How does liberty reserve work?
By apurva0709
@apurva0709 (49)
India
February 15, 2013 4:03am CST
Suppose I create an account with LR for receiving online payments what will happen next? Can i withdraw my earnings to my local bank in Inida? Or can i send them to my paypal account? Or what can be done to withdraw the earnings either to Bank or Paypal? I am confused by reading LR TOS as they say LR cash has to be exchanged ..
4 responses
@yallit (3677)
• Philippines
15 Feb 13
The only way to get your LR funds to your bank account is to sell your funds to someone or use exchangers. Here's the link of exchangers that LR has listed down: http://www.libertyreserve.com/en/exchangers.
My advise though is for you to find someone who buys LR funds in India who will send the equivalent exchange direct to your bank account or pay you through other local means.
@apurva0709 (49)
• India
15 Feb 13
Thanks i saw all that list but i am not able to find a trusted exchanger as i don't know any of them. If you use LR can you recommend me one.. Please :)
@yallit (3677)
• Philippines
15 Feb 13
I use LR but what I do is sell my funds to another person locally and she transfers to my bank account the equivalent amount (local currency) we agreed upon. That's how we often do it here in the Philippines.
However, I've used AlertExchanger before to exchange my Payza funds to Paypal since they're authorized by Paypal for a one-way transaction. The fee is quite high and it took 5-6 business days to complete. From what I can see on their site, LR to Paypal is available. You can also use bankwire and Western Union but expect additional fees.
@apurva0709 (49)
• India
16 Feb 13
Nice way.. Thanks for sharing info i will think of joining it as LR charges the lowest fees.. Though will have to find an exchanger soon :p
@suraj7nov (1736)
• India
16 Feb 13
liberty reserve is very good site to withdraw money as they have less fees compared to other payment processors,only solution what i give it to u is use xchanger.org,thats the exchange i use as you can convert your liberty reserve to payza and if you are verified user and attached your bank account to payza you can get it to your bank
@apurva0709 (49)
• India
17 Feb 13
Suraj payza has not been getting good reviews by Indian citizens as it transfer cost very high plus high fees plus delay in transfers. So i don't trust payza. Is there any way to exchange for paypal ?
@suraj7nov (1736)
• India
19 Feb 13
there is no way to exchange paypal,altough payza having high fees,but they are reliable,so far i am not having any trouble
@AkamaruKei (5204)
• Malaysia
15 Feb 13
You cannot withdraw a funds in liberty reserve but you can sell your funds. It is very good to use liberty reserve for forex site. Forex is market to trade a currency
@AkamaruKei (5204)
• Malaysia
16 Feb 13
I also still not try forex site because we need a training to learn forex site. I see we can earn a lot of money from forex site if we know to trade but we will lost a lot of money if we dont know to trade.
@extremefun4fun (2908)
• India
15 Feb 13
I also have the same problems, first that with paypal I can not keep money in that and earning of just some dollars does not make that much benifit of sending them to local bank accont and I have opened with liberty reserve to have hope i can have money in there and not transfer it to local account. but you can send your money I think from there to your local bank account as well.
@apurva0709 (49)
• India
15 Feb 13
Yeah but thats what i am searching for too how to send .. This is what makes me not join that site until i find correct answer. Thanks to reply :)
