Why no one is using MoneyBookers?

First of all, Disclaimer: I'm not involved with MoneyBookers. Do not work for them, do not take money from them

I am just wondering why no one is using Moneybookers here. It works basically the same way as Paypal, with just one big difference: buyer pays the fees and they're extremely reasonable (1% up to a maximum of 0.50€, about $0.64).

Do you think it's not as trustworthy as PayPal? I think it is... And even eBay, which is pretty restrictive about accepted payment methods, allow moneybookers (check the examples at the bottom) for payments.

I know that it's a vicious circle: "if no one is using it and I start to then I won't be able to pay anyone!" But if we start to use it maybe we can break the chain. :candle:

This is a prey, to everyone selling things here: start accepting Moneybookers :thumbsup:

Let me know your thoughts about this

Never heard of it? Some research is needed.

Never heard of it either. PayPal has always worked fine for me.

dgc said:

It works basically the same way as Paypal, with just one big difference: buyer pays the fees

Click to expand...

The seller is profiting so he/she can pay the fees, just factor in the fees into the asking price. Basic Retail 101.

Well for starters I live in the US. I see no statement on their site as to how they might be regulated by the SEC (Securities & Exchange Commision), or the Federal reserve Board. So that means that if I had trouble with them I'm not sure I as a US citizen would have any legal recourse against them.

From their policy:
13.3. This Agreement shall be governed by and construed in accordance with the laws of England and Wales. Any claim arising out of or relating to this Agreement or the provision of the Services offered by Moneybookers that cannot be resolved by contacting the customer service department shall be settled through the Financial Ombudsman Service or the courts of England except where EU legislation requires a specific dispute to be resolved by the courts of another country.

That does not like it would be fun for me. PayPal on the other hand is regulated here and is also subject to my state (Ohio) laws as they are licensed to do business here so filing a complaint against them is quick, free, and easy for me.

Also compare these 2 sections of policy:

Moneybookers
12.4. Moneybookers shall make reasonable efforts to ensure that all debit and credit transactions are processed in a timely manner. However, a number of factors, several of which are outside of Moneybookers' control such as processing time in the banking system or the mail service, will contribute to when the funds are received. The Company makes no representations regarding the amount of time needed to complete processing, nor shall the Company be liable for any actual or consequential damages arising from any claim of delay. Furthermore, Moneybookers makes no representations or warranties as to continuous, uninterrupted or secure access to the Moneybookers Service, which may be affected by factors outside of Moneybookers control, or may be subject to periodic testing, repair, upgrade or maintenance.

PayPal

# Our Liability for Errors. If we do not complete a transaction on time or in the correct amount, according to our agreement with you, we will be liable for your losses or damages proximately caused by this failure. However, there are some exceptions. For instance, we will not be liable if:

* Through no fault of ours, you do not have enough available funds to make the transaction.

* Any terminal or system was not working properly and you knew about the breakdown when you started the transaction.

* Circumstances beyond our control (such as fire or flood) prevent the transaction, despite reasonable precautions that we have taken.

Seems like PayPal is shouldering much more responsibility for making things right.

In any case for me it comes down to not being regulated in the counrty in which I live. I'll stick with PayPal and I agree that sellers should just include fee in their proce.

Neither the SEC or the FRB has any jursdiction on disputes that you may have with PayPal either. And as part of your agreement in using PayPal, you agree to submit any disputes to the jurisdiction of courts in the County of Santa Clara, State of California. i.e. even though you live in Ohio, Ohio law would not be applicable to any dispute that you have with PayPal and any legal action that you may choose to pursue with PayPal would have to be filed in California.

For representation in the UK, you would want to contact a solicitor in the UK and similarly any legal action that you wish to pursue would have to be filed in a UK court in the jurisdictions that you agree to in their terms of usage.

bitslammer said:

Well for starters I live in the US. I see no statement on their site as to how they might be regulated by the SEC (Securities & Exchange Commision), or the Federal reserve Board. So that means that if I had trouble with them I'm not sure I as a US citizen would have any legal recourse against them.

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True that I'd have to file any civil lawsuit in CA, but they do carry a license in OH so I have a backup of being able to file a complaint with the state and the state will investigate. If it came down to loosing their license and not being able to do business in Ohio they would be in a huge mess so I'm guessing they would play nice if I had a reasonable issue.

Brighteyez said:

For representation in the UK, you would want to contact a solicitor in the UK and similarly any legal action that you wish to pursue would have to be filed in a UK court in the jurisdictions that you agree to in their terms of usage.

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Yeah that just sounds expensive and painful to me.

I am waiting for Google Checkout to become a more personal payment method like Paypal. I havent read into it much, but I would think they would do so...

-C
[edit] I also think it is insanely rediculous eBay has Google Checkout on their banned list....[/edit]

bobisculous said:

[edit] I also think it is insanely rediculous eBay has Google Checkout on their banned list....[/edit]

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Protecting their own interests. PayPal is pretty bad--only way eBay can keep it running is to stop ones that might be better.