Skrill Review

Skrill Review Summary

Skrill is a popular online money transfer and payment service. Its easy-to-use interface lets you send and receive money from anywhere, and allows you to use your credit or debit card to make payments. If you live outside of the United States, you can use Skrill to make payments to people in the United States. The service is available in a number of languages, and it accepts a variety of payment methods, including Visa. Signing up for Skrill is easy and free. You can do so online or through the app, and you will need to fund your account with a certain amount. Then, you can increase your payment limit and add more accounts.

Skrill review
Skrill Features

Skrill Year Established

2001

Skrill International Clients

Skrill accepts international clients.

Skrill Age requirement

18 years

Skrill Currencies Offered

33 online

Skrill Minimum Transfer

US$1.00 (varies based on certain currencies)

Skrill Transfer Fees

none

Skrill Office Locations

Headquarters in US, with subsidiary offices and certified agents literally across the globe.

Skrill Employees

717

Skrill Turnover

110,000,000 USD

Skrill Regulation

Financial Conduct Authority (FCA)

Skrill Fees

Skrill transfer fees are none.

Fees with Skrill may vary per transfer, depending on method of sending, currencies and amount. Based on World Bank statistics, the fixed fee can be as high as 19 Pounds for 120 Pound transfer to Ethiopia (source).

Additionally to the fixed fees taken by Skrill, the World Bank Statistics reveal that an additional markup of between 1 and 4 per cent is incurred.

Skrill Client Rating

Skrill has a rating of 3.

Number of Skrill customers

120,000

Skrill Website

transfers.skrill.com

Skrill Supported Languages

English, German, French, Spanish, Italian, Portuguese, Polish, Greek, Russian, Mandarin, Czech

Skrill Review

Skrill review
Pros and Cons of Transferring Money with Skrill

Most of the time money transfers with Skrill will be smooth. Each money transfer service have their own benefits and isses, so always weigh the pros and cons of sending money with Skrill money prior to submitting an application to Skrill.

Can you easily afford the Skrill fees, are the exchange rate costs reasonable with Skrill?

Skrill review
Skrill Advantages

  • Skrill has been in business over 4 years
  • Skrill offers PayPal as a payment method
  • Skrill offers Neteller as a payment method
  • Skrill offers Skrill as a payment method
  • Skrill is availble in many international countries.
  • Skrill offers a wide range of money transfer currency options.
  • Skrill offers phone support.
  • Skrill offers email support.
  • Skrill offers an Apple iOS mobile application.
  • Skrill offers an Android Google Play Store mobile app.

Skrill review
Skrill Disadvantages

  • Skrill does not offer PayPal as a payment method
  • Skrill does not offer Neteller as a payment method
  • Skrill does not offer Skrill as a payment method
  • Skrill does not offer a mobile wallet.
  • Skrill does not offer Home delivery for money transfers.
  • Skrill does not offer Cash pickups for money transfers.
  • Skrill does not offer Money orders.
  • Skrill does not offer Livechat support.

What Is Skrill?

Skrill is a financial service company, that offers its clients money transfer services.

Skrill was founded in 2001 by Rupinder Singh and has offices in London, UK.

Skrill provides money transfer services to its 120,000 customers who are from all over the world including Most of the countries around the globe (notable exceptions include Afghanistan, Angola, Barbados, Benin, Cape Verde, Cuba, Gambia, Iran, Iraq, Japan, Libya, Namibia, Niger, Sudan, Suriname, Syria, Turkey).

The London, UK Skrill business was founded in 2001 to deliver money orders locally and internationally.

Do Skrill Offer Money Transfer?

Money transfer businesses, or other financial corporations use EFT (electronic funds transfer) to send money across distances, large or small. That is to say that it is not actual money being sent, it is rather data that represents the amount being sent that the recipient can withdraw whenever they wish.

Is Skrill Trusted And Established?

Skrill is among the most recognized and reputable money transfer platforms. It has an exceptional track record and offers reasonable rates.

Skrill was established in 2001 in London, UK, and has been in operation for around 21 years Skrill have a head office in London, UK.

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How much does it cost to send a Skrill Transfer?

Skrill money transfer exchange rates are quite minimal compared to banks and other money transfer providers. A minimal percentage is charged on top of the exchange rate as standard practice. Skrill only charges none, when compared to other money transfer service providers.

