Bypassing Moneybookers Withdrawal Limits

As you’ve likely seen in previous articles or learned from your experience with stock photo agencies, the primary method for withdrawing earnings from top microstock contributor sites in the CIS and other developing countries has always been – and still is – Moneybookers (now Skrill).

The fastest and most convenient way to withdraw money from a Moneybookers account is directly to a Visa payment card of at least the Classic level (it can be Electronic, depending on the specific bank).

However, reaching the required withdrawal limit isn’t something you can do in a single attempt. Hitting the limit on Moneybookers wallet (now Skrill wallet) often feels like a game of ‘Whack-a-Mole’. Requesting a payout to a bank account can be inconvenient for two reasons: first, it may take anywhere from a week to a month for the funds to be credited; second, the transfer fee can range from $20 to $30.

Additionally, your bank might charge a fee of about 1% of the amount for crediting funds to your account. Therefore, for smaller amounts, like around $100, withdrawing to a bank account can become quite costly.

In my experience, the key factor is how convenient it is to receive funds. Since, if funds from Moneybookers are transferred to a bank account, you must first confirm with the bank whether the funds have arrived, and then you still need to go there to withdraw them – the process is quite tedious. Therefore, using a payment card for receiving payments has always been a priority.

Given these circumstances, finding convenient methods for withdrawing money from Moneybookers remains pertinent for microstockers. Now, let’s look at some possible solutions.

One of the first solutions that comes to mind—and one that’s been tried for years – is linking a payment card to a bank account. This is likely the easiest and most appropriate method, as for Moneybookers, this will be a withdrawal to a bank account, and for you, effectively, a withdrawal to a payment card.

What do you need for this? You need to ask your bank which account number corresponds to your payment card (and don’t forget to ask for the bank’s SWIFT code). After that, you will need to enter the obtained account number on Moneybookers.

Moneybookers will require verification by sending $15-20 to your account. After you request the payout and the funds are credited, contact your bank to obtain the code specified in the transfer’s purpose. Then, enter the received code into the verification field on Moneybookers.

Now, your card account is verified with Moneybookers, and you can initiate withdrawals from it.

Since the linked account is essentially a card account, after requesting a payout from Moneybookers, you will only need to insert the card into an ATM to check the balance.

Now, it can be any card from any payment system that your bank offers. Ensure that if you’re transferring to a payroll card or any other card you already have, the card’s currency matches the currency of the transferred amount.

Alternatively, confirm with your bank that the card supports multi-currency transactions or that the bank performs automatic conversion for credited amounts. Additionally, be aware of specific nuances in your bank’s card management policies. Some banks manage card accounts in separate automated systems, and the account number provided may not permit a credit transfer from Moneybookers.

Internet and mobile banking services are very convenient. You can receive all information about credits to your accounts via your mobile phone or through your bank’s website. With this service, you can check if funds have been credited to your card and the credited amount without leaving your computer.

Alternative withdrawal method to withdraw money without encountering limits is available.

If you have a Payoneer payment card, which can be obtained through stock photo agencies like Dreamstime or iStockphoto for receiving payouts. With this card, you can open a Virtual US Account on Payoneer.

Payoneer often sends emails offering to open such an account. If you haven’t received such an email, you can contact Payoneer customer support to open an account.

After opening a Virtual US Account on Payoneer, add this account to your Moneybookers account to withdraw funds to it in the future. By initiating this withdrawal, the funds from your account will be transferred to your Payoneer card.

This method lets you completely bypass the need for local banks in your Moneybookers withdrawal process. Additional expenses for this withdrawal method will be approximately $20 per year for maintaining the Payoneer account.

These are some alternative Skrill withdrawal methods. While there may be better options out there, this topic will not be further disclosed.

This is evident because the more individuals exploit various loopholes, the more swiftly such loopholes will be closed.