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Author Topic: payment method  (Read 9543 times)

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« on: October 19, 2010, 06:19 »
0
hi all,

I wonder what is the best option for payment?

Paypal is fast but i notice that currency converting isn't good rate at all, there is a difference of $0.03 by using paypal currency calculator compare to the conversion rate listed on yahoo finance. I lost $30 if i had converted $1000 to local currency.

I am from an asia country with 30% tax from US sales.

after the tax, currency depreciation and paypal conversion..i am getting little.

Possible to share your experience especially from asia countries.

Is poor conversion rate because it is how the way paypal earns?

thank you.


LaoKao

  • It's kinda hard to teach an old dog new tricks
« Reply #1 on: October 19, 2010, 19:37 »
0
Hi Mr. Kang,

Try moneybookers!!!
https://www.moneybookers.com/app/?rid=4101062

Cheers!

« Reply #2 on: October 20, 2010, 03:57 »
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what is the advantages of moneybooker? got to read..thanks!

anyone knows how to make the best out of payment method?


Hi Mr. Kang,

Try moneybookers!!!
https://www.moneybookers.com/app/?rid=4101062

Cheers!

« Reply #3 on: October 20, 2010, 06:22 »
0
I did a blog post on this once, perhaps that will help to get you started
http://blog.microstockgroup.com/how-to-best-receive-online-earnings-living-outside-the-united-states/

There was also a pretty good discussion about this previously in this thread
http://www.microstockgroup.com/general-stock-discussion/how-to-get-your-earnings-with-the-least-possible-fees/

« Reply #4 on: October 25, 2010, 18:15 »
0
Try moneybookers!!! is super!

« Reply #5 on: October 26, 2010, 03:30 »
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anyone had more experience to share with moneybookers? i had opened an account since as long as all major microstock agencies paid by it, there is no reason not to use it.

fritz

  • I love Tom and Jerry music

« Reply #6 on: October 26, 2010, 04:00 »
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I'm using moneybookers, it's great and no problems so far.

« Reply #7 on: October 26, 2010, 04:31 »
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i browse around the moneybookers, but i wonder will it automatically converted the US dollars or EURO to my local currency? or it can stay as the paid currency just like in paypal?

https://www.moneybookers.com/app/?rid=19085104

it seems quite option other than paypal, and it looks like the fee of drawing to local back is free for some countries. Register an account is quick. Take note of choosing your registered country, the first bank you add should be from the countries of you had registered, and then you can add more bank from other countries. so make sure you have a bank account of country u had registered as moneybookers.
« Last Edit: October 26, 2010, 04:55 by mtkang »

LaoKao

  • It's kinda hard to teach an old dog new tricks
« Reply #8 on: October 26, 2010, 05:00 »
0
USD or Euro is converted by your local bank. Marginally better than PayPal :)

i browse around the moneybookers, but i wonder will it automatically converted the US dollars or EURO to my local currency? or it can stay as the paid currency just like in paypal?


« Reply #9 on: October 26, 2010, 05:30 »
0
so the currency will stay as it is in the moneybookers account until we convert it to local bank?

USD or Euro is converted by your local bank. Marginally better than PayPal :)

i browse around the moneybookers, but i wonder will it automatically converted the US dollars or EURO to my local currency? or it can stay as the paid currency just like in paypal?


LaoKao

  • It's kinda hard to teach an old dog new tricks
« Reply #10 on: October 26, 2010, 06:06 »
0
Yes, once moneybookers wired the money to your local bank through an intermediary bank,
your local bank will automatically convert it to your local currency at prevailing rate. The rate is better than Paypal :)


 
so the currency will stay as it is in the moneybookers account until we convert it to local bank?

USD or Euro is converted by your local bank. Marginally better than PayPal :)

i browse around the moneybookers, but i wonder will it automatically converted the US dollars or EURO to my local currency? or it can stay as the paid currency just like in paypal?


« Reply #11 on: October 27, 2010, 05:00 »
0
i read something in moneybooker, it seems a change of currency is not possible?

For examples if shutterstock send me US$100, will moneybookers convert it once it is received? or it will stay as US$100 only till i withdrawn it to my bank?

paypal does let the currency stays as it is, it is useful that u can pay something online or wait for a better conversion rate.


Can I change the currency of my Moneybookers account?
Once your account has been opened, a change of currency is not possible unless your transaction history is empty. If this applies to you, you should go to the Messaging Centre: My Profile > I want to change the currency of my Moneybookers account.

LaoKao

  • It's kinda hard to teach an old dog new tricks
« Reply #12 on: October 28, 2010, 03:48 »
0
Any agencies that sent your payout in USD, it will stay as it is until you withdraw it to your local bank.
In your case, you might need to wait for favorable exchange rate offered by your local bank before withdrawing.
 


i read something in moneybooker, it seems a change of currency is not possible?

