Skrill is a popular online wallet that will allow you to send money to any company or service that accepts Skrill payments. In order to be able to handle money, all you need is an email.
You may remember Skrill from the past under the old name of Moneybookers. Today, the services of the London-based company are used by more than 40 million people in 200 countries around the world. Together with Neteller, these are the two most popular online wallets that online casinos offer players for financial transactions.
Simple registration on Skrill
A tremendous advantage of Skrill is the simplicity and safety. To register, you only need an identity document (identity card, driving license or passport) and a document or rather a receipt for a payment which has your address. This can be an electricity bill, phone bill, internet bill or something similar. Immediately after the verification that takes a few minutes, you will be able to transfer money to your newly made Skrill account and start using the service.
Financial transaction to the Skrill online wallet
When it comes to deposits and withdrawals, Skrill is regulated by the British regulatory body (FCA). You, therefore, don’t have to worry that this is a service run somewhere from a tax heaven or a pyramid scheme with a dodgy background. Your money is absolutely safe.
You can make a deposit in several ways. Via a credit or debit card, a wire transfer or with another online wallet (Neteller), via Bitcoin, Paysafe, Trustly and also Paysafecash. It’s similar with the withdrawals. Either you send money from Skrill to your bank account or directly to your debit/credit card. You can also use a Skrill card (Mastercard) that works just like a classic debit card and then you withdraw the money from an ATM.
Among the main reasons why Skrill is so popular is the speed of money transfers. Whether you’re paying or receiving, you have the money in your account immediately or within a few minutes.
Fees and restrictions
Even with Skrill, some services have an associated fee, some are for free. It is free to start an account, its maintenance, online payments to vendors or receiving money. It is worth mentioning that account maintenance is free if you log on to Skrill at least once a year or you make a transaction. If you didn't do that, EUR 5.00 will be deducted from your account every month.
Some other actions on Skrill are also accompanied by a fee. For example, you will pay (1%) for your deposited money, for sending money to an email address or another Skrill account (1.45%), for withdrawing money via the VISA card (7.50%), withdrawing money via a wire transfer (EUR 5.50) and for withdrawing money from an ATM with a Skrill card (1.75%). These fees were valid during the writing of this article and they may change over time.
In order to take full advantage of Skrill, we definitely recommend you install Skrill – mobile application. It’s available for both iOS and Android and among other benefits, it will increase safety and the entire management of your Skrill account.
And in conclusion the mentioned restrictions. You will encounter them mainly if you wish to use Skrill without verification. If you verify yourself, the majority of the restrictions disappear. The verification consists of several steps and every fulfilled condition in the given step will remove another restriction. If you like to feel exceptional and the basic account wouldn't be enough for you, Skrill offers you several types of VIP accounts with various benefits. It mostly depends on the volume of transactions you carry out at a certain time.
With the advent of crypto currencies, Skrill made great leaps also in this area, and if you are among its fans, you will definitely appreciate that the service is trying to open to this novelty as much as possible.
- deposits in real-time (immediately)
- a webpage that supports many languages
- a high-quality mobile application
- low fees when compared with other online wallets
- sending money to the entire world
- fees on deposits and withdrawals
- the amount of the fees changes sometimes
- money withdrawal may take 1-24 hours