Moneybookers: Is It Better than PayPal?

After my account in MoneyBookers (MB) has been verified, I tested its capacity in withdrawing money to my bank account in the Philippines.

The withdrawal process in MB is as simple as withdrawing money in PayPal. However, MB has a confirmation process that involves entering of birth date.

Unlike PayPal’s fee (2.9%+$0.30), receiving money in MoneyBookers is free. But withdrawing money entails a flat fee of $2.37, depending on the FOREX market. For that reason, it is better to withdraw a bigger amount in MB.

Inability to view amount in Philippine currency
This is probably one of the drawbacks of using MB. I was not able to view the total withdrawal amount in Philippine peso before proceeding to wire transfer. However, based on my manual computation, MoneyBookers has higher exchange rate than PayPal. 

Wire transfer
According to Moneybookers, it will take up to 5 business days before the amount reaches my bank account. In PayPal, money transfer can be completed within 2 to 3 business days. When I used Moneybookers, wire transfer only took 2 days to complete.

Because of the positive result of the withdrawal process in Moneybookers, I prefer Moneybookers to PayPal provided the amount to be withdrawn is more than $300. I just hope that transferring money using Moneybookers will continue to be a hassle-free transaction.

Will I recommend Moneybookers?
Absolutely. NO

You may use this link -- Moneybookers -- to sign up for MB. ABSOLUTELY, NOT RECOMMENDED.

Other topics of interest:
MoneyBookers: How to Verify Account? Are You Shopping for Bathroom Equipment?
Cartier Gold with Diamond Watch
Swatch Watch: The Disadvantage of Owning a Swatch
Pendant Lighting for Our Kitchen


  1. Hi! Do I need to verify my account first before I can withdraw?

    Also, what is the minimum or maximum amount I can withdraw?

    Salamat! :)

  2. Hello papernalia22,

    Yes, you do need to verify your account before you can make withdrawal using Moneybookers.

    Unlike Paypal, there is no minimum withdrawal amount as long as your balance is enough to cover the redemption fee. Please refer to this link:

    For maximum withdrawal, there is a transaction limit set, depending on your status. Mine is over $1k for 30 days because I have verified my credit/debit card and address.

    Again, it is free to receive money through Moneybookers.

    To sign-up, please go here: Moneybookers Sign-Up


  3. Thanks for the reply. Btw, how to verify my account? Do I need to verify all? my address, bank account and debit card?

    Taga Pilipinas ka rin ba? :D

  4. Hello papernalia22,

    After signing up, Moneybookers will show you instructions on how to verify your account.

    Medyo tricky ang pag-verify ng credit/debit card kasi they debited a random amount from my debit/credit card in USD. Although nakita ko kung how much ang binawas sa Unionbank ko, hindi ko matantya kung how much ang exact amount debited in USD. So I just emailed the CSR and told them about the problem. They emailed me back promptly naman. They asked me to send a screenshot of my bank statement showing my name as an account holder, credit/debit card number and transaction details yung sa debited na amount. I also sent them scanned photo of my Unionbank card para makita yung account number ko kasi hindi visible sa bank statement eh. After nun, verifed na ang debit/credit card ko.

    Yung sa pag-verify ng address, I sent them my cable bill as proof of billing address. Yung bank account registered lang hindi verified kasi hindi sila makapagverify bank account sa Philippines. Pero okay na yun.

    After na verify ko ang aking debit/credit card and address, increased din aking transaction limits.

    Yun lang po. I like MB more kasi walang bayad mag-receive ng money unlike PayPal na sobrang laki ng binabawas. May fee lang pagwithdraw which is under $3. Unionbank kasi gamit ko. Mare-receive ko ang money within 24-48 hours lang, based on my experience.

    I hope you will find this helpful.

    Thank you.

  5. I prefer Paypal than Moneybookers. The latter charged high like 2.43 USD and Paypal charge 50 pesos only. Anyway, having the two payment processors account will make us secure online.

  6. Hi! I had similar difficulties with MB:
    -- the address verification letter never arrived
    -- credit card verification
    Moneybookers (now skrill) expected me to enter the debited amount in EUROs, while my account (SMART Money) was debited in Pesos..

    solution: on the same day that MB had debited my SMART Money card I managed to debit it with exactly 1 EURO by sending 1 EURO to a friend with Paypal account!

    So on my SMART cell phone I got a msg on how much my SMART Money card was debited for 1 EUR (57.14 pesos), now I was able to calculate the currency exchange rate and successfully entered the correct EURO amount into skrill (1,58 EUR in my case for a debited 90.29 pesos)

    this should work for anyone having an paypal and an activated SMART Money card (dont forget to unlock it for internet purchases just b4 u start the debiting transactions)

    otherwise it is nearly impossible to find the correct currency exchange rate that aplies to the very day that skrill debits ur credit card..

    hope that helps u folks..

