Last Updated on October, 2024
I don’t want to make you sleep with a dull start.
Let me keep it SIMPLE.
Even though Skrill is less famous than leading money transfer services like Revolut, Wise, and XE, some features are great.
I was impressed (I love Skrill) when I did a deep study. My ONLY intention for this piece is to know everything about Skrill – especially answer the question, ‘Is Skrill Trustworthy?’
Keep reading.
Contents
- About Skrill
- Is Skrill Safe and Legit?
- What are Skrill Fees and Exchange Rates?
- Skrill Limits
- How to Send Money Through Skrill?
- How Does Skrill Compare to Other Money Transfer Services?
- Types of Transfers Available With Skrill
- Skrill Non Serviced Countries
- How Does Skrill Prepaid Card Work?
- Duration for Transfers
- Customer Support
- Customer Testimonials
- Skrill: Pros and Pros
- Alternatives to Skrill
- Conclusion
- FAQs
About Skrill
Skrill, initially known as Moneybookers when founded in the UK in 2001, started with a focus on gambling and e-sports transactions. In just eight years, by 2009, its value grew to £365 million.
At this point, they expanded their services to include all customers and businesses, moving beyond their initial emphasis on gambling and e-sports. In 2011, the platform decided to rebrand itself as ‘Skrill,’ though the exact reason for this change remains unclear.
Two years later, in 2013, Skrill acquired Paysafecard, an Australian prepaid card program, and was subsequently bought by CVC Capital Partners. Another significant development occurred in 2015 when Skrill merged with Neteller, one of its major competitors.
Skrill currently supports transactions in over 40 different currencies, including cryptocurrency. Even more interesting is that Skrill issues a ‘Skrill Prepaid Mastercard,’ which is available in physical and virtual forms.
These cards can be given in four currencies: British Pounds, US Dollars, Euros, and Polish Zloty.
Is Skrill Safe and Legit?
Yes. Skrill is a safe and secure platform. Despite its past association with the gambling industry, it’s essential to note that Skrill operates under UK law.
Online gambling is legal in the UK and widely advertised on TV and during sports events.
So, is Skrill trustworthy? Absolutely. It is legitimate and reliable. Check out Skrill’s terms and conditions for more information if you have concerns about your data and privacy.
What are Skrill Fees and Exchange Rates?
As I told you before, Skrill works in many countries and accepts payments from various currencies. However, the fees you incur depend on your location and currency.
However, for a detailed understanding, I’ve attached a table below. Check it out!
| Service | Fee | Payment System |
| Depositing Funds | $0 | Visa, Mastercard, Paysafecard, Bank Transfer, ACH, Paysafe Cash |
| Skrill Card (Prepaid Card) | $10 per year, $2.50 ATM Fee | Additional $10 charge if certain requirements aren’t met Currency conversion: 3.99% above mid-market rate |
| Send Money | $0 | To other Skrill users and merchants |
| International Transfers | 4.99% | Outgoing and incoming currency must be the same |
| Currency Exchange Rate | 3.99% | Changed in addition to the wholesale exchange rate |
| Withdrawing Money | $5.50 | ACH |
| Receive Payments | $0 | From other Skrill users and services |
| Stay Active Fee | €5 (or equivalent) monthly | Applied if no login or transaction is made every 12 months |
Now did you get the question, ‘What about Skrill international fees?’
Well, I’ll discuss that too.
Skrill’s International Fees
TRUST ME. Sending money through Skrill is free for domestic transfers, but there might be fees for international transfers. If you don’t make any payments within a year, there’s an inactive Skrill account fee of $5 annually, but this can be avoided by closing your Skrill account.
Understood?
While the standard fees are generally reasonable, things change when sending money abroad (International transactions) and currency conversion.
Skrill will charge an additional 3.99% on top of your bank transfer amount if you’re sending money abroad or dealing with different currencies. It might not seem like much on its own, but it can add up over time.
Therefore, it’s essential to be aware of these charges and consider them when using the service. If you decide not to use Skrill anymore, withdraw all your funds and close your account to AVOID any lingering fees.
Skrill Limits
Skrill sets limits for its US customers based on account status, chosen payment method, and the recipient’s country. Skrill may adjust these limits as they see fit.
For standard US customers, the limits are as follows:
That’s all about Skrill limits.
How to Send Money Through Skrill?
To send money through Skrill, sign up for a FREE account. Provide your full name, contact details, phone number, and email address. You’ll also need to share either your Social Security Number or provide a photo ID with proof of residence.
