Not all websites with whom you wish to do a transaction, nor many individuals, have the capability to handle credit cards on the internet. Thus other reliable methods of transferring value (usually currency) are necessary.
Unlike digitized gold currency, EVT does not require you to convert your fiat currency into gold, by purchasing gold, or electronic gold, before you can make a value transfer.
Once you have set up an EVT account, you choose with how much flat currency you load your online account. You then access these funds when spending at participating websites, online commercial entities, or even sometimes by sending email instructions. The receiver, who also must be signed up with the same evt entity, completes the value transfer through acceptance.
Warnings
Because these systems act as debit cards, your online account is not allowed to become overdrawn. If you pay for an item while there are insufficient funds in your account, your bank or credit card account may be debited to make up the difference. There may also be a charge for doing this. Your online EVT account can be frozen. It will be your responsibility to ensure that there are sufficient funds in your account to cover any transactions you may wish to make.
If you are selling items, with a number of these EVTs, it is possible for the person paying you to change their minds and reverse their transaction. Of course, often this is reasonable, but there are those who buy goods and receive goods, and then reverse the transaction without returning the goods. With some EVTs, a chargeback can be made up to six months after the original sale, with the amount being deducted from a credit card or bank account if not available in the EVT account. Worse for the seller, such chargebacks may also incur additional fees. For this reason, many sellers prefer to only use non-reputable EVTs.
