Perfect Money is an e-payment system that is very similar to Liberty Reserve and Pecunix in terms of operations but offers a little bit more to customers. Founded in 2007, it is a registered company in Panama but with headquarters in Zurich, Switzerland. With Perfect Money payment system, a user could choose any of the available multicurrency accounts (i.e., dollars, euro, and gold). Depositing money is very easy. Account holders can easily use e-Vouchers or any of the other approved methods to deposit money to their PM accounts. Perfect Money is a good payment system but it is relatively new and not very popular. Frankly, some people are having problem deciding whether to trust this "shiny new thing" or not.
How useful is a Perfect Money account?
A Perfect Money account makes e-payment transactions very easy. It allows one to make online payments to other digital currency systems and vice versa. On the user account profile, your Perfect Money account could be configured to make automatic payments to any of the participating Internet businesses. The minimum amount allowed in an account is $1000 and the interest is up to 4 percent per month. Transferring funds to and from an account are often done through currency exchangers, bank transfers, other payment systems and e-Vouchers. One thing that makes Perfect Money stands out from the rest is the ability of users to buy gold, euro, and dollars in real time.
What are the available types of PM accounts?
There is the U account, which is a U.S. dollar account; and an E account that is an equivalent Euro account; and the third one is the Gold equivalent account or G account. No matter your account type, you can exchange money right on your user account at the current international market rate.
How do I receive or deposit money to my Perfect Money account?
There are about eight ways to receive or send a money to your Perfect Money account: instant bank transfer, bank wire, certified exchange partners, cash terminals, Chinese debit cards, instant SMS deposit, e-currency, and perfect money prepaid card / e-voucher.
How do I make redrawals from Perfect Money account?
To redraw money from your Perfect Money account, you can do so via bank wire, e-currency, certified exchange partners, prepaid visa/master card gift cards, and perfect money prepaid card/e-voucher. A PM user can use the e-voucher to pay for goods and services too.
Is Perfect Money secure?
Unlike Liberty Reserve, Perfect Money accounts are lesser phishing targets because they are less popular. Perfect Money Incorporation has erected security barriers that help stop rogues from making illegal redrawals and transactions using a legitimate account. The company has been able to do this in three stages.
Firstly, one way the company does this is via the IP-address security system. During a Perfect Money account registration, the user IP address is logged. Therefore, should that user try to access his or her account from a different IP address then they must enter a certain PIN code.
Secondly, if configured, Perfect Money often ask for SMS authentication whenever a new IP is trying to access your account. This is an excellent way to guide against hacking too.
Thirdly, since hackers usually have a way of accessing accounts, Perfect Money issues a code card which has several codes on it; so each time a transaction is triggered, the code must be filled in for the transaction to go through.
What are the types of accounts?
There are two types of accounts – personal and business accounts. A personal account is for individual users while business account is for corporate bodies. There are also sub-types: premium account and partner level account. Premium account fee for every bank transfers are as low as 2 percent; and annual interest hovers around 8 percent.
Can I create subaccounts?
Unlike PayPal or other payment systems, Perfect Money allows for up to six additional accounts. Subaccounts are mainly for sending and receiving emails and they do not accrue a fee. Subaccount users can create their own e-Vouchers too.
What are the incentives to join?
Perfect Money is a good payment system. The company is not only trying to be the foremost payment system by rendering good services alone but also adding some incentives, too, to attract more users. One way it is doing that is offering bonuses to partners and giving out discounts on every transaction. Also, webmasters with Perfect Money’s logo on their websites stand the chance of enjoying fees holidays. Rewards are offered to customers who participate in their referral system, and those who make large number of transactions on their Perfect Money account over a given period.
A user could get money deposited via e-currency transfer. Payments via electronic systems are instant. A user could also fund his account by topping it off with an e-Voucher or a prepaid Card, available online. Another way is through the Chinese debit cards issued by Chinese commercial banks. You can also get an account credited by certified exchange partners. The two most important and popular ways of sending money to a Perfect Money account are via the Instant Bank Transfer and Bank Wire.
Perfect Money is in the same class with Liberty Reserve. As a payment system, it makes it possible for people to send and receive money securely and in real time. Many dot-com businesses have found it very useful over the short time it has been in operation. Buying and selling precious metal such as gold and major currencies such as U.S. dollar and euro are very easy things to do with Perfect Money account.
There are things about Perfect Money that many people hate. For example, it is not possible to stop a transaction. The minute you send a transaction, you are on your own. The only thing you can do is contact customer care. And because it could take some time before they get back to you, you may never get your money back.