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  • Hey all, just changed over the backend after 15 years I figured time to give it a bit of an update, its probably gonna be a bit weird for most of you and i am sure there is a few bugs to work out but it should kinda work the same as before... hopefully :)

Payment:

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Jay A. Kelley said:
For me, this credit card payment situation is horrible. I am not a happy camper.

Jay
Click to expand...

Agreed, credit cards are a way of life for me as of late.

I can pay in another form, but would prefer the option to pay with plastic.
 
Wire Transfer Instructions

Wire Transfer Instructions

If you are planning to pay your balance by wire transfer, please follow the directions below:

IMPORTANT: YOU MUST PUT YOUR LAST NAME AND SERIAL OR ORDER NUMBER IN THE REFERENCE FIELD SO WE CAN APPLY YOUR PAYMENT TO YOUR ORDER!

The wire transfer can be submitted with the help of your bank. You may be required to visit your bank in person to execute the wire transfer.

Amount to Transfer: $__________ USD
Bank Name: Key Bank
Bank Address: Bellingham, WA
ABA Routing Number: 125000574
SWIFT Code: keybus33
To Credit: Red.com, Inc. dba Red Digital Cinema Camera Company
Account Number: 472621002345
Reference Number: LAST NAME/SERIAL OR ORDER NUMBER

REFERENCE NUMBER WARNING:
You must write the reference number as provided above on your wire transfer. If you fail to write the reference number properly on the wire transfer your payment may not be processed.

CLIENTS OUTSIDE THE USA
Please be advised that for international wires your bank my require and charge you for the use of an intermediary bank. You should contact your bank and inquire about the possibility of any additional fees.


LET US KNOW IF YOU HAVE ANY QUESTIONS... THANKS!
 
Thanks Kelly

Thanks Kelly

Kelly said:
If you are planning to pay your balance by wire transfer, please follow the directions below:

IMPORTANT: YOU MUST PUT YOUR LAST NAME AND SERIAL OR ORDER NUMBER IN THE REFERENCE FIELD SO WE CAN APPLY YOUR PAYMENT TO YOUR ORDER!

The wire transfer can be submitted with the help of your bank. You may be required to visit your bank in person to execute the wire transfer.

Amount to Transfer: $__________ USD
Bank Name: Key Bank
Bank Address: Bellingham, WA
ABA Routing Number: 125000574
SWIFT Code: keybus33
To Credit: Red.com, Inc. dba Red Digital Cinema Camera Company
Account Number: 472621002345
Reference Number: LAST NAME/SERIAL OR ORDER NUMBER

REFERENCE NUMBER WARNING:
You must write the reference number as provided above on your wire transfer. If you fail to write the reference number properly on the wire transfer your payment may not be processed.

CLIENTS OUTSIDE THE USA
Please be advised that for international wires your bank my require and charge you for the use of an intermediary bank. You should contact your bank and inquire about the possibility of any additional fees.


LET US KNOW IF YOU HAVE ANY QUESTIONS... THANKS!
Click to expand...

Now this DEFINITELY should be a sticky.

oh, and I DO have a question. I have a serial number for the camera, but I also have order number(s) for the accessories. How does one deal with such a situation. I definitely would like to pay with only one wire transfer (at least for items available, the prime kit, if not available, I can pay for with a seperate transfer at that time)

Thanks!
 
Kelly said:
If you are planning to pay your balance by wire transfer, please follow the directions below:

IMPORTANT: YOU MUST PUT YOUR LAST NAME AND SERIAL OR ORDER NUMBER IN THE REFERENCE FIELD SO WE CAN APPLY YOUR PAYMENT TO YOUR ORDER!

The wire transfer can be submitted with the help of your bank. You may be required to visit your bank in person to execute the wire transfer.

Amount to Transfer: $__________ USD
Bank Name: Key Bank
Bank Address: Bellingham, WA
ABA Routing Number: 125000574
SWIFT Code: keybus33
To Credit: Red.com, Inc. dba Red Digital Cinema Camera Company
Account Number: 472621002345
Reference Number: LAST NAME/SERIAL OR ORDER NUMBER

REFERENCE NUMBER WARNING:
You must write the reference number as provided above on your wire transfer. If you fail to write the reference number properly on the wire transfer your payment may not be processed.

CLIENTS OUTSIDE THE USA
Please be advised that for international wires your bank my require and charge you for the use of an intermediary bank. You should contact your bank and inquire about the possibility of any additional fees.


LET US KNOW IF YOU HAVE ANY QUESTIONS... THANKS!
Click to expand...

