These days, online payments are perfectly normal for any Internet user. But even after the advent of WebMoney in 1998, this payment method is still an alien payment method for many people. Due to the widespread use of WebMoney in depositing and withdrawing dollars from reputable Forex brokers, as well as the possibility of converting it into banknotes anywhere in the world, we decided to introduce WebMoney and explain what WebMoney is and how it works.
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Introducing WebMoney payment method
WebMoney is a payment system that has been active since 1998 and is headquartered in Moscow, Russia. This system is like an online bank for people who want to make their payments online. Like PayPal, WebMoney is another reliable payment processor that people use for different purposes.
I mean, you can pay, receive money, buy and do many other things, including electronic money, with this system. In the business world, people need to make different transactions over time. Since we live in the digital age, many online businesses need online payment gateways. Webmoney plays an important role in conducting online business transactions.
how it works?
The mechanism of Webmoney is simple and not complicated at all, so sit back and relax. This service offers different services to meet the different needs of each user. I mean, there are different wallets that can be used. These wallets are standardized for each currency as per the needs of each user.
You just have to register an account at www.wmtransfer.com and then create a wallet to trade in the money you want. For USD you can create WMZ wallets, WME for Euros, WMB for Belarusian Rubles and WMG for Gold Stocks. (Do not worry, the following bags will be covered separately)
You will receive a unique WebMoney ID or unique WMID that you may give to someone for trading purposes. Likewise, you should give this unique wallet ID to other people to receive funds. You will also need your WMID to send money.
But the only point is that WebMoney does not interact directly with international banks, and you should get help from online and reputable online exchanges to buy WebMoney dollars in Rials or sell WebMoney dollars and receive Rials in your bank account.
What is a WebMoney Wallet?
To help users perform various operations and cater to their online needs, Webmoney has standardized wallets for any currency or monetary instrument.
You can create one of 8 different wallets from within your WebMoney account. If you want to trade in USD, you can use Z-Purse or WMZ, WME for Euros. You can create any other type of wallet according to your needs.
Is WebMoney safe for storing and transferring money?
This is a very important question and you have to find the answer before you go after any payment system. You put your money in payment systems, in other words, you risk your money. To answer your concerns, let’s look at WebMoney in a different way.
This payment system is not run by a single body like other payment systems. I mean, there is a separate company for each wallet for which there is a “guarantor”. You can get your wallet address on the WebMoney website.
Secondly, they have different levels to protect your account and inbox. The first and most practical level of security is the issuance of confirmation SMS. This means that you are safe as long as you provide your mobile number. If someone wants to log in to your account, even if they have your password, because they do not have access to your mobile phone, it will be impossible for them to log in.
And, for example, if you encounter any adverse conditions, then return your account with a verification question that you only know about. This makes WM a secure processor to rely on online payment processing.
Types of WebMoney passports
Financial exchanges occur between users of the WebMoney system remotely. Most money transfer parties do not know each other and cannot meet in person. Not surprisingly, the issue of trust is essential first. Is the transfer safe? Is the recipient a scammer? And what mysterious person is hiding behind the 12-digit WMID ID? WebMoney Passport is the best way to answer all these questions and ambiguities.
A WebMoney Passport is a digital identification document certified by a signature sample from a WebMoney Transfer system user that contains the owner’s personal information and confirms that the holder of the wallet identified with the passport is a real person who identifies all information and His residence has been established. There are several types of WM-Passports, depending on the quantity and method of verifying the information provided by the system user. WebMoney Passport status gives you more trust than other system users, so WM-Passport outperforms most features offered by WebMoney Exchange System.
The following passports can be obtained in WebMoney:
- Alias passport
- Formal passport
- Initial passport
- Personal passport
When registering, everyone has an Elias passport. This passport has the lowest identity value and the capital transfer ceiling is $ 300 per month. Also, because your identity is confidential, WebMoney can block your money for a variety of reasons until you identify yourself. This is to prevent money laundering as well as terrorist activities.
To be able to easily have up to $ 15,000 per month of dollar transfer, after registration, you must send a photo of your national card or ID card containing the information entered during registration to the webmoney authentication department. This will give you a formal passport.
To receive higher passports with a higher transfer limit (personal passport does not have a transfer limit and can be transferred with unlimited money.) You must be authenticated in person by a WebMoney representative and also the amount equivalent to $ 25 to $ 50 Also pay the agent. We recommend that you only receive higher passports if your monthly transfer capacity is more than $ 15,000.
In this article we have tried to briefly and usefully explain what WebMoney is and how it works. If you have any questions in this regard, you can contact support.
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