MoneyBookers

Simple procedures, low service charges, escrow system, acceptability in some countries not covered even by PayPal, Europe's first regulated e-money issuer is definitely worth a try especially if you are from Europe.

Claiming to be Europe's first regulated e-money issuer, MoneyBookers offers an ideally suited solution to small businesses, online e-tailers to send or receive payments in a secure and cost effective way. It is online payment system allowing users to virtually upload money to pay for goods or services using email account. Even when you are not registered with it, you can receive money using your email account. All you have to do is that you register with it using your email address to claim the payment. It pays handsomely for referrals too.

It complies with financial services and markets act, 2000 and meets minimum capital requirements, float management requirements, management entry vetting requirements, besides having sound systems and controls in place.

Wide Acceptability

It is widely accepted system and has almost entire spectrum of merchants ranging from auto accessories, jewelry, hardware, food, travel to virtually everything that is being transacted on net, registered with it. It is accepted in more than 40 countries including some countries as Poland where there are no credible alternative as PayPal.

Charges

Its low service charges definitely make it more attractive to bank transfer or cheque option. While customers can have free account, merchant accounts pay some commission. However merchant account accepting credit card with option of charge back guarantee could be expensive one.

Buyer and Seller Protection

Though, largely it has a fraud free history, customers have complaints of poor customer response services and steep return charges for errors at MoneyBookers end.

It has a system in place, called "escrow system" to protect both buyers and sellers. Sellers are assured against charge back risk and buyers are asked 2% as security deposit refundable after successful completion of transaction. Buyers are given chance to return the merchandise and seller does not get paid till buyer accepts the merchandise or inspection period of the merchandise expires. All buyer has to do is to check the escrow option before buying and he gets all this at no extra cost. As is usual in this industry of merchant accounts, this service can not be used for illegal purposes, money laundering, pornography, counterfeit items etc.

User Rating

It has mixed ratings from users. MoneyBookers claim their system to be fraud free and so far no major instance of fraud has been reported. Most sellers are really satisfied over the fact that their money can not refunded with out their permission. Having an escrow system in place also help both buyers and sellers alike. Its being regulated by FSA in UK also gives some creditability while dealing. It is offering downloading of funds to any Visa card in US.

But they do complain about its poor customer service. It is complained that quite often, they don't respond for days at a stretch. It is also complained that while withdrawing conversion charges for some currencies as Indian Rupee are very steep. The system for verifying bank account as claimed on their website also does not work and documents have to be faxed sometimes repeatedly. Users are also upset about steep commission for returned transfer where the return is attributed to some mistake at MoneyBookers end.





Navitagion Main Page Links Payment Systems 2CheckOut Charge.Com ChronoPay GBuy (Google) MoneyBookers PayPal StormPay WorldPay Sell Online Froogle Windows Live Expo Google Base eBay <a href="http://www.charge.com/banners/click.php?webma417" target="_blank"><img src="http://www.charge.com/banners/120x60_3.gif" width="120" height="60" border="0" alt="Become a Credit Card Merchant"></a>		MoneyBookers Simple procedures, low service charges, escrow system, acceptability in some countries not covered even by PayPal, Europe's first regulated e-money issuer is definitely worth a try especially if you are from Europe. Claiming to be Europe's first regulated e-money issuer, MoneyBookers offers an ideally suited solution to small businesses, online e-tailers to send or receive payments in a secure and cost effective way. It is online payment system allowing users to virtually upload money to pay for goods or services using email account. Even when you are not registered with it, you can receive money using your email account. All you have to do is that you register with it using your email address to claim the payment. It pays handsomely for referrals too. It complies with financial services and markets act, 2000 and meets minimum capital requirements, float management requirements, management entry vetting requirements, besides having sound systems and controls in place. Wide Acceptability It is widely accepted system and has almost entire spectrum of merchants ranging from auto accessories, jewelry, hardware, food, travel to virtually everything that is being transacted on net, registered with it. It is accepted in more than 40 countries including some countries as Poland where there are no credible alternative as PayPal. Charges Its low service charges definitely make it more attractive to bank transfer or cheque option. While customers can have free account, merchant accounts pay some commission. However merchant account accepting credit card with option of charge back guarantee could be expensive one. Buyer and Seller Protection Though, largely it has a fraud free history, customers have complaints of poor customer response services and steep return charges for errors at MoneyBookers end. It has a system in place, called "escrow system" to protect both buyers and sellers. Sellers are assured against charge back risk and buyers are asked 2% as security deposit refundable after successful completion of transaction. Buyers are given chance to return the merchandise and seller does not get paid till buyer accepts the merchandise or inspection period of the merchandise expires. All buyer has to do is to check the escrow option before buying and he gets all this at no extra cost. As is usual in this industry of merchant accounts, this service can not be used for illegal purposes, money laundering, pornography, counterfeit items etc. User Rating It has mixed ratings from users. MoneyBookers claim their system to be fraud free and so far no major instance of fraud has been reported. Most sellers are really satisfied over the fact that their money can not refunded with out their permission. Having an escrow system in place also help both buyers and sellers alike. Its being regulated by FSA in UK also gives some creditability while dealing. It is offering downloading of funds to any Visa card in US. But they do complain about its poor customer service. It is complained that quite often, they don't respond for days at a stretch. It is also complained that while withdrawing conversion charges for some currencies as Indian Rupee are very steep. The system for verifying bank account as claimed on their website also does not work and documents have to be faxed sometimes repeatedly. Users are also upset about steep commission for returned transfer where the return is attributed to some mistake at MoneyBookers end. Are you a victim of credit card processor? Take these initial steps. Click here to visit MoneyBookers.