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To all sellers and buyers of usd..

This is a discussion on To all sellers and buyers of usd.. within the General Chat forums, part of the Knight Online (ko4life.com) category; After my latest failed case with paypal (had one couple years back), I am here to advocate a new way ...
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  1. #1
    Senior Member typ0's Avatar
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    After my latest failed case with paypal (had one couple years back), I am here to advocate a new way of selling and buying online. Some of you might have heard about it, maybe not, but its called moneybookers.com. Basically, it's a company based in Europe that works very well internationally (as opposed to paypal, whose bullshit from one place to the next doesn't seem to end). It works in a manner similar to paypal, with a few notable exceptions. You can add money to a moneybookers.com account, send money, and receive money from others. The biggest advantage is the escrow service they offer. For those who may not know, escrow is a way of insuring money being sent is safe. It works by Moneybookers Ltd acting as a middleman (they charge a very small fee, better than paypal), who holds the money secure in a seperate account once the sender initiates the transaction. The receiver then ships the money and the sender has 14 days to review and make sure the item arrives and is as described. If it doesn't arrive in that 14 day period, or is sufficiently different from what was described, then it can be sent back, and the sender has the option of rejecting the item and getting back the money that was sent. If it is as expected, then the sender simply clicks "Accept" in the escrow transaction page, and the money is transferred from the trust account to the receiver's account. In this way, there's no way any one can really charge back, for when the sender clicks "Accept", basically any right to dispute the transaction or the money that was sent is negated-- the transaction, barring any major shit like identity fraud reported to the SEC/FCC/etc, is final.


    You can add funds to your moneybookers.com account directly from your bank (you'll have to go the bank and physically initiate a money transfer) or you can use a credit card, which has a 1.9% fee attached (again, this is less than paypal). I highly recommend everyone here who buys or sells things for usd to use moneybookers.com, as it's a thousand times better and more secure than shitty paypal.



    peace



    P.S. - If you're wondering, Moneybookers.com Ltd is registered/licensed in Britain under UK law; basically, it is legit.

  2. #2
    Psy
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    Senior Member Psy's Avatar
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    Thanks for sharing this with us, typ0. I'll look for news articles concerning the company and get back to everyone shortly. I may use this to sell stuff.

    edit - All I can see from reviews is that their customer service is slow. However, it doesn't seem to be automated like I feel PayPal is.

    edit2 - Your outgoing transaction limit 1337.30 USD [?]
    Remaining 1337.30 USD [Increase
    1337? 0.0 (Probably some conversion factor. I love it!)

  3. #3
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    Hmm, I'll keep my eye on this in the future. Thanks.

  4. #4
    I_JuST_OwNed_U
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    nice will be checking it, good post ^^

  5. #5
    Senior Member TheMadHatter's Avatar
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    An alternative to PayPal and WU is definitely needed.
    Thanksss you

  6. #6
    Senior Member typ0's Avatar
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    My pleasure guys. Finally an alternative to PayPal.


    One thing I should let everyone know about as well, coming from my recent personal experience. To add funds to my moneybookers.com account for the first time, I used my credit card. Interestingly, my bank then put a fraud alert on my credit card. A fraud alert is basically a sort of notice that means you have to contact your bank online (although I doubt all banks do this; my bank is Bank of America, and I'm sure they do, especially if you bank online) and let them know that your transactions are authorized. Also, the person I called at my bank informed me that I should be careful using moneybookers.com because there are reported cases of people using that service for gambling, and if your credit card company finds out that you used your credit card for that reason, they will revoke it. However, for all legit purposes like paying for auction items and similar sending of payment, it's 100% legit and legal. This shouldn't be a surprise, as anyone can use even legal services for illegal purposes, so it's up to the individual to make sure they're aware of the consequences and policies.


    One more thing, in case anyone here wants to sign up, I have a link for referral (yes, I do get a bonus for it :P ) -

    Click to sign up for Moneybookers.com




    Hope this helps. I'll keep everyone posted with how my experience with it goes.