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How much can I send with Skrill?

The maximum transfer amount with Skrill is up to US$2,500.00 / day (weekly and monthly limites also apply) (or its currency equivalent) online.

While Skrill charges a small percent of transfer fees, the brand offers reasonable exchange rates.

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Skrill Money Transfer Terms and Conditions

When transferring money with Skrill, it is crucial to keep tabs on the following:

  1. Skrill Speediness. Often the need to money transfer may be urgent and time critical.
  2. Skrill Reliability and reputation. The safety of money and personal information can be a concern for those wanting to use international money transfer services to send money.
  3. Skrill Transaction charges. Transaction charges are important as the majority of customers wish to send money overseas without having to worry about paying excessive charges.
  4. Skrill Ease of use, and convenience. Your money transfer platform should be flexible and offer a good range of options and features, making it more convenient for customers to send money overseas.
  5. Skrill Customer service. Because one can often run into problems when transferring money. A money transfer platform with excellent customer service could solve a lot of problems. Skrill customer service should respond to your queries quickly and work with you to resolve any issues that you have.

Skrill review
How Skrill Compares To Other Money Transfer Companies

NameSkrillNetellerScotiabank
Usedby120,00050000025,000,000
Transfer Time3-5 business days2-6 hourssameday
Min TransferUS$1.00 (varies based on certain currencies)nonenone
Max TransferUS$2,500.00 / day (weekly and monthly limites also apply)up to 50000 USD/transaction 10000 USD
Payment MethodsCash, bank transfer, debit card, credit card, e-wallet, cryptocurrency (depending on country)online banking account, debit, and credit cardBank transfer, debit card, credit card, apple pay, google pay, Scotiabank Saddletone gift cards
iOS Appyesyesyes
Android Appyesyesyes

Skrill review
Skrill Risk Warning

Any taxes or charges are payable in the destination country. costs may exist that are not paid through Skrill or imposed by Skrill. Your Skrill money transfer transaction may be cancelled if it is demmed to be connected with prohibited activities including all applicable laws regarding anti money laundering or counter terrorism financing laws. or the transaction is actioned through unauthorised use of your Skrill account.

Skrill review
Skrill Fees & Exchange Rates

Several money transfer platforms like Skrill charge money for every money transfer a customer makes through their platforms. Other than that, every time an individual exchanges money from one particular currency to another, the money transfer operator in this case Skrill may charge for a currency exchange.

Skrill review
Skrill Transfer Fees

A transfer fee is the sum of money that a money transfer operator like Skrill charges a customer for transferring money to a recipient. The amount charged depends on the operator charging it.

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Skrill Exchange Rate Margins

Exchange rate margins are how Skrill, banks and other financial corporations make profit off their services instead of charging customers with commission fees.

When a bank or a money transfer service like Skrill quotes an exchange rate to a customer, they usually take the interbank rate and add an amount known as a margin rate. Check with Skrill to see what their exchange rate margin is.

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Skrill Methods to Transfer Funds

A Skrill fund transfer is when someone sends money from their account to another person's account. Money can be transferred using different methods, e.g. online, via the phone, or a mobile app.

The methods to transfer funds are:

  • Manual EFT
  • Automatic EFT
  • Bill payment
  • Correction

Skrill enables users to transfer money using bank transfer, via none.

Skrill review
Skrill Currencies Supported

Money transfer operators that offer more currency options are beneficial because they make for reduced conversion fees. This way customers do not have to pay exorbitant conversion fees when transferring money.

Skrill offers every available world currency to its customers. We list the major Skrill supported currencies below.

