Moneybookers

Moneybookers (Skrill) has many plus points and some negative points.

Positive.

1 - Bank accounts are clear of gambling transactions.
2 - Deposits instants.
3 - Withdrawls to MB much faster than debit card withdrawls.
4 - Free deposits/withdrawls to MB account.
5 - Can transfer money to friends MB acc instantly for about 40p (0.5 euro).

Negative

1 - If MB goes belly up you do your dough. Think they give 2k protection. So may not be completely safe for biggger punters.
2 - Small charge to withdraw money to your bank - about 1.8 euro. I believe some VIP customers get that reimbursed.
3 - Amounts you can send per quarter are limited depending on the amount of verification you send them. The more you send them to prove who you are the more limit you get.
4 - The necessity to send scans of passports etc can be worrying to some but with money laundering etc its a fact of life nowadays.
5 - Most/Many bookies will not give you the sign up bonus when you use moneybookers or any e-wallet as the funding method.

Overall I think they are great and less costly than Neteller but they require more verification than bookies and other e-wallets. The big worry is if they go t1ts up but they are listed in the London Stock Exchange for what its worth.

Thanks for the reply. The main negative issues don't really affect or bother me. My major concern was the potential charges.

I have got sick of using my bank account as I have been stuck for funds last 2 days after a big win on another account that was covered on betfair.

So its free to deposit and withdraw to the gambling accounts, but when I want to depost and withdraw money out of moneybookers I will get charged?

If you deposit to Moneybookers via a internet bank payment like you pay a bill you won't get charged but to withdraw you will - 1.8 euro.

Get pro gambler status your fees are reimbursed,their points system is also very good.

GPT - yeh I have that and its great to get the fees reimbursed but the big worry is still if they go under when if you're a pro gambler status then you're likely to have 5 figures in there at least. Very hard to manage with a small balance < 2k and keep transferring from bank due to the delays of the banks.

A good idea is to have the missus and any friends have an account to diversify the risk. To me the few pence charges to transfer between accs is worth it.

Complete the verification process and you will get 'Progambler' status which allows unlimited transactions and gives you VIP status. Once a VIP you will also get all withdrawal fees refunded. Additionally you can get a security token that protects all your funds rather than than the usual €2,000 limit -

'To help with this, we supply a free Skrill Security Token, which must be used every time you access your account. This pocket device generates unique passwords that increase the protection of your funds. Apply for the Skrill Security Token, activate and always use it and your funds are 100% guaranteed.'

Also if you sign-up using a referral code it's possible to get a small rebate on your deposits.