Review: Skrill online payments and money transfers March 2023

This easy and convenient service is free for international money transfer. However, there are a few things you need to pay attention before you decide to go for it.

What is Skrill?

Skrill, formerly known as Moneybookers, is an online e-commerce service that lets you send money both domestically and internationally between a variety of currencies. Money sent through Skrill can be delivered directly to bank accounts or held in a third party mobile wallet, depending on what the customer wants.

Why should I consider Skrill?

  • Free money transfer. No fee when you use Skrill Money Transfer to send money to an international bank account. Recipients never pay fees to receive money.
  • Cryptocurrency. You may trade some major cryptocurrencies using Skrill as a HK user but you’ll need to buy with USD.
  • Intuitive system. Skrill is a simple platform that’s easy to use for people new to money transfers.
  • No minimum transfer limit. This makes Skrill handy for smaller transfers.
  • Daily exchange rate alerts. You can sign up for daily alerts on Skrill’s FX rate.

What should I watch out for with Skrill?

  • Doesn’t use the mid-market rate. Skrill reserves the right to add a margin markup on top of the mid-market rate up to 4.99%. Be sure to double check fees and exchange rates before sending your transfer.
  • Limited currency and country support. For example, you can’t use Skrill to send money to Singapore, Japan or New Zealand. Your international options are mostly limited to countries that support the Euro.
  • Cannot use Skrill wallet balance. You are not able to pay for your transfer using your existing Skrill wallet balance.
  • Potential inactivity fee. If you don’t use or log in to Skrill at least once every 6 months, you’ll be charged a monthly €5 fee (or equivalent in your local currency) until you do so.
  • Poor reviews. 20% of reviews for Skrill were Bad on TrustPilot when we checked. It has an overall score of 3.9 / 5.0.

How does Skrill work?

Skrill is a convenient ecommerce and money transfer service. Like PayPal, Skrill’s platform is designed to be easily understood by people new to money transfers and digital wallets.

If you need help with your transfer, you can contact customer service using their 24/7 helpline or check out the interactive FAQ online. Just be aware of the many fees.


  • Don’t have your friend’s bank account details? Easily send money using just their email address.
  • Pay for your goods online – without pulling out your wallet – with any retailer that offers Skrill at the checkout.
  • Earn referral credits through the Skrill Money Transfer Refer-a-Friend programme.
  • Buy and sell cryptocurrencies using your Skrill wallet.

What types of transfers does Skrill support?

Skrill mainly supports bank account money transfers, although in certain countries you can transfer to a mobile wallet.

How you pay for your transfer will depend on which country you are sending from. If you are sending from Hong Kong then you can only pay by either credit card or debit card. Just remember, you will be charged a fee of 1.99% for using your credit card (e.g. For a transfer of HKD$1000, the fee is HK$19.90).

Send money to Ukraine

You can now send money to Ukraine for your recipient in USD or UAH to a Mastercard with no fee (for both credit card and debit card payment).

Recipients in most supported countries can only receive the money via bank transfer, though the countries below can also receive the money in an alternative method:

  • Kenya (M-Pesa)
  • The Philippines (GCASH)
  • Nepal (eSewa)
  • Sri Lanka (eZ Cash)

It’s also important to note that you cannot use your existing Skrill wallet balance for a Skrill money transfer.

Skrill fees and exchange rates explained

Most other transfers come with a fee, although there’s no cost to receive money. When making a money transfer, here are some of the fees you can expect to pay.

    • Open an account: free
    • International money transfer: free
    • Send money by credit card: 1.99%
    • Send money by debit card: free
    • International transfer exchange rate markup: up to 4.99% per transaction
    • Inactivity fee: EUR 5.00/month if you don’t make a transaction at least every 6 months
  • Sending money to other Skrill account holders (Skrill to Skrill). 2.99%

Exchange rates

Skrill’s exchange rates can be higher than competing services. It adds up to 4.99% as what it calls an “international transfer exchange rate mark-up”. For comparison, Wise offers the mid-market rate for all international transfers and PayPal typically charges fees of up to 2.5% above the mid-market rate.

Minimum and maximum transfer amounts

Skrill does not have a minimum transfer amount.

Maximum transfer limits do apply but vary depending on the verification status of your Skrill account, your selected payment method, your country of residence and which country your recipient is in.

How do I send money with Skrill

Sending money through Skrill is fast and easy. You will first need to sign up for a free Skrill account. To sign up for an account, you will need to provide:

  • Your full name and personal contact information, including your phone number and email address.
  • Photo ID like HKID and proof of residence.

