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Founded in 2001, MoneyBookers is an e-commerce business that allows payments and money transfers to be made via the Internet. MoneyBookers further serves as an electronic alternative to checks and money orders. Moneybookers also performs payment processing for websites, online auction sites, and other corporate users.
Moneybookers is registered as a Money Service Business, No. 12115607, with HM Revenue and Customs in the United Kingdom (UK), and is licenced to operate within the EU; it is regulated by the Financial Services Authority of the United Kingdom.
Here is a listing of online casinos that will offer you the Moneybookers deposit payment service for gaming sites online to facilitate online gambling. For a description of this payment method, see below.
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Moneybookers is reputedly especially safe and secure. Like Neteller, as it requires identity verification before using the service to minimize fraud and to prevent money laundering. If a user wants to transfer higher amounts up to €20,000 or equivalent within a 90-day period, additional verification steps are rquired, therefore ensuring maximum security.
Moneybookers has been known to avoid merchandise disputes and for this reason, credit card chargebacks may be limited. Generally, their services encompass fee-free online accounts in one of twenty-nine available currencies, instant online money transfer services between users at a nominal cost (1% or EUR 0.50 whichever is less), funds upload/withdrawal using local payment methods such bank transfer, payment card, and cheque, a transparent fee structure, low funds withdrawal fees, an integrated web SMS gateway and fax sending service, merchant solutions with free website integration, card processing with full chargeback protection.
MoneyBookers has proven to be ease of use yet highly secure with relative multiple user verifications, registration of various bank accounts from different countries under one Monebookers profile which must carry the same name, transfer funds between these bank accounts, add funds to the account using various methods including bank transfer and payment cards but which would depend on the payee's country, funds withdrawal to a credit card which can sometimes be processed as transaction reversals, via bank transfer or cheque and SMS-based account updates. Some of these positives are also dependant on the banking policies of the recipient's country so keep this in mind.
Major Negatives are MoneyBooker's inability to change the account's currency which can only be done if no transactions whatsoever have ever been made. Added to this, there is a strict prohibition of opening more than one account and lack of an account closure option which means that the user is stuck with the same currency forever unless they change this feature. There is also a limit of 4 registered credit/debit cards and these can only be removed once they expire and not prior to that. There is also a limit of 4-5 email addresses and an email address can never be updated or removed. One very annoying thing is tha fact that if the address verification procedure by post fails, it cannot be re-done, which most users in far-away countries find utterly useles. Card transactions are also charged a 1.9% fee but are processed as cash transactions which results in card issuers additionally charging standard cash withdrawal fees. Last but not least, there have been many Internet forum complaints about MoneyBookers' very poor customer service.
This highly successful and popular payment processor registered almost 2 million new users within its first 1 1/2 years operating online and as of March 2008, claims to operate in all countries and to handle over 4.2 million accounts. Moneybookers allows customers to send, receive and hold funds in 29 currencies worldwide and offers local payments in more than 30 countries. It also offers escrow payments for online trading as well as online SMS and fax sending services. Moneybookers charges its fees directly to the sender of the payment, and the recipient pays no fees; this is very much unlike PayPal which does exactly the opposite.
In addition to MoneyBookers, here are some of the other types of online casino payment methods and systems utilised by online casinos:
Moneybookers is a secure and convenient method to transfer cash online, providing real-time instant payments. With Moneybookers, players will no longer need to expose their credit card information every time they shop online. Players can fund their MoneyBookers account using Credit card, bank transfer and GiroPay.
With MoneyBookers, online casino players will receive fast and hassle free withdrawals back to their MoneyBookers accounts. Withdrawal time is between 1 - 5 working days.posit. Currency: Euro and GBP. NOT Available to US Residents. Deposit and Withdraw funds available.