My recent money transaction with MoneyBookers

MoneyBooker isn't a new term among the Bangladeshi freelancer. Many of us withdrawing our freelanced money through moneybooker. Recently I have withdrawn a little amount through it. This post is about some of the pros and cons of moneybooker transaction in Bangladesh.

Well it is a known issue, at present many of us have faced problem of moneybooker's over charged fees. I have talked many of the freelancer and became to know that they have faced the same issue. I found there are freelancer who has charged by the moneybooker 20 USD and when they query to moneybooker,they became to know that moneybooker has converted their USD to Euro,that's why they have cut 20 USD for the conversion charge. This problem is faced by the freelancer who used DBBL (Dutch Bangla Bank) for their moneybooker transaction. Now the question arises why moneybooker converted from USD to Euro? The answer i found when the local bank doesn't accept usd from moneybooker then they convert the money to euro and send to the local bank. In this process we loose the conversion fee+fee for the transaction.

So knowing all these issue i decided not to send my USD in DBBL. That's why i opened a bank account in Uttara Bank Ltd. and transfer 49.49 usd from moneybooker and i received 3244 BDT, so 1usd=65.5 BDT, which clearly indicate no conversion has been done through moneybooker.

I already transferred 100 usd more to the same bank,lets see what happens this time.