Perfectmoney payment processor review and information

In today’s article I’m going to review Perfectmoney.com. This is a payment processor, like Paypal and Payoneer. In this article you will learn everything you need to know about Perfectmoney.

What is Perfectmoney?

Perfectmoney is a payment processor that you can use to accept and send payments, just like Paypal and Payoneer and many others. It’s not as popular as some of the big names out there, but it has existed for many years and has proven itself to be a legitimate payment processor which offers some perks that the other big alternatives do not.

 

Registration and Verification

You can click here to sign up and create an account on Perfectmoney. Registration is as simple as filling out your name, address, email and choosing a password.

Here is the picture:

I won’t guide you through the process of getting verified step by step, but it’s just like any other payment processor. You will be asked to provide proof of identity and proof of address. For the identity you can send a screenshot of your government issued ID or passport, and for address you can send a utility bill or a bank statement.

If you need any help in getting verified you can always leave me a comment below this article, or better yet contact Perfectmoney support and ask them any questions you may have.

If verification is unsuccessful for some reason, you will receive an email like this:

Dear [NAME],

Your verification request has been processed.

Status: declined

Please provide us In focus, high resolutions scan of your Passport/ID/Utility Bill.
Once the document(s) is available please re-submit the verification request.

Or like this:

Dear [NAME],

Your verification request has been processed.

Status: declined

Accepted documents for address confirmation: bank statement, recent utility (gas, water, electrics) bill or other similar document (phone or internet bill, insurance certificate etc) with surname and address in Latin characters, or a notarized translation if surname and address written in other characters.

Note: You may upload a bill of your close relative (parent, spouse etc) instead of your own if you share the same surname.

Requirements:
– Image must contain the full officially issued document page with your surname and address on it made from the top-side prospective;
– Your surname and address in account details must be exactly the same as in submitted document and written in Latin characters;
– Image must be in a high resolution, in focus and in original colors without any computer modifications;

 

In any case, they will tell you what the problem is and what to do to resolve it.

 

When verification is successfully completed and approved, you will receive an email like this:

Dear [NAME],

Your verification request has been processed.

Status: Approved

 

Sending and Receiving money

One of the benefits of Perfectmoney is the low fees for sending money, and no fees for receiving money. So if you accept a payment on Perfectmoney you pay no fee for receiving the money. You only pay a fee if you send money to somebody, and that fee is very small.

When you send a payment, you will receive an email like this:

The amount of 300 USD has been withdrawn from your account

 

When you receive a payment, you will receive an email like this:

The amount of 50 USD has been deposited to your account

 

Country Availability

Another benefit is that Perfectmoney is available in many countries where Paypal and other payment processors are not. This is good for the people in those countries, as they can use the payment processor for their needs. But as a seller online this means Perfectmoney is a must have, as some people would not be able to pay with Paypal or any other payment processor, but they will be able to pay with Perfectmoney, and you will want to accept it.

A surprising negative here is that Perfectmoney is not available in the United States. I find this weird and I’m not sure why that is, but there you go. Some people may be put off by this, but Perfectmoney has been working for many many years and there are no big complaints about it online. It’s a legitimate payment processor. The reason it’s not available in the US probably has more to do with the US laws than any problems with the payment processor.

 

Where is Perfectmoney.com?

The site’s domain name is actually Perfectmoney.com, not Perfectmoney.com. The reason for this is unknown to me, and I don’t particularly care to spend time finding out why that is. But if you want to know you can easily Google it and find the information out for yourself.

That said, here is what you see if you visit Perfectmoney.com

Dear Perfect Money members,

We pay to your attention that domain perfectmoney.com has been halted since 16.07.2015 due to board of directors decision from 26.06.2015

Please use our main domain perfectmoney.is

Sincerely,
Perfect Money administration

 

Withdrawing your money

Withdrawing money is also very good as Perfectmoney allows you to withdraw your money into Bitcoin at only 0.05% fee. That’s pretty good and flexible if you ask me. On the other hand withdrawing to a bank account (wire transfer) costs “from 2.85% + bank fee.”

Some other withdrawal methods they offer is Cash withdrawal, e-Voucher, E-currency and Certified Exchange Partners.

Here is the picture:

 

Credit Exchange?

See the last image in the screenshot above that says “Credit exchange.” Perfectmoney offers you the ability to borrow money from other users or lend money to others by setting an interest rate and earning an interest on the money you loaned them.

I never used this feature one way or the other, but it does exist and is available, and if you want to play with it you can.

 

Monthly Interest

Perfectmoney actually offers a monthly interest on the money you have with them. I was surprised when I first saw this, but they do offer it, and every month I get some money added to my account as monthly interest.

The amount I get depends on the amount of money I have in my account at the beginning of the month, and as I don’t have a lot of money in my Perfectmoney balance I usually get just a few cents as monthly interest. However percentage-wise the monthly interest is quite good if comparing to banks, and anything else really.

Here is the information about it:

PerfectMoney: online wallet with 4% fixed annual interest on your money. They are paying interest on the money you keep in your account. The interest rate is 4% on annual base (or 0,33% on monthly base) and it is paid monthly.

You can find more information about this here – http://www.transact.money/p/online-wallet-with.html

 

Affiliate Program

Perfectmoney also apparently has an affiliate program.

They say: “Perfect Money calls your attention to our partner program. We offer you to get 1% of annual profit from the minimum monthly number of your referrals.”

You can see details and find promotional materials here – https://perfectmoney.is/promotion_materials.html

I’ve never really promoted my affiliate link, so I have no idea if the program is still valid and works. But they seem to have it and I would imagine it works just fine.

 

Here is a video I made about Perfectmoney:

 

Conclusion

Personally I consider Perfectmoney as one of my Top 5 payment processors. It allows me to diversify the payment processors with which I accept money and pay with. It gives me a monthly interest, it allows me to withdraw in Bitcoins, and it’s all around a legitimate payment processor and an asset to my business.

 

Note: Check out my follow up article where I explain how to change important notification settings on your Perfectmoney account