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Moneybookers is a trusted leader in the e-wallet and banking industry specializing in secure online transactions. The company boasts over 14.7 million accounts servicing customers and businesses from around the world. Moneybookers prides itself on stringent security and anti-fraud measures. Users are required to provide identity verification (through suitable documents) before access to the service is permitted. Once verification is approved, customers can quickly and efficiently move their funds. Moneybookers has been in business since 2001 and is currently owned Investcorp Technology Partners. The company is registered in the UK and Wales and regulated as an electronic money issuer by the UK Financial Services Authority (FSA).
Moneybookers allows customers to send money to anyone with a valid email address - even if the recipient does not have a Moneybookers account. Once notified, the recipient will be required to create a Moneybookers account and then provide identity verification. Once verified, the recipient can elect to withdrawal from Moneybookers, or use those funds for any number of online transactions. Account creation is free.
Uploading cash to a Moneybookers account is typically done either through bank transfer or credit card. Depending on the country of origin, players may have alternative options available for uploading cash (Maestro, Giropay, Poli, Nordea, to name a few). Over 30 countries are supported, making Moneybookers one of the most comprehensive online payments solutions available. Uploading to Moneybookers is free when using bank transfer and only 1.90% of the total sum when using credit cards. Fees using other available options vary but do not exceed 2.50%. Sending funds to other Moneybookers accounts and/or emails is charged at 1% up to €0.50.
Withdrawals can be made to a nominated bank account, by cheque or through VISA credit card (country dependant). Fees are charged at a rate of $2.60, $5.10 and $2.60 respectively. A currency conversion fee is charged (1.75%), in addition to the going conversion rate if funds need to be switched between currencies.
Moneybookers boasts over 12.5 million account holders, using the payment service to fund all online transactions. Moneybookers can be used at a great number of stores and can also be employed for some more unusual purchases (online gaming, MMORG’s and foreign exchange websites). The flexibility of Moneybookers gives players greater access to more stores and more solutions online. Moneybookers has also established special depositing deals with a number of online poker rooms and casinos, allowing players to take advantage of exclusive deposit bonuses for simply electing to deposit through this service.
The Moneybookers service was designed to meet the same rigorous security requirements found on banking and other financial websites. 128 bit SSL security, certified by VeriSign provides industry leading security of user’s personal details and financial information. The addition of stringent anti-fraud measures (identity verification) helps ensure that Moneybookers is not only a convenient and easy way to fund online poker, but also secure.
Moneybookers is offered on most online poker rooms (nearly all that are listed on PokerNews accept this method for sending funds). The addition of special deposit bonuses when using Moneybookers provides players with an additional reason to fund their online poker accounts through Moneybookers. Focused on the European market, Moneybookers is placed in prime position to offer online poker players strong, continued and secure service.
Feedback has occasionally been mixed - especially when it comes to withdrawing funds from a Moneybookers account. Users have complained about the lack of sufficient conflict resolution, the perceived overbearing nature of the identity verification process and the slow and lackluster performance of customer support.