Skrill – General Review
Skrill – what is Skrill?
Skrill, previously known as ‘Moneybookers,’ is an online platform that allows its users to do business dealings, make payments, and transfer funds online. The company is one of the oldest in the market, with a history of over 15 years. In August 2013, the company was acquired by corporate venture capitalist PaySafe Group for 800 million USD. Hence, now both Neteller and Skrill are owned by the same group of companies.
Skrill is an e-wallet service established in 2001 in the United Kingdom and is now operant in over 120 countries, with digital wallet currencies being available in 40 currencies. By 2007, the company had acquired the name of the third-largest e-payment solution service in Europe.
Customers have the option of adding funds to their e-wallet through debit cards, credit cards, bank transfers, and other payment methods like Neteller. The majority of poker sites, sportsbooks, casino operators, and forex suppliers accept Skrill as a payment provider.
Skrill is also one of the most frequently used ewallets among VIP players due to their excellent VIP offers.
How to register an account
Registering for a Skrill account is a free of cost process, and all you need is a working email address and phone number by following the listed steps:
- Log onto the official Skrill website: Skrill and click on the ‘Registration’ tab.
- Select your country of residence and fill in the form of personal information that shows up.
- You’ll be asked to enter your first name, last name, the currency of your choice (make sure to opt for the currency that you make most of your payments in, or you’ll have to pay extra charges for currency exchange)
- Next, you’ll be asked to enter your email address. Users need to make sure that this email address is operant, as they’ll be asked to verify that it’s yours.
- The users will be asked to choose a strong password that’s made of 8 or more than eight characters, has one capital character, one numerical digit, and one unique character to ensure safety.
- After clicking Register, users will be presented with another form that asks them to input further personal details, including their house address; which is mandatory and needs to be filled with the user’s original residential address, the city that they’re residing in, the city’s postal code, the user’s date of birth according to the identification card, and the user’s phone number.
- After that, you’ll be asked to confirm your phone number through a confirmation code SMS or phone call. Users need to select their country code, enter the phone number, and then the one-time code they have received before clicking on ‘Continue.’
- Once the code is confirmed, users now have access to a Skrill account and are fully registered to transfer payments and funds.
There are many different types of fees eligible on your Skrill account, depending upon the kind of services you’re using Skrill for. Therefore, it’s crucial to understand all the fee that’s applicable on your account before beginning the transferring process. It is also important to be aware that the different Skrill fees willl decrease depending on your Skrill VIP level. Read about the Skrill VIP program and exclusive offeres here.
In order to start using your e-wallet, it’s necessary for users to top-up the account first and deposits some funds into the e-wallet. The depositing fee depends upon the method that the user has chosen to add funds.
Furthermore, the fee is also dependent upon the country that you’re depositing from, as the fee rate varies from country to country.
Withdrawal alternatives offered by the Skrill, as well as any transaction choices accessible, vary based on the country and currency in which they are conducted. Some countries only allow a limited amount of a certain currency to be extracted at a time, and so the withdrawal fee varies.
The most frequent withdrawal fees are listed in the table, broken down country by country.
Prepaid MasterCard® Fees
One of the best advantages of having a Skrill account is the option of Skrill Prepaid MasterCard. This card allows users to withdraw money from ATMs and transfer funds, make transactions, and make payments all over the world. Although the card isn’t operant in all countries yet, it is permissible to be used in over 31 countries.
Withdrawal costs, like any other site activity, are determined by the account’s VIP status and are listed in the table below.
Read about the Skrill MasterCard in this article.
The Skrill website has its own real-time cryptocurrency market available that allows users to make transactions through crypto as well. This is an excellent way for any crypto trader, whether skilled or inexperienced, to keep track of all their investments and earnings. Unlike other types of transactions, the deposit and withdrawal costs associated with buying and selling cryptocurrencies are solely determined by the value of the transfer rather than your VIP level, but the latter will still be used to determine your account status.
This increases the value of any cryptocurrency transactions by allowing you to benefit from your transaction in a variety of ways.
The main limitation is that bitcoin trading is currently limited to inhabitants of the European Economic Area (EEA) that consists of 31 countries. The following are the rates for cryptocurrency transactions:
Administrative fees represent the costs incurred by the billing system in resolving financing or refund issues, as well as any user payment error, attempted fraud using bogus data, or any other banned transactions. The details for administrative fees applicable are shown below:
Conversion / FX Fees
Skrill provides its users the option of transferring payments in over 40 currencies, and so when the payments fail to match the original currency that the user had opted for, some conversion fee is charged on the amount.
Skrill accounts have lately become multi-currency, a development that has drastically reduced linked charges. Still, cards can only be issued in the single available currency (EUR), resulting in surcharges at some ATMs.
When cash is received or transferred from your bank account, limits are applied on everything from transactions to merchants and internet businesses to outright cash withdrawals. Financial Institutions and digital currencies alike engage in this behavior, and Skrill is no different. It works on a similar principle, putting limits on transfers based on predetermined parameters.
Maximum Deposit Limit
Accounts that have not yet been authenticated are subject to a maximum limit set by their country of residency. When combining together all deposit fees, withdrawal fee, and transfer fee, the maximum account balance for unverified accounts is a total of €2,500.
