Electronic Money (E-Money)
Electronic money (also known as e-money, electronic cash, electronic currency, digital money, digital cash or digital currency) refers to money or scrip which is exchanged only electronically. Typically, this involves use of computer networks, the internet and digital stored value systems. Electronic Funds Transfer (EFT) and direct deposit are examples of electronic money. Also, it is a collective term for financial cryptography and technologies enabling it.
Technically electronic or digital money is a representation, or a system of debits and credits, used to exchange value, within another system, or itself as a stand alone system, online or offline. Also sometimes the term electronic money is used to refer to the provider itself. A private currency may use gold to provide extra security, such as digital gold currency.
Many systems will sell their electronic currency directly to the end user, such as Gogopay, Paypal, WebMoney and Wirex, but other systems, such as Liberty Reserve, sell only through third party digital currency exchangers.
Although digital cash can provide many benefits such as convenience and privacy, increased efficiency of transactions, lower transaction fees, new business opportunities with the expansion of economic activities on the Internet, there are many potential issues with the use of digital cash. The transfer of digital currencies raises local issues such as how to levy taxes or the possible ease of money laundering. There are also potential macroeconomic effects such as exchange rate instabilities and shortage of money supplies (total amount of digital cash versus total amount of real cash available, basically the possibility that digital cash could exceed the real cash available). These issues may only be addressable by some type of cyberspace regulations or laws that regulate the transactions and watch for signs of trouble.
| E-Money
|
Account
Type
|
Deposit Money
|
Send Money
|
Receive Money
|
Withdraw Money
|
Currency
Supported
|
Currency
Conversion
Rate
|
Bank
Transfer
|
Credit
Card
|
Bank
Wire
|
Check
|
Fund
|
Credit
Card
|
Fund
|
Credit
Card
|
Bank
Transfer
|
Credit
Card
|
Bank
Wire
|
Check
|
|
Personal Starter
|
< RM250
- RM15
> RM250
- Free
|
|
USD 20
|
Free
|
Free
|
|
Free
|
|
RM 15
|
|
USD 15
|
USD 4
|
20
|
2.50%
|
| Personal Pro
|
2.50% +
RM 1.20
|
4.90% +
RM 1.20
|
USD 5
|
| Business
|
|
Personal
|
|
1.90%
|
Free
|
|
1%
(up to
EUR0.50)
|
|
Free
|
|
|
|
EUR1.80
|
EUR3.50
|
39
|
1.99%
|
|
Personal
|
Free
|
3.90% +
RM2
|
|
|
Free
|
Free for Online Purchases
Free/3.4% + RM2 for Personal Payment
(either the sender or recipient can pay this fee)
|
Free for
Personal Payment
3.40% +
RM2 for Online Purchases
|
3.4% + RM2 for Online Purchases
Free/3.4% + RM2 for Personal Payment
(either the sender or recipient can pay this fee)
|
< RM400
- RM3
> RM400
- Free
Return
- RM15
|
RM20
Return
- RM40
|
|
|
24
|
2.50%
|
| Premier
|
| Business
|
|
Based On
Currency Type
|
|
|
Free
|
|
0.8% (Max
USD50)
|
|
0.1% (Min
USD0.01)
|
|
|
|
0.8% (Max
USD50)
|
|
7
|
|
SCAM e-money program Alert
-->> E-GOLD (www.e-gold.com)
Why?
1.On 11 March 2008, e-gold has been sued by USA government for money laundering program
2.You cannot get cash from e-gold and the only way is through exchangers which will take almost 50% of your gold as fee.
3.Every year they will charge you 0.5% of your total gold as a storage fee.
4.Their support will never ever respond to you, neither your account hacked complaint, nor refund request.
5.So, nowaday majority of the internet users has concluded that e-gold is only for scammer to scam people due to their advantage of no charge back, no refund, and no support respond.
|
