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Old 10-14-2010
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Default My First MONEYBOOKERS sales - I will keep everybody updated!

I am starting this thread because there are no definitive threads on Moneybookers, how they work and if it stacks up well to PayPal as a viable alternative.

I got my first 2 Moneybookers sales EVER today. This is on a new stealth account with 1 feedback. Sales were almost $500 total.

I just said in the actual auction itself that " I take direct credit cards through the secure eBay approved merchant account, Moneybookers, you do not need a Moneybookers account, just a credit or debit card"

Remember:
1. MONEYBOOKERS WILL HOLD YOUR $$$ 40 DAYS if you have a low eBay feedback number.
2. They only allow you to have one MB account.
3. You cannot "renew" your token to another eBay account, once they are linked, that's it
4. If you do want to link a MB account to another eBay you have to email MB and tell them what you are doing. (They will tell you to open up another MB account and they will transfer your info to the new account.
6. Buyers love PayPal, but if you have a hot product and a good price, they will use Moneybookers if that's all you offer.
7. They DO NOT share info with eBay, so stealth is fine.
8. They are an actual regulated company. They do not "limit" your account.
9. You have to provide all your info, like SSN, upfront.

I guess I have to wait 40 days for my first payment from them, so it may be sometime before I am able to update everyone with their payout info.

I will also keep this thread updated if anything new comes up.
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Old 10-14-2010
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Quote:
Originally Posted by smithgroup View Post


1. MONEYBOOKERS WILL HOLD YOUR $$$ 40 DAYS if you have a low eBay feedback number.
.
Thats interesting. I use moneybookers on one of my sites, not eBay, and I have access to the cash immediately. Right from my first sale. $1000s and $1000s and never a single hold and always transfer it out immediately.

They must not trust eBay. Or eBay has forced some kind of chargeback policy with them. 40 days is yucky. But its good to see people are opting for it. Were they international sales?
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Old 10-15-2010
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Default Moneybookers

I use MB and so far have no problems with them. The biggest problem is getting people on Ebay to pay with them. As you cannot leave negs for buyers they have no fear and try and bully you into taking Paypal. I have tried many incentives to get people to pay with MB but still only approx 1 in 10 do and it is hassle all the way. The problem is not with MB, the problem is the way Buyers have been brainwashed.

I would be interested to hear how others are getting Ebay buyers to pay with MB ?
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How about if I get second payment? Than will be 40days hold?
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Old 10-15-2010
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These are the Moneybookers BS reserve amounts:

FEEDBACK / Settlement period / Rolling reserve % / Period
< 50 / 10 /100% /40 days
51 - 100 / 5 / 100% / 40 days
101 - 150 / 3 /75% / 40 days
> 150 2 50% 40 days
Bronze / 3 / 25% / 20 days
Silver / 2 /10% / 10 days
Gold / 2 / 5% / 10 days
Platinum / 2 /5% / 10 days
Titanium / 2 / 5% / 10 days

Hopefully you can understand my chart.

I don't really understand why they have a "settlement period" of 10 days for accounts with less that 50 feedback. Does that mean that I have to wait a total of 50 days for my money? 40 + 10?

This is worse than CCNow!

EDIT: The chart looked a lot better before I submitted the post.

here is a link to the chart directly on the MB site:
moneybookers.com

You have to scroll down to section "6"
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Originally Posted by pod View Post
Thats interesting. I use moneybookers on one of my sites, not eBay, and I have access to the cash immediately. Right from my first sale. $1000s and $1000s and never a single hold and always transfer it out immediately.

