WebMoney (WM Transfer)
One of the most popular electronic and online payment systems available today is WebMoney. This payment system is owned by WM Transfer Limited and was founded in 1998. WebMoney is a legal corporate entity of Belize, Central America. This payment method was initially designed to be used by Russian clients however, WebMoney is now used all over the world and there are more than 11 million WebMoney users worldwide.
WebMoney is an online payment solution which combines comprehensive accounting tools with secure messaging and communication features between registered users. There are two options available in this payment method software WB Keeper Classic which is an application that must be downloaded and installed on your computer and WM Keeper Light which is a browser-based app that requires no download to use. WebMoney also can be used on mobile devices such as a cellphones or tablets which are Java-enabled, making it even more convenient and flexible.
Funding your WebMoney Purse
Every WebMoney account or "purse" can facilitate instantaneous cash transfers in real time and can be topped up via several methods: cash deposit, transfers from a banking institution, e-currency exchange, pre-paid WebMoney card or CashU pre-paid card. It should be noted that the options available to a user are dependent upon the currency one chooses to use.
How to Set up a WebMoney Account
Registering for a WebMoney account is a bit involved as there are several steps one must take. However, considering the wide range of services offered the registration process is definitely a worthwhile process to undergo.
The first step involves visiting the official WebMoney website and clicking on the sign-up tab. You will then be asked to enter your personal info and to set up your funding preference for your account. Your personal details must go through a verification process this is done through email and a text message which is sent to your mobile phone. Once verified and approved you are allowed to set up your e-currency purse and choose which passport you wish to use. You then have to agree to the WebMoney terms and conditions wherein you will obtain a WebMoney identification or WMID. This identification number will become your account number.
Who Can Use WebMoney
Residents from Russian, Ukraine, CIS countries, the United States, Europe and UAE are eligible for a WebMoney account. However, not all services are available to residents from every country. For example, United States users cannot use their WebMoney accounts for gambling as it is illegal for Americans to gamble online.
Funding your WebMoney Account
When you set up your WebMoney account, you were asked which method you wish to use to fund your purse. Those options are cash deposit, bank transfer, pre-paid WebMoney card, CashU pre-paid card or e-currency exchange. Simply click on your funding method of choice, follow the straight-forward directions and prompts and then authorize the transfer. The money will be transferred immediately, allowing you to shop or spend it online as you wish.
As stated earlier, transactions are done using WMTransfer software and fall in to one of three categories. WebMoney Keeper Classic is the downloadable app. WebMoney Keeper Light is a secure app that does not require any download and Telepat is a technology which allows you to control your transactions and account using any mobile device which supports Java.
How to Withdraw Funds from your WebMoney Account
WebMoney provides you with several options for withdrawing funds including cash-out points and exchange agencies, bank wire, direct bank transfer, CONTACT system or your WebMoney card. WebMoney charges a 0.8% surcharge on withdraws with a maximum of $50 charged for each account that uses US dollars. Fees charged for other currencies vary and are dependent upon which currency you use.
Is WebMoney Safe to Use?
WebMoney is a very safe payment method to use and in fact, it is safer than many online payment methods. This is because your personal information is not stored in the WebMoney system like it is with other e-payment systems which are vulnerable to phishing schemes. WebMoney keeps online merchants protected from several fraudulent behaviors because the transactions are final. Plus, WebMoney utilizes an instant messaging system as a method of extending credit and sending bills. And, you are able to protect your payments using your own private password that only you know.
Advantages to Using WebMoney
There are many benefits associated with using WebMoney. First of all, being allowed to deposit and transfer money in a safe manner over the internet is very convenient. Another advantage to using WebMoney is the fact that your private financial information is not shared with merchants. This is very advantageous and especially to those who do not wish to use their credit cards online. Additionally, web money transfers occur in real time which equates to being able to have real-time, instant access to your funds.
Another advantage to using WebMoney is the fact that you can both deposit and withdraw your funds at online merchant sites and at sites which allow gambling. Some electronic payment methods out there only allow you to make deposits which leave you with concerns and problems when trying to withdraw funds.
Once you have set up your WebMoney account, it is quite easy to manage and use. One of the most attractive features of this payment method is the fact that you are not required to share your personal banking details or credit card information which protects you from fraud and scams. Plus, no one can use your WebMoney account without your authorization unless he or she knows your password. Thus, WebMoney is very safe to use and a very convenient way to send and receive money over the internet. This is a very reputable online payment method that millions of people around the globe use daily to securely send and receive payments. There is a great deal of helpful information available on the official WebMoney site if you should have any questions or need assistance.