After signing up:
Review and confirm all fees and payment details associated with the transfer before finalizing. Complete the payment for your transfer. You can track the progress of your initial Skrill deposit and any money transfers through your Skrill account.
Note: Typically, your recipient will receive payments in 2 to 5 business days.
How Does Skrill Compare to Other Money Transfer Services?
If you want to send under $10,000 for a personal account in the US, Check this table. It’ll be beneficial for you to compare and send money abroad.
| Service | Transfer Speed | Fees (Bank Transfers) | Special Offer | Description |
| Wise | Within minutes | From 0.41% (transparent fees) | N/A | Wise uses mid-market rates and clear fees to help you send money in 45+ currencies (fairly cheap) |
| Cash App | Within minutes | From $0 | N/A | Easily pay friends and family from your phone with no fees. Only available for US bank accounts |
| Revolut | Within minutes | From $0 | N/A | Revolut provides a global exchange rate for 150+ currencies, ensuring transfers within 30 minutes |
| Instarem | 24 hours | From $0 | New customers get a special FX rate and zero fees | Instarem offers rewards on every transaction |
Types of Transfers Available With Skrill
Skrill offers various ways to put money into your account or take it out. You can deposit money using ACH transfer (Automated Cleaning House), bank account wire transfer, or your Mastercard/Visa credit card.
You can also use a Paysafe card. If you’re a US resident, there are no Skrill fees for depositing funds; however, remember that your credit card payments or bank account might have their fees.
When it comes to withdrawing funds, for US residents, the only option available is through a bank account via wire transfer.
It’s important to note that since Skrill uses wire transfers instead of ACH transfers for withdrawals, your bank might charge a fee for incoming wire transfers.
Contact your bank directly to find out if this fee applies to you.
Skrill Non Serviced Countries
You might wonder why I will discuss non-serviced countries instead of supported countries. Skrill is authorized to handle transactions in nearly every country around the world except those under sanctions by the World Bank or the UN.
This sets them apart from competitors that tend to operate mainly in developed countries.
Check this for the list of countries where Skrill services are not available. (I don’t want to add a long list here and make you mad – as it’s less critical.)
Note: Although only sometimes accepted, Skrill is preferred by many, especially those who face limitations with using PayPal for various reasons.
How Does Skrill Prepaid Card Work?
Do you know? A Skrill USA prepaid card is a handy way to make in-person purchases using your Skrill account.
Unlike PayPal, with Skrill, there’s no need to transfer money separately to a debit card – your Skrill debit card is directly linked to your account, allowing instant access to your funds.
Skrill debit cards are more FLEXIBLE than PayPal since they are available in four currencies: US dollars, British pounds, and Euros, which only cater to US customers.
Using a Skrill debit card for everyday purchases incurs no transaction fees, making it convenient. You can AVOID the $5.69 withdrawal fee if you predominantly use Skrill card for non-cash transactions.
However, when it comes to ATM withdrawals, be CAUTIOUS! Skrill charges a $2.40 fee for each withdrawal. Plus, there’s an annual debit account maintenance fee of €10 ($11.34).
So, while it’s excellent for daily spending, remember the associated costs for withdrawals and account maintenance.
Duration for Transfers
GUESS WHAT? When you transfer money using Skrill, they aim to deliver your funds to your recipient’s account within 24 to 72 hours after receiving your payment.
The exact timing depends on the destination country, the payment method you send, and the day you initiate the transfer.
Please note that the transfer speed may vary based on these factors, but Skrill’s goal is to ensure a timely and reliable delivery of your money.
For more specific information about the expected duration for your particular transfer, consider the destination and payment method you’ve chosen.
Customer Support
Skrill customer support is available through phone and email channels. While there isn’t an online help desk, you can call Skrill at 855-719-2087 to quickly address common issues like recovering your account.
If you prefer email, you can contact [email protected], or VIP customers can use [email protected]. Skrill is also present on social media platforms like Facebook and Twitter, providing an additional way to get them.
Remember to share personal information privately for security reasons.
The hotline, 855-719-2087, is considered the best phone number for Skrill, with reports suggesting it is staffed 24/7. It’s recommended to have your Skrill account ID number ready before calling.
If you face issues like a disabled account, Skrill support can assist in reactivation upon request, except for permanently closed accounts.
In case of a disabled account due to verification, providing necessary documentation, such as a passport or ID card, recent bill or bank statement, and a photo with the document, should help resolve the matter.
Plus, for lost or stolen prepaid Mastercards, prompt contact with the card issuer is essential to prevent further liability for unauthorized charges.
