I'm thinking of depositing a substantial amount of sum into Perfect Money.

The advantages are:

  • (much) ease in international transfers (when buying/selling things online)

  • (much, much) better interest rate compared to local bank's 0.05% per annum (yes that's only $1 per $2000 in a year)

But I'm wondering, how safe are my funds on Perfect Money?

The funds in my local bank is guaranteed up to at least $50000 SGD if the bank ever collapses. Perfect Money has a "Guarantee" page which after much beating around the bush, states:

Future has Perfect Money

Does this mean that our funds are not guaranteed?

How safe are our funds on Perfect Money?


3 Answers 3


After reading their full guarantee page, it seems that they really don't understand the definition of the word. They don't seem to offer any guarantee, but rather just a list of reasons that they believe their plan is foolproof.

Mostly they argue that their lawyers have covered every angle and a lot of big players use them so naturally everyone will respect the value of their online currency. Nowhere do they address what happens if their company goes belly up, which is the primary thing I'd be worried about with this type of thing.

Ironically they specifically state on their guarantee page

Many first-rate payment systems tried to guarantee their stability but unfortunately failed to fulfill their obligations given to the users and contractors. Myopic investment policy and court claims of tax agencies have frequently adversely affected the work of Electronic Payment Systems.

Which, personally, would make me even MORE nervous to use their system.

Their guarantee amounts to, other systems have crashed and burned, but we are smarter than those guys and even hired lawyers to confirm it!


In addition to there being no real guarantee on the guarantee page, note that the domain was registered on May 27, 2013, so there's no substantial track record of reliability. Finally, their Terms of Service explicitly note that they are not liable for loss of funds due to system malfunction, unauthorized access, etc. etc.

Perfect Money is going out of their way to ensure they are offering no guarantees and will not be liable for any losses. How safe are your funds? You should not consider your funds to be safe if stored there. There's no guarantee you'll lose your funds, but no significant reason to believe you won't.

Additionally, Perfect Money shut down access to all U.S. citizens on July 1st, 2013 with only two weeks of notice. Anyone who did not withdraw their money within this time lost access to it.

  • WOW now that's evil
    – Pacerier
    Dec 1, 2013 at 2:00

Looks to be a competitor of PayPal, you transfer money and they keep it in virtual account ... enable transfer and receive funds ...

Nope the funds are not backed by any Central Banks if that is what you are looking at.

If you want to use it, my recommendation is not to keep a large balance. If it goes down, one cannot even trace their owners.

  • Ok, so does it mean that basically their "Guarantee Page" pretty much says "We guarantee nothing"?
    – Pacerier
    Nov 27, 2013 at 11:50
  • Consider this, what good is a guarantee if it is backed by the same people you are guaranteeing against?
    – JohnFx
    Nov 27, 2013 at 15:03
  • @JohnFx, Then it wouldn't be called "guarantee" of course... by "what is their guarantee", I meant "what is their guarantee; guarantees backed by someone else besides them".
    – Pacerier
    Nov 27, 2013 at 15:16

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