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moneybookers
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We are in dispute with Moneybookers, who have arbitrarily taken £129.02 from a transfer from a friend. Therefore, we cannot at present support this service in good faith. A great shame as the system seemed to offer promise. |
Moneybookers has been bought out, the new owners now calling the company Skrill. It is not clear whether the company is now any more reliable. |
moneybookers, a non-goldbased value transfer system is one of a series of documents about economics and money at abelard.org. | ||
moneybookers information | e-gold information | fiat money and inflation |
disclaimer: Caveat emptor (let the buyer beware). |
What is moneybookers ?
This is like dealing in cash, anywhere around the world, with added services. How can I use moneybookers?
With moneybookers, there is no bank or credit-card middleman when you make your net transactions, whether purchases or donations. That is:
Other advantages are Result: you pay less and your recipient gets more.
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What happens when I use moneybookers?Briefly, |
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Why moneybookers?After investigating many methods of transferring funds using the Internet, that are not backed by digital gold, we at abelard.org had chosen moneybookers as our preferred electronic value transfer (evt) method for trading with fiat cash currencies. This has changed. Of the evt methods using fiat currencies we surveyed, moneybookers had been the only one that did not allow chargebacks; that is transactions with moneybookers are irreversible (“there is no charge back risk to worry about.”). moneybookers also provides an escrow service for enabling secure trading of goods. moneybookers does not have the problems associated with using a credit card online, as described in credit card downsides. |
Administrative stuff“moneybookers operates an electronic money service that allows customers to send and receive payments. Their funds are held in their ‘online stored value account’ as electronic money, in accordance with the EU E-Money Directive. The balance of any ‘electronic money account’ is redeemable at any time, this redemption being made only in accordance with ‘instructions given using the moneybookers user interface’.” Note that if moneybookers abritrarily and incorrectly decides that your account is being used as a company or charity account, moneybookers freezes the account and the funds in it. They refuse to admit any error, even when the situation is clearly explained. Thus moneybookers cannot be trusted. Note that moneybookers does not act as a bank, neither paying interest nor providing loan or overdraft facilities. security
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moneybookers works like this (detailed description)
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Make very sure that you have checked, and then checked again, all entries before clicking OK. If you do make a mistake, it may take days or longer to show up and many weeks, if not months, to correct. | ||
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Withdrawing money from moneybookers requires your reference number/ID and your date of birth. |
changing currenciesmoneybookers use the daily exchange rates as published by the European Central Bank plus a spread (fee) of 0.8% in either direction, considerably cheaper than the rates usually given exchange bureaus and banks (unless you hold accounts in more than one currency in the same bank). To convert currencies using moneybookers, fund your moneybookers account in one currency, then use
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How do I set up a moneybookers account?Click
here! |
How much will this cost?
A comparison of transfer methods and costs is provided here by moneybookers. A recent cost comparison |
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An example of transfering £350 from Australia to the UK |
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[all exchange rates in this section as at Feb 2005] |
What can go wrong?We at abelard.org (or our contacts) have occasionally experienced problems when using moneybookers. Here we list various problems and their resolution. Two problems were caused by user error, one by moneybookers not being adequately developed outside countries that are major (English-speaking?) moneybookers users, and one probably because, as a young and growing company, moneybookers is not growing its infrastructure quickly enough. I must emphasise that all these problems have been resolved by moneybookers under persistant interaction. |
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problem with moneybookers | resolution |
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If you do have any problem with a moneybookers transfer, telephone [+44 709 204 2000], fax [+1 509 271 5556 / +44 709 204 2001 ] or email moneybookers with clear details of the problem. But be warned, moneybookers can be very pernickity to deal with, and the Call Centre operators (? in India) will only follow their prescribed crib of answers to your question. If necessary, you will need to be forceful and firm, even somewhat emotional and offended and demand to SPEAK to the supervisor NOW. |
Final wordsTransferring funds on the internet can be a fraught operation when moving relatively small amounts or when dealing with a smaller trader who, because of their size, is unable to obtain merchant status. The moneybookers system provides a relatively simple, as well as secure, method of making such transactions. |
We are in dispute with Moneybookers, who have arbitrarily taken £129.02 from a transfer from a friend. Therefore, we cannot at present support this service in good faith. A great shame as the system seemed to offer promise. |
disclaimer: Caveat emptor (let the buyer beware). |
End notes |
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1 | Password (or passphrase): a string of upper
and lower-case characters, numbers, and even special characters, that you
concoct to protect data or access. It is a security key to protect your account
and your transactions. A nonsense, virtually random combination of letters and digits is best. I have found it helpful (to invention and to memorising) to translate a random phrase, say web designer, using a variety of characters, numbers and, sometimes, symbols. A possible translation is We8Des1gner [note: this is not a password that I use]. Another person I know does similar translations to mathematical equations. However, if you do invent your password in this manner, make sure your original phrase cannot be connected to you, or to the environment in which the resulting password will be used. |
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email email_abelard [at] abelard.org © abelard, 2005,25 february the address for this document is https://www.abelard.org/value-transfer/moneybookers-info.php 2050 words |