Skrill Money Transfer Currencies
NameCurrencies
AUD, BGN, CAD, HRK, CZK, DKK, EUR, HKD, HUF, INR, ILS, JPY, JOD, MYR, MAD, NZD, NOK, OMR, PLN, GBP, QAR, RON, SAR, RSD, SGD, ZAR, KRW, SEK, CHF, THB, TRY, AED, USD
AED, AUD, BGN, BRL, CAD, CHF, CNY, COP, DKK, EUR, GBP, HUF, INR, JPY, MAD, MXN, MYR, NGN, NOK, PLN, RON, RUB, SEK, SGD, TND, TWD, USD, ZAR
USD, AUD, CHF, EUR, HKD, JPY, BBD, BMD, BSD, DKK, GYD, INR, JMD, KYD, MXN, NOK, NZD, SAR, SEK, SGD, TTD, ZAR, GBP
EUR, GBP, USD, CAD
AED, AUD, BND, CAD, CHF, CZK, DKK, EUR, FJD, HKD, HUF, IDR, ILS, INR, IRR, JPY, KRW, KWD, LKR, MAD, MXN, MYR, NGN, NZD, OMR, PEN, PGK, PHP, PKR, PLN, SAR, SCR, SDG, SEK, SGD, THB, TOP, TRY, TWD, USD, VND, VUV, WST, XOF, XPF, ZAR
AED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BYN, BYR, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CUC, CUP, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, FKP, GBP, GEL, GGP, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, IMP, INR, IQD, IRR, ISK, JEP, JMD, JOD, JPY, KES, KGS, KHR, KMF, KPW, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, LYD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PRB, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SDG, SEK, SGD, SHP, SLL, SOS, SRD, SSP, STD, SYP, SZL, THB, TJS, TMT, TND, TOP, TRY, TTD, TVD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VEF, VND, VUV, WST, XAF, XCD, XOF, XPF, YER, ZAR, ZMW
AUD, CAD, DKK, EUR, HUF, INR, JPY, MUR, MAD, NZD, NOK, PLN, RON, SGD, ZAR, SEK, CHF, THB, AED, USD, HKD, RMB
AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, SGD, USD, ZAR, AZN, BGN, BHD, BND, CNY*, EGP, FJD, HUF, IDR, ILS, INR, KRW, KWD, LKR, MAD, MGA, MXN, MYR, OMR, PEN, PGK, PHP, PKR, RUB, SAR, SBD, SCR, TOP, THB, TRY, TWD, TZS, VND, VUV, WST, XOF, XPF
AED, EUR, PLN, AUD, GBP, SEK, CAD, HKD, SGD, CHF, HUF, USD, CZK, NOK, ZAR, DKK, NZD
AUD, EUR, BHD, USD, BDT, BGN, CAD, CZK, DKK, HKD, HUF, INR, IDR, ILS, JPY, KES, KWD, MXN, NPR, NZD, NGN, NOK, OMR, PKR, PHP, PLN, QAR, RON, RUB, SAR, SGD, ZAR, LKR, SEK, CHF, TBH, TRY, GBP, UAH
AUD, BHD, BRL, GBP, CAD, CLP, CNY, CZK, DKK, EUR, HKD, HUF, INR, ILS, JPY, JOD, KES, KRW, KWD, MXN, NAD, NZD, NOK, OMR, PLN, QAR, RON, RUB, SAR, SGD, ZAR, SEK, CHF, XPF, TND, TRY, AED, USD

Skrill review
Skrill Transfer Options

Skrill offers the following transfer options:

Skrill Money Transfer Options Compared
NameTransfer Options
Bank deposit, cash pick-up, VISA & MasterCard, ATMs, mobile wallet deposit (depending on country)
Bank deposit
bank deposit, cheque, wire transfer, debit card, credit card
Bank deposit, cash pick-up , door-to-door delivery
Bank deposit
cash
Bank deposit
Bank deposit
Bank deposit, mobile wallet deposit
Bank deposit, debit card, credit card
Bank deposit, cash pick-up, mobile wallet deposit (varies from country)

Single Payments

’Single payments’ is a term used to recognize a one-time money amount from an allowance. For a single payment, the user may use a single credit card (or debit card) and have a single invoice.

Regular Payments

A regular payment is a highly economical and easy way to transfer money with Skrill. It is best suited for customers who have to transfer regular smaller amounts (usually three, four, or smaller five-digit amounts).

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Who Skrill Services Are Available To

Skrill offers services for sixty different currencies across more than one-seventy countries.

The more global a money transfer operator becomes, the more reliable it is for people across the globe.

