Discussion of article "Payments and payment methods" - page 35

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Nitin Raj:

After trying 3-4 different credit/debit cards, one of my card(Visa) has finally worked for the withdrawals. 
I think it depends on the issuer Bank if they allow the inward remittance on the card. 
If they don't, contact the customer care and ask them to allow it on your card. 

Update:

The card withdrawals have been working so well for me that I will have to think twice about switching back to Paypal if MQL5 restores it in the future.
It's cheaper, offers better conversion rates than Paypal, and money appears in my bank account literally in a second after I hit the withdraw button on MQl5. 

 


paypal never come back again unfortunate

 

I foresee a big drop in sales volume with the removal of PayPal. Many buyers were using PayPal for deposits, and now with no more PayPal there will be less sales which is a lose lose situation for everyone. Also its a big problem that some sellers have funds that they can't withdraw.

MQL5 already makes 20% commission from all sales in the market plus we have to pay a 2% fee to withdraw using PayPal so for them paying a transaction fee it shouldn't be a problem. Really not good and I guess we will have to start to look at other alternatives to sell our products now.  

 
Dustin Vlok:

I foresee a big drop in sales volume with the removal of PayPal. Many buyers were using PayPal for deposits, and now with no more PayPal there will be less sales which is a lose lose situation for everyone. Also its a big problem that some sellers have funds that they can't withdraw.

MQL5 already makes 20% commission from all sales in the market plus we have to pay a 2% fee to withdraw using PayPal so for them paying a transaction fee it shouldn't be a problem. Really not good and I guess we will have to start to look at other alternatives to sell our products now.  

yes it is.  Many of us can't remove our funds because of this.  In some countries Paypal is the only mechanism that works.  They've removed the only option we have to remove funds in United States.  Plus less buyers like you mentioned. 


And they do it silently; sneaky.  Remove paypal and don't say a thing to their customers beforehand.  Very sloppy and unprofessional.  Yet they still market on their website to new customers that they accept and payout with paypal when that is a blatant lie.

 
this sucks not being able to remove our funds would be nice if you guys used something works world wide like maybe virtual coins maybe thru coinbase or another exchange.
 

As many, I am locked out of my proceeds for the time being.

My two cents on this issue:

  • Many sales will be lost from people that love paypal. Consider leaving it only for buyers.
  • Sellers from USA and EU won't be able to make withdrawals

Alternatives:

  • Withdrawals by bank transfer / 15 day lock period / minimum amount 5,000$
  • USDT (Tether USD, NO BANKS INVOLVED)
  • Skrill

Skrill is used worldwide and fast to implement.

Tether USD requires no banks, no compliance, can't be cut off, fast to implement, no fees, anyone can install the wallet.

Thumbs up for Tether USD!

I'll patiently wait.

Thanks.


 
Arturo Lopez Perez:

As many, I am locked out of my proceeds for the time being.

My two cents on this issue:

  • Many sales will be lost from people that love paypal. Consider leaving it only for buyers.
  • Sellers from USA and EU won't be able to make withdrawals

Alternatives:

  • Withdrawals by bank transfer / 15 day lock period / minimum amount 5,000$
  • USDT (Tether USD, NO BANKS INVOLVED)
  • Skrill

Skrill is used worldwide and fast to implement.

Tether USD requires no banks, no compliance, can't be cut off, fast to implement, no fees, anyone can install the wallet.

Thumbs up for Tether USD!

I'll patiently wait.

Thanks.


Agree Skrill is easy and works for mostly countries 

 
This problem arises after every few month , why not just enable crypto withdraws.
 

Update:

I have successfully used a UK VISA debit card to withdraw funds although my bank said this may get blocked... so time will tell


Looking forward:

I still believe it is incrediably poor business and poor customer service from Metaquotes to mess around with payment options without notice or regard of the impacts.

The answer has to be a proper mainstream business method that can work for everyone, after all sellers are their business partners.  

Things like unregulated crypto methods are not proper payment methods and will incur even more cost to realize as money and fluctuate too much, the obvious solution is direct bank transfer which would also get rid of 90% of the fees involved as well.

I wonder how Metaquotes would react if somebody said from now on everytime you recieve money 2% shall be deducted.... they would quickly look for a better payment method, so they should be doing that for the sellers as well.

 

I think that Bankwire and Sepa are the best options. Hopefully, that we can get Sepa Transfer and Bankwire ( SWIFT )  in MQL5.


I really love this platform and I wish all the best for the MQL5 project. 

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