How to Register and Use Perfect Money: A Complete Guide
Perfect Money is an established digital payment system founded in 2007, offering instant online transactions in multiple currencies including USD, EUR, and Bitcoin. It is primarily used for cross-border payments, investments, and deposits.
Trustpilot Rating: https://uk.trustpilot.com/review/perfectmoney.com
Risk Disclosure
I am highlighting the risks of Perfect Money at the beginning. Please read this section carefully before deciding to register. Readers assume all risks associated with using this service.
- Regulatory Risk: Perfect Money may not be strictly regulated in certain countries or regions, potentially increasing legal and compliance risks. Users in these areas may lack legal protection, especially in cases of disputes or fraud.
- Reputation Risk: Due to lower transparency and unclear regulation, using Perfect Money may carry a certain degree of reputation risk.
- Legality Issues: In some jurisdictions, using Perfect Money or similar e-currency systems may be illegal, potentially leading to violations of local laws.
- Third-Party Exchange Risks: Third-party exchange platforms for Perfect Money may engage in fraudulent activities.
Uses of Perfect Money
- Currency Exchange: Supports conversion between multiple currencies, including traditional fiat currencies and digital assets like USD, EUR, and Bitcoin.
- Deposits and Savings: Provides deposit accounts allowing users to store funds, potentially earning interest.
- Cross-Border Transactions: Ideal for international transactions and payments, facilitating trade between buyers and sellers globally.
- Purchasing Goods and Services: Allows users to buy products and services from online stores and service providers that accept Perfect Money.
- Investment Services: Offers investment accounts where users can participate in various investment opportunities.
- Receiving Payments: Enables individuals and businesses to receive payments as part of e-commerce activities.
Background
Recently, while xiaoz was extracting commissions on a Russian X platform, they discovered that Perfect Money was among the supported wallets. After searching for information and registering, xiaoz wrote this article.
Registering for Perfect Money
My Perfect Money referral signup link: https://perfectmoney.com/signup.html?ref=93255274 (You may need a network tool if the link does not open)
Provide your real name and address information truthfully according to your situation. Accuracy is crucial, as false information will affect subsequent account verification.
- Account Name: e.g., "Daniel's account" (I used my name in Pinyin).
- Full Name: Enter your name in Pinyin. For example, if your name is "Zhang San," write "SAN ZHANG" or "ZHANG SAN."
- City: Enter in Pinyin.
- Address: Enter in Pinyin or English translation. This address should ideally match your bank statement address.
- Country: Select "China."
- Email: Enter your frequently used email address.
- Account Type: Choose based on your needs; xiaoz selected "Personal."
After ensuring the information is accurate, click the "Register" button at the bottom. You will receive an email containing your "Member ID." Use this ID and your set password to log in.
Account Verification
Account verification enhances your credibility with other Perfect Money users and grants access to advanced account features. While you can use the account without verification, you may face limits and higher fees. Verification requires the following documents:
- Passport
- Proof of Address
- Phone Number
After logging in, visit the verification page: https://perfectmoney.com/verify.html. You will see three confirmation steps:
- Name Confirmation: xiaoz uploaded a photo of their passport.
- Address Confirmation: xiaoz used a screenshot of an iFAST Global Bank bill address. Theoretically, bills from other banks (such as WISE) should also work.
- Phone Confirmation: Enter your domestic mobile number starting with
+86.
For the phone number, xiaoz used a domestic number with the +86 prefix. After submitting, you will receive a call from the US containing a PIN code. Enter this code on the webpage to confirm. The call is in English, repeated twice, but spoken quickly. It is recommended to enable recording when answering. If you miss any part, you can listen to the recording again.
Review Time
xiaoz submitted the application on January 10, 2024, at 11:00 AM.
- 3:00 PM: Name confirmation passed.
- 4:00 PM: Address confirmation passed.
The review took less than one working day, which is quite efficient.
Depositing and Withdrawing Funds
Perfect Money supports official wire transfers for deposits and withdrawals, but the minimum amount is $300. If the amount is less than $300, you must use third-party exchange platforms. However, online searches indicate that third-party platforms often charge high fees and have cases of fraud and risk. Therefore, exercise extreme caution when selecting a third-party platform.
Additionally, xiaoz discovered that the Gate exchange also supports buying and selling virtual currencies using Perfect Money.
Currency Exchange
Perfect Money also offers a currency exchange function to convert between USD and EUR. After testing and comparing, xiaoz found that the exchange rate incurs a loss of approximately 2% compared to Google's displayed rates.
Summary
Perfect Money can be used with or without verification. Verification unlocks advanced features and requires proof of identity, address, and phone number. The official wire transfer minimum is $300; amounts below this require third-party platforms, which carry higher fees and fraud risks. Currency exchange on Perfect Money incurs approximately a 2% loss. Additionally, the Gate exchange supports payments via Perfect Money.
Perfect Money Registration Link: https://perfectmoney.com/signup.html?ref=93255274