Is Moneybookers.com Safe?

I want to begin purchasing products from a company that only accepts Western Union and Moneybookers.com payments. They do not / cannot / will not accept PayPal payments.

I will not use Western Union...that's like giving money away with no guarantee that I will ever receive the products.

I am curious about Moneybookers.com and would consider it if I thought it was safe. Does anyone know about this company/service?

Thanks so much for your time.

Public Comments

1. Yes you just need to research it for yourself "Regulated by the Financial Services Authority (FSA)."

2. Yup! It save!

Moneybookers is an e-commerce business that allows payments and money transfers to be made through the Internet. It serves as an electronic alternative to traditional paper methods such as checks and money orders. Moneybookers performs payment processing for websites, online auction sites, and other corporate users, for which it charges a fee. Moneybookers is a wholly owned subsidiary of Gatcombe Park Ventures Limited and their corporate headquarters are in London, UK.

Moneybookers account holders must be 18 or over with a debit/credit card or bank account and an e-mail address. Unlike many competing online fund transfer services, Moneybookers requires identity verification before using their service to minimize fraud and prevent money laundering. Additional verification steps raise the maximum amount transferable to €20,000 or equivalent within a 90-day period. Moneybookers does not usually get involved in merchandise disputes and the availability of credit card chargebacks may be limited.