review: transatlantic deal via moneybookers

stern · 12-28-2006, 06:55 PM

review on the moneybookers.com system
just wanted to report on a successful transatlantic lens deal that started here. transferring funds from the EU to the US is usually rather expensive and forces americans to disclose their bank data (we europeans are already used to this...). paypal is a fine work-around if you are registered and are willing to swallow their fees...
if not, here is what we did (no advertising - paypal would have been easier for me although less secure in my opinion):
what we used was something called moneybookers.com which worked really fine. its a U.K.-based company that cooperates with oldfashioned banks in all EU-countries, the U.K., the US and the most other countries. as a buyer you have to register with moneybookers and transfer funds from your savings account to their local savings account and after a couple of days the amount is credited to your online-moneybookers account. the next step is to send the "virtual money" to the seller via e-mail who will receive an e-mail telling him/her that a payment arrived. next, the US-recipient has to register at moneybookers and ask for the transfer of the funds to his/her bank account or ask for a cheque to be mailed. in either way all flows of funds can be monitored which enhances security.
fees: a max. of 0.50 EUR is charged from the buyer (if a currency conversion is included - as in my case - a 0.9% fee is added; but that is o.k. compared to what banks often charge...). on receival, the seller doesn't pay anything in case of bank transfer; OTOH, a cheque costs issuing and postage (appr. 4 USD).
i was very happy with the service and the seller received the cheque within a week after i sent the e-mail from my mac in vienna/europe. as far as he told me, all was perfect.
i'd give the moneybooker system a "highly recommended" for transatlantic deals!

Last edited by stern; 12-28-2006 at 07:04 PM. Reason: more infos

Teja · 12-28-2006, 10:59 PM

I will also add experience with MoneyBookers.com.

I registered with them, it was quick and painless. But they put a limit of $500 or the amount you can send or withdraw in a month (I think). To remove the limit I can register a credit card, or a Bank Account or verify my address. I chose address verification, as that seemed most risk free. In three days I got a letter in the mail to the address I registered with MoneyBookers. It had code in it that I enetered on their website after logging in to my account. This verified my address and removed the restrictions on my account.

Once Stern had uploaded his funds, he simply sent them to me at the e-mail address registered with MB (if you want to associate more than one e-mail ID with your account, you can do that too). I got an e-mail notification, and I logged in to my account to see that the funds are available for withdrawl.

I was concerned about how MB would convert Euros to $$, and I can say they have been very fair - much better than Paypal. I actually ended up getting about $6 more than I expected - due the fluctuations in currencies between the day we agreed on a Euro amount and the the day Stern actually sent me the money.

To withdraw the money I had to pay a fee of about $5 to get a check mailed to my address. If I had registered a Bank Account, then I could've withdrawn funds into that account for about $3. The cheque arrived a bit late - took about 9 days total. I guess the delay was due to a snow storm here in Illinois causing the post to become very slow. The check was a bankers check drawn on a Commerz Bank in NY. I had no trouble cashing it a couple of days later.

All in all, I think MoneyBookers is a very good option if you don't want to deal with Paypal. I recommend it.

And thanks to Stern for introducing me to an option for selling items on eBay and avoid Paypal

Cheers.
Teja

roscot · 12-29-2006, 04:24 AM

Thanks for the information guys. Sounds like an interesting alternative to PayPal.

-Alan

stern · 12-29-2006, 07:40 PM

this lens made it almost around the world... just sibiria is missing.

cheers to you all, teja and co.! happy 2007!!
- we europeans can party earlier than you... ;-)

stern

JCSullivan · 12-30-2006, 06:17 AM

Yeah but...this side of the pond stays up longer than you - especially the west coast - lol

stern · 12-31-2006, 06:25 PM

Originally posted by JCSullivan

Yeah but...this side of the pond stays up longer than you - especially the west coast - lol

and i'm still up! just opened a bottle of slovenian merlot!
cheers! i wish you a happy and successful 2007!

