Skrill online money transfer review October 2018 | finder.com

Review: Skrill online payments and money transfers – October 2018

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This convenient, easy payment service comes with high fees for sending and withdrawing money.

To transfer money with this e-commerce site, you create a free Skrill account and deposit funds into your Skrill wallet using a wire transfer or credit or debit card. You can withdraw your funds to a bank account or send money to other Skrill users’ wallets. Skrill can convert your money to 40 currencies and offers a high maximum transfer amount.

Product NameSkrill
Max. Transfer AmountNo limit
Transfer Methods
Online,
Transfer Options
Regular payments, One off payments
Customer Service
Phone, Email
Available CurrenciesUSD

Send money to your friend’s digital wallet account

Skrill is a safe, convenient e-commerce and money transfer service. Like PayPal and Circle, Skrill’s platform is designed to be easy to understand by people new to money transfers and digital wallets.

Send money to domestic users or convert money to over 40 currencies globally from your online account or the Skrill mobile app. If you need help with your transfer, contact customer service with their 24/7 helpline or check out the interactive FAQ online. But be aware of the many fees.

Highlights

  • Don’t have your friend’s bank account details? Easily send money with just their email address.
  • Pay for your goods online without pulling out your wallet with any e-retailer that offers Skrill at checkout.

How much will I pay to send money with Skrill?

In addition to Skrill’s currency conversion fee, you’ll pay a transfer fee that’s equal to 1.9% of your total transaction amount, capped at $20. Skrill automatically deducts these fees from the amount your friend or family member receives on the their end. You’ll also pay to withdraw money from your account.

  • 1.9% transaction fee
  • 3.99% currency conversion fee
  • up to 7.5% withdraw fee (varies by payment method)

For example, if you’re transferring $1,000 from your Skrill account to a friend in the UK, Skrill will deduct a transaction fee of 1.9% ($19), along with a 3.99% ($39.90) currency conversion fee. Your friend will receive $941.10.

There are also fees for loading funds to your Skrill account. The price depends on the method you use:

  • Bank transfer: Free
  • ACH: 6%
  • Credit card: 2.9%
  • PaySafe card: 7.5%

Exchange rates

Skrill’s exchange rates can be higher than competing services. It adds 3.99% to what it calls “Skrill’s wholesale exchange rate.” For comparison, TransferWise offers the mid-market rate for most international transfers, and PayPal typically charges fees of up to 2.5% above mid-market rate.

What types of transfers does Skrill support?

Skrill offers one-off transfers. You have options for loading the funds to your Skrill wallet and withdrawing the money, including:

  • Upload methods. Load your Skrill wallet with funds directly from your bank account, a credit or debit card, a SWIFT account or another digital wallet.
  • Withdraw methods. Your recipient can withdraw funds from a Skrill wallet to a bank account via wire transfer, a credit card balance or SWIFT account, depending on their location.

Minimum and maximum transfer amounts

Skrill does not have a minimum transfer amount. Maximum transfer amounts can vary between $135 and $25,000 a month, depending on the verification of your account. You can usually verify your account instantly with your Social Security Number.

Pros and cons

Pros

  • Intuitive system. Skrill is a simple platform that’s easy for people new to money transfers.
  • Services many countries. Though it’s not available in all countries, Skrill offers its transfers worldwide.
  • High limits. With no transfer minimum and up to a $25,000 maximum, few can beat the range of freedom offered by Skrill.

Cons

  • High fees. Convenience comes at a price, with lots of fees, including a currency conversion fee of 3.99%, which is higher than many other online transfer services.
  • Potential inactivity fee. If you don’t use or log in to Skrill at least annually, you’ll be charged a monthly 2 euro (roughly $2) fee until you do so.
  • Requires government-issued ID. This requirement could deter users without one.

How do I send money through Skrill?

Sending money through Skrill is fast and easy. You will first need to sign up for a free Skrill account before loading funds into your wallet. To sign up for an account, you will 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.

You can start transfers after you’ve created your account.

  1. Confirm your email address and identity by entering your Social Security Number.
  2. Enter banking or credit card information.
  3. Deposit funds into your Skrill account.
  4. Track the progress of your initial deposit and any money transfers through your Skrill account.

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

Bottom line

While Skrill offers an easy-to-use platform, you may find that the high fees outweigh Skrill’s benefits. In that case, you’ll want to compare the fees, rates and transfer options of other money transfer specialists to find one that suits your needs.

See how other services compare to Skrill

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$0 3 - 5 days USD 0.00 0.86 EUR 4,300 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1,000 1 day USD 0.00 0.86 EUR 4,298 Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for 100+ currencies.
Go to site Show details
USD 1 Within an hour USD 3.99 0.86 EUR 4,295 Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
USD 1 3 - 5 days USD 50.00 0.867 EUR
4,294
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
GBP 5,000 1 - 2 days USD 0.00 0.859 EUR 4,294 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

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35 Responses

  1. Default Gravatar
    AbhishekOctober 15, 2018

    Please can i know, example if i want to deposit 100$ in my skrill account from my visa card how much dollar will be charged for that.

    • finder Customer Care
      johnbasanesOctober 16, 2018Staff

      Hi Abhishek,

      Thank you for leaving a question

      If you are loading $100 into your Skrill account via your visa card, assuming your Visa card is a credit card then there is a 2.9% transaction fee which would now leave us with $97.10 as the total amount transferred. Hope this helps!

      Cheers,
      Reggie

  2. Default Gravatar
    MaricelOctober 10, 2018

    I tried to sign up on skrill, upon activation they asked for a goverment issued id so i submitted my SSS id since i don’t renew my passport yet. Problem is they don’t accept my SSS id to verify my account. I requested a withdrawal from my poker online to skrill, can i still withdraw my money even i don’t have a verified account on skrill?