Skrill Country Restrictions

Skrill does not operate in the following countries :

  • Afghanistan
  • Aland Islands
  • American Samoa
  • Angola
  • Anguilla
  • Antarctica
  • Antigua and Barbuda
  • Barbados
  • Belize
  • Benin
  • Bhutan
  • Bonaire (including Sint Eustatius and Saba)
  • Bouvet Island
  • British Indian Ocean Territory
  • Burkina Faso
  • Burundi
  • Cape Verde
  • Central African Republic
  • Chad
  • Cocos (Keeling) Islands
  • Comoros
  • Congo
  • Democratic Republic of
  • Congo
  • Republic of
  • Cook Islands
  • Crimea
  • Cuba
  • Curacao
  • Djibouti
  • Equatorial Guinea
  • Eritrea
  • Faroe Islands
  • Fiji
  • French Guyana
  • French Polynesia
  • French Southern Territories
  • Gabon
  • Gambia
  • Greenland
  • Grenada
  • Guadeloupe
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Heard Island and Mcdonald Islands
  • Holy See (Vatican City State)
  • Iran
  • Iraq
  • Ivory Coast (Cote d'Ivoire)
  • Japan
  • Kiribati
  • Kosovo
  • Kyrgyzstan
  • Lao People’s Democratic Republic
  • Lebanon
  • Liberia
  • Libya
  • Macao
  • Mali
  • Marshall Islands
  • Martinique
  • Mauritania
  • Mayotte
  • Micronesia
  • Federated States of
  • Montserrat
  • Myanmar
  • Namibia
  • Nauru
  • New Caledonia
  • Niger
  • Niue
  • Norfolk Island
  • North Korea
  • Northern Mariana Islands
  • Palau
  • Palestinian Territory
  • Papua New Guinea
  • Reunion
  • Pitcairn
  • Rwanda
  • Saint Barthelemy
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Martin
  • Saint Pierre and Miquelon
  • Saint Vincent and the Grenadines
  • Sao Tome e Principe
  • Seychelles
  • Sierra Leone
  • Sint Maarten
  • Solomon Islands
  • Somalia
  • South Georgia and the South Sandwich Islands
  • Sudan (North and South)
  • Suriname
  • Svalbard and Jan Mayen
  • Syria
  • Tajikistan
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Vanuatu
  • Venezuela
  • Wallis and Futuna
  • Western Sahara
  • Western Samoa
  • Yemen
  • Zimbabwe
  • Crimea
  • Cuba
  • Iran
  • Libya
  • North Korea
  • South Sudan
  • Sudan
  • Syria

Certain countries are restricted because Skrill is not allowed to legally operate in those regions or it is not economically viable for Skrill to provide money services in these regions.

Skrill review
Skrill International Money Transfers

An International Transfer is when someone sends money from their account in one country to a bank account in another country.

Setting up your Skrill money transfer is quick and simple with the modern Skrill online platform.

Transferring money internationally used to be a tedious process 10 years ago but advances in software and the internet have made transferring money allot easier.

These days, you can send a money transfer with ease on the Skrill website.

The Skrill website includes useful and easy-to-access option for those who wish to track their money and monitor when it can be received, providing a safe and accessible option if you'd like to keep an eye on your transfer.

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Skrill Minimum Money Transfer

Several money transfer companies do not have a minimum money transfer amount. Making it easy for their users to send small amounts of money. Skrill has a minimum transfer amount of US$1.00 (varies based on certain currencies).

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Skrill Maximum Money Transfer

Money transfer companies often do not have maximum transfer limits. For example, Skrill does not have a maximum transfer limit when the user is paying through phone. There is however, a US$2,500.00 / day (weekly and monthly limites also apply) limit per transaction for online transfers.

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Skrill Money Transfer Fees and Charges

These are the fees charged by Skrill and other money transfer companies (or other financial corporations) for transferring money. Several companies however, do not charge their users for transferring money. The only charges there are to pay are currency conversion charges.

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How Long Does It Take to Get a Skrill Money Transfer

Skrill money transfers do not usually take very long. It normally takes less than 24 hours for a money transfer to complete between two accounts with the same financial corporation. While in the case of money transfers with money transfer services like Skrill, it can take a little as a few minutes. If the money is being sent overseas, it can take up to five days for the recipient to receive the money from Skrill.

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Skrill PLC Status

If a company has the acronym PLC at the end of its name, it means that the business offers its shares to the public and is traded on a public stock exchange. This alone makes the company more reputable. Skrill is not a publically listed company. Skrill is a privately owned company.

