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Money Transfer Services

Precise Conversions now introduces Money Transfer Services between Paypal and MoneyBookers. We have been getting requests from our users for this service since couple of years, so finally we have managed to introduce the service. Using this service our users can transfer money in following two ways:

1. From MoneyBookers to Paypal
2. From Paypal to MoneyBookers

Money Exchange

Transfer Charges

$15 OR 15% (whichever is higher, will be deducted as transfer fee)

Transfer Time

Money Transfer Can take maximum of 48 hours depending on the Work Load.

Transfer Limit

$100 (For First 5 Requests)
$500 (Afterwards)
* A user Can only open one transfer request at one time

Four Easy Steps To Transfer Money

1. Fill in Transfer Money Request here.
2. If Your Request is validated by the System, You will receive acknowledgement.
3. Transfer your Money to PreciseConversions Account on Paypal or MoneyBookers using our Email ID "admin@preciseConversions.com"
4. Your Money will be transfered to requested Money Bookers or Paypal Account in 48 hours and you will receive the update on given email address.
5. You are done.

Some BackGround on Paypal and MoneyBookers

E-Commerce is growing to be the new-age way of business and this has increased the need of secure transactions. Now days, E-commerce is spread all over the world, Small as well as big companies are now using E-commerce for buying and selling of products and services via electronic systems. When we talk about the buying and selling, money comes in the picture and with the money there will be the question of security. For secure transactions there are various types of techniques are available in the market. Some of them are PayPal and Moneybookers. PayPal is one of the biggest names in online business. It serves as an electronic alternative to traditional paper methods such as checks and money orders. It also aims to offer users an easy and secure way to make and receive payments online, and is now a subsidiary of eBay, another giant in the online business. This simple idea of being able to handle financial matters securely over the internet is also a very powerful and innovative one, and has helped to make PayPal what it is today. Moneybookers is a tool that allows you to safely send and receive money via email - instantly. With this service you can send money from your credit/debit card, transfer money to and from your bank account. Use Moneybookers to send money to someone (settle a debt with a friend, pay for online purchase/auctions...) or when someone needs to send money to you. Moneybookers performs payment processing for websites, online auction sites, and other corporate users. Moneybookers – A Better Alternative to PayPal For India/Pakistan Let me touch upon some of the issues we come across when using PayPal. PayPal Issues 1. Forex Losses You cannot use your PayPal balance to buy anything online but need to be using your credit card for all payments. This is perfectly fine but then forex rates of PayPal make it virtually impossible to use PayPal. Say I have $100 in PayPal and I want to make a payment of $100 for some purchase. I will be withdrawing my $100 in my PayPal at a USD to INR conversion of 43* and making the payment at 46*. * Rates are approximate rate. 2. Large payment problems You cannot accept payment above $500 which means PayPal can only be used for micro payments but not for large payments though you can split the large payments into small parts like a payment of $800 can be split into two parts of $400 each but you cannot accept $800 in one go. 3. No clear Policy updates You have to withdraw your PayPal funds in 7 days and so at times you may need to pay additional (though very nominal) PayPal withdrawal fees but there are lot of confusion as to what happens if one does not withdraw it. For example PayPal allows you to withdraw a minimum of $10 but what if one has less than $10 lying in the account for more than 7 days. You have to get into such a position and see how PayPal will behave because no one including support knows what will happen. So having so many issues I have decided to move to other PayPal alternatives and so I am using couple of them. PayPal Alternatives Moneybookers Moneybookers provides more benefits than PayPal and so let me share the benefits of Moneybookers here. 1. Very low fees – Receiving money is free and sending money costs only 1% up to 0.50 EUR which is almost 80% lower than what PayPal fees is. 2. Support Local Currency Balance – In PayPal you cannot have an Indian Rupees balance but in Moneybookers your account balance is in your own local currency. 3. Withdrawal Fees – Though PayPal withdrawal fees is NIL unless you are withdrawing very less amount, Moneybookers’ charges 1.80 EUR for Visa and bank transfer and 3.50 EUR for Check per withdrawal. Unless you have large payments, you can be paying lot of withdrawal fees in Moneybookers and so I am using Moneybookers for payments which cannot be accepted in PayPal i. e. payments above $500. So withdrawal fees don’t hurt me lot because I am saving $10+ in transaction fees of receiving money in PayPal anyway. A point to note here is – PayPal in India transfer money to your local bank account using NEFT and so you don’t pay the forex fees to the bank but to PayPal. Moneybookers wire transfer’s the money to your bank account and so Forex rate is what your bank offers to you. 4. Escrow – Buying through PayPal can be dangerous but Moneybookers’ provide Safe escrow option instead. 5. Better Support – PayPal has horrible Support where you seem to be interacting with some person but replies are always automated.