12-28-2006, 06:55 PM	#1
stern Senior Member Join Date: Sep 2006 Location: Vienna, Austria Photos: Gallery Posts: 112	review: transatlantic deal via moneybookers review on the moneybookers.com system just wanted to report on a successful transatlantic lens deal that started here. transferring funds from the EU to the US is usually rather expensive and forces americans to disclose their bank data (we europeans are already used to this...). paypal is a fine work-around if you are registered and are willing to swallow their fees... if not, here is what we did (no advertising - paypal would have been easier for me although less secure in my opinion): what we used was something called moneybookers.com which worked really fine. its a U.K.-based company that cooperates with oldfashioned banks in all EU-countries, the U.K., the US and the most other countries. as a buyer you have to register with moneybookers and transfer funds from your savings account to their local savings account and after a couple of days the amount is credited to your online-moneybookers account. the next step is to send the "virtual money" to the seller via e-mail who will receive an e-mail telling him/her that a payment arrived. next, the US-recipient has to register at moneybookers and ask for the transfer of the funds to his/her bank account or ask for a cheque to be mailed. in either way all flows of funds can be monitored which enhances security. fees: a max. of 0.50 EUR is charged from the buyer (if a currency conversion is included - as in my case - a 0.9% fee is added; but that is o.k. compared to what banks often charge...). on receival, the seller doesn't pay anything in case of bank transfer; OTOH, a cheque costs issuing and postage (appr. 4 USD). i was very happy with the service and the seller received the cheque within a week after i sent the e-mail from my mac in vienna/europe. as far as he told me, all was perfect. i'd give the moneybooker system a "highly recommended" for transatlantic deals! Last edited by stern; 12-28-2006 at 07:04 PM. Reason: more infos

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12-28-2006, 10:59 PM	#2
Teja Forum Member Join Date: Oct 2006 Location: Vizag Posts: 54	I will also add experience with MoneyBookers.com. I registered with them, it was quick and painless. But they put a limit of $500 or the amount you can send or withdraw in a month (I think). To remove the limit I can register a credit card, or a Bank Account or verify my address. I chose address verification, as that seemed most risk free. In three days I got a letter in the mail to the address I registered with MoneyBookers. It had code in it that I enetered on their website after logging in to my account. This verified my address and removed the restrictions on my account. Once Stern had uploaded his funds, he simply sent them to me at the e-mail address registered with MB (if you want to associate more than one e-mail ID with your account, you can do that too). I got an e-mail notification, and I logged in to my account to see that the funds are available for withdrawl. I was concerned about how MB would convert Euros to $$, and I can say they have been very fair - much better than Paypal. I actually ended up getting about $6 more than I expected - due the fluctuations in currencies between the day we agreed on a Euro amount and the the day Stern actually sent me the money. To withdraw the money I had to pay a fee of about $5 to get a check mailed to my address. If I had registered a Bank Account, then I could've withdrawn funds into that account for about $3. The cheque arrived a bit late - took about 9 days total. I guess the delay was due to a snow storm here in Illinois causing the post to become very slow. The check was a bankers check drawn on a Commerz Bank in NY. I had no trouble cashing it a couple of days later. All in all, I think MoneyBookers is a very good option if you don't want to deal with Paypal. I recommend it. And thanks to Stern for introducing me to an option for selling items on eBay and avoid Paypal Cheers. Teja

12-29-2006, 04:24 AM	#3
roscot Veteran Member Join Date: Sep 2006 Location: Virginia Beach VA USA Photos: Gallery Posts: 1,363	Thanks for the information guys. Sounds like an interesting alternative to PayPal. -Alan

12-29-2006, 07:40 PM	#4
stern Senior Member Join Date: Sep 2006 Location: Vienna, Austria Photos: Gallery Posts: 112 Original Poster	this lens made it almost around the world... just sibiria is missing. cheers to you all, teja and co.! happy 2007!! - we europeans can party earlier than you... ;-) stern

12-30-2006, 06:17 AM	#5
JCSullivan Veteran Member Join Date: Sep 2006 Location: Windsor, Canada Posts: 3,056	Yeah but...this side of the pond stays up longer than you - especially the west coast - lol

12-31-2006, 06:25 PM	#6
stern Senior Member Join Date: Sep 2006 Location: Vienna, Austria Photos: Gallery Posts: 112 Original Poster	Originally posted by JCSullivan Yeah but...this side of the pond stays up longer than you - especially the west coast - lol and i'm still up! just opened a bottle of slovenian merlot! cheers! i wish you a happy and successful 2007!

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