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Skrill Money Orders

The charges for issuing money orders with Skrill are none.

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Skrill Mobile Top Up

Skrill offers mobile top ups.Skrill mobile top ups are where a user can add credit to a recipient’s mobile phone number. The recipients number has to be local. These are normally processed within minutes, if not seconds.

Skrill COVID-19 Help

Some money transfer companies offer COVID-19 financial assistance. This may be in many forms including payment holidays, reduced interest rates and more options to pay. Check with Skrill directly to see what they are able to offer if you are adversely affected by COVID-19.

Who are Skrill Money Transfers Best For

There may be many reasons you are looking to action a money transfer with Skrill. These reasons can include debt consolidation, medical bills, student debt, collection agency debt, wedding costs, holidays, home repairs and repaying friends and family.

Skrill money transfers are best for people looking for looking for a reliable fast money transfer service.

Skrill Guide for Fast Money Transfer Approval

For Skrill to be able to process your money transfer application as quickly as possible make sure you have everything Skrill need. If you and Skrill need to go back and forth it may delay the Skrill application process. Make sure every piece of information you give Skrill is accurate.

Please note that you must have at least a minimum of one active bank account for Skrill to process your money transfer.

Skrill Application Time

Application time refers to the amount of time you have to wait for your Skrill registration to be approved. This should not take long, especially if you have nothing which should come up as red flag on the Skrill system.

Skrill Approval Time

It is the time it takes for Skrill money transfer operator to approve the money transfer being made. Depending on the situation this can take up to five days.

Skrill Funding Time

It is the amount of time it takes for the recipient to receive the money transfer. Once your Skrill money transfer has been approved the money should be in your account within four working days.

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Things to Check Before a Skrill Money Transfer

Why more features are useful for modern life’s and why new challenger banks are starting to beat traditional banks.

Here are a number of important things to consider before considering Skrill money transfer:

  1. Reliability and safety
  2. Making preparations before the transaction
  3. Convenience
  4. Transfer and conversion rates
  5. The quality of the customer service offered

Skrill review
Skrill Customer Support

Skrill support should be there to help customers with their issues which includes answering their queries, guiding them through and difficult processes and issues when transferring money. Skrill customer support should troubleshoot any issues with you until you get to a resolution that you are happy with.

When getting a Skrill money transfer you will want to speak to a Skrill representative in a language that you are comfortable with. All your Money Transfer queries and issues should be resolved quickly.

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Does Skrill Offer Live Chat?

Customers can reach out to Skrill through live chat to resolve Skrill money transfer account issues or difficulties with their Skrill account that they can't solve. Live chat, or live support is a real-time live chat feature used by customer support representitives allowing customers to instant message to and receive guidance from a trained agent regarding a your money transfer related query.

Skrill review
How does Skrill Compare with Other Money Transfer Companies?

When deciding upon a money transfer company like Skrill you will want to know how Skrill compares with other leading online money transfer companies. See how Skrill compares below.

  1. Visit Skrill alternative Neteller

    Used By: 500000
    Currencies Available: 28
    Transfer Fees: none
    Payment Methods: online banking account, debit, and credit card
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: none
    Max Transfer: up to 50000 USD/transaction
    Year Founded: 1996

  2. Visit Skrill alternative Scotiabank

    Used By: 25,000,000
    Currencies Available: 23
    Transfer Fees: none
    Payment Methods: Bank transfer, debit card, credit card, apple pay, google pay, Scotiabank Saddletone gift cards
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: none
    Max Transfer: 10000 USD
    Year Founded: 1832

  3. Visit Skrill alternative Xoom

    Used By: 250000000
    Currencies Available: 4
    Transfer Fees: 0$-40$
    Payment Methods: Bank transfer, debit/credit card, PayPal balance
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: US$10.00
    Max Transfer: 2999 USD/day, 6000 USD/month, 9999 USD/3 months
    Year Founded: 2001

  4. Visit Skrill alternative MoneyGram US

    Used By: 150000000
    Currencies Available: 46
    Transfer Fees: 0-1.99$
    Payment Methods: pay by card or directly from your bank account
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: none
    Max Transfer: 3000 USD
    Year Founded: 1940

