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User
Thread poster: Nexus Translate
Moneybookers Vs. Paypal
Nexus Translate  Identity Verified
Chile
Local time: 05:49
Member
English to Spanish
+ ...
Feb 15, 2010

Hi everyone, I am relatively new to this business, I have been a freelance for only a year and most of the time I have worked with local clients.

I am now using paypal to receive payments from my clients abroad but someone asked me to receive through moneybookers and so the question arised, what's cheaper / better paypal or moneybookers?

I see that moneybookers charges 2.45 USD per withdrawal plus a 1.99% to their wholesale exchange rates while Paypal charges 5.00 USD plus an exchange rate of a 2.5% plus a 3.4% + 0.30 USD each time you get paid.

If I do my math Paypal is MUCH more expensive so is there a trick? is it only because is more popular? should I do my transactions through Moneybookers?

I would very much appreciate your personal opinions and experiences.

Thanks and great day!

Aliz.


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Kristine Lielause  Identity Verified
Latvia
Local time: 11:49
Member (2005)
English to Latvian
+ ...
Just thoughts without calculation Feb 15, 2010

Hi Aliz,
I think Moneybookers is more - "receiver friendly", but PayPal is more popular
p.s. I have both accounts.

[Rediģēts plkst. 2010-02-15 17:06 GMT]


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Steven Capsuto  Identity Verified
United States
Local time: 04:49
Partial member (2004)
Spanish to English
+ ...
Availability issues Feb 15, 2010

It depends where your clients are. For example, I'm in the U.S.

People in the United States can receive money via Moneybookers but not send money (unless they have an account in a foreign bank).

When receiving payments from European clients, I prefer Moneybookers because the rates are lower. But for other purposes, Paypal is the only one of these services that I can use.

[Edited at 2010-02-15 17:13 GMT]


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Daniel Šebesta  Identity Verified
Czech Republic
Local time: 10:49
Member (2007)
English to Czech
+ ...
Sender/recipient, U.S./Europe Feb 15, 2010


aliz ayala wrote:
If I do my math Paypal is MUCH more expensive so is there a trick? is it only because is more popular? should I do my transactions through Moneybookers?


Hi Aliz,

PayPal really is much more expensive for the recipient. As far as I know, Moneybookers does have some fees too but on the sender's side. That, obviously, makes PayPal more popular with payers (i.e., costumers).

Moneybookers also doesn't work for U.S.-based clients. Nevertheless, I have had great experience with Moneybookers in getting paid by clients in Europe, esp. the UK.


Kristine Lielause wrote:
p.s. I have both accounts.


Same here, Kristine.

Daniel


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Elene P.  Identity Verified
Georgia
Local time: 12:49
Member (2007)
Georgian to English
+ ...
paypal :( Feb 15, 2010

Can you imagine my country Georgia is not listed in Paypal when other 14 former USSR republics are. Where's the logic? The only explanation that comes to mind is that it is being confused with GA state..

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Nexus Translate  Identity Verified
Chile
Local time: 05:49
Member
English to Spanish
+ ...
TOPIC STARTER
Yeah I Have both too Feb 15, 2010

However my question resides more in which one offers better service (I am in LatAm, therefore neither takes us into account, everything is build either for EU or USA)

I was charged 3.9% and not 3.4% as stated in their website, I introduced a complaint and as soon as I get the reply I'll make sure to post it here!

Thanks everyone for your opinions.

Cheers.

Aliz.


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Kristine Lielause  Identity Verified
Latvia
Local time: 11:49
Member (2005)
English to Latvian
+ ...
Ex USSR Feb 15, 2010


Elene P. wrote:

Can you imagine my country Georgia is not listed in Paypal when other 14 former USSR republics are. Where's the logic? The only explanation that comes to mind is that it is being confused with GA state..


Just a few years ago Latvia could only make payments, but not receive money with PayPal. Therefore I first got the Moneybookers account.


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Walter Landesman  Identity Verified
Uruguay
Local time: 06:49
Member (2005)
English to Spanish
+ ...
PP Feb 15, 2010


aliz ayala wrote:

However my question resides more in which one offers better service (I am in LatAm, therefore neither takes us into account, everything is build either for EU or USA)



Not quite so.

I am very happy with PayPal and so are many other LatAm colleagues.

Actually I started using PP following the advice of a Chilean member in one of these fora several years ago.

Browse around the fora and you`ll see many tips, detalis and all related information on PP for LatAm.


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Nexus Translate  Identity Verified
Chile
Local time: 05:49
Member
English to Spanish
+ ...
TOPIC STARTER
PAYPAL REPLY Feb 15, 2010

rom webform@intl.paypal.com
to Alejandra Ayala
date 15 February 2010 17:01
subject Re: Sending/ReceivingMoney (Routing Code: C152-L001-T11085-S111-W000000) (KMM158340085I96L0KM)pk1
mailed-by intl.paypal.com
Signed by intl.paypal.com

hide details 17:01 (12 minutes ago)

Dear Alejandra Lizette Ayala,

Thank you for contacting PayPal.