For examples if shutterstock send me US$100, will moneybookers convert it once it is received? or it will stay as US$100 only till i withdrawn it to my bank?

paypal does let the currency stays as it is, it is useful that u can pay something online or wait for a better conversion rate.


Can I change the currency of my Moneybookers account?
Once your account has been opened, a change of currency is not possible unless your transaction history is empty. If this applies to you, you should go to the Messaging Centre: My Profile > I want to change the currency of my Moneybookers account.

« Reply #13 on: October 28, 2010, 04:16 »
0
I opened my MB account years ago when it wasn't possinle to retrieve money from PP to my bank account here in Brazil My MB account is in UK, where I also have a bank account.

When I receive a payment in MB, it is converted ti UK pounds. Unlike PP, you can not have balances in several currencies and convert them only when withdrawing.

MB serves my needs well.

« Reply #14 on: October 28, 2010, 04:25 »
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hi williv, thanks for your reply.

So do we need to set our curreny in MB as US dollars or we can set it as our local currency? how about EURO? in paypal the EURO and US will remain as the currency till I transfer to my local bank currency.

For example agency A send me US$100, and agency B send me EURO $100 to my MB, and my moneybookers currency is in local curreny let's say a malaysia bank Riggits.

So the US100 and EURO$100 will stay as it is in my MB accounts?

I notice in paypal case, the US$100 and EUR$100 do stall as it is till i withdrawn it to local bank.

sorry for many question because i just want to get it right, since MB told me that currency in my MB accounts can't be changed after transaction.

 



Any agencies that sent your payout in USD, it will stay as it is until you withdraw it to your local bank.
In your case, you might need to wait for favorable exchange rate offered by your local bank before withdrawing.
 


i read something in moneybooker, it seems a change of currency is not possible?

For examples if shutterstock send me US$100, will moneybookers convert it once it is received? or it will stay as US$100 only till i withdrawn it to my bank?

paypal does let the currency stays as it is, it is useful that u can pay something online or wait for a better conversion rate.


Can I change the currency of my Moneybookers account?
Once your account has been opened, a change of currency is not possible unless your transaction history is empty. If this applies to you, you should go to the Messaging Centre: My Profile > I want to change the currency of my Moneybookers account.

« Reply #15 on: October 28, 2010, 04:33 »
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hi madelaide, my paypal do support several currencies, i got balance in US$ and Euro$, and how about MB?u mentioned it is converted to UK pounds, do u mean it automatically converts USD to UK pounds?


I opened my MB account years ago when it wasn't possinle to retrieve money from PP to my bank account here in Brazil My MB account is in UK, where I also have a bank account.

When I receive a payment in MB, it is converted ti UK pounds. Unlike PP, you can not have balances in several currencies and convert them only when withdrawing.

MB serves my needs well.

« Reply #16 on: October 28, 2010, 04:37 »
0
mtkang, like I said:  "Unlike PP, you can not have balances in several currencies (...) ".  Any currency is converted to the currency of your MB account (UK pounds, in my case).


« Reply #17 on: October 28, 2010, 04:48 »
0
oic, i am sorry since i misunderstand the sentences at first.

so i think Moneybookers is not supporting different currencies as balances. I guess the conversion takes place as soon as it is into the MB account. So one should set the currency correctly, for example US dollars if the incoming payment is in US dollars.

mtkang, like I said:  "Unlike PP, you can not have balances in several currencies (...) ".  Any currency is converted to the currency of your MB account (UK pounds, in my case).

LaoKao

  • It's kinda hard to teach an old dog new tricks
« Reply #18 on: October 28, 2010, 19:38 »
0
That's correct! So choose the currency of your choice wisely, Mr. Kang ;)

mtkang, like I said:  "Unlike PP, you can not have balances in several currencies (...) ".  Any currency is converted to the currency of your MB account (UK pounds, in my case).

« Reply #19 on: October 29, 2010, 04:41 »
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recently there is one agency offers to pay by bank transfer, to bank with IBAN or SWIFT code. Do we have to pay for this option? and how come this option is not widely available?

« Reply #20 on: November 19, 2010, 07:11 »
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anyone know how to check the history of moneybookers account?

i got 1 payments last month and a payment today, but when i click history, it shows only today transactions. i do a search with date range but only got 1 transaction as results.

the balance is corrected, but how can we get a history of all the past transactions?

thanks.

« Reply #21 on: November 19, 2010, 08:20 »
0
I recently checked this matter in order to find out the cheapest way to get payment in my local currency. my conclusion is that the best way to get the payment is via a regular check.
The only charge is 0.22% commision for the conversion using their much-better-then-paypal ratio.

