A buyer of mine told me he can’t pay me through PayPal. He recommended me to sign up for iKobo. I’ve been to their web site before but I didn’t see the need to do it because I already accept payments through PayPal and Western Union money orders. Now I have that need!

iKobo is available in over 100 countries. This is how it works….

The buyer sends payment to your through his debit or credit card. The money is transferred to your iKobo account. You will receive an iKobo card to withdraw cash from your local ATM machine. Sounds cool doesn’t it?

The only drawback I see with iKobo is that it will take some time for the card to arrive to you. Once you have the iKobo card, you can reuse it again and again. I hope its worth the initial wait!

The receiving fees are 2.99% + USD $0.30 per transaction. That’s almost the same for PayPal’s fees. An additional charge of USD USD $1.50 + hidden fees will be charged to you. The hidden fees depends on your local ATM provider. That’s a grey area that I unsure of.

Compared to PayPal, I only pay SGD $1.00 + the exchange rate to withdraw money to my local bank account. Ok, that takes about a week too.

I guess I’ll only know which one works best for me after I’ve used it! For more information, visit iKobo’s web site.

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