This year, there is a new service available for fantasy leagues to help with payments and payouts. It is called LeagueSafe and they have been advertising on The Huddle. I have thoroughly read all of the literature and I think there are some positives to using the service. There are also a few negatives.

First the positives. It can be totally free to deposit money into the league account. If we set it up to only accept electronic check, it costs nothing to pay your league dues. This method would have you enter the bank routing number and the account number in a form as you are paying. This is how I pay my electric bill and car insurance every month. It is a safe and secure method of paying. This would be better than paying the extra fees that Paypal charges. It would also save some of you postage that send me checks. If you still like to do things the old fashioned way, you can still send me a check and then I can transfer it into the account for you. The other big positive is the quick payouts at the end of the season. I will admit that I am terrible about getting payments out as quickly as I should. Last year, I even forgot to sign most of the checks. You have the option of getting your winnings in a personalized VISA card with your winnings on it or you can choose to get a paper check or electronic transfer directly into your account. They charge $3.00 for a check or transfer. The payments are made between 3 and 10 days after the league Super Bowl.

The cons are the fee for payments. Unless you want the VISA card with a balance equal to your winnings, they charge $3.00 to write you a check or make a direct transfer into your account.

I guess the way they are planning to make money is to get a large number of accounts and collect the interest on those funds. This won't really affect us, because I usually keep all of the payments in my Paypal account during the season, and we don't earn interest on those funds. The other con, is that it is a brand new entity. It is founded by the man who founded Fanball and I believe that it will be very reputable.

Let me know what you think. If we were to try it, those that have not yet paid, would be able to take advantage of it and save yourself the extra Paypall fees.

I'm not crazy about it.... maybe next year you would remain commish and have someone else handle dues/payouts? knee jerk reaction... for money, I like snail mail best.

I like the idea but think we should wait another year to make sure the company makes it thru OK.

+1

You would think a 3rd party would actually hold the money avoiding risk, but waiting a year might be a good idea.

Rollers has shown nothing but excellence so far, as commish & holding the money. I see no reason for change. If going to try it, I would wait a year as well but I'm not worried about Charch's service as I've used Fanball for something like 8 yrs now and seen nothing to ever worry me.