Moneybookers
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- Who can register for Moneybookers withdrawals?
- What fees and other costs are associated with Moneybookers withdrawals?
- How long do Moneybookers transfers take?
- How do I register for Moneybookers withdrawals?
- How do I edit my Moneybookers information?
- How do I remove my Moneybookers information?
- Are there any restrictions on Moneybookers withdrawals?
- I've registered for Moneybookers withdrawals. How do I transfer my earnings?
- I'm a buyer. Can I pay by Moneybookers?
Providers in most countries can register with Moneybookers - however, not all banks are supported for withdrawals from Moneybookers. Even amongst supported countries, features and fees vary widely. In addition, Moneybookers will limit your account (limits can be raised by passing their verification procedures).
Moneybookers has very strict account verification rules. It is vital that you provide your real and confirmable name, address, birthdate, etc. Moneybookers will audit your personal information after you start using your account and you will be locked out if they find a discrepancy.
Moneybookers fees are relatively high, but can be minimized by keeping your Moneybookers account in US Dollars (account currency is set during registration and cannot be changed).
When withdrawing your earnings from oDesk to Moneybookers:
- oDesk charges $1 per withdrawal to Moneybookers.
- If your Moneybookers account is in a currency other than US Dollars, Moneybookers will add a currency conversion fee of 1.99% to the exchange rate on incoming transfers.
When transferring your money out of Moneybookers:
- Withdrawal fees vary by withdrawal method, destination country and currency choice (see Moneybookers's withdrawal fee schedule for details). Moneybookers continues to expand their network of local banks to allow low-fee transfers to more customers. For these countries Moneybookers fees are competitive with or even lower than PayPal.
- If your Moneybookers account is in US Dollars but your withdrawal is not, you may be charged a currency conversion fee of 1.99% (this depends on your country, currency and bank).
- Your bank may charge you for receiving an incoming SWIFT deposit (fees vary by country and bank). Your bank may also charge a currency conversion fee if the deposit is not in your account's currency.
Total fees generally range from less than 3% to more than 7%. To minimize fees:
- See if Moneybookers can connect to the domestic payment network in your country - if so, your fees will be very low.
- Ask your bank how much they charge for incoming SWIFT transfers. Fees vary widely; you may find a much better deal at a different bank.
- Keep your Moneybookers account in US Dollars. This must be set during account registration and cannot be changed later.
- Request your funds by cheque (if available in your country). This may lower your fees, but you must feel comfortable with the postal system.
Withdrawals from oDesk to Moneybookers are nearly instantaneous (it should not take more than a few hours at most). You should receive a confirmation email from Moneybookers to confirm the transfer. However, withdrawing earnings from Moneybookers can take some time and will vary by method and country.
If you believe your Moneybookers withdrawal failed, please contact Customer Support. They can check the status of the transfer and recover the untransfered funds.
Registering for Moneybookers withdrawals is done partly with oDesk and partly with Moneybookers. You may create a new account or use an existing Moneybookers account.
Currency Considerations: We recommend setting your primary currency to US Dollars on Moneybookers to reduce currency conversion fees. This must be set during account registration and cannot be changed later.
If you need to a new Moneybookers account:
- Confirm with Moneybookers that your country is supported and that their features and fees are acceptable.
- Go to Payments > Payment Methods. Select the Withdrawals tab.
- Click the Sign Up Now link in the Moneybookers Actions column.
- You'll be taken to the Moneybookers website to register for a Moneybookers account with your @odesk.com email address or your personal email address (in Profile > User Info).
- Complete the Moneybookers registration process, including confirming your email address.
- If you do not receive a confirmation email shortly, be sure to check your spam folders. Emails sent to your @odesk.com email address are forwarded to the personal email address we have on file - so either way you will be checking for the confirmation message from Moneybookers in the same place.
- Once confirmed, we suggest you set up your preferred withdrawal method with Moneybookers before moving on to the next step. The process varies by method and country.
- Complete the Moneybookers withdrawal method activation process (directions below).
It is vital that you provide your real and confirmable name, address, birthdate, etc. Moneybookers will audit your personal information after you start using your account and you will be locked out if they find a discrepancy. Don't risk this! Just be truthful.
If you have an existing Moneybookers account:
Registered to your @odesk.com or personal email address (in Profile > User Info).
- No special action required. Skip directly to the activation directions below.
Registered to some other email address.
- Use one of the following two methods to make your email address on Moneybookers match oDesk.
- Add your @odesk.com or personal email address (in Profile > User Info) to your existing Moneybookers account. Make sure you complete address verification.
- Change your personal email address (in Profile > User Info) to match your Moneybookers account. Click the link in the confirmation email from oDesk to complete the change.
- Complete the Moneybookers withdrawal method activation process (directions below).
To complete your Moneybookers withdrawal method activation:
- Return to oDesk's Payments > Payment Methods. Select the Withdrawals tab.
- Use the Click here link in the Account column.
- Press the Enable Moneybookers button. For security reasons, Moneybookers withdrawals will become active in 4 days.
Please confirm your Moneybookers account and complete any necessary verification process with them before initiating a Moneybookers withdrawal on oDesk. You are responsible for making sure that Moneybookers provides the services you need before you withdraw money. Once you submit a withdrawal oDesk transfers the money to Moneybookers. They can take up to 30 days to return funds if the transaction needs to be reversed (like if funds were sent to the wrong email address - so make sure you've registered the correct email with both oDesk and Moneybookers).
Never make a withdrawal from oDesk to Moneybookers until you've figured out how to access your money after the transfer.
In most cases, changes to your Moneybookers account must be done directly on Moneybookers. (When you log into the Moneybookers website most editable options are in My Account > Profile.) It is possible to remove your email address from one Moneybookers account and add it to another or register it for a new account. It is also possible to add additional email addresses to an existing account. Just keep in mind that an email address can only be associated with only one Moneybookers account at a time.
oDesk can only send your earnings to the email address specified during the withdrawal method registration process. To send to a different email address:
- Remove Moneybookers as a withdrawal method.
- Re-add Moneybookers as a withdrawal method using a different email address. For security reasons, there will be a waiting period before the withdrawal method is available again.
Once you withdraw funds using Moneybookers oDesk does not have control over the funds, cannot reverse the transaction and cannot ensure that you receive them. It is your responsibility to ensure your Moneybookers account is properly set to handle the transactions.
To remove your Moneybookers withdrawal method:
- Go to Payments > Payment Methods. Select the Withdrawals tab.
- Press the Remove button in the Actions column.
- Press the Confirm button in the Actions column. You are free to re-add Moneybookers as a withdrawal method again anytime.
Removing your email address from a Moneybookers account must be done directly with Moneybookers. (When you log into the Moneybookers website the option is in My Account > Profile.) It is possible to add a new primary email address to your Moneybookers account then continue to use it after deleting the @odesk.com address. Closing the account entirely must also be done directly with Moneybookers.
oDesk withdrawals to Moneybookers have a minimum of $1. Moneybookers availability, features and fees vary by country and Moneybookers may place additional restrictions on your account.
oDesk charges a $1 fee for Moneybookers withdrawals. So if you only withdraw $1 there will be nothing left to deposit in your Moneybookers account.
oDesk does not automatically transfer your earnings to your Moneybookers account. You must make withdrawals manually in Payments > Withdrawals. (Learn more about withdrawing your earnings.)
At this time, buyers cannot pay with Moneybookers, Western Union or any other online payment vendor. But please check back periodically as we're continuously working to expand the options for our users. (Read more about existing payment methods.)
