Frustrated With PayPal? I Found A Good Alternative.

The growing sense of frustration with PayPal, what with their complicated verification process and high fees for Premier account holders, has led to a lot of research for a decent alternative. It was recently suggested that I try checking into Moneybookers, a UK-based web portal that accepts payments from 30 different countries including the USA through all major credit cards of those countries and checking account. They even have an Escrow-based auction payments program which allows for payment of an auction to be held in escrow until the buyer receives their merchandise.

The sign up and verification process is much faster and simpler than PayPal's, and it is FREE to receive money. There is a 1% charge to send money to others, and the cost for withdrawing funds to your bank account is a flat rate of USD 4.40. However, if you compare to PayPal's 1.9-3.8% per transaction charge, you're actually coming out ahead if you are receiving any amount of payment(s) above $220.00 USD.

Unlike PayPal, where the recipient of the money often gets charged a fee to receive the money, receiving money is always free. The premium for sending money is much less expensive than comparable quick pay alternatives.

If you do business or need to recieve payments for eBay or on the web, it's worth looking into Moneybookers as an alternative to PayPal's high prices.

Sign up for the service and test it out, leave some comments and tell people what you think of Moneybookers.