They must not trust eBay. Or eBay has forced some kind of chargeback policy with them. 40 days is yucky. But its good to see people are opting for it. Were they international sales?
I think it is similar to the way PP handles eBay auctions: If you sell from your own site, its all good. If you sell from eBay, 21 day hold.
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Old 10-15-2010
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Yes, MB holds because of the notoriety that eBay has for fraud and chargebacks - makes business sense.
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Old 10-15-2010
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Quote:
Originally Posted by smithgroup View Post
This is worse than CCNow!
You would probably have better luck using ccnow as it has paypal. And after account is rolling its only 2 week hold. But the fees are pretty high with ccnow

Not sure on eBay sales, but moneybookers only charges me 1.9%. Thats pretty nice. But 40 days is a long ride for ebay sales.
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I've been using moneybookers for about 2 weeks now and it's working fine. Of course it's not as easy as paypal since all the buyers think its either paypal or nothing. I actually like Moneybookers except about 10 out of 1 buyers email me saying that when they enter their credit card number to pay, they get "transaction failed", they try multiple times but payment doesn't go through, they email me saying their bank account is showing that they were charged even though moneybookers gave them "transaction failed", they will eventually get their money reversed back to their bank account but it's very inconvenient for me and the buyers, i asked moneybookers what might be the problem but they just tell me that my account is in full working status and shouldn't have any problems.... weird

moneybookers hold 50% of my money for 40 days and the rest transfers into my bank 2 days after payment received, kind of feels like a short term savings account lol helps me save money actually, i like how i don't have to worry about withdrawing money like paypal thinking i might get limited


on bottom of my ebay listings i put a thick bold sentence saying i only accept moneybookers and a video clip of how to pay via moneybookers to help buyers understand the process a little better



overall sales aren't as high and fast as it used to be with paypal, shipping labels and tracking has to be manually updated, its hard to find which payment came from who as ebay doesn't have a direct link to moneybookers history/payment received page, even on moneybookers site you can only see a very short detail about what was sold and only the email of the buyer so its kind of annoying when you are searching for previous payments to issue a refund.


of course it doesnt operate like ebay & paypal duo but if you can't use paypal like me, this is the next best thing, hope my comment helped some of you guys
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Old 10-15-2010
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Quote:
Originally Posted by jkim View Post

they get "transaction failed", they try multiple times but payment doesn't go through,
I've noticed a lot on moneybookers payment problems because they are in the UK, sometimes card blocks payment thinking its bogus or something.
And it does suck. Some buyers freak out like they have been charged and want order. They dont realize it will make it back to card at one point
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Quote:
Originally Posted by pod View Post
I've noticed a lot on moneybookers payment problems because they are in the UK, sometimes card blocks payment thinking its bogus or something.
And it does suck. Some buyers freak out like they have been charged and want order. They dont realize it will make it back to card at one point

yeah thats the only problem i have with moneybookers, i would too, their payment gets denied but was charged in their account, this also makes them think it's a fraud since they are unfamiliar with this payment method, i have to explain to them that its one of ebay's recommended methods along with paypal bla bla to calm them down
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Old 10-15-2010
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Quote:
Originally Posted by pod View Post
You would probably have better luck using ccnow as it has paypal. And after account is rolling its only 2 week hold. But the fees are pretty high with ccnow
I use CCNow as my primary payment processor for all my accounts, I just put Moneybookers on eBay to bypass the PP requirement.

I NEVER thought people would actually pay using MB, most of the time people will ask me how to pay with PP and I explain CCNow.

I also found some really cool ways to do things to do with a mix of MB/CCNow/eBay/PP but that info should probably go in the subscribers forum (unless it's already in there, maybe in 40 days when I get my $$ from MB I'll be able to afford to see this mystical section).

BUT I'm way of topic now. Back to JUST MoneyBookers!
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Quote:
Originally Posted by smithgroup View Post

I also found some really cool ways to do things to do with a mix of MB/CCNow/eBay/PP
Info is always welcome. Start a thread for sure.
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Old 10-16-2010
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I find money bookers really good, i have been with them years now with a personal account and a couple of years with a business account that i use on one of my websites, one thing i like is that if you request it they actually protect you against charge backs, infarct they swallow them for you only so many a year though

checkout all the gambling/bookies sites, the world biggest brokers accept them, anyone that does carpet bagging will have an account or pretty much anyone that gambles will use moenybookers especially in Europe, i would say thats been there main stream of revenue for years and now.


