Moneybookers charging huge fees for bank transfer.

[chemprac]

Hi,

I use a Singapore bank account and recently I have noticed that the amount I withdraw from moneybookers is way more than what I receive in my account. Each transaction is having about 30-40 dollars deducted from them. I called DBS (the bank I use) and they say they are not charging any extra fees. This happened about a couple of months ago as well and moneybookers told me they were changing their banking arrangements in Singapore. I have not been able to get any help from them and they are asking for a swift statement which my bank says it does not have, they are saying its a MER transfer whatever that is, from and they have sent over the amount that I have received. I was wondering if anyone else has faced a similar problem and had any suggestions or solutions to get moneybookers to help.

Thanks

[ck7]

Gaped.

[chemprac]

Nvm, found some answers.

[Wulfman14]

im in india guy and it they take almost 40 dollars from what i send . i emailed them and they said we are not responsible for charges that middle men banks charge for your transaction. they clearly stated we do not get any of that money. so i learned if im going to fund skrill its going to be for a lot otherwise it aint worth it.

[HeeeHAWWWW]

You get this a lot with international transfers, there's a third party in-between that takes a %

[Hareeba!]

Been a while since I did a bank transfer out of Skrill but I don't think there was any fee last time.

There can be a foreign exchange charge if you're account is in a different currency. Is that what you're referring to?

[theballsflop]

Hi bud, I'm from Singapore too and yes, I believe those are telegraphic transfer fees that we are paying on our withdrawals. It used to be zero about 6-12 months ago, guess the change in policy means those fees are now being paid by us instead of Skrill.

[rolltideroll0]

This makes absolutely no sense to me. I used to work in Singapore @ HSBC (as an expat) and I can tell you with 100% certainty that transferring money to Singapore is one of the most fluid, quickest, and efficient methods. It also carries one of the lowest international transaction costs. What % fee are they charging u guys?

[Optional]

This makes absolutely no sense to me. I used to work in Singapore @ HSBC (as an expat) and I can tell you with 100% certainty that transferring money to Singapore is one of the most fluid, quickest, and efficient methods. It also carries one of the lowest international transaction costs. What % fee are they charging u guys?

Maybe a new age money transfer system of that size has more trouble than the average company there.

If Singapore frowns on any of the activities Skrill allow transactions for it might cost more too at a guess.

But personally I dislike Skrill for forcing me to change my wallet to my local currency so i have to pay their high way robbery 2.5% premium on the current exchange rate each time I want to transfer money between two US$ or Euro currency books using them in between.

I avoid them as much as possible.

[Stallion]

Moneybookers won't be available for Canadians Jan 31st of next year!!

[theballsflop]

This makes absolutely no sense to me. I used to work in Singapore @ HSBC (as an expat) and I can tell you with 100% certainty that transferring money to Singapore is one of the most fluid, quickest, and efficient methods. It also carries one of the lowest international transaction costs. What % fee are they charging u guys?

No doubt it is fluid and efficient, but interbank fees exist. I notice that withdrawals from Skrill to my bank (United Overseas Bank) are flowing from BkofAma and JPMorgan Chase, no different from the past. However, fees are popping up on the telegraphic transfer receipts. Will post up a pic

[theballsflop]

As you can see on this credit advice, the charges are actually from the remitting bank aka Deutsche Bank in this instance. Thus, fees not being charged by the receiving bank, but charged by the remitting bank.

[Hareeba!]

I'm a bit puzzled by all this as it seems from this page that the cost of sending and withdrawing is quite low?

https://www.skrill.com/en/personal/fees

I haven't actually made a direct withdrawal for quite a while but may give it a test next week to check it out.

[Optional]

[ATTACH]62994[/ATTACH]

As you can see on this credit advice, the charges are actually from the remitting bank aka Deutsche Bank in this instance. Thus, fees not being charged by the receiving bank, but charged by the remitting bank.

Do you see these fees whenever anyone wires you or just skrill?

I've seen them a few times over the years, if you dont use a SWIFT code, but it's every time with skrill, swift or not, and often multiple.

My theory is that Skrill get a cut somehow.


You can't rely on a single thing Skrill tells you or publishes about fees, they will almost never be as published, and even if close will change by next time you do the transfer.

SCUMBAGS

[Hareeba!]

Do you see these fees whenever anyone wires you or just skrill?

I've seen them a few times over the years, if you dont use a SWIFT code, but it's every time with skrill, swift or not, and often multiple.

My theory is that Skrill get a cut somehow.


You can't rely on a single thing Skrill tells you or publishes about fees, they will almost never be as published, and even if close will change by next time you do the transfer.

SCUMBAGS

Well that's totally contrary to all my dealings with them over almost a decade now.

As I said, it's been quite a while since I took a direct withdrawal but from recollection there was a nominal fee charged but as a VIP customer it was refunded at the end of the month.

But when I take into account the loyalty points which I redeem for cash every few months the charges they quote are something I'd not be complaining about.

[Optional]

I'm a bit puzzled by all this as it seems from this page that the cost of sending and withdrawing is quite low?

https://www.skrill.com/en/personal/fees

I haven't actually made a direct withdrawal for quite a while but may give it a test next week to check it out.

