As more consumers are shopping online, more online prepaid payment transaction services are popping up online. The idea is to make online shopping for all consumers convenient and pleasant. With that said, there are still some limits consumers face on a daily basis when utilizing those services. One particular online prepaid money transaction service that comes to mind is Moneybookers. While a great eWallet solution, it does have its limits. To find out what those limits are and more about Moneybookers, you will need to continue reading the article below.
Since Moneybookers utilizes strict anti-money laundering and anti-fraud policies, the service must limit the amount of money its customers transfer daily.
Once you create an account, you will be able to transfer funds to and from your bank account, utilizing a Moneybookers account. With that said, the amount of funds you transfer is limited. Since Moneybookers utilizes strict anti-money laundering and anti-fraud policies, the service must limit the amount of money its customers transfer daily. This is very common among online prepaid payment services. Fortunately, most consumers live on limited incomes, so they do not need to be concerned about large fund transfers.
Daily Transaction Limits
As mentioned above, more and more consumers are turning to the World Wide Web for shopping, gambling, and other services. They rely on electronic payment services to conduct business and pleasure online. Fortunately, there are plenty of options available, with most of them, including Moneybookers, having daily transaction limits. Such regulations limit the amount of money consumers can send out and withdraw from their personal accounts daily. If you play casino games online via websites, such as Dominoqq, you may find that these limits impose on your gameplay.
Of course, you can work around those limits by having your personal information verified. This is a simple process that can take anywhere from 24 to 48 hours to complete. Moneybookers and other online payment services verify its customers' information by transferring a small amount of money to their bank account. If the transaction goes smoothly, your daily transaction limit will be increased significantly.
Outgoing Transaction Limits
Moneybookers also has limits on its customers' outgoing transactions. No matter how much the customers have in his/her account, only a portion of that can be utilized for an outgoing transaction. Again, you can increase your outgoing transaction limit by verifying a credit or debit card. Unless you are willing to add a credit or debit card to your Moneybookers account, you will face limitations on your outgoing transactions.
You may hear that there are moneybookers without any transaction limits. Is this the case? Ultimately, the answer is yes. However, you will have to jump through several hoops before the limits are removed from your account. For instance, you will likely need to give the company your personal information. A picture of your license may be required too. Once you’ve done that, you may be able to get the limits removed. Or, they might be increased to 20,000.
Ultimately, you have to remember that you’re going to be required to deal with a lot of transaction limits when working with moneybookers. With that being said, you should learn as much as possible about these limits before moving forward. This will ensure that you’re able to discover a strategy for overcoming these limits and achieving your end goals. It is wise to rely on the information above since it will prove to be very helpful.