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Skrill
Fastest Transfer Speed
24 hours
Minimum Transfer Amount
$60
Maximum Transfer Amount
$1,000

Summary

Skrill's money transfer service offers transfers to many popular destinations, but keep an eye out for bad reviews.

  • Receiving money is free with Skrill.
  • Transfers may not use the mid-market rate.

Pros

  • Diverse sending options.
  • Receiving money is free.
  • Skrill card.

In this guide

  • Review
  • Your reviews
  • Ask a question

Our Verdict

There’s not that much going for Skrill until you become a True or VIP Skriller – Skrill’s top two tiers. Until then, you’ll be charged for moving money from your Skrill account to a bank account, paying an application fee for the physical prepaid card and a fee every time you withdraw cash. Once verified, some fees are waived and you’ll also have access to other perks.

Sadly, Skrill adds a hefty markup of up to 3.99% when converting your dollars for overseas transfers. On top of this, US customers have no access to instant transfer support so check the rates and fees carefully before going ahead. Inactivity can also cost you $5 every month but avoid this by making at least one transaction every 12 months. Finally, a host of bad reviews might make you look elsewhere.

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?

  • Diverse sending options. Send through both Skrill money transfer and Skrill-to-Skrill to reach a global network.
  • Receiving money is free. Recipients never pay fees to receive money.
  • Skrill card. Withdraw cash at ATMs and pay online and in-store with your Skrill balance.

What should I watch out for with Skrill?

  • US customers lack options. US residents don’t have as many options through Skrill as their foreign counterparts — no cryptocurrency or instant transfer support.
  • Doesn’t use the mid-market rate. Skrill reserves the right to add a margin markup on top of the mid-market rate. Be sure to double check fees and exchange rates before sending your transfer.
  • Limited currency and country support. When sending money transfers through Skrill from the US, your international options are mostly limited to countries that support the Euro.
  • Negative reviews. Nearly 20% of Trustpilot reviews for Skrill were Bad when we checked.

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.

Skrill reviews

What Skrill’s reviews look like, accurate as of October 8, 2020.

Trustpilot4.4 out of 5 — based on 14,519 customer reviews
BBB ratingB — based on BBB’s internal rating system
Monito8.3 out of 10 — based on staff reviews

When we checked, 19% 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.

Skrill fees and exchange rates explained

US residents will pay less in fees than many other countries Skrill operates in. In short, US residents will only face one fee when sending money abroad through Skrill.

  • Deposit funds: Free
  • Withdraw funds: Free
  • Send money, receive money: Both free
  • Currency conversion: 3.99% above the mid-market rate, or higher. This fee is applied without notice to you, which means that although it may appear you are getting the mid-market rate for your transfer, you probably aren’t.

One additional fee to watch out for when opening a Skrill account is the Stay Active Fee. If you don’t login and make at least one transaction every 12 months you’ll face a €5 (or equivalent) fee every month until you start using your account again.

Skrill limits

Skrill limits US customers based on the status of your account, selected payment method and the country you’re sending to. It is unclear whether Skrill will allow you to raise these limits, as Skrill reserves the right to vary transaction limits at its discretion.

Standard Skrill limits for US customers are:

LimitsACHCredit card
Per transaction$1,000$2,500
Daily$2,500$2,500
Weekly$3,500$5,000
Monthly$4,500$10,000

What types of transfers does Skrill support?

Whether you are trying to deposit money into your account or withdraw money after receiving it, Skrill has a few options for you to choose from.

Depositing funds

Skill allows deposits in the following ways:

  • ACH transfer (Automated Clearing House)
  • Bank account wire transfer
  • Mastercard or Visa credit card
  • Paysafe card

There are no Skrill fees for US residents to deposit funds, but your credit card or bank account may charge its own fees.

Withdrawing funds

There is only one way for US residents to withdraw funds:

  • Bank account via wire transfer

Because Skrill relies on wire transfers instead of ACH transfer for withdrawing, be aware that your bank may charge an incoming wire transfer fee. Contact your bank directly to find out if this fee will apply to you.

How do I send money through Skrill?

To send money through Skrill you will need to sign up for a free Skrill account. To do this, you’ll need to provide:

  • Your full name and personal contact information, including your phone number and email address
  • Your Social Security Number or photo ID and proof of residence

The steps to send money through Skrill are:

  1. Confirm your email address and identity by entering your Social Security Number
  2. Enter banking or credit card information
  3. Enter recipient information and transfer details
  4. Confirm all fees and details, then pay for your transfer.
  5. Track the progress of your initial deposit and any money transfers through your Skrill account

Your recipient will typically receive the funds in 2 to 5 business days.

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 Visa card. 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 September 30, 2020
Google Play Store3.7 out of 5, based on 91,041 customer reviews
Apple App Store4.5 out of 5, based on 4,178 customer reviews

More on the best money transfer apps

What else can I use Skrill for?

Skrill offers both personal and business services. Skrill’s business services include merchant accounts that can:

  • Accept credit card payments
  • Handle international transactions
  • Create payment corridors in local currencies worldwide

Read our Skrill business e-commerce review for more details on what this service can and cannot do.

How does Skrill compare to other money transfer services?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
1 - 14 of 14
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Airwallex
Airwallex
Within minutes
$0
After spending $15k in your first 90 days, receive a one-time $500 bonus that will automatically be credited to your account on any FX conversion.
Airwallex can help you make business payments to 150+ countries in 60+ currencies.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Western Union
Within minutes
From $0
Enjoy $0 fee on your first online transfer. Western Union makes money from currency exchange. Not valid on credit cards or sends to Cuba.
Western Union sends money online to friends and family in 200+ countries and territories around the world.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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Bottom line

Skrill’s introduction of international money transfers through its service to the US market has certainly extended its global reach. As Skrill continues to expand into the US, 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.

Frequently asked questions

What’s the difference between Skrill and PayPal?

Skrill and PayPal are both large e-commerce focused payment services. There are many differences between the platforms, including:

  • How much you’ll pay
  • Countries you can use it in
  • Currencies you can send to or receive
  • What you can use it for
  • Buyer protections
  • Cashback and loyalty programs

To learn more about PayPal and decide for yourself which option is the better choice, read our PayPal review.

How to cancel a Skrill transfer

You will only be able to cancel a Skrill transaction if it hasn’t processed yet. If the status of the transaction is marked as pending, then follow these steps to cancel:

  1. Under the Transactions section of your account, tap the pending transaction you want to cancel.
  2. Tap Cancel Transaction on the popup window.
  3. Confirm the cancellation by tapping Yes, Cancel.

Funds should automatically be returned to your account after you successfully cancel the transaction.

How do I delete/close my Skrill account?

Follow these steps to close your Skrill account for free:

  1. Log in to your account and withdraw all of your funds.
  2. Go to Settings.
  3. Navigate to Account Settings and tap Close Account.

Note: Any funds not withdrawn before closing your account will be forfeited to Skrill.

How do I contact Skrill customer service?

Skrill customer service can be reached through email: help@skrill.com

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