The oDesk Guide to Moneybookers

Moneybookers is an international e-wallet system based in the UK. When you receive a payment via Moneybookers, your Moneybookers account is instantly credited with the payment amount. You can then withdraw your money out of Moneybookers directly into your bank account, onto a credit card, or in some countries, paper cheque.

How does Moneybookers work on oDesk?

When you request a Moneybookers withdrawal, the payment is instantly sent to Moneybookers. If the transfer is successful, your funds will be credited to your Moneybookers account almost immediately.

Note: you must add your odesk.com email address to your Moneybookers account to receive the withdrawal. 

Once the funds are credited to your Moneybookers account, you can withdraw funds into your local bank account by electronic transfer, or request a paper cheque be mailed to you.

What is good about Moneybookers?

• Registration is free
• Receiving money into your Moneybookers account is fast and cheap
• Your funds can be transferred directly into your local bank account

What is not so good about Moneybookers?

• Withdrawing funds from Moneybookers into your local bank via electronic transfer is slow (3-7 days)
• It can be very difficult to verify your account, and until you do Moneybookers sets strict withdrawal limits
• Electronic transfer is only possible if your bank connects directly to the SWIFT network – if your bank uses a correspondent bank, Moneybookers may not work
• Moneybookers does not operate in Ukraine
• Incoming bank fees and unfavorable exchange rates can make Moneybookers expensive

What can I do to reduce the chance of having problems with Moneybookers?

Click here for Moneybookers horror stories and how to avoid them.

Moneybookers works very well for some, not well at all for others. For additional information on Moneybookers, read the related topics below, and read the Moneybookers FAQ.