Users that reside in countries part of the EU/EEA (European Union/European Economic Area) will have their maximum deposit limit according to their own currency (Euro).
Non-members, on the other hand, will have a limit as low as 135 USD for unverified accounts.
Prepaid MasterCard Limit
The Skrill MasterCard has payment restrictions set in almost the same way that ordinary account deposits and withdrawals do.
The limits for Prepaid MasterCard holding users vary according to their VIP status:
- Non-VIP members will be limited to a total of 900 Euros withdrawal amount
- Bronze status users have a limit of 1200 Euros
- Silver status users can deposit and withdraw a maximum limit of 1500 Euros
- Gold VIP users have the advantage of a maximum limit that totals 3000 Euros.
This allows the customers, bettors, and corporations to recover or receive larger amounts of money and offers them the freedom to manage their money without being constrained by a restriction
Skrill offers its users the option of verifying their account once they have fully registered. Verifying one’s account allows them to enjoy many benefits ranging from removal of certain limits, reduced maximum transaction amount, and an increase in maximum withdrawal amount. Read an in-depth article about Skrill verification here.
Furthermore, verifying your account is an easy process and can ensure your account’s safety, hence ensuring your fund’s safety.
The verification process is relatively straightforward and only demands users to provide additional information about themselves;
- Firstly, you need to log onto the Skrill website and sign into your account.
- As you log into the desktop site, you’ll need to go to the ‘Settings’ tab and click on the ‘Verification’ tab and then ‘Verify now’.
- Next, the users need to deposit some amount into their e-wallet in the case where they haven’t funded their account yet.
- Users can then either link their Facebook account so that Skrill can acquire important user details from there, however this step is optional and can be skipped by clicking on the ‘No Thanks’ button.
- Upon clicking the ‘No Thanks’ button, you are taken to a new page where users are presented with a couple of options; they can either download the Skrill app, or continue from the desktop site to upload their identification documents.
- Having clicked on the second option, you are required to select your country and type of identification document.
- Next, the users are presented with two ways that they can choose from to upload identification documents; take a picture from your webcam or upload documents from files; it advised that users choose the second option.
- After uploading your photos, you should see a rotating icon on the page that indicates that your upload is “processing’, please ensure you do not interrupt. Here’s what the page should look like at the end.
- The next step involves user address verification. The user will immediately receive a notification asking them to allow the website to gain access to their current location. At this point, the user may choose from the two options; either give access to the notification and allow the site to use the user’s current location or manually enter the location.
In the case where the user’s geolocation doesn’t work, they should opt for the second option and choose the address document that they want to upload.
Here the user can choose to upload proof of address in the form of a bank statement, utility bill, credit card statement and other options.
Once the documents have successfully been uploaded, the site takes the users to the next page automatically.
- At this point, the user verification has been completed, and a verification confirmation email can be expected on the entered email address.
Once fully verified you will be able to fully utilize all the different Skrill features available, with the exclusive VIP offers available from eWR.
The Skrill website’s security can be checked through the following points:
- The development of a clone site to trick unwary people into handing over their personal information is one of the most popular online scams. This can be determined by looking at the website’s overhead bar and URL.
The site has an “https” address and a padlock icon with the words “Confirmed by DigiCert Inc.” This emblem verifies the web site’s security and confirms that the customer is on the official site.
- To make the website even more secure, Skrill makes use of 6 digit pins that are needed to be entered before making any transaction through the e-wallet.
- The site also uses a two-factor authentication process that sends a one-time code to the user’s email address or phone number upon every login.
- Read a detailed article about security for Skrill here
Deposits and Withdrawals
Skrill allows its users to make deposits in several ways, including the traditional band transfer, credit debit card, crypto, and transfer from other Neteller or Skrill accounts as well.
In addition to this, Skrill users can withdraw funds through the Prepaid MasterCard too which is usable on all ATMs.
The Skrill VIP Program was created to provide a variety of advantages to engaged and regular users. The more transactions a user makes, the higher they go in the VIP status. Once a user has verified his account, he is automatically signed up for the VIP status.
The program is divided into four quarters; once a user enters the program, he can enjoy the following benefits for the next whole quarter.
- Silver – Transact € 15 000 in a quarter (Only € 5 000 via eWalletsReview!)
- Gold – Transact € 45 000 in a quarter
- Diamond – Transact € 90 000 in a quarter
Skrill Prepaid MasterCard ® is a contactless card, which means that before any write-off, the account balance is requested. The card comes with a bunch of benefits;
- The card is directly linked to the user’s Skrill account, and so access is more convenient.
- Free payment of up to €10 000 for Diamond status users.
- Cash withdrawal ranging from €900 to €5 000 in a day from any ATM.
- Anonymous online transactions, where user details are hidden.
- Increased security against frauds due to the card’s two-step authentication methods.
For users that make daily transactions and need easy access to their e-wallet, the Skrill mobile application is a good option.
The app is available on both Google Play Store and Apple App stores and makes daily dealings much easier.
The primary functions of the Skrill mobile application include the following:
- The current balance, that is displayed on the home page
- Transaction History
- Deposits and Withdrawals