My experience with all the money exchanging websites (Paypal/Moneybookers/Alertpay/GC

I've been trading on market websites for two years now and some change. I started off on powerbot and eventually went to sythe and mmoexchange.

What I'm about to write about is my experience and mistakes with these money exchange (call them what you will) websites, which are mostly used for transactions on these market sites.

Let's start off with big old Paypal.

Paypal out of all these websites is mostly used from my experience. They are a very big company that use government tools (US) to monitor accounts. From what I'm aware of is that they have a 'contract' with the US government that allows them to monitor and verify information of their users (similar to banks). With this you cannot lie to paypal when it comes to Name, address, ssn and such. However Paypal will only review you if you get flagged for transactions/suspicious activity. An example of this would be someone charging back/disputing a transaction. Those set off flags on your accounts, (as I've had my fair share of limited accounts). The best solution would be for you to get a student account from your parent's paypal if you're under 18. Keep in mind I have over 5 Limited accounts over the 2 years and I have never used my name or IP for these accounts. Now I have a legitimate paypal that I have verified with ID, SSN, Banks and such.

Enough of my story, I would like to point out the Pros and Cons to paypal as there are many.

Pros:
*Everyone uses it, very convenient
*Easy to create an account and send within minutes (un-verified)
*provide buyer/selling protection on tangible goods (Doesn't apply to Virtual Goods)

Cons:
*Provides very little/no support for virtual sales
*Higher fees than others ( moneybookers takes a lot less fees than paypal)
*very easy to get limited/subject to verify identity

Tips: I highly suggest that you do not receive or send gifts, paypal looks at this as 'taboo' sort of speak, they don't make any money off of gifts and that will limit your account eventually (happened to me and others)





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Moneybookers: I have lots of great things to say about moneybookers, I will update this thread In a few days with more reviews/updated information

My review of Moneybookers:

I created a moneybookers about a year and a half ago (I was 17 at the time, So i put my date of birth one year earlier than It should've been so: XX/XX/XXXX-1, Day and month were inputted correctly, so was my address and all other information. Lo and behold eventually moneybookers froze my account and requested the upload of my State Identification Card, I didn't have one since I was not 18 at the time yet. So the account just sat there for about a year and a half. When I turned 18 and got my ID Card, I uploaded my ID and I got this message: "it seems that you were underage upon the creation of your account, we adjusted your date of birth and unfroze your account, have a nice day". This surprised me and now I have no problems with moneybookers and I got the money from my account. I enjoy their low fees and convenience and security.

Pros:
*Extremely secure, it is hard for fraudulent accounts to send money due to the high security implemented in moneybookers.
*Very low fees, with a 1-2% sending fee, with a maximum cap of 0.50 Cents (Keep in mind I am a US resident and it may differ in the EU, since moneybookers is based in the UK.
*No dispute button, If you want to dispute a payment it would have to go through your bank or credit card, which makes it secure for the receiving party if balance funded.(Great for trusted sellers)(bad if your doing risky trades with low vouch sellers)
*I have no problem using moneybookers now as soon as I simply uploaded my ID.
* they are a great company with amazing customer service

Cons:
*For legal reasons moneybookers(skrill) has disabled the upload money to your moneybookers account from bank/credit card in the United States. Which makes it very inconvenient for people in the United States that want to use moneybookers. (hopefully they will resolve this soon)






* If anyone has any information to be added or I put out any misinformation, inform me, and I will

 

This is great common sense, but as far as the 'contract' portion goes. That makes sense, but where exactly did you read about their contract with the U.S. specifically? Honestly it seems like such common sense but I'm curious enough to ask anyway.

 

When I called a day ago, asking about this 'partial' limitation they gave me, I asked why? It was because they couldn't verify my identity (Note: that I have changed my address recently, this is probably why as i didn't go to the DMV yet. Continuing, I called and she told me if I updated my license and what not she can deal with the limitation over the phone with their 'government tools' but she did however verify my address just by knowing my name. Probably because I'm dependant of my parents.

By 'government tools' I would like to say that the US government has given them tools to verify identities similar to banks. (Wouldn't be a surprise if they had lobbyists achieve this).

 

so what do you do once your paypal is limited and they say they no longer want to do business with you, but won't tell you why?

and why did so many of your paypal get limited, were you able to unlock them or did they give you the same bullshit about being "high risk?"

 

"Limited" is a title you receive whilst creating a new Paypal account as you have not verified the account quite yet. Thank you for sharing that information Star_Scream, that was quite an interesting mouthful of words she had to say.

 

If they no longer want to do business with you then they counted you as a 'high risk customer' and would essentially limit any accounts you would make from your ip/name.

 

I agree that Paypal charges fees out of there ass, but there service is easy to use and almost every online vendor accepts them. You can also get a Debit and/or Credit card with them, so its almost like a bank thats online and much more easy to use then a regular bank.

that is my 2 cents anyway.

 

Moneybookers allows you to do the same, and sorry I haven't had time to post my experience/review of moneybookers yet. I'll be posting it soon.

 

Yeah, but Moneybookers charges an annual fee for there debit card, Paypal gives you 1% cash back on your purchases and no annual/hidden fees.

 

I never even considered using them as a debit card, I use my own debit card and I'd use my credit card if I wanted cash back (1-5%)

 

Paypal Update: They limited my account requested ID, SSN, Proof of address, after a few days, I sent in Limit fully lifted. Customer Service/Limitation department were quite nice about it.

 

I recently created a Paypal account and none of this information was requested from them, what are your thoughts?

 

This happened 3-4 weeks after creation, and as for the reason, I may be racially profiled, name is Mohamad. lol

 

Moneybookers review posted