Has anyone read the lengthy email in full?  What are the actual changes?

Well, remember I said it's lengthy.  

First, this is their explanation:

Why have we changed our Terms and Conditions?

Changes to our Terms of Use have become necessary because of the UK Payment Services Regulations 2009, which came into force on 1st November 2009, giving effect to the EU
Payment Services Directive (Directive 2007/64/EC). The aim of this new legislation is to
strengthen consumer rights and to provide a harmonised framework for payment services.
The changes will help to improve the quality and reliability of payment services and to ensure
that consumers are better informed about payment products. Moneybookers welcomes these developments and is committed to making its payment services even more efficient,
transparent and consumer friendly.

We have taken this change in legislation as an opportunity to update the Terms of Use as a
whole. In doing so, we tried to keep the �legal jargon� to a minimum. If you still have any
questions regarding our Services, we invite you to read the answers to Frequently Asked
Questions on our Website.

And this is the new "Terms and Conditions" text:

Moneybookers


1. About Moneybookers
1.1. Moneybookers is a company incorporated under the laws of England and Wales with registration number 4260907. We are authorised and regulated by the UK Financial Services Authority (FSA) as an issuer of electronic money. Our FSA Register number is 214225.
2. Scope of these Terms of Use
2.1. These Terms of Use govern the opening, use and closure of your Moneybookers Account. Together with our Privacy Policy they constitute the legal relationship between you and us. For the use of additional services you may have to accept additional Terms and Conditions as advised when you are ordering or using such services. You are advised to print or download and keep a copy of these Terms of Use for future reference. You can always view the latest Terms of Use on our Website.
2.2. You are also advised to read the answers to Frequently Asked Questions on our Website.
2.3. Depending on the type of Account you have, additional Terms and Conditions may apply as communicated to you at the appropriate time.
3. Your Moneybookers Account
3.1. Your Moneybookers Account is an electronic money account which enables you to send and receive electronic payments.
3.2. The electronic money on your Account is issued in accordance with the European Electronic Money Directive (Directive 2000/46/EC of 18th December 2000) and the relevant national legislation of the United Kingdom.
3.3. Your Moneybookers Account is denominated in a currency of your choice. You cannot change the currency of your Moneybookers Account once you have attempted to process a payment.
3.4. The electronic money held on your Moneybookers Account does not expire but it will not earn any interest.
3.5. You have the right to withdraw funds from your Moneybookers Account at any time, however, you may be required to confirm your identity beforehand. There is no minimum withdrawal amount but the funds on your Account must be sufficient to cover any applicable withdrawal fee. You can choose the method of withdrawal when submitting your withdrawal request.
3.6. Electronic money accounts are not bank accounts. By accepting these Terms of Use you acknowledge that the UK�s Financial Services Compensation Scheme (FSCS) does not apply to your Moneybookers Account. In the unlikely event that Moneybookers becomes insolvent, you may lose the electronic money held in your Account. However, Moneybookers strictly adheres to the legal requirements under the Electronic Money Directive and UK national legislation which are designed to ensure the safety and liquidity of funds deposited in electronic money accounts. For further information on how we safeguard customer funds, please visit our website.
3.7. The electronic money on a Moneybookers Account belongs to the person or legal entity which is registered as the Account holder. No person other than the Account holder has any rights in relation to the funds held in a Moneybookers Account, except in cases of succession. You may not assign or transfer your Moneybookers Account to a third party or otherwise grant any third party a legal or equitable interest over it.
3.8. Your Moneybookers Account may be subject to upload, payment and withdrawal limits, depending on your country of residence and the verification status of your Moneybookers Account.
4. Opening Your Account
4.1. In order to use Moneybookers� payment services you must first open a Moneybookers Account by registering your details on our Website. As part of the signup process you will need to accept these Terms of Use and our Privacy Policy. If you order additional services, you may be asked to accept additional terms and conditions. You should print out and keep a copy of these Terms of Use for future reference.
4.2. You must be 18 years or older and by opening a Moneybookers Account you declare that you are 18 years or older. We may require at any time that you provide evidence of your age.
4.3. You may only open one Moneybookers Account.
4.4. You may only open a Moneybookers Account if it is legal to do so in your country of residence. By opening an Account you represent and warrant to us that your opening of an Account does not violate any laws or regulations applicable to you. You shall indemnify us against any losses we incur in connection with your breach of this section.
4.5. All information you provide during the signup process or any time thereafter must be accurate and truthful.
4.6. You may only add payment instruments (such as bank accounts, credit cards or debit cards) to your Moneybookers Account if you are the named holder of that payment instrument. We take any violation of this requirement very seriously and will treat any attempt to add a payment instrument of which you are not the named holder as a fraudulent act.
4.7. During signup you will be asked whether you intend to use your Moneybookers Account for private or commercial purposes. If you have any intention to use your Account for commercial purposes, you must tell us, even if you use it also for private purposes. If you have stated that you will use your Account for private purposes only, you must tell us if at any point in the future you use it for commercial purposes by contacting Customer Service. You are using your Account for commercial purposes if you are receiving payments for or in connection with any business activity. We reserve the right to determine whether, in our reasonable opinion, you are using your Account for commercial purposes. If you are in any doubt about whether or not an activity amounts to a commercial activity, you should contact Customer Service.
4.8. Within 14 days of the date of opening your Moneybookers Account, you may close your Account at no cost by contacting Customer Service, however, if you have uploaded funds into your Moneybookers Account you may be required to provide identification documents before being able to withdraw funds. Transactions and fees for transactions undertaken before you close your Account (including those transactions that are not revocable and have been initiated but not completed before Account closure) will not be refunded.
5. Maintaining Your Account
5.1. You must ensure that the information recorded on your Moneybookers Account is always accurate and up to date and we shall not be liable for any loss arising out of your failure to do so. We may ask you at any time to confirm the accuracy of your information or to provide documents or other evidence.
5.2. We may contact you by e-mail or in various other ways as described in section 19 with information or notices regarding your Moneybookers Account. It is your responsibility to regularly check the proper functioning of your e-mail account or other methods of communication that you have registered with your Account and to retrieve and read messages relating to your Account promptly. We shall not be liable for any loss arising out of your failure to do so.
5.3. Fund uploads, payments received, payments sent and fund withdrawals are displayed in your online transactions history together with the fees charged. You should check your Account balance and transaction history regularly. You should report any irregularities or clarify any questions you have as soon as possible by contacting Customer Service.
6. Keeping Your Moneybookers Account Safe
6.1. You must keep your Account password safe at all times and never disclose it to anyone. Our personnel will never ask you to provide your password to us or to a third party. Any message you receive or website you visit that asks for your password, other than the Moneybookers Website or a Moneybookers payment gateway on a merchant website, should be reported to us. If you are in doubt whether a website is genuine, you should contact Customer Service. You should change your password regularly and you should never:

