Moneybookers eWallet Review
- It has a “Refer-A-Friend” program
- Deposit could be made speedily
- Absolute client privacy
- E-mail address needed only
- U.S residents not accepted
- Below average customer service
- 48-hour process for verification now and then
The headquarters of MoneyBookers as an online payment solution is in London. To date it has well over 5 million registered clients and growing its logo is “Your wallet for the internet.”
Various transactions can be done by e-mail such as transactions from clients to merchants, clients transferring cash to their bank accounts as well as payments received by clients.
Moneybookers is hailed as the “true global payment solution,” Clients are welcomed from the UK, Europe and from all across the globe (subject to regulatory restrictions).” Transactions are processed in real-time. As a result, it wasn’t long before gaming operators started making using Moneybookers as an alternative payment solution.
In the United Kingdom, Moneybookers is registered with the Financial Services Authority and its role is as follow:
- Capital requests & liquidity
- Float Management
- Management & Vetting at Entry
- Systems & Controls
- Money Laundering
- Curb on Business Activity
As long as you have the recipient’s e-mail address you could send cash, receive and transfer it to and from your bank account. Through MoneyBookers items could be purchased online and credit card details are not required. Security also enjoys high priority further nurturing client confidence.
Envisage the simplicity of setting up a gaming account at an internet casino using Moneybookers. Although peer-to-peer transactions don’t influence the business between you and the internet casino, there are many alternative features available with Moneybookers.
Ensure that there is cash in your Moneybookers account. Cash could be transferred through a bank account. The following could be used to transfer cash to your MoneyBookers account: credit cards like Visa, MasterCard, American Express and Diners Club. Transaction fees are small amounting to 1% a maximum of 50 Euros and there aren’t any fees that could be received via the system. Clients are provided with a step by step explanation how to correctly withdraw cash by country accessible on the website. Once there’s cash in your account, you can then start funding your casino account.
Customers from the following countries are not allowed to make us of MoneyBookers: the U.S, Turkey, Israel, China and Malaysia to fund their internet casino accounts: the U.S, Turkey, Israel, China and Malaysia.
MoneyBookers’ customer support is available from Monday to Friday from 9 AM to 6 PM GMT. A “Messaging Centre” is also on hand where customers can e-mail them with any queries or assistance.
Credit cards are still the preferred method of a payment on condition the purchase through it could be facilitated. But players are wary of the fact that their privacy might be at stake since all credit card transactions are linked to a bank. When clients opt this route they must realise they will be investigated, especially if it’s an international cash transfer. Credit card payments are closely monitored especially if large amounts of cash is at stake.
This is the case in the U.S where we have the Patriot Act and the UIGEA (Unlawful Internet Gambling Enforcement Act), potentially these pieces of legislation empowers the government to force banks in the U.S to divulge certain information about their clients, this is done under the auspices of fighting terrorism.”
The player who wants to effect a financial transaction with internet casinos is looking for alternative payment methods in order to guarantee optimum privacy. This is where the electronic wallet comes in; it acts as a conduit between the player and the internet casino thus safeguarding the player’s right to privacy.
The positive side of matters is that government agencies don’t have the same clout as in the case with credit cards over these companies, besides a large proportion of these companies are headquartered in an area where internet gaming is controlled and regulated. A good example of this payment facilitator is MoneyBookers.
Not so long ago companies like PayPal had their headquarters in the U.S. Due to the UIGEA and political pressure they were compelled to exit the U.S market. Moneybookers is one of the globe’s biggest sovereign cash transfer business, it also had a strong presence in the U.S but became suspended for domestic gaming transactions and its accounts were frozen by the government. For the time being Moneybookers decided to stay out of the U.S market.
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