I never used Ikobo, but I wanted to have an account with them. After hearing lots of horror stories about them, I've just forgotten my idea. It's true that we can hear lots of stories about users complaining against each company like PayPal, 2Checkout and others, but I have the feeling many more complains have been made against Ikobo than any other one.
I too wanted to use Ikobo, but after reading so many bad reviews about ikobo, i decided not to even signup !!. Been using 2checkout for the past 3 years and happy with their services.
I signed up for ikobo some time ago but haven't ever used it. I did price it out once. To send $1,000 to someone, it would cost: ikobo has a $35 fee moneygram has a $60 fee western union $34.99 A friend of mine swears by it and will only use ikobo or e-gold to accept payments.
It depends of your usage, if it's to pay for a service online or send some money to a relative, but for the former, it can be cheaper to use a wire transfer in your bank. To send abroad I pay about a fee of $20 for around $630, the exchange rate is certainly also better this way. And at the same time I don't fear that my account could be frozen.