Skrill is one of the most popular international companies that provides e-wallet services but also deals with global money transfers. Over the years, this company has managed to stay at the very top of the industry that deals with these types of services, despite the occasional problems with its customers, primarily due to the somewhat rigid business policies and sometimes high service fees.
In this review, we’ll try to your question of whether Skrill is really one of the best companies providing e-wallet services, how to register, what their transaction fees are, and how long it takes to complete your transactions through this money transfer service.
Briefly About the Company
Skrill was initially designed as a service used to save and transfer money to online sportsbooks and online casinos and operated under the name Moneybookers at the time. A few years ago, the company entered the rebranding process and changed its entire visual identity and its name. It operates under the name Skrill since 2013. Currently, in addition to the e-wallet, it has money transfer services (sending and receiving), an option to order a debit payment card, and many other exciting services.
The main advantage of Skrill compared to the competition is definitely the user-friendly website, as well as the possibility to pay for numerous services and goods via the internet because many online shops accept Skrill as a payment method. Moreover, the large number of online shops that accept Skrill is why this company is currently more popular than its big competitor PayPal.
Unlike PayPal, Skrill still allows users to make and receive payments from sportsbooks and casinos, as well as to do business with some countries that aren’t exactly known for their internet security. This, of course, doesn’t mean that doing business via Skrill isn’t safe. On the contrary, this company has high standards regarding the security of its users and their personal information.
Step by Step to Registration
If you decide to register with Skrill, it won’t take you more than ten minutes, even if you’re a complete beginner when it comes to registration on internet services. To access the Skrill website, you need to go to the Home page, which can be done via this link. When you get to the Home page, click the ‘REGISTER’ button in the upper right corner of your browser.
Then the registration window will open. In the first step, you must enter your personal e-mail address and select the password you’ll use on the Skrill website. In the next step, you need to enter the user’s personal information (first name, last name, and date of birth). Then you can go to the third step, where you need to fill in your country of residence, as well as the preferred currency that you’ll use in your Skrill account.
Note: Once you select the currency of your account, you won’t be able to change it later. We recommend choosing the currency you think you’ll use the most when making transactions online.
After selecting the country and currency, you’ll need to enter additional personal information related to your place of residence, city, and postal code. Here it’s also important to enter valid data because otherwise, you won’t be able to verify your Skrill account later. The final registration step requires you to enter a valid phone number, check the Captcha and check the field with the terms and conditions of using this service. After that, expect the confirmation e-mail that will be sent to your e-mail address, which you should open and click the link that Skrill sent to you. That way, you’ll verify your e-mail address and become a registered Skrill user.
After successfully registering, you need to add or link your payment card or bank account with the Skrill account. There are three ways to do this:
Payment via bank transfer – which you make directly from your foreign currency account to Skrill. This type of deposit usually takes from two to five business days.
Deposit via a payment card (credit or debit) – is the most efficient and easiest way to transfer money to Skrill. Skrill accepts almost all types of payment cards. The only important thing is that the card is in your name. The deposit is processed instantly, and the payouts are expected within two to five business days.
Since depositing via payment cards is the fastest and most efficient for all users, we’ll briefly describe what’s necessary to verify your payment card. You need to select the ‘CARDS AND BANK ACCOUNTS’ option and then the ‘ADD CREDIT OR DEBIT CARD’ option. In the newly opened window, you have to enter the card number, year and month of expiration, and the 3-digit (CCV2) security code which can be found on the back of your payment card. After that, you need to deposit the money to Skrill, and the verification process is completed.
The last step you need to do is to verify the account itself, which is mandatory, and which is performed by proving and confirming your identity. That can be done by sending a scanned personal document with a photo and one utility bill (electricity, water, phone) on which your name and housing address are visible.
Sportsbooks and Skrill
Since this service was primarily intended to help players deposit and withdraw their funds from online sportsbooks and casinos, it’s pretty understandable that Skrill is one of the most common payment methods in the betting industry. There are no reputable sportsbooks or casinos that don’t accept Skrill as a payment method, which speaks enough about the seriousness of this company.
What is especially interesting is that some particular sportsbooks and casinos encourage their players to make payments via Skrill by providing exclusive bonuses to players who choose this deposit method. The sportsbooks that currently have active promotions of this type are, among others, William Hill, Bet-at-Home, 22Bet, Matchbook, 888casino, and many others.
As you can see, Skrill is a very gambling-friendly company that works closely with many sportsbooks and casinos, and this is definitely another factor when choosing Skrill as the primary deposit method.
Safety and Security
One of the things that Skrill can be proud of is its security measures and protocols. We can freely say that Skrill protects your personal and financial data as a Swiss bank because they have the latest generation of SSL encryption and a team of security experts who work 24/7, check all the transactions, and make sure that there are no fraudulent actions.
Security is one of the main reasons for the popularity of Skrill among the players who prefer to engage in online sports betting and visit online casinos because their money is much safer on Skrill than, say, on payment cards. This is because, through Skrill, you deposit your money without leaving your payment card data on any site, thereby opening up the opportunity for someone to scam you.
What can be held against Skrill is transaction fees that can be somewhat too high. If you decide to deposit money to Skrill via your payment card, you will be charged a 1.9% fee if you use VISA or MasterCard. If you choose to make a direct money transfer (which takes much longer), there is no deposit fee. If you want to withdraw your funds from the account to your payment card, the transaction fee is around 4 Euros if you withdraw to a VISA card and 5.5 Euros if you withdraw to any other payment card. If you want to send money to someone with a Skrill account, you’ll have to pay a 1.9% fee, while receiving money is completely free. As you can see, quality comes at a specific price, but we believe that this price is worth it when it comes to Skrill.
There are not much safer and faster ways to make deposits and request payouts from sportsbooks and casinos. Skrill has been one of the world market leaders for many years, and we believe it’s well justified. As advantages of this service, we can point out the security of users, friendly customer support, and user-friendliness, as well as bonuses that you can get from sportsbooks and casinos if you decide to deposit via Skrill. As for the negative sides, transaction fees could be lower, and the verification process can sometimes be arduous and tedious. All in all, Skrill has our honest recommendation as perhaps the best online payment and money transfer system.