Paypal Alternatives

shabbir's Avatar, Join Date: Jul 2004
Go4Expert Founder
Many of you may have experienced that Paypal is reversing all the transaction done in last few days as personal Payments which means now we can only send Payments which have either Fees to business account or convert to personal account from business account.

This means our $1 daily competition does not work well with Paypal unless participating persons have a personal Paypal account.



We can definitely have a personal account but that is not the issue according to me. The issue is the way Paypal have handled it.

If they have a change in Policy ( Not allowing personal payments to be sent to or from India.) their interface should not support Personal Payment and that would have been the best way to go.

All said and done how G4Ef will handle this.

We will move to other alternative method of Payment. MoneyBookers

Why MoneyBookers?
  1. Very less Fees. See the screenshot.


  2. More professional approach when it comes to handling policy issues. I have an account with them since 2004 without any hassles.

I have seen other options like AlertPay but the fees to upload funds to them is too high.

So those who have issues with Payment in Paypal I will also try to Pay them in Moneybookers.

So go get your account now and replace in your profile from Paypal to your MoneyBookers account email.
Attached Images
File Type: jpg moneybookers-fee.jpg (6.9 KB, 55 views)
File Type: jpg paypal-fees.jpg (40.3 KB, 54 views)
shabbir's Avatar, Join Date: Jul 2004
Go4Expert Founder
Also I would like to add that many people who were paid for $1 competition can ask for Repayment once we have Paypal Issue Settling down and get an official email about the issue.

I know I have many PMs about the same and you will get back your money in either Paypal or in MoneyBookers which ever you Prefer but when we get official confirmation from Paypal for the same issue.
coderzone's Avatar, Join Date: Jul 2004
Team Leader
Some clarification and its the issue with RBI

http://www.nytimes.com/2010/02/11/bu.../11paypal.html
shabbir's Avatar, Join Date: Jul 2004
Go4Expert Founder
Thats a good piece of info
tickey's Avatar, Join Date: Feb 2010
Newbie Member
Really a helpful forum to join
My opinion regarding the alternate payment methods.. like MoneyBookers is how many buyers have account in MB and will they still open an account just to pay me ? I know its better to ask the buyer, but question is still there because most of the buyers have PayPal accounts. Don't you think its impractical to open an account just for one payment?
shabbir's Avatar, Join Date: Jul 2004
Go4Expert Founder
I don't think so.

I have shown all my buyers the issue and they have all asked me the alternative and are ready to move to that.

Its not always we who have issue but if Indians are not paid in Paypal its an issue in US/UK as well because they may need to pay a lot more when it comes to getting the same job done by a local person.
nimesh's Avatar, Join Date: Apr 2009
Invasive contributor
this means we also cannot transfer the money from paypal to bank accounts?
shabbir's Avatar, Join Date: Jul 2004
Go4Expert Founder
Quote:
Originally Posted by nimesh View Post
this means we also cannot transfer the money from paypal to bank accounts?
Yes. You cannot. It hit Newspapers in India 15 days after the incident. That is the sad part of it. RBI wants Paypal to adhere to some norms for sending Payments in India.
xpi0t0s's Avatar, Join Date: Aug 2004
Mentor
hey shabbir one of us is misreading the Fees page at Moneybookers. It might be free to receive money into your MB account but to convert that into useful cash requires a minimum fee of $2.45.

https://www.moneybookers.com/app/help.pl and look under Withdraw Funds

So this is completely pointless for a $1 competition; for that to be reduced to a reasonable percentage I'm going to have to win at least 50 competitions (even then it's a crazy 4.9%). PayPal might be crap for other reasons but at least they don't make small payments pointless. I have no other need for an MB account so until you can sort the problem with PayPal you may as well keep my winnings.
xpi0t0s's Avatar, Join Date: Aug 2004
Mentor
A PayPal withdrawal of $62.82 works out as having a $2.45 fee, and the fee is less for less than that (3.4%+$0.316) so actually to match PayPal I'll have to win over 62 competitions, which I haven't done in my entire g4e lifetime, so basically that cash is never going to get cashed in.