  5. Visit Skrill alternative Moneycorp

    Used By: 15000000
    Currencies Available: 161
    Transfer Fees: none
    Payment Methods: debit card via our online platform or a wire transfer, cash
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: 50 USD/GBP/EUR
    Max Transfer: none
    Year Founded: 1962

  6. Visit Skrill alternative Currencies Direct

    Used By: 325,000
    Currencies Available: 22
    Transfer Fees: none
    Payment Methods: Bank transfer, debit card
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: none
    Max Transfer: 25000 GBP
    Year Founded: 1995

  7. Visit Skrill alternative OFX

    Used By: 1000000
    Currencies Available: 54
    Transfer Fees: 15 AUD below 10k AUD
    Payment Methods: ETF, BPAY (Australia), Direct debits
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: 1000 USD
    Max Transfer: none
    Year Founded: 1998

  8. Visit Skrill alternative CurrencyFair

    Used By: 150,000
    Currencies Available: 17
    Transfer Fees: 0.45%
    Payment Methods: Bank transfer, debit card
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: £5.00 (or equivalent)
    Max Transfer: £10,000,000.00 (or equivalent)
    Year Founded: 2009

  9. Visit Skrill alternative TransferGo

    Used By: 2,500,000
    Currencies Available: 39
    Transfer Fees: 0.5%-1.5%
    Payment Methods: Bank transfer, debit card, credit card
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: 1.5 GBP
    Max Transfer: 1000000 GBP
    Year Founded: 2012

  10. Visit Skrill alternative Western Union

    Used By: 15000000
    Currencies Available: 38
    Transfer Fees: up to 3%
    Payment Methods: Cash, bank transfer, debit card, credit card (varies from country)
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: $1.00
    Max Transfer: $10,000.00 (varies)
    Year Founded: 1851

Skrill review
Skrill Website and Mobile Apps

Skrill has a website available online but it may be useful to manage your Skrill account from your mobile device like your tablet or phone.

Skrill offers an Android mobile application on the Google Play store.

Skrill offers an Apple IOS mobile application for iPhones and iPads allowing Skrill to users to check their Skrill accounts on their iOS mobile devices.

Skrill review
Skrill Deposit and withdrawal Methods

Skrill offers the following Money Transfer payment methods: Cash, bank transfer, debit card, credit card, e-wallet, cryptocurrency (depending on country). All of significant bank systems are all acknowledged with Skrill.

Skrill offers ACH Payment which is used for direct deposit and debit transfers within the US. It is similar in nature to BACS (for the UK) and EFT (for Canada). Users can pay through bank transfer.

The recipient will receive the money in their bank account and can withdraw it using the method they prefer. They cannot, however, receive the money in the form of cash.

Take note that Skrill may charge additional commissions and fees when using certain payment and withdrawal methods. These fees may not necessarily come from Skrill.

Skrill review
Is My Money Safe With Skrill?

Skrill is a reliable, secure, and trusted option for sending money overseas. Skrill are registered and regulated with the Financial Conduct Authority (FCA).These regulatory licenses have strict rules that are enforced. These regulations safeguard the funds entrusted to them by Skrill customers.

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Skrill Financial Regulation and Safety of Skrill Funds

Every business that wants to send money across borders (in excess of €3 million per month) must be licenced under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011, both of which were created by the UK government but executed by the FCA for UK residents.

Consumer credit, in simple terms, is credit offered to individuals so they can purchase goods or cover personal expenses. It does not cover long term investments such as purchasing property. It allows for a properly managed economy to function and further encourages economic growth.

Firms like Skrill that offer money transfer to retail customers are legally considered to be offering consumer credit.

A financial regulator ensures that consumers are protected, there is fair competition in the money transfer industry and the integrity of the Financial services industry as a whole is maintained.

Getting a money transfer with a regulated company is essential as it offers an increased level of protection than a money transfer from an unregulated one. This is because regulators are able to enforce strict rules and stop unscrupulous money transfer operators.

Laws differ on who can and cannot offer consumer credit in each country. Credit firms have strict rules that they must follow in order that they are legally allowed to transfer money to consumers. These laws are in place to protect consumers becoming trapped in a money transfer they can never pay off.

