Hi all! I want to share my experience in using electronic money, help you understand what an electronic wallet is and tell you about the 12 best payment systems.
An electronic wallet (e-Wallet) is a tool for making payments, paying for goods, storing, exchanging currency and moving funds on the Internet.
This is similar to a bank account, only more convenient and simplified, and with a good security system. An e-wallet is a virtual wallet that stores real money.
In Russia, 56.6% of Internet users indicated that they use an electronic wallet. Most often, e-wallets are used to pay for mobile communications and the Internet (74%), online purchases (64%), housing and communal services (41%), purchases in retail stores (40%), as well as to top up a credit card (32%) .
The essence of electronic wallets: why is it needed?
An electronic wallet is an analogue of a traditional card issued by a bank, only on the Internet. With its help, the user can receive wages and other transfers, pay for goods on the Internet, and pay for services, including utilities. All this can be done using online banking. However, electronic wallet services allow you to use them without issuing payment cards, and in many cases anonymously.
Electronic wallets are popular among people working on the Internet - web designers, coders, copywriters.
If desired, the user can withdraw money from the wallet to a traditional payment instrument or spend funds without withdrawal, directly on the Internet.
Using wallets has its pros and cons. The advantages include:
- Simple and clear registration. Five minutes is enough, you have the Internet, e-mail and (or) telephone.
- Using wallets, you can pay for many goods. In this case, there is no need to transfer funds to the card, which means paying a commission.
- Transactions are carried out almost instantly. There can only be a delay in one case: if an intermediary is involved in the chain.
The disadvantages of electronic wallets are:
- Electronic money is much easier to spend than regular money. Psychology is at work here: a person does not value so much what cannot be touched or felt with his hands.
- You can use funds in your e-wallet only when you have access to the Internet. The exception is wallets that are linked to bank cards, for example, Qiwi or YuMoney (formerly Yandex Money).
- An unverified wallet is quite difficult to recover. If the recovery is unsuccessful, the money will naturally be lost.
- There are online stores that do not support e-wallets. You can pay with bank cards everywhere.
OKPay
Another system that has some popularity in narrow circles related to making money on HYIPs, gambling and investments. There is a fairly small fee for payment transactions. It is also possible to issue a debit card with which you can pay in stores.
Just like in Perfect Money, there is the possibility of accumulating interest on the amount that is in your account. True, unlike the above wallet, 3, not 4 percent per annum will be charged.
Types of electronic wallets
Electronic wallets differ in parameters:
- Replenishment method: terminal, via card, from a cell phone account, etc.
- By the Commission. Users of many electronic wallets can transfer money within the system for free.
- The degree of security of funds during transactions. The most reliable services seem to be those that provide their users with the ability to set up two-factor authentication. In order to confirm the transaction, the user must enter a special code that was sent to him as an SMS message on his mobile phone or as an email.
- Currency support. Some services work exclusively with the national currency of a particular country. Others are multi-currency.
- Availability of additional services: cashback, issuance of virtual and regular physical cards, exchange transactions in the system, etc.
- The degree of convenience of its interface.
- Frequency of software updates, qualified support.
Advantages and disadvantages
Advantages:
- Instant money transfers and payments for goods and services in just a couple of clicks.
- The ability to make financial transactions around the world.
- Every month the relevance of online payments increases, especially during a pandemic.
- Withdrawal of salary if you work as a freelancer.
- Quick account opening and simple wallet registration.
- Free tariff for account maintenance.
- Ready-made tools for various personal and business purposes.
- The ability to open several accounts for different currencies in one system, instant exchange within the account.
- All personal information of payment system participants is strictly confidential.
- Simple ways to replenish your balance and withdraw funds from your wallet.
- Possibility of issuing a virtual or plastic card to the account.
- Increased protection and security of funds.
- Mobile application for the circulation of finances from your phone.
Flaws:
- They only work when connected to the network and with special devices (computer, smartphone, tablet).
- Not all stores accept transfers from online wallets.
- To access the full functionality of the account without limits and increased interest, mandatory verification in the system is required.
- Possibility of fraud and hacking.
- From a psychological point of view, it is much worse to control the turnover of virtual funds than to control cash in your wallet.
How to create an electronic wallet
The registration process in most payment systems and creating an electronic wallet is no more difficult than creating your own email.
One of the simplest registrations in the YuMoney system. You need to enter your mobile phone number. It will receive a special code that must be indicated on the service website.
After this, you will be asked to come up with a fairly complex password consisting of 8 characters. This password must contain uppercase and lowercase letters and numbers.
If you wish (this is not necessary), you can connect your email address. You can use any mail as an e-mail, and not just Yandex mail, as was the case before the rebranding.
