PayPal Vs Moneybookers and why Moneybookers Wins!

Here are the basic differences between PayPal and Moneybookers and why Moneybookers wins hands down.

1. PayPal sends money to India in INR via their indian holding company. Moneybookers sends money to India via a Swift Bank Transfer (also called TT).

2. PayPal has its own low exchange rates. Moneybookers uses the bank's the then current exchange rates which are significantly higher.

3. PayPal will always be regulated by the RBI in India. Moneybookers comes under the FEMA act as your are bringing in Forex into the country. You just have to state why the funds are coming in for. Allowed up US$25000 per transaction if it is for export of good without any documentation.

4. PayPal does not provide you an FIRC (Foreign Inward Remittance Certificate) to claim export benefits and VAT Refunds from the Government of India. When money comes from Moneybookers via Swift, the bank issues an FIRC which is required to be shown during VAT Refunds

5. PayPal will transfer money only at its whim. Anywhere between 5-15 days. Moneybookers remits within 24 hours (1 business day max). In banks like HSBC, the money comes within 72 hours from the time the remittance is requested.

6. PayPal only accepts payments via CC and PayPal Balance. Moneybookers accepts payments by offering over 80 different payment methods.

7. PayPal has standard auto responder emails which come as standard replies to queries. Moneybookers have real people answering you with real answers to every email you send to them. They also have real people answering your queries by phone.

8. PayPal only has a verified status that can be cheated using any VCC. With Moneybookers you only become fully verified when you send them a bunch of high resolutions color scans of various government and bank documents. To verify a Moneybookers attached bank account you have to send in an international wire transfer (TT) to them. Moneybookers does not rely on CC verification because it knows that the system is flawed because of easily available 5$ vcc's in the market.

Await your replies on the above.

 

Comments anyone?

How many here use Moneybookers and have or are in the process of shifting to Moneybookers from PayPal?

 

Never used Moneybookers and haven't heard of them, so wouldn't be tempted away from Paypal, as customers trust Paypal I think.

 

Customers from the US? Moneybookers is more popular in Europe!

 

I'm based in Europe and so are our customers. Never heard of Moneybookers.

 

I'm not sure but PayPal now-a-days is searching for account who has VCC on its which is now under their ToS for account verification. Also why I like PayPal because it is majority being used all over the world. With regards to moneybookers, yes its cheap and accurate somehow but its not being used mosltly by people today.

 

It's like what Microsoft did to the computer industry ! PayPal dominates the scene even it has so many shortcomings.

 

I would like to use both. PayPal preferred for small withdrawl specially plus many other reasons.

 

I'm always looking for a PP alternative. I'll have a look at moneybookers.

 

Too much India in that text... You're comparing Paypal and Moneybookers on a bias. Quite frankly India is neither China, nor Russia, and most importantly, not USA.

 

But PayPal have only one thing which make them better then Moneybookers and it is used by most of clients/buyers, so we have no other options.

 

This is the main reason , so we can't use any other Payment processor.

 

I use paypal for all my stuff.

They are pretty good to me.

 

I do not know about Paypal rates but moneybooker pays me full current rates. Their support team and response time as well as withdrawing is fast as compare to other payment processors i use.

Moneybookers support many countries compare to PAYPAL, but most of the people tend to use PAYPAL so without paypal freelancer life is like a hell.

 

This is Quite True

Whatever Sahibr said is true in an Indian perspective. I use both Moneybookers and Paypal and the major difference between both are professionalism and trust factor. It doesn't matter how big PayPal is, their poor customer support (I've called them and they are great. But through emails, you will never get answer for your questions) and unexpected surprises like blocking your account always make you take the next move with PayPal consciously. When it comes to MB, they ask questions first and make clear everything is right. Then only they allow transactions.

Moneybookers can't be used in USA for sending money I think. The biggest problem with Moneybookers is that many of y our buyers won't be using it. IMO, keep a Pioneer card, Moneybookers account and PayPal. I really prefer Moneybookers but always end up using PayPal since I am offered payments through MB very rarely.

 

PayPal messed up India withdrawals in Jan end this year. They were virtually closed for a good 1.5 months. Obviously this is going to be related to India!

 

paypal is just like windows, people use it.

 

i like paypal,but they have very high fees. if i send 100$ they have a 4$ fee ! that's huge

 

Well, the largest economy in the world is by far the United States. You can't talk money on a wolrd wide basisi without involving either the US or the Dollar or both. Moneybookers don't accept sending money to the US, that seals it for most. Ebay owns Paypal, and it's closely integrated into the auction system. Moneybookers nowadays have an option to sort of integrate into eBay also, but not as good as Paypal.

You can request to have your Paypal account in any one curency you like, say that you do most businesses in USD, then just ask customer support to change your main currency to USD and you are rid of all the conversions.

Paypal customer support is excellent. You just need to express what you need and they deal with it. You can not come around with cranky, half ass written poor "made-it-up-myself-English" and think that they will understand, they don't. Take some courses, educate yourself and make sure that you can express yourself in a well behaved manner. I've had over 20 paypal claims filed against me, won EVERY single one of them, I've filed more than 30 Paypal claims myself against other merchants and won EVERY single one of them. Sometimes Paypal wants a bankstatement or other verfication, scan it and send it to them and things are good to go again.

Money bookers hae limits, how much you can send per transaction and how much yu can send per 90 days. There are no such limitations in Paypal. Paypal also accepts transfers from bankaccounts, called "top up" and then you enjoy no transfer fees!

But don't come around whining again, it's a free choice to use Paypal or not, you don't have to. You could try dabbling with international bank transfers, with their hefty fees and errors, and when you're tired of that, you'll come back, crawling on all fours, praising your Paypal account for its ease of use and low fees.

Read up, before you open your mouth next time!

 

I think it depends on where you live. Non of the services work here in Argentina