Product Name: Paybis
Price: Free to Join-Fees in exchange
Owner: Inokentijs Isers
Overall Ranking: 80 out of 100
I so happen to hear some of my internet marketing friends raving about the various ways that they can exchange or even transfer currencies online. Yes, we are living in a technological era and money exchange online is nothing new.
Paybis offers the service of making trades online using different currencies. They promise that their transaction is fast, safe and secure. Let us see if they are living up to their words as this review will unfold if they actually work.
Introduction About Paybis
Paybis is an online portal that allows individuals to change buy, sell or exchange digital currencies. It was started back in 2014 and is growing faster and larger. In relation to the owner of the company, it is owned by an ATM group organization and registered under the name Inokentijs Isers. Check out the stats about the company here.
They allow exchanging e-currencies to be done internationally. Some services that they offer is to buy bitcoin with ones’ credit card, make bank transfers, send gift cards and make credit card payments.
Pro’s and Con’s of Paybis
- Good privacy
- International money transfer and exchange process is easy.
- No refunds
- High fees for exchange and transfer
- The danger of black money
- Long wait for exchange
Who is Paybis for?
This is for persons who are into online business and want to cash out funds or transfer money from one online account to the next or credit card.
It is for those who do not mind paying the fees that are required. It is also for those who don’t mind the risk of not getting a refund or putting in what they can afford to lose.
Finally, it is for internet marketers who need to trade with bitcoin or make investments in international accounts.
Training and Tools Overview
Paybis does not provide any training on how to use their platform. I must tell you though that it is very simple and easy to use and maybe that is the reason they don’t provide training. All that is required is to signup using Facebook, Google+, or entering email and creating a password.
Members will choose their level of verification and provide the relevant personal information (Government ID, utility bill etc). There are verifications that are needed depending on the type of business on wishes to do with them. Take a look at the types of verification. Documents have to be scanned and sent to them. It will take 2- 48 hours for verification to be completed.
They provide a conversion tool on their dashboard that will allow you to see how much you will get in another currency when you transfer money and the fees that they charge. I think this is good and allow you to better make decisions than seeing their fees after a transaction. Beginners can exchange no more than $500 per month.
They do have a referral program where members can introduce other people to sign up and they will receive a 10% profit in commission for each successful transaction that their referral makes.
Different fees are charged based on the medium which transfer or cash out or exchange is made. Fees are usually 5-10% of the amount be sent or collected. This is pretty high. Below is an example of their bitcoin and CreditCard exchange rates.
- Bitcoin exchange rates- 100 USD= 96.15 US dollars, 4 percent commission, 100 USD= 97.09 USD, 3 percent commission, 100 USD= 95.24 USD 5 percent commission.
- Credit card exchange rates- 100 USD= 95.24 USD, 5 percent commission.
- Take a look at their Rates
It can take up to 24 hours in waiting for gift cards to be cashed out. PayPal is restricting bitcoin-related transactions but Paybis is doing such transactions so be careful. A person can exchange or trade money on various mediums. Some include:
- Western Union
- Walmart gift card
- Money Gram
- Credit card transfers
- Buy bitcoin with Credit card
They have a 24/7 support system where persons can reach them if they run into any difficulties. On their site they also have their company address, phone, and email. Their support system does work. I wouldn’t say it is 100% but would give them 90% because of a few complaints they have.
Address: Kr. Barona Street 122/2 Riga Rlga LV1012 LV
Complaints and Reviews
Matteo – April 10, 2017
Order reference: PB170317531T3
Very fast and precise.
I would use them again for my exchange needs
Julius – April 10, 2017
Nice guys, good service!
Vic Tim – April 4, 2017
Alex Amiryan – April 4, 2017
Ari – April 4, 2017
However Papal charge another 3$ commission.
Kelvin – April 4, 2017
BTC for Life! – January 26, 2017
Then i realized that price on their website paybis.com is better, since paxful takes extra fees.
Now i’ve purchased BTC several times directly from paybis.com and i simply love these guys!
Max – January 18, 2017
I agree to pay a bit of extra price for their great service and premium support!
amr adel – November 26, 2016
I have make an order at https://paybis.com/ with exchange gift card in 31 October 2016 with number order PB16105099T2 they have rejected it and told me they don’t accept victorias secret out of usa today i would like to use my gift card I go to check its balance they said balance zero, i called to gift card company and told me they inform me that my gift card cash out in the store changed for cash at the store and no more information right now. its cash out his way is bad to talk to his customers. they cash out it last week in 19 November 2016.
Paybis.com – April 3, 2017
We are sorry that you have experienced a problem with your card. We are not physically located in USA and therefore technically were not able to cash out your physical gift card.
Inany casee we are ready to compensate your loss so that you would be satisfied, just contact us and we will find a solution.
I have make an order at https://paybis.com/ with exchange gift card in 31 October 2016 with number order PB16105099T2 they have rejected it and told me they dosent accept victorias secret out of usa today i would like to use my gift card I go to check its balance they said balance zero, i called to gift card company and told me they inform me that my gift card cash out in the store changed for cash at the store and no more information right now. its cash out his way is bad to talk to his customers. they cash out it last week in 19 November 2016.
My Final Say
I have never tried an exchange, cash out or transfer personally with Paybis but I have watched my friend do it and it did work.
Sometimes when persons convert small figures there is no problem but after a period doing larger figures can cause not getting another dollar through their system.
So far from its inception, it has been doing great in its transfers but be careful not to put in what you cannot afford to lose.
My advice is to start small and keep it that way. The ball is in your court if you want to use this exchanger as your main income cash-out for the future.
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