Moneybookers Withdraw to Indian Bank Account

Hi!

I am an Indian freelancer. I have a verified Moneybookers (MB) account. I have never used it though until now. With the new Paypal problems, I am thinking of using MB account to receive payments from my UK clients. My question is:

Can I use MB to withdraw funds to my bank account in India? Has anyone used MB to receive funds to his/her Indian bank account recently? Or do I have to use only its cheque facility to get funds from MB?

Thanks in advance, God Bless!

Regards

 

Yes i think you can but its bank wire transfer ...

 

Thank you for the reply. I really want to know if our Indian friends here are actually using MB to get money from their MB account into their Indian bank accounts through MB's SWIFT / Wire transfer. How many days it takes for the transfer? My SBI has its own SWIFT code, so does the wire transfer completes in 24 to 48 hours?

There is one more interesting question:

Can any person (a non-Moneybookers member) use some sort of method to pay through his CC for the services I offer without requiring him/her to becoming a MB member to effect the payment? Sorry for the noob-type question but I have clients who want to pay me through MB and help me out of the PP problems, but they don't necessarily want to become MB members to do so (pay me for my services by becoming MB members).

PP is causing trouble to these clients too, and I too do not wish to request them to pay me using a different method every time PP and RBI play their dirty ballgame.



Thanks again.

 

It's easy to withdraw funds from Moneybookers to your Indian account. Their verification procedures are very strict though. Here's a complete guide to using Moneybookers in India.

 

Wire transfer is expensive, instead use SWIFT method by registering the SBI swift code, ask your bank if they are directly connected to swift banking or not (Not all branches are connected) if not then they will give you another branch swift code which you should use for these transaction.

THe payment will take 3-5 days to reach in your a/c & service charges ranging from 25-150 will be deducted by SBI.

Yes a a non-Moneybookers member can send money via MBookers but its better that they get registered with MB else you never know when their or your a/c gets blocked.

Verification with MB is quite strict due to anti money laundering / terrorism funding drive, its quite secure & offers better conversion rate than paypal.

 

Oh! I was new to these info on MoneyBookers. Well, Now strongly thinking of making an account there. Will anyone say correctly whats the procedure of withdrawing money to Indian Bank Accounts from MB.

 

I transfered from moneybookers to AXIS bank successfully, add your bank account from my account. Should work perfectly.

 

Yes I'm the one who is using Monebookers form past 2 years to get funds credited to my SBI bank account. It will take up to 5 working days to the funds credited to your bank account. One thing if your account is maintained in USD then starting from January 2010 some intermediary banks are imposing $15 charge per withdrawal. So be aware of it.

 

@ Bhagwad: I read your article and I must say it's really great for those newcomers who want to learn about Moneybookers system. Keep up the good work, and many thanks for that information.

@ dhpd22:

Thank you for giving me the confidence! Also, I have a INR account with MB because I have clients who pay USD as well as GBP for my services. Although I never used the MB account because I was comfortable with PP, I am planning to shift everything to my Moneybooker now. I am fed up with PP and RBI sparring matches every few months. Both seem to be very unprofessional as far as the thousands of Indian freelancers and their overseas clients are concerned.

I have a SBI a/c too attached to the MB. BTW, I also have HDFCBank and UBI a/cs, but the SBI branch has its own SWIFT code so I think it would be a better option with MB. So my question is, how to verify it (SBI bank account) when we first get a withdrawal to it? Is it easy, esp for SBI accounts? How to get their 6-digit verification number from the bank?

If some one who has both SBI & MB can please give this information here, others can benefit from it and we can have an effective answer to the PP problems.


For other Indian banks with or w/o their own SWIFT code, how to verify the bank account without uploading funds to MB which may be quite expensive. The information would of course help all Indians in this respect.


Thanks again!

@ All others: Thanks a lot for writing. God Bless you all.

For Indian Paypal electronic withdrawals, there is a good news from Paypal:

I quote the email I got from PP:

We've received good news. You can continue to enjoy electronic withdrawals just as you did before.

While we have received your appreciation for the advanced notice and the refund of the cheque processing fee, we also have heard loud and clear that you highly value the ease-of-use of our electronic withdrawal service. Our customers are our number one priority and we are working tirelessly to improve our service.

Thank you for your patience and in appreciation for your continued support, we will still provide the $5 USD processing fee refund for any cheque withdrawals made from July 29, 2010 until further notice.

For any enquiries, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us' at the bottom of the page.


Thank you,

The PayPal Asia Team

Unquote

Please personally confirm the good news though.

 

They're always buggy with Indian users, I'd like to use any other Payment Processor instead.

 

I withdraw 600rs but,i didnt got funds in my bank yet.

 

today i placed a withdrawal of rs 4400 in my hsbc

can any one tell me when i will be credited??

and now the status shows pending when it shows completed??
how many days it will take??

 

They use a wire transfer to send funds to your bank, but they fee is 1.8E no matter what amount you are transferring, i transferred around 250e, and fee was 1.8E, so its pretty much better that wire transfer which would be like 20-30E no matter if you are transferring 50-40E.

 

how i know that the transfer has been completed ??

in mb a/c still it shows processed ,is this means completed???

 

you should check your bank account at next 3ed day {no government leave should be } . your bank account would be credited 3rd day sure

 

Can I transfer funds from my bank account to moneybrookers from India?