    * write down or otherwise store your password anywhere;
    * allow anyone to access your Account or watch you accessing your Account;
    * choose a password that is easily guessed from information someone might know or gather about you; or
    * choose a password that has a meaning.

6.2. If you have any indication or suspicion of your login details, password or other security feature being lost, stolen, misappropriated, used without authorisation or otherwise compromised, you should change your password and you must contact Customer Service immediately. Any undue delay in notifying us may not only affect the security of your Account but may result in you being liable for any losses as a result. If you suspect that your Account was accessed by someone else you should also contact the police and report the incident.
6.3. We may at any time suspend or otherwise restrict the functionality of your Account if we suspect that it has been accessed without your authorisation or we suspect that it has been otherwise compromised.
6.4. You must also take all reasonable care to ensure that your e-mail accounts are secure and only accessed by you, as your e-mail address may be used to reset passwords or to communicate with you about the security of your Account. In case any of the e-mail addresses registered with your Moneybookers Accounts are compromised, you should immediately contact Customer Services and also contact your e-mail service provider.
6.5. If you are using a public or shared computer to access your Moneybookers Account, you must ensure that your login details are not stored by the browser or cached or otherwise recorded. If you are using your own computer, you must ensure that only you have access to it. You should never use any functionality that allows login details or passwords to be stored by the computer you are using.
6.6. Additional products or services you use may have additional security requirements and you must familiarise yourself with those as notified to you.

there's more...