  7. Hi jane jane..

    You mentioned that you used Unionbank to withdraw your money in money bookers.. How did you do that? Yan bah ung EON card or regular na account? Kumuha ako nung eon na account da sa union bank para sa moneybookers, pero sabi ng manager doon sa bank paypal lang daw gina cater nila. Tapos kung eon ung account ko, ma verify lang daw nila pero inde daw ako maka withdraw ng cash.

  8. Hello Wish,

    Yes, it was the EON card of Unionbank that I linked to my MB account. Pueded ang EON for MB. Kaso ang EON is not yet affiliated with MB kaya Unionbank doesn't recommend MB. Makaka withdraw ka from MB to your EON. I-link mo lang account mo. Pero, based on my last experienced with MB, I don't recommend using it. Just stick with PayPal na lang. Ang laki ng chinarge sa akin, around $25 yata.

  9. So, charging is not flat rate and inconsistent? ... Still looking for a PayPal alternative as PayPal has this tendency to freeze an account or refund a client's payment without per-informing the seller. :(

  10. Hi. This is a bit out of topic but I'm having a hard time finding the answer from google, so i hope ok lang. I lost my paypal password and the debit card number na ginamit ko sa paypal ay nawala na rin coz pinalitan ko yung card kasi na damage. Pano ko po kaya ma retrieve paypal ko uli?..BDO yung ginamit ko na debit card..salamat guys.

  11. Hello Rachel,

    There is an additional fee on top of the flat rate. The said fee is charged by your "core bank." This is only based on my previous transaction with Moneybookers. If I were you, I would stick with PayPal. However, you could try the services of MB. Who knows? You might find their services better than PayPal.

  12. Hello Bren,

    You can retrieve your Paypal password by visiting and click on Problem with Login button. Hope this will help. Thanks.

  13. Hi!I just to clarify..for MB account, do you have to verify your account using address verification or CC..or is it both?

  14. @April

    You need to verify your account through address verification to increase your transaction limit. Ty. :)

  15. Pwede ba na ang gamiting kong bank account is yung sa EON? Magkano ba charge and swift code lang ba ang kelangan?

  16. Hello Lynly,

    Yup, puedeng gamitin ang EON. Yung first few transactions ko ay walang charge pag-withdraw from MB to EON pero nung huli ay I think mga 1k nabawas sa akin. Kaya I stopped using MB na.

  17. thanks man helpful article .... i hate paypal verify he charge my visa credit card my wallet rcbc P100 then i cannot verify me he cannot back my money like scammer .. i hate paypal ... ..

  18. mga friends kapag mag verify kanang moneybookers eh.... pwedi ba peso currency .... creidt card visa ang gagametin ko .......... peso ang laman ..........??? pls reply me or e-mail me .... eto e-mail ko ====== <<<<<<<< pls reply me thnaks advance guys

  19. Ma'am ano daw nangyari bakit sobrang laki ng MB charge sa inyo? Did you report it to them? Balak ko pa naman mag withdraw from MB...

  20. I emailed my bank and Moneybookers. Ang sabi ng Unionbank (EON), and third-party daw ang nakaka-alam how much ang charge and why. Then, sa side ng Moneybookers ang sabi ay wala na daw silang hawak dun sa additional charge, besides dun sa binawas na nila sa akin upon withdrawal. Ang gulo!

    Pero try mo lang. Sa akin, okay ang MB dati, pero after a year eh, yun na. Eto yung complaint ko sa MB

    Hope this will help you make the right decision. But I'm not discouraging you to use MB. Just sharing my "negative" experience with them.


  21. i made a successful withdrawal to my EON account last week. Only $23.xx, and received Php 1009.xx

    you can view the screenshots @
    i will post them...

  22. Hi, pwede po ba gamitin ang BDO debit card(mastercard) for Moneybookers? Pwede po kaya yun? sa skrill kailangan lang daw ng swift code and account number... eh pwede kaya yung Debit card ko ng BDO(mastercard)???? pls help me.. first time ko kasi.. Thank you so much..

  23. Hello Mariel,

    I think puedeng gamitin ang BDO credit card mo para sa Moneybookers. But I'm not sure of the fees and charges that may be imposed by MB. Kung ang basehan ko ay ang PayPal, mas malaki yata ang fees pag ang gamitin mong card sa MB ay BDO.

  24. Hello I'm Mel,

    Nabanggit mo po na yung bank account mo dito sa pinas ay registered only and not verified. So ibig sabihin pwede ka mag withdraw from MB to local bank, so paano yung not verified ibig pala sabihin hindi nadagdagan ang limit mo through bank verification?

