There are many different forms of online payment methods available in today’s world. This particular payment method, Moneybookers, is a device that allows the user to safely and securely send and receive payment through the utilization of email, also known as an eWallet. This payment method is advertised as an almost instantaneous form of money transfer via email. The idea behind the Moneybookers service is that a user can transfer money from his or her debit or credit card to and from a bank account instantly. This particular eWallet is now known as “Skrill,” but for simplicity purposes, this article will continue to refer it as Moneybookers.
A major advantage in using this tool as a user is its ability to use the service in almost any country in the world. The Moneybookers service prides itself on its global availability, and it provides a general policy to not accept registrations from a certain few countries. The countries that cannot utilize the Moneybookers tool are, in no particular order, Nigeria, Iran, Myanmar, North Korea, Sudan, Afghanistan, and Cuba. Accordingly, it is clear that almost the entire world has access to this tool. This is one of the major selling points to Moneybookers. This payment method is international and can be a very simple, cheap, and fast way to send money across borders.
Regarding its ease of usage, sending money transfers using this tool is very easy and quick for any user. The initial phase of the Moneybookers process is to have the user register an account in his or her name. This phase requires basic details of the user’s information and bank details. The next step in the process is to fund the newly created Moneybookers account. Typically, Moneybookers users fund their accounts using bank transfers, as a payment method. The users will provide the bank details and the associated customer ID, that is referenced in the bank transfer, and then the user will need to instruct his or her respective bank to process the transaction. The Moneybookers account also allows for other payment methods as well for its users to fund the accounts. Lastly, once a user has funded his or her account, and the account is credited, he or she can immediately send and/or receive money payments to anyone with an email address by following the listed instructions under the “send money” tab on the website. In the reciprocal, a user can also receive money using this service by the user selecting “request money,” and following the instructions accordingly. Moneybookers provides additional comprehensive instructions on its website as well.
The biggest advantage to using this payment service is the speed. Moneybookers transfers are fast and can be made in a literal blink of an eye. The service uses the internet to enhance the speed of receiving and sending payments, and because of the internet, can be accessed almost instantly. Another one of the advantages to using this form of payment is its inherent form of risk reduction. Theoretically, a user will no longer need to risk the exposure of his or her credit or debit card’s information every time he or she shops on the internet. Moneybookers touts a secure payment system and can protect one’s card information. Another advantage to using this payment tool is the convenience that is associated with it. A user will only need to send a payment to the recipient’s email address. As a result, this will entirely eliminate the hassle of dealing with dealing with bank checks or other bank related forms, such as wire transfers, etc.
The Moneybookers tool is becoming increasingly popular, especially in the European market. According to its website, Moneybookers is opening approximately over 5,000 new virtual accounts every single day. Moneybookers also claims to be one of Europe’s largest online payment systems as a whole. Accordingly, Moneybookers has stated that it has reached its own target of opening over five million accounts and continues to grow in Europe. Moreover, it continues to grow worldwide and is one of the largest forms of eWallets available on the market. The Moneybookers service also offers a limitless money transfer service with local payment options in more than forty countries for online shopping and transactions.
It is important to note that the Moneybookers payment service is not free and that there are some fees associated with its tools. However, some parts of the services are in fact free. It is free for any user to register his or her account with Moneybookers on its website. It is also free for a user to upload their respective funds from his or her bank into the Moneybookers account. Furthermore, it is free for the user to receive money and to request money from another party. However, uploading money from a user’s credit card is not free. There is a 1.9% charge for the user for that particular action. A user is also charged 1% for sending money. In addition, for a user to withdraw his or her money to a bank, or withdraw money via a check, there is a small flat fee that must be paid. There are more “official fees” that can be found on the Moneybookers website as well. This is likely the biggest disadvantage to the Moneybookers tool – the small fees and commissions that will certainly apply to the services utilized by the user.
Before signing up for the Moneybookers payment service, a potential user may wish to review the institutions that utilize the payment tool. There are many retail shops, stores, and otherwise that accept the payment method. In addition, there are many casinos and other gambling venues that will accept Moneybookers as a form of payment. A list of these organizations is provided on its website and it would behoove any potential user to check out this list ahead of any gambling transaction. Moreover, it may also be a good idea for any potential user to verify with a casino or gambling institution ahead of time too, via a customer service representative, to see if it will accept Moneybookers as a form of payment.