Moneybookers account: held in Euros or GBP?
Thread poster: Joanne Parker

Joanne Parker  Identity Verified
Local time: 16:34
German to English
+ ...
Apr 8, 2007

Fellow Prozians have advised me to open a Moneybookers account as I am based in the UK but receive lots of payments in Euros.

When I open an account, I have to specify if I want the account to be in Euros or GBP, and this is where I'm confused.

I want to use the account to collect EUR and to pay a lump sum once a month, for example, into my bank account in the UK. But my UK bank charges me £7 for receiving payments in Euros.

So can I create a Moneybookers in GBP and still use it to collect Euros? Are there any fees involved in converting different currencies?

Or do I create the account in Euros and put up with the £7 fee from my UK bank?

Thanks in advance for clearing this up for me!


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M. Anna Kańduła  Identity Verified
United Kingdom
Local time: 16:34
English to Polish
GBP Apr 8, 2007

I receive payments in Euros and USD and they are automatically converted into PLN (my currency). No additional charge is recorded.
So I'd say start it in GBP - you would still be able to receive any currency, it would be changed to yours and there would be no fee from your bank.

The only expences I pay to MB is when I send money to my bank account, that's all.

I hope this helps

Anni


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Vladimir Pochinov  Identity Verified
Russian Federation
Local time: 17:34
Member (2002)
English to Russian
Moneybookers is a multicurrency service Apr 8, 2007

Joanne Parker wrote:
So can I create a Moneybookers in GBP and still use it to collect Euros? Are there any fees involved in converting different currencies?


I absolutely agree with Anna. My account is in USD, and I receive payments in USD, GBP and EUR. Withdrawals are made to my USD bank account. I have been using this service for about 3 years. No problems so far...


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FarkasAndras
Local time: 17:34
English to Hungarian
+ ...
another possibility Apr 8, 2007

I started mine in euros as I figured MB would charge a bunch for converting received payments into my currency (HUF).
No biggie, I'll open a euro bank account and withdraw money to that account. The bank converts money at _very_ favourable rates if I transfer it to my HUF account within the same bank instead of getting it in cash straight from the euro account. The 2 rates are radically different.

The new account costs ~0.3 euro/month and I'm sure I'll spare on the conversion.

Maybe that's the way you'd get the most money, though having to get a new account is a bit of a pain.

You'd need to find out about exact MB and bank conversion rates to find out.


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Hynek Palatin  Identity Verified
Czech Republic
Local time: 17:34
English to Czech
+ ...
Withdraw FAQ Apr 8, 2007

I suggest reading this: http://www.moneybookers.com/app/faq.pl?gid=9

Moneybookers supports local payments in the UK. If you open the account in EUR, Moneybookers will convert the amount to GBP before sending it to your bank. If you open the account in GBP, the received money will be converted and your MB account will be credited in GBP.

[Edited at 2007-04-08 15:19]


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Moneybookers account: held in Euros or GBP?

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