I sincerely apologize for the confusion and inconvenience this may have
caused you. I have attached the fee structure for PayPal members
for your reference.

Monthly Sales Price Per
Transaction*

$0.00 USD - $3,000.00 USD 3.9% + $0.30 USD
$3,000.01 USD - $10,000.00 USD 3.4% + $0.30 USD
$10,000.01 USD - $100,000.00 USD 3.2% + $0.30 USD
> $100,000.00 USD 2.9% + $0.30 USD

To see a complete list of applicable fees, go to the PayPal website and
click the link labeled “Fees” at the bottom of each page. Please make
sure to select your specific country to view the specific fees.

I'll be glad to hear from you if you need clarification. Just give us a
call and we will try our best to give you immediate answers or you can
also visit www.PayPal.com/101. Thank you for choosing PayPal for your
online payment needs. We appreciate your business.

Sincerely,
Jocelyn
PayPal, an eBay Company


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ahmadwadan.com  Identity Verified
Kuwait
Local time: 11:49
English to Arabic
+ ...
Moneybookers is my hero Feb 16, 2010

I use both. However, PayPal is so expensive compared to Moneybookers.

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MariusV  Identity Verified
Lithuania
Local time: 11:49
English to Lithuanian
+ ...
PayPal is more expensive, but much better Feb 16, 2010

I have both PayPal and Moneybookers. PayPal might seem a little bit of a rip off, but it has many advantages over Moneybookers:

PayPal advantages over Moneybookers in my opinion:

1) PayPal has a rather good client support system - they respond to enquiries (not very fast, but they DO respond and really solve problems);
Moneybookers client support system is SIMPLY terrible (in reality it does not exist as such);

2) PayPal is known to many people - it is well known, so actually the majority of your clients will have PayPal (as registered members of PayPal). With Moneybookers - hardly anyone knows it, registration procedure is TERRIBLE and takes ages till the confirmation (do not recommend it to your clients if they do not have it - the people will waste their time, will have to make dozens of phonecalls to "machine-like" support staff who act like a new client is a "persona non grata" to them);

3) PayPal is more safe - they have a fraud protection (I had some issues regarding ebay items, and PayPal solved these promptly and fairly for my benefit);

4) PayPal is rather formal, but formal to the extent "as much as it is needed" whereas if you collect several hundred of USD or EUR to Moneybookers account, they can "freeze" your MB account at any time, without any explanation, and only later, after several weeks of very stubborn "demands to explain the situation", you will get to know that you "breached some MB rules" (but they will never be able to explain what rules and why), or even they can accuse you of "money laundering" (just because you have some cash on MB)...For me it took 6.5 weeks to have my account unlocked and some 30 or like international phone calls (each lasting 10-15 minutes)...Where you each time have to explain the situation to their customer support, then each time they promise all will be solved in 24 hours, and nothing happens.

5) There were serious security problems with MB some time ago. For some people the money on MB simply disappeared. And no one ever compensated them. Nor explained anything. Probably due to this MB security problem many MB accounts with money were "frozen" and MB members were absurdly accused of MB rules breaching and even "money laundering" (they needed a formal basis to lock other MB accounts as to probably stop the fraud)...

All in all, I'd recommend to stay away from MB at any cost. PayPal is not an ideal thing, and really quite expensive, but compared to MB - it is an ideal one. At least, your small cash will be safe at PayPal and no one will steal it or freeze it without any explanation or reason.


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Nexus Translate  Identity Verified
Chile
Local time: 05:49
Member
English to Spanish
+ ...
TOPIC STARTER
Paypal IS more expensive for a reason. Feb 16, 2010

Everything that is more expensive seems to be "better" in one way or another. I wouldn't compare a cheap pirate copy of an Armani Suit to the actual thing and this PP vs MB thing seems quite similar.

Thanks MariusV for taking the time to reply, I have decided to keep both accounts but always give PP the preference because although yes I handle juts small dollars, it is My income which I can't afford to have frozen or "misteriously lost"

Although would be nice if PP updated their fees on the website as that 0.5% extra fee seems a bit too much to obviate.

Thanks everyone for feedback and comments, I truly appreciate it.

Kind regards, Aliz.


