The first version of Skrill money transfer review was released in 2001 as Moneybooker. Users can send and receive payments from around the world using this online payment system, which operates similarly to PayPal.
We’ll examine Skrill charges, exchange rates, debit cards, credit cards, and other features in detail, in this Skrill.com review. As well as asking the question that dominates Google search results for years: Is Skrill trustworthy?
- What is Skrill?
- Is Skrill Secure and Legit?
- What are Skrill’s charges/Fees?
- Skrill Pros and Cons
- An Alternative to Skrill
- Frequently Asked Questions
- Skrill Review Summary
What Is Skrill?
Originally, Skrill focused on the online gambling industry in the UK. Due to some regulatory changes, PayPal had turned its back on the industry in the early 2000s, which led companies like Skrill and neteller review (now owned by the same corporate parent) to position themselves as alternatives to PayPal and begin building their reputations.
The company’s current name was given to it in 2013 after a two-year rebranding process. A year later, the business was acquired by Optimal Payments Plc, which had also acquired Paysafecard, a voucher-based payment platform.
It is possible this influenced the change of The Paysafe Group’s name to Optimal Payments. As a web wallet provider during that period, Skrill has remained one of the biggest in the world.
Learn How To Set Up A Business Account With Skrill
Now is the time to get started
It’s easy and quick to open a Skrill business account. Getting started accepting payments has never been easier.
The following steps will help you open a business account:
- Open the signup page – https://signup.skrill.com/onboarding and enter your primary email address to start your application. A business registration page will then appear.
- Include basic information about the business, the owner, and their contact information. If you have your website, must include a link.
- Your complete application will be reviewed as soon as they receive it.
- Should there be any additional documents needed, they will contact you.
- The Skrill team will let you know about the status of your application as soon as they receive all the needed information.
- Your unique merchant ID will be provided to you once you receive approval. It will allow you to connect your eCommerce store with your Skrill account and begin accepting payments online immediately.
Is Skrill Safe And Legit?
The security and safety of Skrill are excellent. The company is authorized by the Financial Conduct Authority in the United Kingdom.
It’s understandable that some users are concerned about its past associations with gambling, but keep in mind that Skrill was founded in the UK and is governed by UK law. There is no legal prohibition on online gambling in the United Kingdom, and it is heavily promoted on television and during sporting events.
So, is Skrill legit? Is Skrill reliable? Absolutely. Very much so.
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What Are Skrill’s Fees?
There are a variety of countries and currencies where you can use Skrill, and its fees vary based on where you are and the currency you use. To give you an idea of how much you can expect to pay in the United States, take a look at these USD rates for US customers:
|Depositing Money||$0||There are several methods of payment, including VISA, Mastercard, Paysafecard, Bank Transfer, ACH, and Paysafe Cash.
|Send Money||$0||To other Skrill merchants and users.
|Receive Money||$0||From other Skrill users and services.
|International Transfers||4.99%||The incoming and outgoing currency must be the same.
|Currency Exchange Rate||3.99%||Fees for this service are added to the wholesale exchange rate.
|Skrill Prepaid Card||$10 per Year; $2.50 ATM Fee||You may also be asked to pay $10 if you don’t meet certain requirements.
How About Skrill’s International Fees?
Skrill money transfers are free if you’re sending domestically, but you may be charged if you’re sending internationally. If your account is inactive, you may be charged a $5 fee if you haven’t made any payments in the past year. The service won’t work if you close the account, so if you aren’t interested in using it, be sure to withdraw every last penny.
Most of the time, these fees are reasonable. When you transfer money internationally and process payments in different currencies, things change. A third-party data provider (Reuters) publishes the “wholesale exchange rate,” and you’ll be charged 3.99% on top of that. Although that sounds modest, it adds up over time.
Skrill Pros And Cons
Some users may find Skrill a good service, but it may not be suitable for others. Your needs will determine whether it is right for you or not. Here are some pros and cons that will help you decide if Skrill is the right payment platform for you.
Pros: Skrill Offers Both Personal And Business Accounts
Skrill Business may be more beneficial to you if you use it to make regular payments to contractors and freelancers, whether you are buying and selling products.
You can move money into a number of currencies, and you can also withdraw money quickly. You can move money where you want, when you want, with a brand that puts your security first.
Pros: It’s Secure And Safe
The security and safety of Skrill have already been mentioned. The company has been regulated by the Financial Conduct Authority since day one, and it has always adhered to some very strict rules and regulations, ensuring that its users and their money are protected at all times.
Services like this are only as safe as their users. Using an unprotected Wi-Fi network or losing your password or devices will put you at risk.
Several systems have been implemented to minimize this risk. You will be asked to use two-factor authentication, for instance, in order to recognize your device and your IP, but these services only work if you let them, so use them responsibly.
Pros: Skrill Comes With A Prepaid Card
Using a Skrill prepaid card, you can make in-person purchases and withdraw money from ATMs.
Despite similar services being available elsewhere (such as PayPal and Wise), the Skrill debit card has not been available in the United States for a long time. In 2020, this is changed.
Skrill charges a few fees as noted above in our Skrill Fees table, but the card is easy to activate and fairly cheap.
Pros: Skrill Works On Many Devices
With Skrill, you can access your account directly through your web browser and it is compatible with most operating systems and browsers. Mobile access is also available through the Skrill app, which is available for download from both the iOS and Android app stores. With Skrill, you can check your account, make a payment, or withdraw some funds on the go.
For a quick overview of Skrill payments using an app, check out our FAQs.
Cons: Verification Can Take Time
The verification process is frequently mentioned in Skrill wallet reviews. Most complaints, however, are unfounded. These regulations were put in place for a reason – to protect users and to create a safe environment in general. Nevertheless, if you encounter a problem, it may take some time to resolve it properly and this is when it becomes a problem.
To verify your identity, you will need to submit a photo ID, such as a driver’s license or passport, and address proof, such as a utility bill.
Cons: Limited Customer Service
Live Chat is not available in Skrill. The company has a chatbot named Sofia, however, you will not be connected directly to a customer support representative, and this service is only available to existing members (you must enter your registered email address to start a conversation).
Frequently Asked Questions(FAQs)
Is Skrill Better Than PayPal?
You are free to choose when its going to be skrill vs paypal. Many people have reviewed these companies over the years, both positively and negatively. Both of them have made significant investments in improving their services during the same time period. PayPal seems to have the edge on the extent and efficiency of these changes, especially considering how much faster and more effective Skrill’s customer service is, but it’s a matter of personal preference.
How Long Does a Skrill Deposit Take?
Skrill will take varying amounts of time to fund your account based on your chosen method. Bank transfers, for instance, take between two to five days, depending on the bank and when they are processed. Paysafecard, Rapid Transfer, debit card, and credit card payments will all be processed instantly, whereas this is one of the slower ways to fund your Skrill account.
What Countries Can Use Skrill?
The Skrill payment system is available in dozens of countries and regions worldwide. There are too many countries where Skrill is not available to list here, but you can find a list of them on this page.
Skrill is also available in certain countries, but the features are limited. A Skrill Prepaid card is available in the United States and a few other countries, but it’s not available in many other regions.
Skrill App Review
With Skrill’s app, you can easily access all of its features in a compact form and send/receive money in a few clicks. Skrill can be downloaded from the App Store and Google Play. It will make your life easier when it comes to making payments on the go and only takes a few seconds to download and install.
You should still be able to access your Skrill account using your mobile browser, even if there does not seem to be an app for other mobile platforms. Although it might not be as easy to use and accessible as the app, it’s better than no app at all!