14. Fees
14.1. Fees depend on whether you are using your Account for personal or commercial purposes.
14.2. Fees can be viewed at any time in the Fee section on our Website. You should print or download and keep a copy of the Fee section together with a copy of these Terms of Use. Fees are subject to change in accordance with section 18.
14.3. Your transactions may be subject to currency conversions. If you make a payment from your Moneybookers Account denominated in one currency to a Moneybookers Account denominated in another currency, you will be asked to either make the payment in the currency of your own Account or in any other currency. If you chose the currency of your own Account, then the recipient will pay the fee for the conversion into the currency of his or her Account. If you chose the currency of the recipient�s Account, you will pay the fee for the currency conversion into the currency of the payment. If you chose a currency that is neither the currency of your own Account nor the currency of the recipient�s Account then you will pay the fee for the conversion into the currency of the payment, and the recipient will pay the fee for the conversion of the payment currency into the currency of his or her Account.
14.4. For every currency conversion, Moneybookers will apply the conversion rate as displayed on our Website. In addition we will apply a foreign exchange fee, which is also displayed in the Fees section of the Website and which is expressed as a percentage applicable in addition to the transaction fee.
14.5. Our Fees are either expressed as a percentage of the transaction or as a fixed amount in EUR. Where fixed fee amounts are displayed in a currency other than EUR, this is for information purposes only. If fees are deducted from a balance or a transaction denominated in a different currency, the EUR fee amount will be converted into an equivalent fee in that other currency based on the conversion rate applicable at the time and then deducted. We will not apply a foreign exchange fee on currency conversions of fees.
14.6. Fees payable by you will be deducted from your Moneybookers Account balance. Transaction fees will be charged when the transaction is executed. If your Account balance is insufficient to cover the fees we may refuse to execute the payment. Reversal or chargeback fees will be deducted when incurred.
14.7. If the deduction of fees results in a negative Account balance, you will be required to repay such negative balance by uploading sufficient funds into your Moneybookers Account. Failure to do so is a breach of these Terms of Use. Repayment of the negative balance is due immediately without notice, however, we reserve the right at any time to send you reminders that you need to upload funds or to take other debt collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge you expenses we have reasonably incurred in connection with any debt collection or enforcement efforts.
15. Your Data
15.1. The processing of your data is governed by our Privacy Policy which also can be found on our website. By accepting these Terms of Use, you also agree to the terms of our Privacy Policy. You should print and keep a copy of the Privacy Policy together with these Terms of Use.
15.2. Moneybookers collects, stores and processes your data in accordance with the UK Data Protection Act 1998. No data is stored by us outside the European Economic Area (EEA), however, in order to provide you with certain cross border services we may have to share your data with entities outside the EEA. By making payments to or by accepting payments from persons or entities outside the EEA, you consent to our sharing of your data with entities outside the EEA as far as this is reasonably necessary for the proper execution of payments or provision of our services.
15.3. If you detect any error in the data we hold on you, you should correct the data in your Account profile or, where this is not possible, by contacting Customer Service.
15.4. As a default, you will receive e-mail newsletters that will inform you about new product features, events, promotions, special deals etc. By accepting these Terms of Use, you agree to receive such e-mail newsletters on a regular basis. If you do not wish to receive any newsletters from us, you can opt out at any time by logging into your Account and change the appropriate setting in your Account profile. You can also opt out of receiving newsletters by contacting Customer Service. Any e-mail newsletter you receive will also give you the option to unsubscribe from any future newsletter.
15.5. After termination of your Moneybookers Account for any reason, we will continue to hold your personal Account data for a period of five years or such other period as prescribed by applicable law.
16. Liability
16.1. In case of an unauthorised payment or a payment that was incorrectly executed due to an error by Moneybookers, Moneybookers shall at your request immediately refund the payment amount including all fees deducted therefrom. This shall not apply:
16.1.1. where the unauthorised payment arises from your failure to keep the personalised security features of your Account safe in accordance with section 6 in which case you shall remain liable for the first 50 EUR (or equivalent in the currency of your Account);