Acting quickly in reporting lost cards or suspicious activities is crucial for minimizing potential losses from your account balance. Overall, Skrill offers multiple avenues for customer support, ensuring assistance through various channels for different needs.
Check their website for more details.
Customer Testimonials
Skrill has a Trust score of 3.5 out of 5 on Trustpilot from 23,018 reviews, presenting a spectrum of users’ opinions.
Positive feedback highlights efficient customer support and ease of use, with some users suggesting fee reductions. However, concerns arise regarding account closures without explanation, unresponsive customer service, and dissatisfaction with increasing fees.
While some users defend Skrill against negative reviews, others express security apprehensions due to unauthorized transactions.
The reviews underscore a mixed user experience, emphasizing both commendable aspects and areas where improvements are sought, making it crucial for potential users to consider these perspectives before choosing Skrill for their financial transactions.
I’ll add some random screenshots for better understanding.
- Customer Review 01:
great service but fees are very high try to reduce to 0.5%, also help USD BANK ACCOUNTS TO RECEIVE MONEY LOCALLY.
This user shares his positive experience with Skrill. However, he states that they incur high fees, and reducing them to 0.5% is best.
- Customer Review 02:
the support on hot line is amazing:they picked up in less than 20 seconds! this is incredible. I’m not a fake or a bot, before expecting help from them, I read a lot of negative reviews here and after that I set myself in a negative mood and was already thinking about coming to terms with my means – but no! this is the best and fastest customer support I swear to god.
Xcle shares her satisfaction by giving a 5-star rating. She states that the customer support is excellent and helped her to overcome the issue and requests the users not to trust the negative reviews.
- Customer Review 03:
Was okay in the past, fees weren’t that bad..just withdrew 2500 from skril to my bank account via faster payments which used to be free, then was $5 now the total was 45£ to transfer money via a free method anyone can do – on top of this fees to deposit via card it cost me £100 to get £2500 out. Ridiculous and won’t be using again
Stephen has given 1 1-star rating, sharing his negative experience with Skrill. He states that it was good earlier, and eventually, they started incurring Skrill’s high fees.
My advice is that you can’t solely depend on customer testimonials to decide whether to prefer a platform or not. There is much more to consider, so I’ve covered the pros and cons in the following section.
Skrill: Pros and Pros
Like all financial institutions, Skrill has its strengths and weaknesses. I need to discuss this because it will also play an essential role in deciding whether you need to consider Skrill.
Pros
Cons
Alternatives to Skrill
There are many alternatives to Skrill (in case you prefer a better option). I’ve researched and shortlisted ONLY four platforms here to help you in all possible ways.
Wise (Formerly TransferWise)
Wise is a reliable alternative to Skrill, focusing on transparent and low-cost international money transfers. One of its STANDOUT features is its real exchange rate, providing users with mid-market rates without hidden fees.
Wise allows you to hold and manage multiple currencies in a single account, making it convenient for international travelers and businesses. Its user-friendly interface and transparent fee structure are appreciated by many.
Get to know Wise better by reading this review.
Pros
Cons
Revolut
Revolut is a financial technology platform (payment processor) that offers various services, including international money transfers, currency exchange, and prepaid debit cards. With Revolut, users can hold and exchange multiple currencies at interbank rates.
It provides budgeting tools and the ability to spend in over 150 currencies without hidden fees.
Get to know Revolut better by reading this review.
Pros
Cons
Cash App
Cash App, developed by Square, is a peer-to-peer payment platform that has expanded to include features like stock investing and Bitcoin transactions.
It allows users to send money to their loved ones or businesses. Cash App’s ‘Cash Card’ provides a physical card for spending and ATM withdrawals.
Pros
Cons
Instarem
Instarem is a digital cross-border payment processor that is BEST for competitive exchange rates and a low transaction fee. It allows users to send money to over 90 countries, with features like same-day transfers and multi-currency wallets.
Get to know Instarem better by reading this review.
Pros
Cons
In short, each of these alternatives to Skrill has its UNIQUE features and advantages, meeting different user preferences and needs.
Other online bank reviews:
Conclusion
Did you spend nearly 15 minutes to complete reading this piece? Tired?
Alright, RELAX.
(Just because two novels share a similar genre, like mystery or romance, doesn’t mean you should always choose one. Some readers love one author’s style, others prefer a different storyteller, and many enjoy both)
The sample principle applies here.
Wise is often considered one of the BEST alternatives to Skrill. But that doesn’t mean Skrill’s services and features aren’t good. Every platform has its benefits and drawbacks. Your part is to pick what’s best for you.
FAQs
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