DEFINATELY A QUESTION:
Since I am located out of the country: Mexico to be exact. (HOWEVER I DO HAVE THE GOOD FORTUNE TO HAVE AN ACCOUNT IN THE USA)....and an address in a state other than CA. Are out of state purchases exempt from CA. state sales tax? I presume so....this was noted on my original invoice.

I can have you send it to my out of state address or pick up in CA. BUT, how is the sales tax handled. Upon importing into mexico I pay 17% IVA (value added tax)....so ca. state sales tax is not applicable and of course highly undesirable.

Suggestions?
....is sending camera out of state still the option and I avoid ca sales tax?
thanks....
 
Not sure why there's the $7500 limit on CC payments... I'm sure RED has their reasons (or their bank or CC merchant account provider does). I can see where this could put some people in a bind. I don't think the Google solution is realistic -- the free benefits are geared toward individuals or small business and it looks like there's plenty of restrictions and conditions there too.

My question, that I haven't seen anyone ask yet, but will probably come up... How do payments that have already been made for reservations or down-payments affect all this? Are those amounts factored toward the maximum portion that can be paid on credit card? Or is this only for the balance owed at the actual time the camera becomes available?
 
Jay A. Kelley said:
I have until November before I have to pay for this thing.. So I will wait until then and see if RED offers another choice, or if needed will cancel.
Jay
Click to expand...

What will happen to those cameras if people do cancel. Can other people waiting further down the line pick up those cameras to keep the line moving?
 
Credit cards & CASH DISCOUNTS

Credit cards & CASH DISCOUNTS

Jeff.....you mentioned in another thread (that i posted to) you don't think it's legal to do CASH DISCOUNTS. I disagree....I think it is pefectly legal---however would have to be double checked. I do this on my payments via cc in the USA for trips here to Mexico. I agree each state may have its own rules on this. But seems to me (not having a law degree) that this is a solution.

Product (red camera): $17,762.50 ($17,500 + $262.50--which is 1.5% cc fee)

So...you pay by cc you pay: $17,762.50

Want to pay cash: you pay: $17,500.00 (because you get a cash discount of x dollars or %)

I seem to recall seeing this in many places once the CC law came into effect and got sellers looking for ways around how to pass on the CC FEE---without actually calling it a CC FEE....nothing more than a play on words---CASH DISCOUNT.

Isn't this a reasonable solution for the many folks that want to put their balance on a CC. Not everyone is doing so because they have no other capital financing solutions---BUT many of us (me included) love to work our CC's and pay the balance each month and earn mileage and in my case with my Amex business card--Increase my business relations with AMEX and therefore further my captial buying power with them on my business card. I know in my case, and i'm sure I'm not alone....it has nothing to do with can't get money elsewhere. CC's are just so convienient and rewarding.
 
Shawn Nelson said:
Why won't Red just get a Google account? Please address this. It seems a no-brainer to satisfy the customers while still getting all the funds.
Click to expand...


If possible, this certainly sounds like the best solution. I too have been planning on purchasing using credit cards. In fact in recent months I have acquired a couple of 0% interest for 1 year cc's. The plan is to have it payed off in 6 months and avoid paying the crazy interest. As I am just starting out with my business I would imagine that it would be tough to get a small business loan despite a good business plan, good credit, and a great sales pitch to the bank. Not taking cc's leaves me (and I am assuming a handful of other reservation holders) in a world of hurt. I understand Reds position and I don't begrudge them for it at all, after all it is a business and this is a business decision. However, if the pay by google thing that Paul and Shawn have mentioned is as it seems then it does seem like a "no-brainer" to set that up.

just my 2cents,

Omar
 
Jim,

I would respectfully submit that enough people are concerned with not being allowed to use credit cards for the full balance that you should revisit this situation.

I realize you never said anything about this, but IMHO the fact that we were able to put the deposit down on CC kind of lead me (and perhaps others) to belive the rest could follow.

Perhaps you could consider allowing your reservation holders to pay their bills by credit card. There seems to be some sort of Google solution Paul has spoken of.

Please Jim, reconsider this.

Jay
 
I'm just making sure that I can order all my accessories with the camera and get everything at the same time. I don't really want to put down any more down payments, but I have no issue pre-ordering what I will need if it makes things easier. From this point on I'd just like to pay the grand total. I know before that it was mentioned that no pre-ordering of accessories would be necessary.
 
BajaProductions said:
I think it is pefectly legal---however would have to be double checked. .
Click to expand...
http://en.wikipedia.org/wiki/VISA_(credit_card) has some info in this regard. It is still a bit unclear as interpretation of what constitutes a "fee" and what is a "discount" is apparently up to the individual banks that process the CC monies.