16.1.2. if you fail to promptly notify to us any loss of your password or other event that could reasonably be expected to have compromised the security of your Account after you have gained knowledge of such event and you shall remain liable for losses incurred up to your notification to us;
16.1.3. in case the transaction was unauthorised but you have compromised the security of your Moneybookers Account with intent or gross negligence in which case you shall be solely liable; or
16.1.4. you fail to dispute and bring the unauthorised or incorrectly executed transaction to Moneybookers� attention within 13 months from the date of the transaction.
16.2. Section 16.1.1 shall not apply to transactions made after you have notified us in accordance with section 6.2 in which case Moneybookers shall remain liable and refund any unauthorised transaction immediately to you.
16.3. Without prejudice to the foregoing, you are asked to check the transactions history of your Moneybookers Account regularly and frequently and to contact Customer Service immediately in case you have any questions or concerns.
16.4. In case of any incorrect or misdirected payment, Moneybookers shall take reasonable measures to assist you with tracing and recovering such payments.
16.5. Subject to the foregoing, Moneybookers shall not be liable for any disruption or impairment of its service or for disruptions or impairments of intermediary services on which Moneybookers relies for the performance of its obligations hereunder, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond its reasonable control or the control of the intermediary affected.
16.6. Moneybookers shall not be liable for any indirect or consequential damages including but not limited to loss of profit, loss of business and loss of reputation.
16.7. Nothing in these Terms of Use shall operate to exclude liability for death or personal injury due to negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be excluded or amended by agreement between the parties.
16.8. Moneybookers� obligation under these Terms of Use is limited to providing you with an electronic money account and related payment services and does not make any statement in relation to or endorsement of the quality, safety or legality of any goods or services provided by a Moneybookers customer.
16.9. Moneybookers shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying commercial transaction between you and another Moneybookers customer.
17. Termination and suspension
17.1. We may terminate your Moneybookers Account or any payment service associated with it by giving you two months prior notice. You may terminate your Account with us at any time. Different termination rights may apply under a Merchant Agreement if you hold a Merchant Account.
17.2. Together with a termination notice or at any time thereafter we may give you reasonable instructions on how to withdraw remaining funds.
17.3. If your Account is subject to a reserve, termination of your Account will not affect our right to hold the reserve and to make deductions therefrom for the time agreed.
17.4. We may at any time suspend or terminate your Moneybookers Account without notice in case:
17.4.1. you breach any condition of these Terms of Use or any other condition applicable to specific services covered by separate terms and conditions;
17.4.2. you violate or we have reason to believe that you are in violation of any law or regulation that is applicable to your use of Moneybookers services; or
17.4.3. If we have reason to believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity.
17.5. We may suspend your Account at any time if:
17.5.1. we reasonably believe that your Account has been compromised or for other security reasons; or
17.5.2. we reasonably suspect your Account to have been used or is being used without your authorisation or fraudulently; and we shall notify you either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify you.
18. Changes to these Terms of Use
18.1. These Terms of Use and any additional terms and conditions that may apply to additional services are subject to change. Changes will be implemented with prior notice from Moneybookers under the procedure set forth in this section.
18.2. Moneybookers shall give notice to you of any proposed change by sending an e-mail to the primary any of the e-mail address registered with your Account.
18.3. The proposed change shall come into effect two months after the date of the change notice, unless you have given us notice that you object to the proposed changes before the changes come into effect. Changes that make these Terms of Use more favourable to you shall come into effect immediately if so stated in the change notice. Changes to exchange rates shall come into effect immediately without notice and you shall not have the right to object to such a change.
18.4. If you object to the changes they will not apply to you, however, any such notice of objection shall constitute a notice to terminate and close your Account.
19. How We Communicate
19.1. We usually communicate to you via e-mail. For this purpose you must at all times maintain at least one valid e-mail address in your Account profile. You are required to check for incoming messages regularly and frequently. E-mails may contain links to further communication on our Website.
