holding. If the interest returns are greater than the costs I would expect a share of the profits to be added to the bounty. Instead BountyUp is keeping all the interest earned and charging a fee. Is BountyUp a profit making venture?

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