- Everyone can send money around the world for just a fraction of the usual costs: Ultra-low fees and extremely favourable currency exchange rates
- Solution suitable for the majority of cross-border transfers – the multicultural society living and working abroad can save hundreds of millions of pounds every year simply by using Moneybookers
London July 31, 2007 – Moneybookers, one of the world’s leading online payment providers, continues its tremendous growth in the international person–to-person money transfer market. With a rapidly increasing number of customers using the recently improved Send-Money interface to transfer money globally, this market emerges as a highly successful business segment besides the merchant services sector.
The main reason for the success is the enormous savings potential of the ultra-convenient, instant and secure service. Even for transferring 3-digit amounts abroad, banks and or specialised money transfer companies often charge up to £40 (or even more), whereas Moneybookers holds a maximum fee of only EUR 0.50 irrespective of volume and destination. For smaller transactions, the cost can be even lower, because Moneybookers charges only 1% of the transaction volume – capped at just 50 Euro cents. All transactions are instant and payments are ready for settlement immediately. The recipient can either spend the money online at more than 5,000 online shopping destinations or withdraw it to his bank account or VISA card for EUR 1.80. Thus the total fee of international money transfers including the withdrawal is just EUR 2.30 at most.
The currency exchange rate is also highly competitive, because just 0.95% will be added to the interbank rate wherever there is an exchange of currency between EUR, USD or GBP. For transactions involving exchange of any other currency, only 1.3% will be added. Even well-known banks and money transfer companies often charge more than 2% (even 4% to 10% are possible), which amounts to enormous hidden costs especially when higher amounts are transferred.
Dr. Nikolai Riesenkampff, Moneybookers’ CEO, comments: “With the incredibly low charges for our person-to-person transactions we are two steps ahead, as our customers enjoy today what is supposed to become an EU standard in a couple of years. The majority of the international money transfers are done between the more than 35 countries where we have a local banking network, and if everyone in those countries would use our solution, hundreds of millions of money transfer and currency exchange fees could be saved by the people living and working abroad.”