All about Perfect Money: A complete review

The system offers wide opportunities to its users. It serves as a payment method, option for pay-in and pay-outs, and provides a separate range of features for businesses. Also, the most popular Perfect Money usage is as an e-wallet. 

To know more about this popular payment system and its features stay still till the end of this article. 

🔻Related: Skrill review

What is Perfect Money and how does it work?

Originally registered in Panama, Perfect Money network was established in 2007. It was initially created as an electronic payment system for non-cash payments and online settlements to become a secure tool for users all around the world. Users can use this payment system to pay for goods and services with popular cryptocurrencies, using their Perfect Money wallet. Users can then deposit or withdraw their funds from this e-wallet. Perfect Money accepts deposits and withdrawals via bank wire transfer, Bitcoin, credit and debit cards including Visa and Mastercard, as well as Perfect Money e-vouchers and prepaid cards. 

Functions and use

Users can use Perfect Money to make money transfers and pay for goods and assets securely through an internet opening. They can also store funds in a secure electronic account and receive interests and bonuses per transaction or deposit. Perfect Money can be used to buy Bitcoin, gold, USD and EUR currencies online. In addition, Perfect Money accepts payments on behalf of various business projects on the Internet, so if you have an online business you can simply bring an online payment gateway to your marketplace using this service.

Pros and cons of Perfect Money

There are a number of advantages counted for Perfect Money that we’ll briefly discuss here. All transactions made within the system are done instantly, both deposits and withdrawals. The system hires a highly secure anti-fraud process to guarantee the security of funds and reassure its users that nothing bad will happen to their money. Plus, there are dozens of online exchange systems that offer related services for the system. 

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There comes a number of drawbacks for the system too. The first is that not many online businesses accept Perfect Money. This makes users dependent on other online payment gateways with a wider range of acceptability. All transactions made with Perfect Money are irreversible and can not be taken back once done. Therefore, users must keep an eye open since in case of any fraud or scam, there would be no refund. Another big pitfall of the system is that it does not accept US clients. 

Perfect Money fees

Perfect Money fees vary depending on the type of account you own or your payment method. The system charges 1.99% commission for transfers from unconfirmed accounts. Internal transfer fees for confirmed and unconfirmed accounts are 0.5 percent and 1.99 percent. Deposits are usually free but you still need to check with your broker to see if there are any fees. Withdrawal costs are 0.5 percent for Perfect Money just like other popular systems. However, using an online exchange service can sometimes bring you better fees and more cost-effective solutions. PayPax is one of those systems on which you can exchange PM to WMZ, PM to USDT, PM to Payeer and lots of other options with the best mid-market exchange rates and low transparent fees. 

Perfect Money security

Each transaction performed by a user is scanned by the Perfect money system to prevent the risk of fraud and cybersecurity attacks. In case of any suspicious activity, the system will redirect the data to operators for manual processing. Due to this anti-fraud strategy, the transactions made within the system usually take up to 24 hours and it’s very common for them to be delayed. That is why many users have complained about these delays and mentioned them as a negative aspect for the system. 

🔻see also: PayPal review

Is perfect money safe? 

Account security is given top priority in the secure Perfect Money system. When a new IP address or browser tries to log in to an account, access is initially refused and a message with a PIN code is sent to the user's provided email address to confirm that the user is the account owner. The user must then input the code to get access. Each account has this automated process activated.

The anti-fraud scanning technology used by Perfect Money is a state-of-the-art security solution that helps its users. To stop money theft, an anti-fraud screening process is applied to each login and each transaction. The unique activity tracking algorithms in this system make Perfect Money a more secure environment for users while preventing any unauthorized use.