As the number of e-transactions has increased steadily over the past decade, the concern for online security has increased. As a result of this, various alternative online payment systems have been launched, such as e-voucher deposits Paysafecard and Ukash, and e-wallets such as PayPal and Skrill Moneybookers.
E-wallets provide an additional layer of security over other more traditional methods, such as debit card transactions. Moneybookers acts as an intermediary between your bank account and the recipient of the funds, helping to prevent against fraud. This method of banking has proved to be very popular amongst various online gambling sites, particularly on bingo sites. You’ll find Moneybookers available on a large number of bingo sites, including Tea Time Bingo and popular favourite Mecca Bingo.
How Does It Work
All you have to do is create an account linking your bank account to a Moneybookers account, and you will be ready to go. Once you have entered your sensitive bank account details, you won’t be asked to do it again. Once you have done this, you can pay money from your bank account to various bingo sites using your Moneybookers username and password.
Advantages of Skrill Moneybookers
One of the main advantages of using Moneybookers as a method of online transaction is the fact that you can deposit and withdraw funds from your account instantly online. There is no need to wait for sends to be sent, you can deposit to your account and spend your funds instantly.
Another bonus is that you can send cash internationally at a low cost. If you to collect business revenue from abroad, Moneybookers provides an ideal solution. Transactions are completed cheaply and quickly and can be sent into your choice of currency.
Sending funds using Skrill Moneybookers provides an additional layer of security over other options for online fund transfer. Instead of connecting to your bank account, the recipient just links to your Moneybookers account, meaning the amount you are liable to lose is limited.
When withdrawing funds from your account, the process should be free. It might take a couple of days to show up on your statement, but it’s a small price to pay! A free may in incurred, however, if you have funded using a credit card.
Disadvantages of Skrill Moneybookers
The major drawback of Moneybookers is that it is not available to people in the USA. The e-wallet company withdrew from the America market in 2006 when a legislative bill was passed.