19.2. Where legislation requires us to provide information to you on a durable medium, we will either send you an e-mail (with or without attachment) or send you a notification pointing you to information on our Website in a way that enables you to retain the information in print format or other format that can be retained by you permanently for future reference. You are required to keep copies of all communications we send or make available to you.
19.3. You can request a copy of the current Terms of Use or any other contractual document relevant to you by contacting Customer Service.
19.4. In order to view emails you need a computer with e-mail software that can display e-mails in HTML format. We may also send you attachments in Adobe Systems Inc.�s Portable Document Format (PDF), for which you need Adobe�s Acrobat Reader, which can be downloaded for free at www.adobe.com.
19.5. We will never send you any e-mails with executable files attached or with links to any executable files. If you receive any e-mail with such attachments, you should delete the message without clicking on the attachment. If you are unsure whether a communication is originating from us, please contact Customer Services.
19.6. We will communicate to you in English and will always accept communications made to us in English. You can choose your preferred language from the list of supported languages in your Account profile and we will send you automated e-mail notifications and communications regarding changes to these Terms of Use in your chosen language. For non-standard communication, we reserve the right to communicate with you in English. Documents or communications in any other languages are for convenience only and shall not constitute an obligation on us to conduct any further communication in that language.
19.7. Apart from communicating via e-mail, we may contact you via letter or telephone, where appropriate. If you use any mobile services, we may communicate with you via SMS.
19.8. You may contact us at any time by sending a message to Customer Service via the �E-Mail Support� facility on our Website or by calling +44 870 383 0232.
20. Complaints
20.1. Any complaints about Moneybookers or the services we provide should be addressed to us in the first instance by contacting Customer Service. You should clearly indicate that you are wishing to make a complaint to us. This helps us to distinguish a complaint from a mere query. We shall acknowledge receipt of complaints within 5 business days. You may request to be provided with a copy of our complaints procedure at any time.
20.2. We endeavour to provide you with an answer or resolution to your complaint within the timeframes as outlined by the Financial Ombudsman Service. Should this not be possible due to unforeseen circumstances or lack of information, we will contact you.
20.3. If your complaint is not resolved to your satisfaction, you may contact the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR, United Kingdom. For additional contact details you may also visit the website www.financialombudsman.org.uk.
21. Miscellaneous
21.1. No person other than you shall have any rights under these Terms of Use and the provisions of the Contracts (Rights of Third Parties) Act 1999 are expressly excluded.
21.2. Your Moneybookers Account is personal to you and you may not assign any rights under the Terms of Use to any third party.
21.3. Your Moneybookers Account is operated in the United Kingdom and these Terms of Use shall be governed by and interpreted in accordance with the laws of England and Wales. Any dispute under these Terms of Use or otherwise in connection with your Moneybookers Account shall be brought exclusively in the courts of England and Wales.
21.4. If any part of these Terms of Use is found by a court of competent jurisdiction to be invalid, unlawful or unenforceable then such part shall be severed from the remainder of the Terms of Use, which shall continue to be valid and enforceable to the fullest extent permitted by law.
22. Definitions
Various terms in these Terms of Use have a defined meaning as follows:
�Customer Services� means Moneybookers customer service, which you can reach by sending a message through the �Contact Us� facility on the Website or by calling +44 870 383 0232;
�Financial Ombudsman Service� shall mean the services provided by the United Kingdom Financial Ombudsman Service details of which can be found at www.financialobmubdsman.org.uk and who can be contacted at The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR, United Kingdom.
�FSA� means the Financial Services Authority of the United Kingdom whose address is 25 The North Colonnade, Canary Wharf, London E14 5HS, United Kingdom; further information on the FSA can be obtained on the FSA�s website at www.fsa.gov.uk ;
�Moneybookers� shall mean Moneybookers Ltd whose registered office is at Welken House, 10-11 Charterhouse Square, London EC1M 6EH, United Kingdom;
�Moneybookers Account� or �Account� shall mean the electronic money account you open and maintain on the Moneybookers Website;
�Moneybookers Website� or �Website� shall mean the website available at http://www.moneybookers.com;
�We�, �us�, �our� shall mean Moneybookers;
�You�, �your� shall mean you, the natural person or legal entity in whose name the Moneybookers Account is opened and maintained;