From the point of view of the seller, accepting large orders via CC from individuals or small businesses has some risk also. http://en.wikipedia.org/wiki/Credit_card_fraud
 
jbeale said:
http://en.wikipedia.org/wiki/VISA_(credit_card) has some info in this regard. It is still a bit unclear as interpretation of what constitutes a "fee" and what is a "discount" is apparently up to the individual banks that process the CC monies.

From the point of view of the seller, accepting large orders via CC from individuals or small businesses has some risk also. http://en.wikipedia.org/wiki/Credit_card_fraud
Click to expand...

with respect, i'm not sure what you are saying. I take about $300k in cc's for my 2 month whale watching business and have not had one issue in 11 years. BUT I of course obtain authorization, check addresses, verify my clients etc....

I think in the end one has to weigh how much greater a market share you can reach by allowing cc's vs. a cash only transaction. and then asses the potential risks involved. But again cc's are nothing new for big purchases and certainly nothing new to all of us...
 
So we cant use Credit Cards to make the full purchase of this camera? I was planning on using CC as well, but I suppose I could do a wire transfer, and if this is the case, can we use another account (separate from the CC account) to make that wire transfer?
 
This is just an opinion, but this payment model is going against what RED stands for is it not?

The idea was to make a camera accessable to anyone, but in order to buy it you must be extremely liquid or have other special means. The Credit Card is the poor man's bank loan and, as you can already see, many had planned to use it to buy their REDs.

We're not here to discuss if this is a smart idea or not. Rather, my post is simply an insight.. I find it odd that a camera "built for everyman" can only be "purchased" by a select few.

Looks like we've fallen off the rails somewhere along the line.

Jay
 
Folks, may I respectfully submit that RED is not a bank, a financial institution, or for that matter, your best friend willing to give you a loan, or do individual financial planning to help make your dreams come true.

They are in business to make money. If they feel that there are good reasons reasons they don't want to take the full amount of a RED on a credit card, that's that. And by simply telling us so, that's as far as they need to go to explain things to us.

This day was coming, the day when reality sets in and suddenly a thousand plus people realized that they need to somehow get their hands on between $16,500 and $40,000 US pretty quickly. I give RED props by giving you a full month to get your finances in order from the time your unit is ready, but in reality, we've all had WAY longer than that. IT'S NOT THEIR PROBLEM. IT'S OURS.

There have been very valid suggestions on alternatives for you to pursue in this thread. A small business loan makes great sense if you don't have cash on hand. Get with your financial insitution, and start talking to them NOW. If it works out that the ONLY option you have is an unsecured loan at staggering interest, then I'd also submit that maybe you should hold off and rent for a while.

Credit cards are NOT the answer for this sort of purchase. No sane business manager in the world would suggest that you go that route.

Get a good business plan together... show how you intend to pay off the RED and put it to use.

There's a reason my serial number is in the 400's and I didn't sign up at NAB. NOT for lack of enthusiasm on my part... I simply waited until my HVX earned enough money to buy the RED and give me some sort of indication of how long and hard I'd have to use it to pay it off. I'm a VFX guy first, a shooter second, and the numbers had to work on any sort of non-trivial purchase.

That old saying is wrong, you CAN put a price on dreams, and sometimes you have to realize you can't afford them.
 
Little update:

My family didn't take the news very well, my parents said that with credit cards you have security in your purchase on your end in case your being scammed. They said wire transfers aren't safe at all, it's like handing over straight cash and who knows where it's going?

Me, I don't know too much about payments and bank stuff, my parents have taken care of that stuff and I'll definitely be learning once I graduate from college and move to LA. So, with that said, if they say something sounds fishy then I take their word for it.

As I said before, if RED doesn't come up with something before my camera arrives in November, then I'll definitely have to cancel and go with the SI-2K. It's just the sad truth of my situation and judging from the few posts in this thread, I'm not alone with concern over this.


Edit:
Just for clarification, it's not about being able to afford the camera itself, it's the method of payment that I have a problem with. Jim A., it isn't about whether people can afford the camera, if they couldn't they wouldn't have paid $1000 to owe $16,500, what a silly thing to say! As I said with credit cards, from what I've been told, it's about having security in your purchase and should anything happen, such as if my film dept. dean's dream comes true and the camera's a scam, or you don't get your camera at all, or if something happens to it before or after it gets to you, you can get your money back no matter what. Wire transfer = no protection, so if the camera doesn't arrive, you're out of $17,500+.
 
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