Moneybookers (Skrill) – payment method offered by online bookmakers

by 12.02.2017 0 comments

Today, with the Internet providing a plethora of business opportunities on the Internet, various money transaction facilities have also cropped up. One such facility is Moneybookers, a popular electronic substitute for traditional banking methods such as cheques, drafts etc. It provides an easy online payment and funds transfer system enabling you to make payments using more than 50 different cards that include major credit and selected debit cards in countries across the world. It processes payments for corporate clients, websites and online auction houses and has currently been integrated into the eBay network as one of their official payment options.

Established in 2001 in London UK, Moneybookers became a close competitor to the most popular e-commerce system, Paypal. Registered in the United Kingdom with HM Revenue and Customs as a Money Service Business, Moneybookers is regulated by the UK Financial Services Authority and is licensed to function within the European Union. As of now, it provides over 200 payment alternatives in more than 41 currencies spread over 200 countries worldwide. They also provide Escrow services along with SMS and Fax sending facilities. US customers have a slight disadvantage here as they cannot receive funds and nor can any foreigner upload funds from a US-based account or card to their e-wallet account.

In order to use the service, you must register with Moneybookers first by filling up some of your personal details. This identity verification is mandatory in order to prevent money laundering activities and to reduce frauds. The whole registration process takes less than five minutes and all you require to start using your account is an email id. However, funds can only be transferred to your local account once the bank verification has been completed. One can withdraw a maximum of €50,000 or an equivalent currency in a 90-day period, but the withdrawal limit can be increased by providing additional verifications such as bank account, credit card or address verification. Each one of the verifications will subsequently increase your withdrawal limits.

Moneybookers is a widely chosen online payment solution not only for corporate consumer, online auction houses or those using it for personal purchases, but also highly sought after by online gamblers as the most convenient and safe payment option. As the e-wallet system is accepted by most online bookmakers and betting exchanges, it is one of the perfect solutions for gamblers indulging in online gambling. It is a completely safe medium for payments as it uses SSL technology and 128-bit encryption verified by Verisign, just like any online transactions carried through banks. Security tokens are also available to players who wish to transact large amounts through Moneybookers to and fro from their gambling accounts.

In order to use the e-wallet system to fund your betting account with online bookmakers, you need to first upload funds to your Moneybookers account using one of the available credit card options or do it through wire transfer. Once the funds have been uploaded, you can transfer money to your gambling account and indulge in sports betting or any other online gambling activities that you are interested in. You no longer have to worry about identity theft, intercepted credit card details or any other online transaction dangers that one might face carrying out transactions through an insecure mode. Your credit card details are stored in Moneybookers safe online system and never exposed to a third party nor do you have to fill in the details every time you transact through the site.

Payments are almost instant, as long as there are adequate funds in the user’s account. Electronic transfers to local accounts may take 5 to 7 days. Users can also make internal payments to friends or business associates through the instant peer to peer transfer option. All payments are carried out by the use of an email address. Unfortunately for US customers, due to the ban on online gambling in most US states, Moneybookers, like all other e-commerce systems, does not allow them to use their account for funding gambling accounts. They can only use their e-wallet account for e-commerce services or for peer to peer transactions. However, there are various online betting sites that offer gambling options to US players.

Now, how would one find an online bookmaker or sportsbook or betting exchange that allows Moneybookers as one of its payment options? It is not very difficult to locate such sites, as most of the leading online bookmakers and gambling sites offer this option. You may also check their list of payment options and if you find the e-wallet system listed there, you know that it is one of the available options. Being a secure transaction alternative, it is one of the best solutions as compared to using your credit card, as you cannot be too sure of the security at some of the gambling sites, although most of them use the SSL and 128-bit encryption for full security measures.

Another advantage of using Moneybookers is that you can avail yourself of certain added facilities such as a special first deposit bonus or any other kind of free cash bonus. These bonuses may vary from site to site and may not be offered by all, so you will need to check the details at the gambling site if you wish to earn this free bonus, which again may have some criteria for redemption. Selection of gambling sites depends entirely on you and choosing the best and reliable services is advisable. There are several leading bookmakers that offer Moneybookers as a payment option, for example, Bet365, Ladbrokes, Canbet, Betsson Sports to name just a few.

Now that you found out all that you need to know about Moneybookers, you might want to sign up and start an account with them if you are an online bettor. You will find transacting with the e-wallet system very smooth, convenient and fast too. For more details you can look up their official site and find answers to your queries. They also have a very good support system that you can use. You will generally receive answers to your questions the same day.

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