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Neil Coffey  Identity Verified
United Kingdom
Local time: 09:49
Member (2009)
French to English
+ ...
Some valid points but slightly rose-coloured view of Paypal... Feb 16, 2010


MariusV wrote:
I have both PayPal and Moneybookers. PayPal might seem a little bit of a rip off, but it has many advantages over Moneybookers:
2) PayPal is known to many people - it is well known, so actually the majority of your clients will have PayPal (as registered members of PayPal). With Moneybookers - hardly anyone knows it, registration procedure is TERRIBLE and takes ages till the confirmation (do not recommend it to your clients if they do not have it - the people will waste their time, will have to make dozens of phonecalls to "machine-like" support staff who act like a new client is a "persona non grata" to them);


I must admit I don't remember setting up my Moneybookers account being particularly worse than with Paypal. *However*, one advantage with Paypal is that you can use a "buy now" button embedded in an e-mail to request money from clients without them actually having to have a Paypal account-- the link takes them to a page where they can just enter their CC details without having an account. I don't *think* Moneybookers offers this, or at least, I couldn't find it.


MariusV wrote:
4) PayPal is rather formal, but formal to the extent "as much as it is needed" whereas if you collect several hundred of USD or EUR to Moneybookers account, they can "freeze" your MB account at any time


Unfortunately, Paypal can do this too. I've been waiting over 5 weeks now for them to mail me an "activation code" for one of my accounts.


MariusV wrote:
5) There were serious security problems with MB some time ago. For some people the money on MB simply disappeared. And no one ever compensated them. Nor explained anything. Probably due to this MB security problem many MB accounts with money were "frozen" and MB members were absurdly accused of MB rules breaching and even "money laundering" (they needed a formal basis to lock other MB accounts as to probably stop the fraud)...


Remember that *any* system is potentially unsafe. Potentially, a hacker or rogue employee could steal the entire Paypal credit card database at any time. The one single security measure that protects you against this is that if somebody steals your money, the bank or credit card company pay it you back. Remember the "security" measures like "Chip And PIN", "Verified by Visa", "CV2 code" are essentially publicity stunts to improve customer confidence and to try and persuade governments to lessen the bank's responsibility (luckily I don't think the governments are necessarily being conned)-- they don't actually add much tangible security from a technical point of view (actually, at least the first two inrtoduce further security flaws).

One interesting anecdote: I think the same day that I made my first transaction with my Moneybookers account, may card was blocked and I received a call from my credit card company's fraud department. Of course, this *may* be coincidence-- it may have been another transaction that triggered the block. But...

[Edited at 2010-02-16 15:15 GMT]


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Heart  Identity Verified
United States
Local time: 03:49
Member (2002)
German to English
+ ...
Moneybookers freezes your account often Feb 19, 2010

I have had PayPal for a long time and any problems (very few) that arose were promptly and correctly dealt with. Then I got a Moneybookers account about 4 years ago so that I could receive payments from European clients without paying the high PayPal fees. This worked quite smoothly for a couple of years (although I only get paid in this way about 6 times per year) until they started freezing my account last year. They said they would send paperwork to my home address to be completed and sent per postal service which I duly completed and sent back. Then my account was unfrozen until this Jan., it stopped working again - ie. I could not withdraw funds since my account was 'locked' and 'a moneybookers rep would be contacting me soon'. Well 3 weeks later and still no rep - so I contact them (long distance call since their email responses are unsatisfactory) and am getting the run-around. Seems they now have the idea I am some sort of multi-million dollar incorporated company and that (I guess) they want to confirm me as a business member. So this means more paperwork asking for info that does not exist (like who are the shareholders in my company...) and more requests for a copy of my passport (no way...). I really hope I get to see the $300 they are holding hostage.

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Denis Ihsan Sumer  Identity Verified
France
Local time: 10:49
English to French
+ ...
Broken paypal link Apr 12, 2012


Nexus Translate wrote:

rom webform@intl.paypal.com
to Alejandra Ayala
date 15 February 2010 17:01
subject Re: Sending/ReceivingMoney (Routing Code: C152-L001-T11085-S111-W000000) (KMM158340085I96L0KM)pk1
mailed-by intl.paypal.com
Signed by intl.paypal.com

hide details 17:01 (12 minutes ago)

Dear Alejandra Lizette Ayala,

Thank you for contacting PayPal.

I sincerely apologize for the confusion and inconvenience this may have
caused you. I have attached the fee structure for PayPal members
for your reference.

Monthly Sales Price Per
Transaction*

$0.00 USD - $3,000.00 USD 3.9% + $0.30 USD
$3,000.01 USD - $10,000.00 USD 3.4% + $0.30 USD
$10,000.01 USD - $100,000.00 USD 3.2% + $0.30 USD
> $100,000.00 USD 2.9% + $0.30 USD

To see a complete list of applicable fees, go to the PayPal website and
click the link labeled “Fees” at the bottom of each page. Please make
sure to select your specific country to view the specific fees.

I'll be glad to hear from you if you need clarification. Just give us a
call and we will try our best to give you immediate answers or you can
also visit www.PayPal.com/101.

Not Found
The requested URL /101. was not found on this server.
Additionally, a 404 Not Found error was encountered

Thank you for choosing PayPal for your
online payment needs. We appreciate your business.

Sincerely,
Jocelyn
PayPal, an eBay Company


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