MoneyBookers Part 1

    At the request of the audience, I am writing about working with a payment system like MoneyBookers , which, in my opinion, is very promising in the CIS .

    I’ll make a small reservation right away - I’m from the vastness of Ukraine, so my experience is mostly connected with this country, but as far as I know, the system works identically for Russia as well.

    And yet, I decided to "start all over again", i.e. something like "MoneyBookers for Dummies", so if you have been using the system for a long time, then it is unlikely that you will be something new.

    What I want to note is that although the system is mainly oriented to the UK and Europe, it is not very badly localized for us. The site has been translated into Russian (in some places it’s clumsy, but everything is clear enough). They also have a Russian support, which competently enough answers your clauses. That's just the speed is sometimes lame. You can wait up to a day for them to answer your letter.
    Also during verification, if they call your phone, they also speak Russian.

    And it’s just necessary to note that the system is already very paronoid in relation to the entered data, sometimes even too much. So be careful when entering each character, since in many cases it is not possible to change some data without additional. request to support. And after the change will require re-verification.

    and the account in the system is not a bank account.


    Consists of 4 steps.

    In the first step, you will be asked to enter your email and password. Email will be your unique identifier in the system and with it you can accept payments.
    It is also necessary to remember that the system allows you to have only one account per person / legal entity. If it so happened that you have more than one account, then one (and possibly both) can block and then have to painfully correspond with support and explain why. But if your accounts have not "fouled" (for now), then it is better to merge them into one through the procedure for merging accounts within the system.

    Next, when choosing an account type, you must specify who you are - physical. or or jur. face. Actually there is no difference in the operation of the system from what you choose. All calculations will be conducted either from individuals or from legal entities.

    Place of residence - write NOT where you actually live, but where you receive some bills or where you are registered. What they write in tips about replenishing the account is nonsense. The fact is that when validating the account, they will send you a letter with a code at the address you entered, but in addition to this, they may ask you to send scans of your passport with a residence permit, as well as some invoices in your name over the past 3 months. Ideally, you live at the place of registration. But if you changed your place of residence, it would be better if all the correspondence went to the same address and there was someone who could send you this correspondence.

    You should also think in what currency to open an account. Only one account with one currency can be entered into the system. Therefore, approach this issue carefully. The system will be able to accept money in any currency by converting it into the currency of your account at its internal rate, but there may be problems when withdrawing money to a bank account or card. At me, Alfa Bank did not want to accept euros into a dollar account, the money returned to the MB a week later, but the commission was gone. Although I did not observe this with Privatbank.

    This is followed by verification of electric mail and the entry of personal data. It seems that there is nothing military except that everything must be entered in Latin , and once again I note that everything needs to be entered carefully and truthfully.
    Further confirmation, acceptance of the rules and cheers! Account created.

    We are inside, what's next?

    By default, you have a limit of 1000 selected units for withdrawing money. But do not be very happy, you need to start checking your account immediately. If this is not done, then after a while the system will block your account and you will not be able to withdraw or send money. To validate the address, you will be sent a letter by regular mail with a code inside. The code will need to be entered in the system. The letter is sent by royal mail, so it travels comfortably and quickly enough. For 4 days I came to a province called Alushta (for comparison, the same, or even more, is a letter in Ukraine).

    Adding a card
    Nothing military - fill in all the data (the card must be issued in the same name as your account).
    The card must be open for online transactions. Card verification takes place like this - they withdraw a certain amount from its account (1.01 - 2.99), and you should look at the bank how much they have withdrawn and enter this amount in the system. Then this money will be written to your account. If your card currency is different from the currency in the system, then the bank must support automatic money conversion, otherwise the transaction will fail and MBs may block the card.

    After card validation, your limit will be increased.
    You can add multiple cards. All of them must be validated.

    Adding a bank account
    Choose a country, enter the SWIFT code (can be obtained on the website of your bank). And the system itself determines your bank. Next, enter the account number and that's it. The bank account also needs to be verified in order to raise the limit and in order to withdraw money.

    Deposit, withdrawal and sending money in the system

    To transfer money to the system account, you must have a verified credit card, or make a transfer from a bank account.
    In the first case, the system will automatically debit the money from the card and take a 1.9% commission per transaction. With a bank transfer, the commission is not charged by the system, but you will pay a commission to your bank as for transferring funds abroad in accordance with the tariff of your bank.

    To withdraw money, you must have a certain amount in your account, otherwise you will not even be shown a page with a withdrawal of funds.
    When withdrawing money to a bank account, a fee of $ 2.55 will be charged. (not a percentage!). If you have several bank accounts in the system, then withdrawals of more than 350 euros to a non-main account will be subject to a commission of 3.5 euros.
    If you want to withdraw money to the card, then this should be only a visa. Commission 2.55 USD and fixed.
    (you need to familiarize yourself with the tariffs , as for some countries they vary)

    To send money to another account, it is enough to indicate the amount in the selected currency, as well as indicate whether it will be periodic payments (monthly) and whether it will be an escrow payment - i.e. you send money, then you receive the goods and only then the money is released for the recipient and he physically receives it to the account. A large commission is charged for this. Next, indicate the recipient's email, subject, explanations and the money goes.
    It should be noted that if you send money to a person who is not registered in the system, they will still be accepted for sending, and an email will be sent to this email with an invitation to register and receive the money. From this it follows that it is necessary to carefully enter the electric mail so as not to be mistaken. Although the system will scream that there is no such box, it is better to check 2 times.
    If this box does not exist even on the network, then after several unsuccessful attempts to send mail, the money will still be returned to you, but minus the commission.

    You can also send a bulk payment to a whole bunch of addresses. The principle of operation is the same. The rates are the same.

    In general, their tariffs are quite loyal, they charge 1% for transfers between accounts but not more than 0.80 USD.
    Replenishment and withdrawal are also quite loyal. When withdrawing a fixed amount, it is therefore better to withdraw immediately in large amounts, of course, depends on your limit.
    Money goes to your bank quickly. Within two days they are already in the bank, but the rest already depends on the bank itself. In Privat, I received money for 3 days in a bank account. Over 2 per card.
    At Alfa Bank approximately + another 2 days. Apparently the bank itself is doing something with them. Well, given that all world dollar transactions go through America, delays are also possible there.

    These are the main points I wanted to write about the operation of the system. Probably this time I will round off. Soon I will write another article on how to connect my site to receive payments (unless of course it will be interesting)

    Thank you all.

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