Signing up to Moneybookers for the first time?

If you don't already have an account, there is a verification process that you need to go through, but its very similar to the process you have to go through when signing up with other similar services, such as Paypal, for the first time. It may be a bit inconvenient, but the good side is that it makes the whole idea of online money transfers more secure, and it means that a much larger percentage of what you pay goes straight to the artist, instead of to the bank!

Here's how it works...

Once you've entered your address, email etc to open your new Moneybookers account, they will send you a verification code by email. Once you've entered that, you'll be asked what payment option you want to use. You don't have to use a wire transfer. Wire transfers are expensive and completely unneccessary for small purchases such as an MP3. You simply select the other option ("Deposit money via our site first"). There are then 3 methods of payment available. Cheque, Bank Transfer and Credit/Debit card. Bank transfers can be done instantly if you have online, or phone access to your bank account. The Moneybookers account details will be displayed on the payment page if you want to go this route.

If you prefer to use a credit or debit card to fund your account and buy future goods, Moneybookers will need to verify that your bank and credit card belong to you. This is only necessary for your first transaction and involves them using your credit card to send an undisclosed sum to your bank account. They will charge your card for a random verification fee between GBP 1.01 - 2.99. You must then check your card statement for the exact transaction amount and enter it into the 'verify credit/debit card' section of your Moneybookers profile. Upon completion, the verification fee will be refunded to your Moneybookers account and your card will be verified with an upload limit of 341.42 GBP in any 60 day period.