Rachel Ballantyne
38, British, full-time mother
I wouldn’t trust a company specialising in social media and advertising with my money, whether it was to save it or to send it home. For starters, they’re not a finance company, so imagine what would happen if you or they made an error. How would the money be traced and how would I get it back? They seem so distant and untraceable even as a social media company, so I don’t know how they’d expect to be accessible as a financial services provider. I’d rather stick to banks and finance houses with proven track records.
Jennifer Gibson
31, Scottish, writer
Transferring money home can be very expensive, so I can see why some people might be tempted to try this out. But I’d be concerned. I use Facebook a lot, but I’m very careful about my security settings, which change often without warning. The idea that the same company could be in charge of my financial security is concerning. Also, it’s a company that makes so much from targeted advertising, so having access to people’s personal information is scary. I think I’ll keep my social media and financial dealing separate, thanks!
Petra Ayar Jahchan
33, Lebanese, full-time mother
I think Facebook’s plan is just another money-making scheme, although I believe many people will end up using it as I expect it’ll be quick. It may well also be the only option for some people. I’m not sure if I’d trust them with my money. If they use trusted methods to exchange the money, like services such as PayPal do, then I might consider it. However, Facebook has a dubious history when it comes to data, so that would make me question its ethics.
Maribeth Edano
42, Filipina, housemaid
I always use a money exchange to send money to my family back home. It’s quick and easy and I’ve never had any problems with it. The service I use allows me to send money from here to an agency in the Philippines, which allows my relatives to come and collect it, often the next day. I don’t think using Facebook to send money would be safe, as it’s not a bank or money exchange. Moreover, how would my relatives collect the money once it arrives, especially if they don’t have Facebook?
