moneybookers : Save Money

moneybookers : the best payment method online

While dealing with online business, I constantly need to receive payment or transfer funds. I've been trying several methods like traditional bank wire, or post bank, but quit them because of the very high fee cost. PayPal was recommended by a friend, and I indeed used it for several transactions, but the currency conversion rate is terrible, and the fee is not that low as I imagined.

Until I tried moneybookers, and suddenly I see how much money I have lost by all the previous transfers.

PayPal maybe considered one of the most convenient payment methods online, but if you research and experience all the fees you are paying using PayPal, it's pretty costly.

Here's a simple comparison:

Although using PayPal when sending money it is free, but the person who receives the funds pays 3.4% + 1.2 ILS = usually it is actually 4% if you don't have a massive payment and have an agreement with PayPal to pay a 2.4% + 1.2 ILS fee, but the percentage has no limit, you receive more, you pay more.

Using moneybookers when receiving money is free, the sender pays 1% of the transfer but UP TO 2.44 ILS - that means if you send more than 244 ILS, you will always pay JUST 2.44 ILS - NO MORE!

When dealing with international business, currency conversion is always involved. Banks usually gives a very low rate, and you have to also pay the difference between the buy and sell rate. Both PayPal and moneybookers offering a lower rate than average, but PayPal makes it even lower:

For example, on the day that the representative rate between
Shekel and CAD is : 0.28897
PayPal offers : 0.27891
moneybookers : 0.27942

This difference may be because PayPal in T & C exchange rate includes a 2.5% fee, while moneybookers adds 1.99% to their wholesale exchange rates

Here I insert a table to compare the amount of money I lost while using 3 different transferring methods - moneybookers is simply the BEST!

METHOD	SENT	FEE	ACTUAL COST
PAYPAL	1500 ILS	59.7 ILS	1600.44 ILS
POST BANK	1500 ILS	53.67 ILS	1553.67 ILS
MONEYBOOKERS	1500 ILS	2.44 ILS	1504.44 ILS

The cost for receiving my transferring:

METHOD	ORIGINAL ILS	FEE	RECEIVED CAD
PAYPAL	1500 ILS	0 CAD	410.46 CAD
POST BANK	1500 ILS	30 CAD	379.83 CAD
MONEYBOOKERS	1500 ILS	0 CAD	426.32 CAD

Just painful to see how much money lost on the way of transferring funds when not using moneybookers:

METHOD	TOTAL LOST FUNDS
PAYPAL	59.7 ILS + 40.74 ILS (Credit Card fee) = 100.44 ILS
POST BANK	53.67 ILS + 30 CAD (bank deduction for wire) = 157.35 ILS
MONEYBOOKERS	2.44 ILS + 2 ILS (bank deduction) = 4.44 ILS

OK, moneybookers does NOT offer services to the United States, so if you are dealing with the States, you must suffer the PayPal fees.

The final conclusion maybe that:
For anyone purchasing online from the States, PayPal may still be the best choice.
For anyone who is NOT located in the States, better make sure to receive money using ONLY moneybookers.

Open moneybookers account - FREE

Anyone who knows a better payment method online, drop me a line!

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