• Report: #895031

Complaint Review: MoneyBookers

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  • Submitted: Sat, June 09, 2012
  • Updated: Mon, June 18, 2012

  • Reported By: DonC — Other United States of America
MoneyBookers
Internet United Kingdom

MoneyBookers Skrill use extortion to force merchants to sign their contract and rates tables. London, United Kingdom Internet

*Author of original report: Contact Us - Been there done that

*Consumer Comment: Toyota of Grapevine "I jim"

*UPDATE Employee: Please contact us back

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What they don't tell you when you sign up is that as soon as you hit around 2500 euro in transactions they will lock your account so you can't withdraw any funds you have received in the last 30 days (30 day reserve) but they only give you 5 days notice of this lockdown so they basically guarantee that you will get money trapped in the account. 

They then send a demand for a huge amount of company info to "verify your identity" and will not release the funds untill they have what they want.  These include company registration details, turnover, share holding and copies of identity documents such as passports etc.  This is apparently to comply with the money laundering laws which I totally agree with and would happily comply with normally however they also sneak in two extra documents that have nothing to do with those laws but that you still must sign if you ever want to see your money again.

These two extra documents are a new contract and a new rates table that changes your 30 day 100% reserve to a 180 day 5% reserve. meaning that now they can cold 5% of your turnover for 6 months.

I can understand identity documents needed to comply with the money laundering laws but when you are forced to also sign changes to contract terms and rates tables or you will not ever get you money back then that is nothing short of extortion in any jurisdiction anywhere in the world.

If you try to email them and sort it out you either just get a repeat of the demands or no reply at all.

If you cancel your account they still will not give your money back untill you provide all the documents they want and when you do provide them all they then impose the changed terms you were forced to sign and hold you money for 180 days instead of the 30 you originally signed up for.

How can a big company like this get away with such unethical practices and how can they use extortion to force merchants to sign changes to contract terms with apparent impunity.

This report was posted on Ripoff Report on 06/09/2012 12:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/MoneyBookers/internet/MoneyBookers-Skrill-use-extortion-to-force-merchants-to-sign-their-contract-and-rates-tabl-895031. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Contact Us - Been there done that

AUTHOR: DonC - (United States of America)

Thanks MoneyBookers for inviting me to contact you regarding this issue.

Already been there and done that and they were no use at all so am I to believe that will now suddenly change?

Complained to support and got ignored.

Laid an official complaint through their complaints system and that was not a lot better.

Got a standard reply saying they sent me notifications of change in terms (along with their demands) on xyz dates and as I had not replied I must have agreed to those terms changes. 

Yes I got your note talking about verification, strangely no mention of blocking access to my funds in the account.

Strange that the issue of being forced to sign a changed rates table with the extended 180 day hold period and then having them hold me to that despite the fact that I had cancelled the account prior to being forced to sign the documents was ignored.

All they said on that was that chargebacks could happen up to 6 months later hence 180 days yet they were fine with 30 days before that???

They said they had not changed their fees ... the $ may not have changed but I would have thought going from 30 day witholding to 180 days witholding is just a tiny change

They then said they would "escalated to the Head of our assessment team"

Surprise, surprise, nothing heard from them since.

Saying "contact us" is not going to fix your credibility if doing so changes nothing.

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#2 Consumer Comment

Toyota of Grapevine "I jim"

AUTHOR: tjs2430 - (United States of America)

Yeah they are there to make money but there are also guidelines and good old fashion honesty. I do my income was not good enough for them so they lie to make a sale. My car never had electric problems and I want what I gave them back since they got there car back the way they gave me.
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#3 UPDATE Employee

Please contact us back

AUTHOR: Skrill Merchant Services - (United States of America)

Dear DonC,

We were sincerely surprised to read you had such an experience with your Skrill (Moneybookers) account and would like nothing further than to rectify this for you.

Please contact us at us-merchantservices@moneybookers.com and/or us-ecommerce@moneybookers.com so we can review your case and be of assistance to you.

Kind regards,
The Skrill (Moneybookers) eCommerce Team
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