Today, the market of electronic payment systems has reached extraordinary heights of development. The volume of funds transmitted via the Internet is simply amazing: we are talking about billions of dollars. Who would have thought that in the modern world it would be possible to pay so easily without leaving home?
Despite the fact that some electronic payment systems continue to emerge in the industry, there are several “titans” who have an incredibly huge customer base and are essentially monopolists of the market, because they have unbreakable (as it may seem) support for most network users. One of these “giants” of e-commerce will be addressed in today's review. This is a Webmoney payment system. Reviews about this site, instructions on how to create your account, and instructions on depositing and withdrawing funds from the system will be presented in this article. So, if you did not have experience with this system, you will probably be interested in this note.
About system
To begin with, we outline the system in general terms. According to official information, the company in question arose in 1998. Then Webmoney money was not as popular as it is today. There is no detailed information on exactly how it all began and who ultimately stands behind this entire organization. We only know the name Webmoney Transfer ltd - this is the legal entity managing the payment system.
Of course, the popularity of such a means of payment grew gradually, increasing due to new users. In 2015, according to official statistics, more than 30 million accounts were registered in the system. Most of their owners conducted several transactions, which led to a total turnover of $ 17 billion. The numbers are truly astounding given that this is a private organization whose history remains in the background.
Throughout the history of its existence, the system has experienced various threats and attacks by official government bodies and special services. The reason for this is obvious - through Webmoney there is a huge flow of uncontrolled funds that are not taxed and at the same time can go to finance various crimes, terrorism and so on. The last such “run over” was experienced by the bank of the payment system conducting transactions - “Conservative Commercial Bank”. In March 2016, checks began here. Similar "actions" from the state for "WebMoney" are not something new.
Benefits
Anyway, the user reviews describing the Webmoney system mention a lot of its positive qualities. Indeed, if the system did not suit users with something, they would simply refuse to use it, giving preference to another EPS. However, as we see, this organization continues to be the market leader, despite the fact that other “giants” like Yandex.Money have been present for a long time. Another serious competitor Webmoney - Qiwi. However, both of the mentioned alternative systems have some niche of their own, due to which they win customers.
WebMoney has its own category of users. And they know that the main advantages of EPS are speed (transfers are carried out instantly), security (there are a lot of tools to avoid losing money), the ability to easily pay with any counterparty, and a lot of support services (exchange exchange, credit exchange and so on) . All this removes any barriers between users, opening them the whole foreign exchange market online.
Popularity
Another plus is that, as reviews describing Webmoney show, the system has incredibly high popularity. Therefore, a lot of people are ready to pay using WebMoney. If you want to buy goods, the seller may not accept Yandex.Money or Qiwi, but all stores, services and services that operate online work with WebMoney. This simplifies the calculations within the system.
The same goes for depositing or withdrawing funds. We will talk about this in more detail in the following sections, but for now, we note that each participant can easily draw Webmoney to any direction convenient for him, including cash. Now on the Internet there are many services that conduct such operations.
Versatility
Another important point is multicurrency. The payment system has 10 types of wallets, each of which is the equivalent of a currency or debt. For example, WMZ is the equivalent of dollars, WMR is rubles, WMX is bitcoins, and so on. Due to this, there is a certain universality in the calculations. A resident of Kazakhstan can easily accept rubles, so that later they can quickly exchange them for their national currency. And there are no problems with the exchange within the payment system. Users can easily convert one of the currencies to another, making their own choices.
registration
Work in the system, as you might guess, begins only after creating an account. This is done quite simply, although over time, the rules by which you can create a Webmoney wallet have become somewhat tougher. Several years ago, it was possible to create several accounts in the system without any problems, without making any confirmations and documents. Today, everything is completely different.
The ability to own different accounts was preserved, and you can use the services of the service almost immediately. However, the system of different certificates (we will also talk about them a little later) is created in such a way that creating a Webmoney wallet is not enough for full-fledged work. You must send a scanned version of the passport in order to confirm your identity. There is nothing terrible in this, just another formality. Do not worry that someone will know your personal data.
After registration (and this procedure is a commonplace filling out different fields with information about yourself, nothing new), you get the number of Webmoney-identifier (WMID). This is your account, within which you can create any number of different wallets in a particular currency. It is important to note that the number of each of them is unique and is used to receive funds.
Wallet management
For the convenience of the user, the system provides different modes of money management. There are three of them: Mini, Classic and Light. Each has certain features.
“Mini” is the easiest way to manage your money, because it consists in working with the browser. A “personal account” is created for the user on the mini.webmoney.ru website, where all settings, statements, money transfer and reception tools, etc. are available to him.
Classic (Keeper WinPro) is a work with a payment system through a program that is installed on a user's PC. Here, the owner of the Webmoney identifier uses higher security standards (after all, protection of his data is carried out using keys - files stored in encrypted form on the user's computer).
