On Moneybookers, banks and RSGP.

PLEASE ONLY REPLY TO THIS THREAD IF YOU ARE VERY FAMILIAR WITH MONEYBOOKERS. OTHERWISE YOU WOULD BE WASTING YOUR TIME, MY TIME, AND OTHERS' TIME.

I have a Moneybookers account. I've set up a GP shop. I want to rake in profit, and I want to know the rates (because they're kind of vague on MB, and the email customer support is very... weak)

I want to know from other sellers' personal experience about linking it to a bank account. I am doing this because I don't want to get all my GP profits in Moneybookers and end up unable to withdraw the money through my bank.

I haven't linked the bank account yet to Moneybookers, and the following are my questions:

- Are there country dependant restrictions to withdrawals? [I am from the Middle East, Jordan to be specific]
- How long does it usually take for withdrawn money to be received?
- Since I haven't linked my bank account just yet, I don't know the process it takes me through. How does one verify their bank account with MB? (I know I have to put in the SWIFT code, but what happens next?)

Seeing as to how there are fees ALL OVER THE PLACE, it only makes sense for me to withdraw funds to the bank only when i rake in a LOT of money. These fees include: ~3USD from MB, 2% transaction fee, ~2% from the bank whenever I send/receive a payment, and a whooping 10% playerauction fees if im using that. This all makes investing in GP - especially with the way the current GP market is - hardly worth it.

But when I do the math at the very cheap rate that I am selling/buying GP, I'd make a shitton of money. If only I lived in the US/EU.

Here is how I have the conversion so far:

- Buy 0.5 Sell 0.55.

700USD would buy me 1400M, which when sold would get me 770 (this is ignoring the transaction fees). I'd say 70USD is really good if it weren't for all of those fucking fees.

Also, would Jagex catch on if there were a lot of money being trafficked on my main account? How do people usually keep money on mules? Should I use a VPN?

Thanks a lot for reading - and remember, please ONLY ANSWER IF YOU ARE CERTAIN OF THE FACTS YOU ARE USING.

 

- Are there country dependant restrictions to withdrawals? [I am from the Middle East, Jordan to be specific]
- How long does it usually take for withdrawn money to be received?

Takes me 24h-48h (Norway)
- Since I haven't linked my bank account just yet, I don't know the process it takes me through. How does one verify their bank account with MB? (I know I have to put in the SWIFT code, but what happens next?)
TO me they sent a charge i think and i had to verify the amount, also sent in my proof of adress and all that to get verified in the first place.

 

You should read MoneyBookers FAQ.

 

Thanks a bunch man. I think to avoid problems I will simply open up a bank account that is international (something like HSBC)

Yeah, because that's not the first place I went to ask. Spam much?

 

-Are there country dependant restrictions to withdrawals? [I am from the Middle East, Jordan to be specific]

Yes and depends on your bank.

- How long does it usually take for withdrawn money to be received?
Once again this is dependant on your bank.

- Since I haven't linked my bank account just yet, I don't know the process it takes me through. How does one verify their bank account with MB? (I know I have to put in the SWIFT code, but what happens next?)

When linking up your account to mb, mb will deduct a random amount from your account. You have to type in that random amount to get verified. After that, your sending and withdrawal limits gets increased.

 

Some have made it big in Sythe, and from the sounds of it you are from those who want to be like them - Listen to this:

Your buy/sell rate, even if it were to be an example is totally shit. All these guys with fancy online sites etc get RSGP from a source that is willing to go lower than the current buying price for RSGP merchers. They are able to get those low prices, because when you have a person who can provide RSGP, he will be looking for someone he can trust, and enough dough to buy from him whenever he has stock availible.

The reason they agree to sell their RSGP for low is because TIME is MONEY. It takes time to sell RSGP, it takes time to find legit buyers. Since it will take more time for them to sell their than stock than win in stakes or create it some how, they would rather stick to making it than selling it for market price for further profit.

Also keep in mind - buy in bulk, because bulk buying allows you to buy RSGP at slightly lower rates yet profitable. Other thing is try to be on top of things, and by that I mean try to be known and keep contact with people in sythe who can make order, and have name in RS markets. Shoutout and let people know you are buying, and make your own rates, but at the same time be reasonable to yourself, and the person buying/selling.

I understand you are from Jordan, which means you won't be making much profit... but you have to start from some where, and you never know, maybe you will find a way to ignore those costs or lower them. For now, let the ball roll, and forget about profiting. If you are keep worrying, nothing will happen and the more time you take in deciding, the longer it will take to get trusted and start making any profits.

TRUST SELLS IN SYTHE, that is how sythe is RUN!
Increase your trust, increase your profits.
or provide a rate with an OMM that will catch others attention, which isn't a possibility in your case.

 

Thanks a lot for the info, bro.

 

Just sell via free MM's or with trusted ppl!

 

It's not as simple as that. A free MM may scam large trades too.

Best to know the person a little bit more and trade with them. Contacts does play a huge role on Sythe too.