Be sure that Skrill is fully licenced as a money transfer company.

Skrill review
Skrill Payment Services Regulations and Skrill

The Payment Services Regulations Directive, is run by the European Commission in order to govern payment services and their providers across the European Union as well as the European Economic Area.

One of its goals has been to make foreign currency transactions transparent, much like currency payments. This is to protect consumers and businesses from being swindled.

What is the Financial Conduct Authority?

The FCA is a control body meant to license money transfer companies. Companies such as banks, Forex brokers, and money transfer operators are monitored the most. This is because they deal in situations that involve many intricacies, such as transferring money and offering loans, etc.

All reputable money transfer businesses that operate within the United Kingdom by law have to be registered and authorised as a payment institution by the Financial Conduct Authority (FCA) to comply with the Payment Services Regulations that were introduced in 2017.

For UK clients, check the money transfer company is registered with the Financial services register. Skrill is regulated by the Financial Conduct Authority (FCA).

This makes sure that your Money Transfer agreement is above board and safe. In Addition, it Usually Means that Skrill Possess a responsibility of care to their clients.

Is Skrill Registered as a Money Service Business with HM Revenue & Customs

Financial institutions (which do not classify as banks) which convert and transmit money like Skrill are known as Money Service Businesses. While they provide services similar to banks, they are still not considered banks. They offer more varied product options to individuals looking to transmit or convert money.

Financial authorities tend to keep tabs on Skrill and other Money Service Businesses the most because the type of services they offer can leave them vulnerable to be used in financial crimes like money laundering. This is why it is crucial for them to be registered with the HM Revenue and Customs in the United Kingdom.

Skrill Segregation of Client Funds

Skrill as part of their regulation are required to segregate client funds from Skrill company funds and keep all client funds within a bank that is authorised as a credit institution by the regulator. All client funds should be kept in the most reputable third-party financial institutions such as Barclays or the Bank of America.

Skrill regulatory requirements mean that Skrill Money Transfer funds and your funds should be totally separate. Skrill cannot use any money that is still legally yours to conduct Skrill daily business like paying Skrill suppliers and costs. Your funds should be kept by Skrill in a segregated bank account.

Skrill Regulation Checklist

  • Check whether Skrill has authorisation to offer consumer credit
  • Check the type of activities that Skrill are allowed to conduct with their authorisation
  • Check the contact details, trading names and main business of Skrill list on their website and the regulator match.

Skrill Fraud Prevention Features

Fraud prevention is highly crucial when transferring money because once the money is gone, it’s gone. Scammers most often gravitate towards money transfers. Lack of fraud prevention procedures can lead to loss of funds, or even identity theft.

Skrill goes to great lengths to protect your Skrill account from fraudulent use. We explain some of Skrill anti-fraud features below:

  1. Skrill has SSL encryption that protects the customer’s private information.
  2. Skrill has cutting edge technology that monitors almost everything i.e. from logins to transactions.
  3. The Skrill platform has a bespoke monitoring system that helps to detect and prevents fraud.

Automated Transaction Confirmations

Having instant notifications turned on is not only convenient because the user is instantly alerted whenever there is a payment related activity on their Skrill account, as you are instantly aware of every Skrill transaction these notifications to your phone help you to keep tabs on any suspicious activity.

After conducting a transaction with Skrill, the Skrill accounts primary contact will receive a transaction confirmation confirming the transaction amount, rate exchange applied, and Skrill delivery instructions.

Skrill Monitors Your Account for Suspicious Transactions

Skrill has systems and controls in place to detect fraudulent activity and protect Skrill client accounts from misuse. If Skrill detect a questionable transaction on your Skrill account, Skrill will contact you to verify the transactions legitimacy to ensure your Skrill funds are safe.

How Does Skrill Make Money?

Skrill and other money transfer companies often charge their customers a certain amount of interest fees on every transaction made. The fees depend on the amount of money the customer wishes to transfer. Skrill also earn money via foreign exchange rates.

Money transfer companies like Skrill and banks need to survive, so they make money on interest from accounts and money transfers.

Skrill Frequently Asked Questions

We list some of the most frequently asked Skrill questions below.

Is there a limit to how much I can transfer with Skrill?

You can transfer up to US$2,500.00 / day (weekly and monthly limites also apply) at a time.

