MoneyBookers

[Gavin Harris]

Has anyone used http://www.moneybookers.com?

They look pretty good, and their fees are very low - especially for large transactions.

Just wondering if anyone had any positive or negative experiences with them?

Cheers

Gav

 

[ServWise]

Just used them to transfer £1000 from my UK bank to my Italian bank, compared to doing it by direct bank transfer it was much easier and cheaper and certainly a lot cheaper than using a debit card to take out euros from a cash point.

I have an abbey business account and they don't let you do international transactions on-line, you have to call them to do it, so instead I upload funds to moneybookers uk bank account and then retrieve funds from moneybookers Italian bank account direct to my Italian bank.

It's an extra step as you have to do the transfer twice (unlike a direct transfer) but I think the savings are worth it and I can do it all on-line so the hassle is actually probably less too.

There was a small fee of about €1.50 from MB and then just the exchange rate as they had to change the money which was only €0.02 less then the rate on XE for that day. (for £1000 bucks thats still £20 but compared to what my bank would have given me I'm sure that it was much better).

I'm about to add them as a payment system to my site as well (Once the paperwork is approved) and hopefully that part will be as good too and an added bonus for our customers too.

 

[julioufay]

I do not like moneybooker. I like paypal

 

[ServWise]

Can you list reasons why? Just saying "I don't like something" doesn't help people to understand why.

We already offer PayPal as a payment method (Would be mad not too really) but moneybookers is an alternative, it is also properly regulated int he UK (Like a bank is) and has much stricter rules to follow with regards to holding your money. Unlike Paypal who can do pretty much as they please.

 

[Optegris]

I used them years ago for a client who ran a betting website and unless they have improved dramatically since then, wouldn't touch them with the proverbial barge pole...

The setup for the account was very long winded and their verification procedures were convoluted. The API was pretty poor as well IIRC.

 

[ServWise]

Why? you haven't said why they are bad other than the process of applying..... Doesn't help anyone just saying they are bad...

Yes I agree the setup is a little long winded (for merchant status not a standard account), 10 page contract, must be filled in hand written and signed. A pain having to print it, fill it out and then scan back in 10 pages. (my scanner is slow) and also the copies of bills, ids etc But I guess this is more because they are regulated. But then again you only have to do it once and it doesn't take all that long..

I think there API and payment / purchase process has improved a lot recently.

 

[Optegris]

Why? you haven't said why they are bad other than the process of applying..... Doesn't help anyone just saying they are bad...

Like I said...

The setup for the account was very long winded and their verification procedures were convoluted. The API was pretty poor as well IIRC.

 

[ServWise]

I don't think Length of application procedure is a valid reason for not using them as a payment provider.

Creating a standard account with them for transferring money or paying for things is very simple and quick it's only if you want to use them as a Payment provider on your website that you need to jump though any hoops as it were.

But I don't think the hoop jumping outweighs the advantage of having them as a payment option for clients that want to use moneybookers, and they are for sure great for doing bank to bank money transfers if like me you have several banks in different countries.

 

[Optegris]

Well I'm just going on personal experience of using them. I wasn't at all impressed.

 

[Alpha]

Gentlemen

could we try to keep personal comments out of the forum and stick to the topic in hand please.

Thanks in anticipation

 

[kevint]

servwise
what countries do you make payments to,
xe.com and transfermate.com can defo do it cheaper.

moneybookers tends to handle small sums alright but for larger sums they are expensive and painful