After you have indicated your email, it, along with your phone number, can be used to log into your wallet.
After registration, you need to change the status of your wallet. By default, everyone is given "anonymous status." Users have the right to open only a ruble account, which can only contain 15 thousand rubles at a time.
You cannot withdraw cash. You can top up your account only with a bank card.
Personal status expands the capabilities of its owner. You can top up your account via online banking and in cash. The maximum amount increases to 60,000 rubles; you can withdraw up to 5,000 rubles per day from ATMs. In addition, you can transfer money.
The identified wallet status gives the user the most complete options. Limits increase to 250 thousand rubles; you can withdraw up to 100 thousand rubles from ATMs at a time. You also get access to 10 different currencies. Thanks to this, the YuMoney card is convenient to use abroad. You can also make savings in foreign currency.
It is very convenient to order a physical card for only 199 rubles. To top up the card, just top up your account. You can pay with this card in the same way as with the payment instrument of your favorite bank.
Payment by electronic wallets
By replenishing your e-wallet, you can spend the money for a variety of purposes:
- pay utility bills;
- purchase any product in a domestic or foreign online store;
- top up your mobile phone account;
- purchase air tickets, train tickets, bus tickets, etc.;
- pay a fine to the traffic police;
- pay for hosting and domains and much more.
Electronic payment systems can be used to sell any goods, including digital ones. In this case, the seller and buyer may be located in different parts of the globe.
This is very convenient, and most importantly, safe - the parties do not have to provide each other with their payment bank card details.
Perfect money
At one time, this system was an excellent competitor to the Liberty Reserve payment system, until it was closed. This wallet is also actively used by people participating in hype or investment projects. Hypes also love it for its anonymity, since identity confirmation is not needed at all.
The most important thing is that the headquarters of the payment system is located in Panama and it is subject only to the laws of this country. Therefore, scammers are not afraid to use this payment system.
But the most interesting thing is that the funds in your account will automatically accrue interest, namely 4% per annum. Although this is not enough, this is practically not found on wallets.
But their interface is wildly lame. It feels like the design was taken from the early 2000s. Therefore, it’s somehow even unusual to look at this.
How to withdraw money from an electronic wallet
There are different ways to withdraw money from your e-wallet. So in YuMoney you can:
- top up another wallet;
- withdraw to any bank card;
- to a card that was issued by YuMoney.
The user can also transfer funds from card to card.
Limits on withdrawals and commissions in YuMoney
Withdrawal limits for personal wallets: for one operation - 15,000 rubles, per day - 150,000 rubles. For users who have passed full identification, the limits are as follows:
- for one operation – 75,000 rubles;
- per day – 150 thousand;
- per month - 600 thousand.
You can withdraw money from your YuMoney card without commission, but within the limit of 10,000 rubles per month. If you exceed this value, the commission will be 3%. Also, the bank from whose ATM you withdraw your money may charge an additional commission.
Using exchangers to withdraw money
It is also quite convenient to use various exchangers for withdrawal. To choose your exchange direction, go to bestchange.ru. In the left column, select YuMoney, and in the right column, select the desired withdrawal method.
As you can see, funds can be withdrawn from an electronic wallet:
- to your crypto wallet;
- exchange for other electronic money;
- transfer to bank;
- receive cash.
Having chosen the desired direction, pay attention to the exchangers on the right side of the site. The exchanger offering the most favorable rate for you is shown first. See what reserve this service has for the currency you need. If the reserve amount is less than the amount you plan to receive, you have two options:
- withdraw money in parts;
- choose an exchanger below with a sufficient reserve, but with a not so favorable rate.
Electronic wallets are modern and powerful tools for managing your money. The main and almost only drawback is their dependence on the Internet. However, in some cases, this can be circumvented by ordering a card that is linked to a wallet. Thanks to such cards, the capabilities of electronic wallets are in no way inferior to the functionality of such familiar Internet banking.
An additional method of withdrawing funds
It is not always possible to cash out funds transferred to certain wallets. Sometimes you need money right now, but there is no way to go through the confirmation procedure. For such cases there are exchangers. These are companies that, for a commission, provide the opportunity to transfer funds from one payment system to another.
Exchangers charge a small fee for transfers. In order to choose a suitable exchanger, just go to bestchanges.org. This is a huge collection of all exchangers. You can select “From” and “Where” you want to transfer money. Websites, commissions and minimum restrictions on transactions will tell you.
This is a current way to receive money from electronic wallets for residents of Ukraine. Ukrainians have many difficulties making transfers through the Webmoney and Yandex Money systems, since most opened these wallets for settlements with customers as freelancers.
I myself have used exchangers several times, and I can say that they work quite honestly. They charge a small commission and send money almost instantly.