    Kumusta na kaya yung flat fee na below $3 per local withdrawal sana wala ng extra charge na aabot sa php1000. Kaso basi sa mga review nababasa ko particular Bangladesh napakamura raw ng MB sa kanila. Thanks pala sa blog mo about MB :)

  25. Hello Mel,

    I think so, yes. Hindi madagdagan ang limit mo. Okay talaga ang MB nung una, para sa akin, compared with PayPal. Ever since they deducted PHP1,000 sa withdrawal amount, hindi ko na ginamit MB account ko. I just stick with PP na lang.

    Let us know how it goes with your MB transaction.

    Thanks for visiting.

  26. Salamat, paano kung ang gamitin ko ay EON. ok kaya? mawiwithdraw ko kaya ang funds ko?

  27. Hello Mariel,

    Mas okay yata ang EON kasi it's designed for online transaction. EON yung gamit ko at naka-withdraw naman. Yung nga lang after a few months of using EON with MB, medyo malaki na yung binawas sa akin.


  28. Hi, salamat jane. isa pang tanong. Pwede ba na ang gamitin kong bank account sa MB is yung sa EON? Saan ba yun babagsak? sa Eon atm ba?

    Bank account and debit card kasi yung nandun.. Sa Debit card ay ayaw tanggapin. Sa bank account ok naman. swift code lang ang isa pang kailangan.. Thank you once again.

  29. Hi, isa pang tanong, sa MB ay may - Add Bank Account and Add Credit & Debit Card. Pwede kaya sa EON yung sa Add Bank Account? Pasok kaya yun? Swift code lang daw ang kailangan.. Kasi dun sa Debit card eh ayaw tanggapin. Please Reply.. Salamat.

  30. Hello Mariel,

    Yes, EON can be added as your bank account for MB. Puede mong i-search yung Swift Code ng Unionbank (UBPHPHMM)sa official website ng unionbank:

    Hindi ko lang masiguro sa yo kung same process ang pag verify ng MB for your bank account. Sa akin kasi binawasan ako ng certain amount, around PHP40 yata. Same process yung sa PayPal. The problem with MB is kailangan mong isubmit sa kanila yung amount na binawas in dollar ($). Ang ginawa ko dati was nagsubmit ng utility bill na may name ko and address kasi hindi ko naman alam the exact amount in dollar yung nabawas.

    Pero yung binawas sa yo ay maibalik din after verification.

    Hope this helps.

    Thanks for dropping by.

  31. Hi,

    Thank you for your very informative post. You're heaven sent :) I have been googling up and down whether I can withdraw MB money here in the Philippines. Now, I know. Pwede ang EON. Nakakatakot ang Paypal. Ni-lockdown ang account ko so di ko na magamit $700 worth of online work ko. ang ni-cite lang nila na reason is unusual transaction. After 120 days pa daw nila i-unfreeze yung account ko kahit na nabigay ko na lahat ng requirements nila. Haaay. Nakakbwsit lang kasi pano pala kung may emergency ako.

  32. hi good day pano kng alam ko ung bnwas sa account ko pero nkalagay in peso ndi ko alam ano conversion exact follow nila :(

  33. @Bohemian Queen
    Marami din akong narinig na complaints related sa problem about PayPal. So far, okay naman ang PP. Yun nga lang, malaki fees :(

    @Anne Koh
    Yan ang problem sa MB or Skrill. In dollar yung pagbawas then peso currency yung bank account mo. Ang ginawa ko before was nag submit ako ng bill ko na may name and address. I think meron silang bagong verification method ngayon that doesn't involve submitting of a document. I think it's easier now to verify. :)

  34. Gamitin nyo lang Central Bank USD rate. swak yan

  35. Hi... I bet this is an old old , after hearing all the more negative experiences with this MB (now skrill, right?), is this going to be worse?
    I mean, na activate ko na ang Skrill card, kakarating lang kanina. I guess, sa sobrang pagkaexcite kaya I never thought of reading some reviews muna...

    Question: What if I won't continue to use this one, pero activate na cya, what happens? and, luckily wala pa akong nalilink na bank account ko (buti nlang....^_^)

  36. Hello,

    I'm not sure sa Skrill card. Wala kasi akong natanggap na card dati. Kung di mo i-continue, I think walang mabawas sa iyo na fund. Pero try mo lang.

    So far, hindi ko na ginagamit ang MB/Skrill account ko. I stick to PayPal na lang.

    Thanks for dropping by.

  37. Hey guys, meron b kayong alam na way para ma-withdraw ko yung skrill money ko through western union or any other money transfer? thanks!

  38. Hello Jam Franz,

    I don't think puede mong ma withdraw ang money from Skrill to Western Union. Pero you could email Skrill's customer support team.

    Thanks for dropping by.