« Reply #22 on: December 08, 2010, 07:40 »
0
I recently transfer some amounts from moneybookers to my bank, and i realize i was charge for around US$7-8 from the bank, for so called - Inward Telegraphic
Transfer.. it is the same charge i got, when one agency transferred $ directly to the bank.

While directly to the bank, i expect the charge..but do you get charged for something like that when you use moneybookers? i can't recall i saw the charge with paypal.

will send the bank an email...

« Reply #23 on: December 08, 2010, 09:02 »
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You can chose on MB if you want to withdraw money on VISA card  number or on bank account...
Bank charge fee to me only if I make payout on bank acc. but if money goes on VISA number they don't charge me anything..
So try to make payout on your VISA number....

« Reply #24 on: December 08, 2010, 09:05 »
0
oic..my bank account is a debit card as well..so i should have charged it to the debit card?

I didn't recall my bank charge me the Inward telegraphic fee for paypal to bank directly, or i just didn't remember it.

You can chose on MB if you want on VISA card or on bank account...
Bank charge fee to me only if I make payout on bank acc. but if money goes on VISA number they don't charge me anything..
So try to make payout on your VISA number....

« Reply #25 on: December 08, 2010, 09:49 »
0
Probably you have two number on you VISA card (this worth ONLY for VISA card), one number (small,near your name and surname) is your bank account number and another is big number (in group of four digits) is VISA card number...
So you can make payout on your bank acc. on two ways...One is  on your registered bank account number (SWIFT) or on your VISA card number ( big number on your card in groups of 4-digits)... On both ways money should come on the same bank account...
There is no differences between your debit or credit VISA cards for payouts...
ONLY VISA allows payouts (that is reason why VISA is only card option for withdraw on Moneybookers ), there isn't same option for Mastercard for example...
« Last Edit: December 08, 2010, 09:52 by borg »

« Reply #26 on: December 11, 2010, 04:22 »
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i like cash payment method.



newbielink:http://thebest-creatine.com/ [nonactive]


velocicarpo

« Reply #27 on: December 11, 2010, 08:01 »
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Moneybookers!
Stay away from paypal! They are scammers.
In any moment they may freeze your account with no reason or for ridiculious reasons and just keep your money.

lisafx

« Reply #28 on: December 11, 2010, 15:21 »
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I have had good luck with Paypal up to now.  Because of new US tax laws I will now be getting half my payouts on MB and half on PP.  I already pay taxes on all my earnings, but don't want the nightmare of getting 1099'd twice on the same money - once through the agencies and once through Paypal.  

Can someone in the US who uses moneybookers answer a question for me?  Is there always a fee to transfer money to your checking account?  I seem to remember the one time I did there was a fee.  There is no transfer fee from paypal to move money into my checking.

I have searched the MB site and can't manage to find where they have this info.    Thanks in advance if anyone can help :)

ETA:  Just found it.  Finally.  Boy, their site is hard for a newbie to negotiate.  Everything seems hidden away.    Also just noticed they will "rebranding" themselves as Skrill. 
« Last Edit: December 11, 2010, 15:33 by lisafx »

« Reply #29 on: December 11, 2010, 15:30 »
0
I have had good luck with Paypal up to now.  Because of new US tax laws I will now be getting half my payouts on MB and half on PP.  I already pay taxes on all my earnings, but don't want the nightmare of getting 1099'd twice on the same money - once through the agencies and once through Paypal.  

Can someone in the US who uses moneybookers answer a question for me?  Is there always a fee to transfer money to your checking account?  I seem to remember the one time I did there was a fee.  There is no transfer fee from paypal to move money into my checking.

I have searched the MB site and can't manage to find where they have this info.    Thanks in advance if anyone can help :)

I started to use moneybookers one time when there was some kind of hold-up with payments at Paypal (don't remember if it was Paypals fault...I seem to remember some hassle between IS and Paypal and payments weren't coming through and it was going to take weeks to straighten out). And yes, for me, there were always fees for the transfers. I stopped using them for that reason.

velocicarpo

« Reply #30 on: December 11, 2010, 18:02 »
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On MB I pay for the transfer to my bank account 1,80 , but I`m not US based

lisafx

« Reply #31 on: December 11, 2010, 18:06 »
0
Thanks for the responses.  I had remembered the same as you Cathy.  I think we must have tried using them at the same time, for the same reason. 

After looking around their site it appears that the transfer fee is $2.38.  That's okay if I am transferring a large amount of money, I suppose.  Assuming that there isn't also a fee for % of money transferred.


 

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