I'm not sure anyone will remove paypal totally but i think moneybookers will be the real alternative, its just how quick the word spreads as to how quick that happens.
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Old 10-16-2010
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Yeah if it works as good as everybody says, we should all at least offer it as an alternative to PP for our customers. Even if they don't use it, at least the name "MoneyBookers" will be getting out there more.

I think MB is doing the right thing by letting people just use their credit cards directly and not having to sign up for a MB account. If you let people know that in your auctions, they may be more inclined to use it.

Last edited by smithgroup; 10-16-2010 at 03:23 PM.
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Old 10-28-2010
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Just a quick update:

I emailed MB and asked them do I have to wait a total of 50 days for my money?

This is what they sent back (about 11 hours later, so not too long):

Thank you for contacting Moneybookers.

In regards to withdrawal of funds, please note that all payments are settled only automatically a certain period of time after they are received. Detailed explanation on how different settlement periods is listed in article 6.4. of our merchants terms of use here: https://www.moneybookers.com/app/help.pl?s=mterms. For your account the reserve amount is 100% and reserve period is currently 40 days, which means that funds will be sent automatically 40 days after they are received and you would have them in your bank account 1-2 business days after that.
After establishing a processing history with Moneybookers over 2-3 months, the period can be reviewed manually if requested and subsequently reduced.

Should you require any further assistance from us or in case any queries should arise, please do not hesitate to get in touch with us again instantly.

Kind regards,
Moneybookers Merchant Services
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wow i should ask them too, they current hold 50% of my money for 40 days because im not a power seller, ive been using MB for about a month now so I should email them soon


Quote:
Originally Posted by smithgroup View Post
Just a quick update:

I emailed MB and asked them do I have to wait a total of 50 days for my money?

This is what they sent back (about 11 hours later, so not too long):

Thank you for contacting Moneybookers.

In regards to withdrawal of funds, please note that all payments are settled only automatically a certain period of time after they are received. Detailed explanation on how different settlement periods is listed in article 6.4. of our merchants terms of use here: https://www.moneybookers.com/app/help.pl?s=mterms. For your account the reserve amount is 100% and reserve period is currently 40 days, which means that funds will be sent automatically 40 days after they are received and you would have them in your bank account 1-2 business days after that.
After establishing a processing history with Moneybookers over 2-3 months, the period can be reviewed manually if requested and subsequently reduced.

Should you require any further assistance from us or in case any queries should arise, please do not hesitate to get in touch with us again instantly.

Kind regards,
Moneybookers Merchant Services
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Old 11-27-2010
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Got PAID!

I got my first payout on Nov 17th! I should be getting my next one in a couple days.

MB seems to be a fairly good option for those that can wait a few weeks for their money, or have high feedback (so there is much less waiting).

I love the automatic withdrawals, no worrying about limitations and reversals when you wake up the next day like PP.
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Old 11-28-2010
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Glad to hear that you got your money! Keep us posted if you run into issues with them.
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Old 11-28-2010
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Do you have to wait 6 weeks to get money from every sale? Man thats a long time.

Are you using them just to avoid PayPal are are there other advantages? I cant see waiting that long
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Old 11-28-2010
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yes at first you must wait 40 days, great thing is you get your money everytime, and no chargebacks, heres why, if people dispute an item from you, 99% of people file it through ebay under their buyer protection, at that point you untick the moneybookers box connected and linking it to your ebay.. ebay eats the buyer protection pays the buyer back or whatever, you call moneybookers and tell them you want to use your moneybookersaccount on a different ebay user id,, then will allow you to link it to the new id immediately..
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Old 11-28-2010
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I cant see that working in practice. eBay must know the payment went to moneybookers, no? They were at one point linked. If eBay wanted to collect they would go after that MB account. The whole point of that long wait is to protect against chargebacks. If chargebacks were that easy to skirt, eBay would toss MB to the curb
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