Light is a cross between the two options above, since it assumes the same functionality that WinPro has, but without the need to install software on your computer.
The participant can independently choose a platform and, if necessary, switch from one version to another.
Certification
There are different “degrees” of Webmoney accounts. Registration, for example, makes it possible to obtain a record of the very first level - a certificate of an alias. With it, you can make small calculations and, in principle, get acquainted with the system. The next in the hierarchy is a formal certificate needed for more active participants. To obtain it, you must, as mentioned above, download copies of documents. It paves the way for the financial services of the system.
In Webmoney, registration of the next (in importance) status is carried out for a fee and after a direct visit to the certification center live. Such a center may operate in your city, or it may be a private person-personalizer.
Higher certificate - personal. It is needed to accept larger payments than in the case of formal payments and can serve as the basis for greater confidence in the person.
There are more serious certificates for online business, but they are issued to owners of large Internet services, some financial institutions and more serious users involved in Internet commerce.
Limitations
As in any other financial service, the WebMoney payment system has certain limits that allow you to control user activity and conduct some kind of regulatory policy within the service. These restrictions are primarily associated with the confirmation of account information, with the amount of information that the user provides about himself.
For example, if a mobile phone was not tied to the record, the withdrawal of Webmoney (for owners of the alias and formal certificate) is limited to 5 thousand rubles per day. If the account holder associates a phone number, this limit will increase to 15 thousand. The same rule applies to other currencies (in the corresponding equivalent, with the exception of Belarusian rubles).
A user who has a formal certificate has the right to make transactions for up to 15 thousand rubles without confirming the number, while indicating the phone removes the limit and sets it at 300 thousand.
Those who work with a personal certificate, without confirmation, also have a limit of 15 thousand, and with this, the limit is set to the level of 3 million rubles per transaction.
Tariffs
As you know, each EPS takes a commission from each user for conducting transactions. The same applies, for example, to banking institutions. In this sense, the commission of Webmoney is no exception. The user is deducted the amount of 0.8% of each transaction.
Thus, the commission cannot be less than 1 cent, and more than $ 50 (equivalent to other currencies). If you conduct a transfer operation between two wallets of the same type within your identifier, the commission is completely absent. And, in the same way, if money is transferred from one wallet as part of a single certificate to another (and the type of certificate is not lower than formal), then there are no additional charges for service.
Replenishment
We have already talked a lot about how the payment system works, how to use it, where to start and what you need to pay attention to. One question remained unresolved. How are funds credited? If, for example, you open your account, all your wallets are initially empty. How to replenish Webmoney so that the money arrives at the wallet you need? What needs to be done to enter funds into the system?
I must say that there are several ways to replenish, for each currency they differ from each other. For example, a euro-wallet can be replenished through NETTO terminals in Moldova, TelCell - in Armenia and using a WME-card. Rubles will be credited to the account if you transfer them, respectively, from Russian terminals or a WMR card. The same goes for any other currency. One of the most common ways to deposit funds is through payment terminals in the country where a particular currency is in circulation.
In addition, for all types of wallets in the system, a bank transfer to Webmoney is relevant. In order to use it, you must correctly specify the details (you can find them on the company’s website), after which the funds will be credited to your wallet within a couple of banking days.
Terminals and banks are suitable for those who want to deposit money in cash and receive electronically.
For those who have another electronic currency, there are exchangers. There are a lot of them, so we recommend using monitoring services, which will show where the most profitable rate is and how to replenish Webmoney for the best of them.
Conclusion
The logic applied in the case of replenishment also applies to the conclusion. You can get funds from WM wallet to an account in another electronic payment system, you can withdraw them to a card, receive cash or, say, transfer some service (top up your phone, Internet) to pay.
Reviews
Given the simply huge popularity of this service, it is not surprising that there are a lot of feedback on the activities of Webmoney on the network. Reviews (at least most of them) are written in a clearly positive light for the system itself. People praise how WebMoney works, are satisfied with the service, are glad to have such a convenient payment tool at hand. There is nothing new in this: in fact, reviews only confirm the high popularity of this tool of e-commerce.
From negative reviews we learn about some inconvenience associated with the requirements to increase the certificate, indicate your personal data or with a limit on operations. This is normal: people are unhappy that they are forced to switch to another certificate, that the system does not allow you to spend the right amount of money through wallets. Advice to such users: you need to find out information in advance about how EPS is arranged and what basic rules apply here. After all, it is clear that Webmoney has its own certain policy, which they adhere to.
conclusions
In general, there is no reason to blame on how the system functions. WebMoney has repeatedly saved a huge number of people, allowing them to make a quick exchange back in those days when commerce did not seem as open and accessible as it is today. Therefore, for this, the creators of the service should be thanked separately.
Let’s hope that all restrictions associated with ongoing checks in the system will be eliminated, and the control bodies will be left behind from the organization and allowed to work normally in order to provide us, ordinary users, with the highest possible service.