When will I receive my Skrill transfer?

It normally takes 3-5 business days.

Is it possible to cancel my Skrill transaction?

If you need to cancel your transaction due to any reason, kindly contact us on this number +44 20 3308 2520.

How old do you have to be to sign up to a Skrill account

To signup to a Skrill account you will need to be at least 18 years old.

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Is Skrill a Scam?

Skrill have been in operation since 2001 and have over 120,000 customers and 717 employees. Skrill is not a scam.

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Sending money online with Skrill

Sending money with Skrill is a single process once you have registered and verified your Skrill account and payment methods.

  1. Go to the Skrill website
  2. If you have a Skrill account you can log in, otherwise you will need to create a new account.
  3. Decide how much you would like to send and where you want to send it to.
  4. Enter all the required information about the beneficiary, this might include their name, address, bank account details, and other personal data.
  5. Tell Skrill how the beneficiary wants to get their money. Eg. through a bank transfer, cash pickup, or via some other means.
  6. Agree to the Skrill exchange rate and any fees.
  7. Pay for your Skrill transfer.
  8. Enter your information and provide and supporting documentation to verify your identity.

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How do I receive money from a Skrill money transfer?

Depending on where you are located, you have a few options for how you can receive any money that has been sent to your Skrill account. Your options for receiving money depend on the information entered by the sender, the country you are in, the currency you are receiving, and some other factors. Some methods of receiving money may not be available to you.

Receive Skrill money directly into a bank account

Bank transfers are useful because not only are they safe, but the whole process is quick, and they offer the kind of flexibility no other method can. Skrill allows for a deposit directly into your bank, credit union or other financial account.

Skrill Cash Pickup

Some money transfer companies have agents around the world, and you will need to take identity documents to receive cash. Money is typically available within ten minutes of being sent. Skrill allows you to pick up money in person at a Skrill agent location.

Skrill Smart Money and mobile wallets

A mobile wallet virtually stores cash card details on a smartphone. These are quite convenient as they allow for users to make purchases at physical stores without needing to carry money.

Skrill Does not support mobile wallets.

Skrill Home delivery

It is a way for an individual to receive money without having to leave home. What this means is that any money you send can be received in person at a designated home address. The money is delivered by a local agent. Skrill do not offer home delivery money transfers.

When was Skrill founded?

Skrill was founded in 2001.

Is Skrill Any Good?

Skrill have a rating of 3 and are financially regulated, Skrill can be considered a good money transfer company.

Is it easy to close my Skrill account?

It’s is easy to close you Skrill account. You will have to make sure any outstanding payments and fees due to Skrill are paid in full Before Skrill will fully close your account. Make sure when closing your account Skrill send you an official confirmation that your account is closed and no more monies are due to Skrill.

Does it take long to setup a Skrill account?

No, setting up a Skrill account can take a few minutes. You will need to provide some proof of identity and address. You should definitely be able to access all the features of your Skrill account in 1-3 days.

Where are Skrill based?

Skrill are based in London, UK

Countries where Skrill is legal?

Skrill is legally allowed to operate in over 28 countries.

How do I track a Skrill Money Transfer

You can track a Skrill money order by calling Skrill or by tracking the order online. Call Skrill number on +44 20 3308 2520. The Skrill automated phone system will take a few details and give you a status update. You can go online to the Skrill website and check the status of a money transfer at any time.

If you have a Skrill online account, log in and view your transaction history; If you do not have an online account, or if you are the receiver of the Skrill transaction, use the Skrill payment reference number on the Skrill website to check the status of the transfer.

Can I cancel my Skrill transfer?

The way that you cancel a Skrill transfer depends on how you created and sent the Skrill money transfer originally.

You may need to contact Skrill by phone on +44 20 3308 2520, through their website at transfers.skrill.com or via email [email protected] Requests are typically processed within 30 days, and you may be charged a cancellation fee by Skrill.

If you made the Skrill transfer online, then you should log in, find the transaction in your transaction history and then cancel it on the ‘Transaction Details’ page. If you do not have a Skrill account, use the ‘Track a Transfer’ tool to find the transaction and then cancel it on the Transaction Details page.

Double check the terms and conditions for cancelling a Skrill transfer on their website.