Once your account has been created you can start making transfers by completing the following steps:

Calculate what your transfer could look like with Skrill

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 60 1 day HKD 0.00 0.189 AUD
Skrill能令你輕鬆匯款至多個熱門目的地,可是要留意其加上的手續費。 Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees. Go to site Show details
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Is Skrill safe?

Skrill is licensed and regulated by many different countries and federal organizations, including the Electronic Money Regulations 2011, the Financial Conduct Authority and in nearly all US states that regulate money transfers. Specific features of these regulations require Skrill to:

  • Maintain set amounts of capital and liquidity. Skrill is required to maintain a minimum of €350,000 of its own funds at all times.
  • Practice safe float management. In order to protect customers’ money, Skrill must follow EU Electronic Money Directive protocols to protect customers in the event that the company encounters an insolvency event. In short, this means your money is protected even if Skrill goes bankrupt.
  • Pass FCA vetting The Financial Conduct Authority performs a test on each member of Skrill Limited senior management to test for honesty, integrity, reputation, competence, financial soundness and capability.
  • Monitor and vet all transactions. To prevent financial crime, Skrill must follow legal requirements to check the identity of customers and monitor transactions to detect money laundering and fraud.

However, last time when we checked on 6 July, 2022, Skrill was not on the Hong Kong Customs and Excise Department’s Money Service Operators licensee list.

Skrill reviews

What Skrill’s reviews look like, accurate as of 6 July, 2022.

Trustpilot3.9 out of 5 — based on 20,460 customer reviews
BBB ratingB — based on BBB’s internal rating system
Monito8.4 out of 10 — based on staff reviews

When we checked, 20% of Skrill’s reviews on Trustpilot were Bad, which is Trustpilot’s name for 1-star reviews. This is something to keep in mind before using the service. A lot of the Bad reviews focus on customers losing money during transfers, and customers having to pay high fees to withdraw money from their accounts. Be sure to read up on Skrill’s fees and exchange rates before sending a transfer to make sure you understand exactly what you’ll be paying and when fees will be charged.

Is there a Skrill app?

Skrill app screenshot

Yes, Skrill has an app on both Google Play and the App Store. The app makes it possible to:

  • Manage your Skrill account. Check your balance and add more money to your account on the go.
  • Log in using biometrics. Both face and fingerprint recognition can be used to log in.
  • Check exchange rates on the go. Current currency exchange rates and fees can be found in the app.
  • Send and receive money. Transfer money to friends and family with just a few taps.
  • Track your transfer. Real-time notifications on your transaction are available through the Skrill mobile app.
Reviews accurate as of 06 July, 2022
Google Play Store4.3 out of 5, based on 154,079 customer reviews
Apple App Store4.5 out of 5, based on 9,106 customer reviews

More on the best money transfer apps

How does Skrill compare to other money transfer services?

Enter the amount you want to send and select the destination country, then click Calculate to quickly see what your transfer could look like with our partners.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 60 1 day HKD 0.00 0.102 GBP
Skrill能令你輕鬆匯款至多個熱門目的地,可是要留意其加上的手續費。 Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees. Go to site Show details
SGD 1 1 day HKD 50.00 0.103 GBP
你首兩次港幣$15,000或以下的匯款,手續費全免。Pay no fees on your first two transfers, up to HK$15,000.
象徵式收費以及中間價匯率,可匯款至高達30多個國家。 SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
USD 10 1 - 2 days HKD 25.00 0.102 GBP
新客戶可享有首三個月無限次免手續費匯款。New customers get 3 months of unlimited free transfers.
可用15+種貨幣匯款,享有超越銀行的匯率以及快速轉賬時間。 CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
USD 10 Within an hour HKD 90.00 0.103 GBP
以透明的匯率,低收費及低最低金額的網上服務作匯款。 Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
USD 50 Within an hour HKD 35.00 0.103 GBP
使用優惠碼「FINDER」可於首兩宗HK$1500或以上的轉賬交易獲得HK$100折扣優惠。Use code FINDER to get HKD 100 off on first two transfers on a min transfer of HKD 1500.
InstaReM 提供簡單的匯款服務,大部分的匯款劃一收取0.5%的手續費。InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
USD 2,000 1 day HKD 0.00 0.101 GBP
TorFX保證提供最佳的匯率。需受條款約束。TorFX guarantees to match any competitor's exchange rate.
以30種貨幣匯款到全球。登記後,將會有一個客戶經理提供支持和引導。 TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
GBP 5,000 1 - 2 days HKD 0.00 0.101 GBP
可匯款至20+個國家,無手續費。 CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Bottom line

Skrill’s introduction of international money transfers has certainly extended its global reach. As Skrill continues to expands, expect more countries and currencies to become available for international transfers. If the country you want to send to isn’t supported by Skrill, head over to our international money transfers guide to find a money transfer service that works for you.


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