    -typ0

  7. #7
    Flonne
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    sounds nice.. but say u trade with a scammer, he sends the money, u give him the item but he says he didnt get it, ur getting screwed or did i misread what uve written? xD

  8. #8
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    sounds nice.. but say u trade with a scammer, he sends the money, u give him the item but he says he didnt get it, ur getting screwed or did i misread what uve written? xD[/b]
    xactly my thoughts
    wt if the buyer, even after gettin the item, says he never got it
    in that case wud he b able to get the money back?

    nd if yehh
    then how is it diff then charge backs in paypal??



  9. #9
    ISeeYouPee
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    ill keep my eyes open on this thanks ^^

  10. #10
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    you know this will benefit the scammer too >.<

    i sell u kk baba? you send me money i gyft u itam...
    *kk money sent*
    BLOCKED BLOCKED :/

  11. #11
    Senior Member typ0's Avatar
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    xactly my thoughts
    wt if the buyer, even after gettin the item, says he never got it
    in that case wud he b able to get the money back?

    nd if yehh
    then how is it diff then charge backs in paypal??[/b]

    Good question guys, it made me think about go double check the website for more info. Here it is:

    "All Moneybookers payments are Irreversible...
    Once you are paid, you stay paid! Moneybookers is a "hard" currency and transactions are NOT reversible. Credit cards are a "soft" currency because transactions can be reversed. This leaves the merchant in a disadvantageous position because it is usually not practical to retrieve the goods once control has been given to the buyer.Instant and irreversible payments are thus advantageous features of Moneybookers payments.

    NO charge back risk for merchants
    We do not pass on charge backs to the merchant but absorb them ourselves. We reserve, however, the right to withdraw this policy without notice for any particular merchant who we determine is not exercising due diligence or is operating in a way which results in higher than normal exposure.

    NO rolling reserve
    There are no holdbacks from Merchants on payments originating from credit/debit cards. We reserve, however, the right to withdraw this policy without notice for any particular merchant who we determine is not exercising due diligence or is operating in a way which results in higher than normal exposure.
    How we make this possible:

    * Moneybookers offers high payment security, and reduces risk with measures such as credit scoring and payment limits.
    * Registration information is verified using proprietary and third-party databases. Conflicting information results in an unsuccessful registration. We also monitor account activity for signs of unusual activity that might point to fraud.
    * New Moneybookers users are subject to lower transaction limits until their account has been successfully authenticated. Once a customer is successfully authenticated, they are given full payment privileges up to the standard transaction limits.

    * We work with law-enforcement agencies to protect against fraudulent activity through the Moneybookers payment system."


    To help you guys understand how that works, and how moneybookers.com doesn&#39;t really use credit cards as "soft currency", I&#39;ll go back to my previous post where I mentioned the false fraud alert that was placed on my account as a security measure by my bank. One reason they did this was because the money was taken out IN CASH, which means that the money that will sit in moneybookers.com&#39;s trust account in an escrow transaction is deposited as CASH, meaning that this is how they will ensure the transaction CANNOT be reversed. Keep in mind that once you send money with an ESCROW payment, the seller doesn&#39;t receive it directly. He/She only gets it once the buyer/sender confirms shipment, and if the buyer/sender denies receipt, then from what I&#39;ve read, moneybookers.com takes the hit and the seller/receiver is spared from losing out. However, any people thinking to scam moneybookers.com should be aware that they "...reserve, however, the right to withdraw this policy without notice for any particular merchant who we determine is not exercising due diligence or is operating in a way which results in higher than normal exposure." So, you might get away with it once or twice, at moneybookers.com&#39;s loss, but eventually they will catch on and once fraud comes into the picture, I can&#39;t tell you what will and won&#39;t happen.


    Keep the questions coming aga&#39;s.

  12. #12
    Senior Member typ0's Avatar
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    Bump, keepin this alive.

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