is an e-commerce business that allows payments
and money transfers to be made through the Internet.
It serves as an electronic alternative to traditional
paper methods such as checks and money orders.
Moneybookers performs payment processing for websites,
online auction sites, and other corporate users.
Moneybookers was bought by Investcorp Technology
Partners for €105 Million on March 2007.
Unlike many competing online fund transfer services
(e.g. PayPal), Moneybookers requires identity
verification before using their service to minimize
fraud and prevent money laundering. Additional
verification steps raise the maximum amount transferable
to €20,000 or equivalent within a 90-day
period. Moneybookers does not usually get involved
in merchandise disputes and the availability of
credit card chargebacks may be limited.
moneybookers.com domain was created 18 June 2001.
Almost 2 million new users registered with Moneybookers
in the initial 1.5 years of operation. In the
2nd Sept 2008 Moneybookers claims to operate in
all countries and handle over 5.5 million accounts.
Currently, as of 13 March 2009, Moneybookers claims
to have over 7 million account holders.
allows customers to send, receive and hold funds
in 29 currencies worldwide and offers local payments
in 30+ countries. However, Moneybookers US customers
cannot receive money and foreign customers cannot
upload funds using cards or accounts located in
the US. Moneybookers also offers escrow payments
(for online trading) as well as online SMS and
fax sending services.
MoneyBookers.com reserves the right to lock any
account at any time. Further they also reserve
the right to impose a fee on any account at any
time when a customer violates the terms and conditions
they have agreed with upon registration. This
information is stated within their terms and conditions.
is registered as a Money Service Business (No.
12115607) with HM Revenue and Customs in the United
Kingdom, and is licensed to operate within the
EU. Moneybookers is regulated by the Financial
Services Authority of the United Kingdom.
Moneybookers as of the 9th March 2009 has been
put up for sale by its owners Investcorp for an
estimated £365m. (Credit:
Man Australia does not represent Moneybookers.com