My ‘Internet friends’ are located in some far off places and tiny towns which do not appear on any tourist map! Their little known banks, different currencies and jurisdictional regulations often make it often impossible to quickly send or receive local funds. Consequently, we use digital money.
PayPal is sometimes used but not often. Due to the different rules in each jurisdiction most of my friends don’t use PayPal. So what are the most popular ways to ‘move money’ between friends? Keep in mind that all of these accounts can be used just moments after set.
For receiving money, small amounts under 1k, Moneybookers is excellent. They offer multiple currencies, fast and easy account set up and most important, the account is working just moments after set up allowing their standard lower limits for receiving funds. We just opened a test account to view the current opening limits and in USD that was over $1300.
Increasing the limits on a brand new Moneybookers account is all about options.
We also like receiving Moneybookers because so many other webs accept their ‘money’. If you need to shop online for just about anything, chances are you can buy it with Moneybookers.
Unlike PayPal, you can get a Moneybookers account active and receiving without sending any ID or using a credit card for verification. Finally, one other big bonus is the ability to verify your address and thus raise your limit by having them send you a snail mail letter. No credit card required, this is a big plus for some users. Moneybookers is an instant working account and handy for lots of things including shopping, sending money to friends or simply having a working online account.
1MDC is hands down the simplest of all digital gold currencies. All of my friends love it. Daily use of 1MDC is very inexpensive, flexible and convenient. It takes about 20 seconds to get a new account and they don’t ask for any important items like address or DOB. An ID copy or credit card is never required (or even mentioned). 1MDC is instantly convertible into either e-gold or Pecunix directly from within the 1MDC client area. With a 1MDC account, I can send and receive funds without any limits and exchange directly into e-gold or Pecunix anytime, without any limits. The fees for usage are some of the lowest of any Digital Gold Currency. Finally, just about all digital currency agents will buy or sell 1MDC without any problem.
e-gold is also on my list because everyone I know accepts it. Accounts take just a few minutes to set up, they are free and don’t require any verified information. There are dozens and dozens of third party agents which will transaction in e-gold and also a few dozen ATM debit cards which allow easy access to your fund. There are no transaction limits on a new account (I’m aware of). Finally, there are dozens of way to convert everyday money into e-gold. This currency is also widely accepted around the globe and my friends seem to like it better than other digital money.
Last but certainly not least, I use Webmoney. Their online system for funding & transferring money is - by a wide margin - the most sophisticated and one of the best on the Internet. A new account holder simply downloads the Webmoney Keeper software, takes a few minutes to set up the account and it is 100% operational and ready to receive funds. Accounts are denominated in multiple currencies including the USD and EURO which are my most popular and the fees for usage are very low.
If you ever have a question or problem they have awesome online help. The Webmoney system provides users the ability to fund a new account through a variety of methods. The most common in my crowd would be bank wire transfer, prepaid cards and now Ukash (Europe & UK). Adding the Ukash option has opened up Webmoney to million of new users and my UK friends prefer this method.
Their software includes a great way to bill clients for products or services and also a very private online chat (IM) for personal or business messages. Webmoney is a very exciting business model. I was informed just a few days ago that prepaid cards make about 30% of all top-up volume in Russia and the surrounding states. That is amazing.
Reloading your digital currency account using a prepaid card is a big hit now in Europe, but who will bring it to the US on a national level?
When sending money online to your ‘friends’ or associates, what is the most common method you use?
