Dear Fellas, A few days back, I wrote to Money Bookers support if I can get its merchant account so I can receive payments via WHMCS. Well the status of my account was updated to merchant account a few days later. Last week, I received my first payment of $83 from freelancer. Now whenever I try to make a payment, it says that your money is in reserve account and cannot be used to make payments & your balance must be significantly above reserve amount to make payment. I searched this in google & found this in google related to reserve amount, I wrote to money bookers support twice, but no reply. Can anyone please tell me how can I receive money from 'money booker reserve' or when and how much payment will they release ? I am wondering if I would have received $1000, would they have kept all in reserve ? If I receive more payment, will they keep it too in reserve ?
Sorry, I don't have an answer for you but can understand your concern. Ask moneybookers and I hope you get a straight answer. I have had the same experience with plimus lately. After being with them since 2006, they decided to keep back 25% from my last month's earnings. I asked them how the reserve hold back works and they responded with a vague story which does not really explain much
I have not heard about reserve account so far. Â Try to find out anything about that on their website or FAQ.
Hey guys, this is the reply I got from money bookers, However, still being confused, I wrote to them, Please advise me guys ... I'm quite confused about this issue.
When you have been switched to a Merchant account automaticly you are able to accept payment through Moneybookers Quickcheckout this is why they reserve the amounts for 30 days of the payment. Because in Quickcheckout customers can pay you with a Credit Card without registering on Moneybookers and many times it happends that Moneybookers have recived the Chargebacks within 30 days this is why they reserve it for 30 days so after 30 days the payment will be deblocked. When you reach over 2500$ in your Moneybookers account on payments then they will ask you for extra autorisation and you have to send them your Incorporated letter and and and after that only 10% from the money you recive will be reserved.Â
Yes Moneybookers is a very good payment processor. Much better than a Paypal. We are also accepting Moneybookers as a payment option on our Webshop and never had problems with them.
I've never experienced that. All transactions went really smooth and never had any complaints about their service.