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The e-commerce.

moneybookers entrapment!


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it is false advertising that it costs 0 to receive payment.


in truth, they charge 3.5% for 'commercial' activities.


you may have been using them happily for some time, but, sooner or later, they will lock your account when you least expect and say that they suspect you are running commercial activities. they will ask you to send many deeply personal documents like photo id, passports, bank statements, credit card images, etc .. they will ask for your business certificates etc.


their main aim is to force you to sign this 10 page merchant agreement which converts your account to merchant, and licensing them to suck 3.5% of your ALREADY collected amounts.


No chargeback? another false advertising. in the same agreement, you sign away your rights to challenge chargebacks.


all received funds are cleared? hmmph, the crooks!



yes, they are NO better than paypal!



1.2. MERCHANT complies with MONEYBOOKERS fee schedule for using the

Merchant Gateway Service and the Email Pay as posted on the merchant service

centre website under www.moneybookers.com from time to time. Unless otherwise

stated, fees quoted are in EUROS. The Receive Money Fee for the MONEYBOOKERS

service via the Merchant Gateway Service for the term of this Agreement is 3.5 % of the

transacted volume plus EUR 0.29 per transaction. The Receive Money Fee for Email

Pay for the terms of this agreement is 3.5% of the transacted volume.


1.5. MONEYBOOKERS reserves the right to hold funds beyond the normal

distribution period for transactions that it reasonably deems suspicious in regards to

money laundering, fraud and other criminal activities. Furthermore, MONEYBOOKERS

reserves the right to lock and/or shut down MERCHANT’s accounts, if

MONEYBOOKERS has reason to believe that the MERCHANT is in any way involved

in such activity. Should such funds be held or accounts be locked and/or shut down,

MONEYBOOKERS will give top priority to resolving the matter as soon as possible.

MERCHANT shall carry all charge backs that are incurred by MONEYBOOKERS and

shall pay a penalty of EUR 25 per charge back case. MONEYBOOKERS shall deduct

such amounts from the MERCHANTS account.

1.6 The receipt of a payment into the MERCHANTS MONEYBOOKERS account

does not equate to the receipt of cleared funds. When the MERCHANT receive a

payment, it is liable to MONEYBOOKERS for the full amount of the payment plus any

fees if the payment is later invalidated for any reason. If there is a Reversal, or if the

MERCHANT lose a Chargeback, it will owe Moneybookers an amount equal to the

Reversal or Chargeback and our fees per clause 1.2 and MONEYBOOKERS will debit

the MERCHANTS balance to recover such an amount.

If there are insufficient funds in the MERCHANTS balance to cover its liability,

MONEYBOOKERS reserves the right to collect its debt to MONEYBOOKERS by using

any payments received in its account and otherwise the MERCHANT agrees to

reimburse MONEYBOOKERS through other means.

MONEYBOOKERS may also recover amounts the MERCHANT owes through legal

means, including, without limitation, through the use of a debt collection agency. For the

avoidance of doubt, “Reversal” means a payment that the MERCHANT received has

been removed from the balance of the MERCHANTS account for any reason other than

a Chargeback, and “Chargeback” means a request made by a buyer directly to his or

her credit card company to invalidate a payment.

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I made the same experience..


No Chargebacks?

Well thats not true.. Instead of No Chargeback it is 25EUR Chargeback fees.


Well i thought i signed in as Merchant. At least i was paying the merchant fees.

They kindly asked to sign the merhcant agreement to raise the moneybookers limits. No word of that this is necessary.

Then they locked my account. So no more sending money to my bank account until i signed the agreement.


So after all, PayPal is not that bad..





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guess whats next..


After i signed the agreement and send it back to moneybookers they had some surprising news for me..

It's called "rolling reserve" and it means that they keep 10% of the last 6 months moneytransfers on moneybookers.

Thats funny especially as they told me that they don't need to activate the rolling reserve for my account before i signed the agreement.





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