    • finder Customer Care
      JoshuaOctober 14, 2018Staff

      Hi Maricel,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      According to Skrill’s website, you can withdraw your Skrill money anytime. However, you may be required to confirm your identity beforehand. For this reason, as long as you haven’t verified your identity, you would have limited use of your account.

      Sometimes, it is not the document that causes the rejection of the verification process. It could also be the way you scan or take an image of your SSS ID. You might want to try taking clearer pictures that show pertinent information. If that still won’t work, get in touch with Skrill.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  3. Default Gravatar
    GoodnessOctober 9, 2018

    You wrote 5 million words about skrill fees yet I found difficult to locate where you stated their verification duration, anyway I supplied all their verifications necessary
    requirement documents it’s almost a week now my account is not verified what should I do?

    • finder Customer Care
      JoshuaOctober 10, 2018Staff

      Hi Goodness,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Skrill account verification happens almost instantly. It will take you no more than 5 minutes provided you have given all the necessary requirements which include National ID Card/Driving License and a utility bill (issued within the last 90 days).

      What you can do is check to check whether your account is verified or not. To check your account verification status, log into your Skrill account and go to “Limits & Verification” in the “Settings” tab.

      Now, if your account isn’t verified yet, you may want to try again. There could be some technical problems that happened when you did your verification.

      If nothing else happened, please directly get in touch with Skrill.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  4. Default Gravatar
    CrispinOctober 8, 2018

    can i make a quick deposit of my money into my Iq trading account using skrill? and how long can it take for the money to reach the account?

    • finder Customer Care
      JoshuaOctober 10, 2018Staff

      Hi Crispin,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Yes, you can deposit money to your IQ trading account using Skrill. There are no extra fees as well. All you need to do is open the menu found on your dashboard. Select “deposit,” pick your payment method, and specify the amount you want to deposit. The deposit should be completed within 24 hours.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  5. Default Gravatar
    MarkOctober 5, 2018

    Hi. I would like to ask what is the maximum withdrawal limit of skrill to bank and skrill to visa?
    Thank you.

    • finder Customer Care
      JoshuaOctober 8, 2018Staff

      Hi Mark,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      According to our page, there’s no maximum withdrawal limit for Skrill whether it will be sent to a bank or another Skrill account.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  6. Default Gravatar
    M.October 1, 2018

    I Don’t have any bank account, visa / master card then how can i deposit cash in my skrill account from Pakistan

    • finder Customer Care
      CharisseOctober 1, 2018Staff

      Hi M. Fareed,

      Thanks for reaching out to finder.

      As of this time, Skrill only supports two options for depositing funds into your account and that is through bank deposits and credit/debit card deposits. If you want to be able to use Skrill, you have to open a bank account with a debit card or apply for a credit card.

      I hope this helps.

      Cheers,
      Charisse

  7. Default Gravatar
    swaroopaSeptember 12, 2018

    why this skrill amount is not able to pay IQ options for trading purpose

    • finder Customer Care
      JoshuaSeptember 13, 2018Staff

      Hi Swaroopa,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Upon checking, I found out that Skrill is one of the options that you can use when depositing money iq option. Now, if this option isn’t available, there might be some reasons for it. First, it could be that your current location isn’t supported by iq option and Skrill. Second, you might have insufficient fund.

      I may not know your complete situation and so, I’m limited to what I can tell you. However, I also suggest you directly get in touch with the customer service department of iq option to learn more.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  8. Default Gravatar
    MarkSeptember 11, 2018

    Another question. If possible can you provide list of banks that provides smooth transactions uploading or withdrawing funds thru skrill?

    Thank you.

    • finder Customer Care
      JoshuaSeptember 12, 2018Staff

      Hi Kendacie,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      As of now, we don’t have a list of banks that are compatible with Skrill. However, in general, most bank accounts should be able to work with Skrill. Thankfully, you can review your transaction before completing it and so, it should give you the opportunity to know whether a bank account is accepted by Skrill or not.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  9. Default Gravatar
    MarkSeptember 11, 2018

    Hello.

    Just want to ask if what does it mean to transfer from skrill to swift account? Does it mean thru my personal bank account? And how long does it take? Also how much is the fee?

    Thank you.

    • finder Customer Care
      CharisseSeptember 11, 2018Staff

      Hi Mark,

      Thank you for reaching out to finder.

      Transferring from Skrill to a swift account is the same as doing a bank wire transfer. When you transfer money to another bank account from the bank account linked to your Skrill account, it will ask for a SWIFT code.

      Local and international bank transfers will take take 2 to 5 business days excluding weekends and national holidays.

      The transfer fee for sending money to bank accounts is 1.9% of the total transaction amount with maximum transfer fee of $20. There may also be a currency conversion fee of 3.99% if you transfer an amount in a currency different from the denominated currency in your Skrill account.

      You can visit Skrill website for more information about their fees and services.

      Hope this helps.

      Cheers,
      Charisse

  10. Default Gravatar
    MfundoSeptember 10, 2018

    Will receive my money in my bank account if I sent it with skrill and didn’t verify my documents ,I used my bank account number

    • finder Customer Care
      JoshuaSeptember 10, 2018Staff

      Hi Mfundo,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Generally, you can still send money using Skrill without verifying your identification. However, you will have a lower money transfer limit. If you wish to increase how much money you can send, you can verify your account instantly with your Social Security Number. You can increase your maximum transfer amounts as high as $25,000 a month, depending on the verification of your account.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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