Moneybookers is a money transfer site that allows you to send and receive money via an account that is managed over the Internet. To open an account with Moneybookers, all you need is an e-mail address.

Many bookmakers have accounts with Moneybookers. You can use this service to deposit money in a sports betting account or to receive your winnings.

Advantages of using Moneybookers

• Secure transactions

The Moneybookers company is regulated by the Financial Services Authority (FSA): the regulatory body for all financial service providers in the United Kingdom. The FSA is directly answerable to the British Ministry of Finance. Moneybookers is therefore an extremely well regulated company which has to comply with numerous rules concerning security.

The site is protected by Secure Socket Layer (SSL) 128-bit technology, the same encryption technology used by on-line banks.

It is no longer necessary to leave your bank card number on each bookmaker’s site. You can either send it directly to Moneybookers when you deposit money on the site or you can deposit money through Moneybookers by cheque. Therefore, you never have to divulge your bank card number over the internet.

• Low costs

Some bookmakers charge high fees for deposits and payments made via cheque, bank transfer or bank card. Using Moneybookers can help to reduce your charges.

The following charges apply to transactions made through Moneybookers:

Deposits into a Moneybookers account	by bank transfer: By cheque: By bank card:	Free 0.50 € 3%
Withdrawals from a Moneybookers account	by bank transfer: By cheque: By bank card:	1,80 € 3,50 € 2,50 €
Transfers of money to bookmakers	1% with a maximum of 0.50€ Some bookmakers pay these charges for you.
Free for receiving money from a bookmaker

• Ease of withdrawals from accounts with bookmakers

Certain bookmakers refuse to recredit VISA cards and this is totally impossible with Mastercard. Therefore your only ways to withdraw money are by bank transfer or cheque, which can involve significant costs and delays. Moneybookers allows you to avoid these complications, as bookmakers who use this service credit your Moneybookers account quickly (from 1 to 3 days) and without charging fees.

• Speed of transactions with bookmakers

Sending money to bookmakers is instantaneous or virtually so. Receiving money from bookmakers’ accounts happens quickly (1 to 3 days). Note that you must supply the same e-mail address to your bookmakers and Moneybookers in order to allow these transactions to take place.

Drawbacks to using Moneybookers

• Complicated to make deposits and withdrawals via bank card

You have to provide copies of the front and back of your bank card, a recent bank statement for the account in question and a copy of an official identification paper. These restrictions are designed to protect you from the risk of fraud.

Our verdict on Moneybookers

Moneybookers is a very useful site if you want to limit your transaction fees or if you have accounts with several different bookmakers.

Access the Moneybookers website

Return to Money transfer websites