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Tuesday, December 27, 2011

Skrill (MoneyBookers) Complaint: It Is Not a Better Alternative to PayPal


I made a blog post about how I loved MoneyBookers’ services. But that was before. 
 

I now abhor Skrill (MoneyBookers) because of the following reasons:

  • Lowest exchange rate. Before, the exchange rate between the American dollar and the Philippine peso was slightly higher than PayPal.  My last transaction was a pain in the arse. Skrill’s currency converter was way too low. Case in point: $1 =PHP38. The BSP exchange rate that time was $1: PHP42.
  • Longer time frame. Before, bank transfer only took 1 ½ days, even if I withdrew money on weekends.   With my last transaction, I waited 4 BUSINESS days before it reached my bank. With PayPal, the time frame for money transfer was always 2 days.

If you are planning to use Skrill (MoneyBookers), you should stop and think twice. Even though its bank transfer fees are lower than PayPal, it is not worth it, considering the above mentioned reasons. Better stick to PayPal and endure its high fees.

Other topics of interest:
Moneybookers: Is It Better than PayPal?
Moneybookers: How to Verify Account?
Sump Pump Installation: How to Properly Install It?
Mini Cooper Versus Suzuki Swift: Is Suzuki Swift a Copycat of Mini Cooper?
Super Cheap Car Covers -- I Need One

Reactions:

9 comments:

Thanks for sharing, I'll take note of this. Happy New Year!!!

In addition, the amount you upload (deposit) to your Skrill account or withdraw from your Skrill account and back into your bank or credit card will not be the same as what you requested. Reason is because each and every transaction there will be hidden fees/charges which means you will always end up with less money in your pocket or account in this case. I recommend not using Skrill.

They charged me $27 from $200 during withdrawal.BE AWARE !!!

If you are a merchant its worse.
What they don't tell you when you sign up is that as soon as you hit around 2500 euro in transactions they will lock your account so you can't withdraw any funds you have received in the last 30 days (30 day reserve) but they only give you 5 days notice of this lockdown so they basically guarantee that you will get money trapped in the account.

They then send a demand for a huge amount of company info to "verify your identity" and will not release the funds untill they have what they want. These include company registration details, turnover, share holding and copies of identity documents such as passports etc. This is apparently to comply with the money laundering laws which I totally agree with and would happily comply with normally however they also sneak in two extra documents that have nothing to do with those laws but that you still must sign if you ever want to see your money again.
These two extra documents are a new contract and a new rates table that changes your 30 day 100% reserve to a 180 day 5% reserve. meaning that now they can cold 5% of your turnover for 6 months.

I can understand identity documents needed to comply with the money laundering laws but when you are forced to also sign changes to contract terms and rates tables or you will not ever get you money back then that is nothing short of extortion in any jurisdiction anywhere in the world.

If you try to email them and sort it out you either just get a repeat of the demands or no reply at all.

If you cancel your account they still will not give your money back untill you provide all the documents they want and when you do provide them all they then impose the changed terms you were forced to sign and hold you money for 180 days instead of the 30 you originally signed up for.

How can a big company like this get away with such unethical practices and how can they use extortion to force merchants to sign changes to contract terms with apparent impunity.

Can anyone confirm if this is really true? If that is true then I would just stick to PayPal.

Dear MD UDDIN,
We are contacting you in regards of the status of your Skrill account.

Please be informed that the funds have been sent back to [johncreedon@talktalk.net]
and
[sig15121963@gmail.com].

Your Skrill account has been closed. Please note that these decisions are final and are not a subject of further negotiations.
If this does not solve your issue – simply reply to this email.

Kind regards,
Gerry

My opinion:
the above message that was sent to me was not a skrill server generated message, it was sent by the skrill support team. it means they did not sent back the money to the sender.

Skrill do not allow to upload fund without verification so no unauthorized payment is not possible in skrill. So it is absurd to send back the money to buyer due to unauthorize claim.

I provided my business document and website when I open my account in skrill. So moneybookers(Skrill) must know that I am the official voip reseller of the Dellmont program (http://www.voipseller.com/). I sell voip credit to make pc to phone call that is a intangible goods. According to the Terms and condition of my website payment to my website and to me through any payment method is non-refundable.
Finally I want to say that it will be unjustice to me if moneybookers (skrill) don´t give my money (3420.33 Euro) back.
I will fight untill I get my money back. I will spread out this unjustice to all over the internet. in facebook page, online forum, youtube, online newspaper etc.
Finally I will choose ligal aid from any law firm of UK. I already contected with legal aid firm of UK. They assure me I must get my money back with compensaton due to mental harassment.

I'm from Singapore , please beware there's hidden charges from those intermediary banks if you make withdrawal from your skrill account. Very recently I had withdrawed 200 and 600 and there's a charges of 31 and 35 dollar respectively. It had never happened before but now they are charging me. I gonna stop using skrill and use other service. Users beware

They have stolen my money and will not reply to my messages.

They want photo id from me and I do not drive or have a passport. They said they will take Government id. I sent them the link from the UK government. Saying they do not use Photo id in the UK any more and told people to destroy old photo id.

https://www.gov.uk/identity-cards-and-new-identity-and-passport-service-suppliers

When I joined they excepted my Birth cert and Council tax bill along with Bank id.
When I changed Banks they froze my funds and wanted id again. Which would be fine if they would take the same sort of id. But no they want photo id.

Theft I believe it is called.

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