Online Payment Services – What are the best ways to deposit and withdraw money?
Anyone who invests in online trading, like Binary Options market and / or Forex, or simply transfers money online, should use an online payment services account. There are several companies that offer this service.
Specifically for the binary options brokers or Forex, the companies that offer the best conditions in terms of safety and quality of service are Neteller, AdvCash, and Skrill.
There are 8 advantages in using Online Payment Services:
- Speedy deposits and withdrawals.
- Easily transfer money anywhere in the world, and make payments in shops and withdrawals at automatic teller machines.
- Access to a MasterCard prepaid card.
- Lower commissions and lower rates than those on traditional bank accounts and credit cards.
- Ability to move the money to another online payment service account that you may have. You can transfer from one to the other if you need to.
- The currency is automatically converted to the currency that the merchant uses, you may pay a small fee.
- The credit card is prepaid, so there is no problem with fraud like in normal credit cards because only the card balance can be spent. Additionally, the online security systems behind the companies are very difficult to break.
- You can transfer to your bank account at any bank anywhere in the world.
See the table below that compares both online payment services – Neteller and Skrill / Moneybookers.
|Company||Regulating Entity||Deposits||Withdrawals||Open Account|
|Neteller||FCA – UK||Bank Transfer, Bank Deposit, Credit Card, MB, Other Merchants||Net+ Card, Bank Transfer, Cheque, Other Merchants||Open Free Account|
|Skrill||FCA – UK||Bank Transfer, Bank Deposit, Credit Card, MB, Other Merchants||Net+ Card, Bank Transfer, Cheque, Other Merchants||Open Free Account|
|AdvCash||International Financial Services Commission of Belize||Bank Transfer, Bank Deposit||AdvCash Card, Bank Transfer, Credit Card, Other Merchants||Open Free Account|
Before signing up with an e-wallet, check the operating rules, security policies and account verification.
Also, pay special attention to costs and fees.
Do not forget the minimum age you must have in order to obtain an electronic wallet.
Ideally, you should always check your account with the documentation requested by each company.
Usually, an identification document and proof of address will always be required.
Also, choose a double security system to access your account and make withdraws.
I use the Google Authenticator application, which for me is the simplest to use and the most effective.