This is the biggest rip off


Currency conversion

For transactions involving currency conversion Skrill adds a fee of between 2.99% and 4.99%** to the wholesale exchange rate we offer.



About a year or so ago they insisted my wallet me changed to AUD.

So, if I deposit from AU bank it costs nothing.

But they take 3% if I send it 5D in US$

Then I win and withdraw and they transfer it back to AU% and take 3%

So I deposit to Pinny in US$, they charge 3% on top of real exchage rate.

Win.... steal 3% more if i want to withdraw.


Any company who does business like this is exposing themselves as greedy grasping assholes.

But how they can stay in business and legally charge 3% to 5% OVER the real exchange rate is just fuckiung outragious.

Anyone anywhere in the world go ask your bank what they charge premium for foriegn exchange.

.05% is expensive. .025% is normal.

Skrill charge 20 TIMES that normal amount and force it on unsuspecting people multiple times per dollar.'

Boycott them.

[Hareeba!]

This is the biggest rip off


Currency conversion

For transactions involving currency conversion Skrill adds a fee of between 2.99% and 4.99%** to the wholesale exchange rate we offer.



About a year or so ago they insisted my wallet me changed to AUD.

So, if I deposit from AU bank it costs nothing.

But they take 3% if I send it 5D in US$

Then I win and withdraw and they transfer it back to AU% and take 3%

So I deposit to Pinny in US$, they charge 3% on top of real exchage rate.

Win.... steal 3% more if i want to withdraw.


Any company who does business like this is exposing themselves as greedy grasping assholes.

But how they can stay in business and legally charge 3% to 5% OVER the real exchange rate is just fuckiung outragious.

Anyone anywhere in the world go ask your bank what they charge premium for foriegn exchange.

.05% is expensive. .025% is normal.

Skrill charge 20 TIMES that normal amount and force it on unsuspecting people multiple times per dollar.'

Boycott them.

You seem to have a problem?

They never made me open an AUD account. I had a USD account and requested an AUD one. So I now have both.

If your accounts with Pinnacle etc are in USD you should be using your USD wallet. Of course you will be charged for exchange if you transfer between currencies. All money dealers charge you. Have you looked at what your bank charges? I went to make a foreign currency transfer from my bank last week and was blown away by what they wanted to charge so I told them where to stuff it.

Get Pinnacle to change your account to AUD if that's what your wallet is denominated in. Simple!

I certainly won't be boycotting them. Of all the businesses I've ever dealt with I've found Moneybookers/Skrill to be one of the most efficient and best. I've paid next to nothing in charges to them over all that time and been handsomely rewarded with loyalty point cashouts and other special offers from time to time. I recommend them to anyone needing an e-wallet.

[Optional]

Yeah I do have a problem with them.

They said customers are not allowed to hold multiple currency wallets anymore.

Thanks, I know how to arrange my accounts to avoid fees already, and avoiding skrill is top of the list of strategies.

You will learn if and when you do use them again ;-)

[Hareeba!]

Yeah I do have a problem with them.

They said customers are not allowed to hold multiple currency wallets anymore.

Thanks, I know how to arrange my accounts to avoid fees already, and avoiding skrill is top of the list of strategies.

You will learn if and when you do use them again ;-)

Well you must just have been talking to the wrong person because I do have two accounts. One USD and one AUD. And to suggest they made you close your USD and open an AUD account makes no sense and is frankly hard to believe.

[Optional]

Maybe its because you have a premium account.

I know it makes no sense but Ive spoken to multiple people and sent multiple emails about it and get indifference, canned responses or what sound like lies.

Other people have the same problem as me.

[dink]

Optional is not a crap talker

[theballsflop]

If you do not qualify for skrill vip, u will only be allowed to hold one currency in your skrill account. For vips,multiple currencies are possible.

Optional, mind telling me how to avoid such fees? I have been shafted left and right for a long time with their premiums on exchange rates.

[Optional]

If you do not qualify for skrill vip, u will only be allowed to hold one currency in your skrill account. For vips,multiple currencies are possible.

Optional, mind telling me how to avoid such fees? I have been shafted left and right for a long time with their premiums on exchange rates.

Like Hareeba said I have book accounts in Aussie dollars where they let me and use books that will *************** to my aussie bank account for free, or Poli if I can, or Netteller if I have to. 5D and Uwin are two books I like to use that are a hassle to use anything but skrill and force these 3% fees on me if i want to move money between them with skrill. USD=>AUD>Euro for a 5D to Uwin transfer.

They used to let anyone have multiple wallets... changing that is an obvious attempt to add a huge fee via a process change.

I'm not the paranoid type but i seriously suspect they have some sort of deal with their bank to allow their customers to be raped on these intermediary fees on purpose too.

What other majopr company do you deal with that uses such a primitive banking network it needs multiple intermediaries to get to Australia or Singapore?

Or wouldn't change their bank to prevent the problem for customers after so long of so many complaints?

[timbaland99]

I recently signed up for i debit and insta debit. They charge next to nothing for transactions both ways. I haven't used them much but how come people don't take advantage of these services? Does it makes a Difference that I'm canadian and most on here are residents of the USA and the fact that the money goes from your bank when depositing and back to your bank when withdrawing?