Skrill Review

  • Established: 2001

  • Products & Services

    • Debit and credit card processing
    • Digital wallet
    • International fund transfers
    • Split payouts

    Industries

    • Retail
    • E-commerce
    • International
    • Marketplace-style
    • High risk

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Skrill

Skrill is one of many companies that offer both merchants and customers of those merchants a way of moving money around the web, to pay for goods and/or services in a cost effective and in a real-time way.

Skrill originally launched as a company called Moneybookers, however they rebranded in September 2011 and are now known as Skrill. They have become one of the largest and most trusted of companies involved in the online payment services sector, and they have a solid reputation as a safe and reliable e-wallet, and are trusted by millions of people all over the world.

Skrill Facts and Figures

To ensure you have a full and deep insight into the way that Skrill operates as a company, we shall now give you a full overview of their operation.

The industry sector Skrill operates in is in the online payments service sector, and they were founded back on the 27th of July 2001. They are headquartered at 25 Canada Square, London in the United Kingdom and they offer their service to worldwide customers.

The current CEO of Paysafe Group PLC who is the parent company of Skrill is Joel Leonoff and he has held his position of CEO since 2015.

Products offered include a payment gateway for merchants and a digital wallet for customers, they also offer a prepaid card that allows anyone with one of their e-wallets to access the funds held in their account instantly.

They currently employ in excess of 700 employees across the globe and offer an around the clock customer and merchant support service too.

How to Use Skrill

The sign up procedure for becoming a customer of Skrill couldn’t be easier. You simply need to visit the Skrill website and fill in the registration form, and in a matter of seconds your account will be created.

For a complete run through and overview of just how quick and easy it will be to sign up to use Skrill, please watch the above video that will walk you through the entire procedure. You will need to supply them with your own personal details, which they will need to verify your identity and you will also need a valid email address too.

Top 10 Reasons to Use Skrill

Whether you are a merchant looking for a reliable payment gateway, or you are someone who is looking for a safe and reliable digital wallet, Skrill is certainly a company worth looking at, and in this section of our review we are going to be taking a look at the top ten reasons to use Skrill.

Fast and Efficient Sign-Up Process

It is going to take you at most a couple of minutes to sign up to start using the services offered by Skrill. Once your account is set up and opened you will then be able to instantly send money around the web and can also receive money into your Skrill account.

Be aware that there is an account verification process that you will need to go through, but that it a quick and efficient process that will only need to be performed once.

Full Access to Your Funds

All funds in your Skrill account are fully secured and you are always going to be able to access your funds at any time of the day or night. Being a fully licensed and regulated company all funds held by customers and merchants of Skrill are held in a segregated account.

If at any time you do wish to withdraw the funds that are held in your Skrill account you can do so and they offer a range of different ways for those funds to be sent out to you. Most customers however link up their Skill account to their bank account and as such they can withdraw their funds to their bank account.

If you live in one of the many countries of the world that offers the speedy payments banking service then you can withdraw your money back to your bank account from your Skrill account and those funds will appear in your bank account instantly or within a few hours at most.

Skrill Prepaid Debit Card

If you want a much greater number of ways of accessing the funds held in your Skrill account rather than just being able to withdraw them to your bank account for example, then it may be beneficial for you to apply for one of their prepaid debit cards.

When you receive your card and the PIN for that card you are then going to be able to use it anywhere that accepts debit cards, which also includes being able to withdraw cash from any ATM too.

Mobile and Online Digital E-Wallet

It is not only via the online platform that you are going to be able to access your Skrill account, you are also going to be able to download and use the mobile app. That will come in very handy if you are ever out and about and need to make a payment or send money.

The fees and charges are the same irrespective of whether you use their online or mobile platform, and you will have the exact same range of services and ways of accessing your funds on both of those platforms too, so there will be no compromises to be made when using one or the other.

VIP Programme

One interesting aspects of using Skrill as one of their digital e-wallet users, is that the more times you use your account and the higher the volumes of cash your move around the web the higher you will progress through their unique and exclusive VIP Programme.

There are many unique benefits of that loyalty type scheme, however one of the main benefits is that you will find the charges and fees imposed on you for using their services will drop in value, so the more times you use Skrill the cheaper it will become to use their online money movement service.

Low Transactions Fees and Charges

One thing you should always be prepared to do if you are a merchant looking for a payment gateway or someone who is looking for a digital wallet is to shop around and ensure the ones you do finally decide to use are going to have the lowest fees and charges associated with using them.

In regards to the fees and charges that Skrill will impose on you those are very clearly stated on their website and you are also kept full up to date if and when those fees and charges change too.

Higher Limits for Verified Account Holders

When you first open up a Skrill digital wallet you will have some limits placed on your account and you will be able to use your account instantly, however as soon as you reach those preset limits you will then need to get your account fully verified.

As soon as your account has been fully verified the limits imposed on your account will then be lifted, you will find full details of how you can get your account verified on the Skrill website.

If you wish to have those limits lifted at any time before your reach the preset limits then contact their customer support team who will let you know what documents you will need to copy and then send into them.

Instant Real Time Transactions

There are no excuses these days when it comes to moving money around the web why those transactions you make cannot be done so instantly and in real time. Instant and real time transactions are of course one of the main attractions for users of Skrill, as all transactions you make using their online or mobile digital wallet solution are going to be processed instantly.

That includes when one of their digital wallet users initially tops up their account or when they send money to any merchant or any other user of Skrill.

If you use Skrill for making transactions into and out of gambling sites then you will also benefit from the fact that when you make a withdrawal from those sites as soon as they send the funds to you they will show up in your digital wallet instantly.

You will also receive notifications via email as soon as funds have been sent to you and you do of course have a full audit facility when logged into your account, and as such at all time you are going to be able to see when you sent funds and when you also received funds into your account too.

Fully Licensed and Regulated Company

It is important that at all times when you are using any digital wallet that you have complete peace of mind in regards to your funds being safe and securely held. All funds held in your Skrill account are fully secure and they are also held in a segregated account.

You will be able to change your password at any time if you think it may have been compromised, and if at any time of the day or night your are worried about the funds held in your account or the security of your account you will be able to contact the support team at Skrill who are always on hand to assist you.

Around the Clock Customer Support

Customer service is an important part of the entire Skrill operation and as such you will be pleased to learn that you are always going to have access to and around the clock customer care team as one of their customers.

There are several different ways that you will be able to contact them, and for full details of all of the many different ways you can contact Skrill please do consult their website. They do respond rapidly to all questions and queries asked, and they do of course offer multiple language options in regards to ho you can contact their support team members too.

Questions and Answers about Skrill

To ensure you have a good understanding of the structure and services offered by Skrill, and an insight in the regulatory organisations that oversee the running of the company, below are some of the most important questions relating to Skrill and the respective answers to those questions.

Who licenses Skrill?

Are there fees and charges associated with using Skrill?

What is the Skrill prepaid card?

Does Skrill offer multi-currency transactions?

Are transactions processed in real time?

How can I reduce the fees and charges?

Can I send money to friends of family members?

How many merchants use the Skrill payment gateway?

How do I verify my Skrill account?

Can I use a mobile device to access my Skrill account?

Skrill and Online Gambling Sites

People use Skrill for many different purposes, however a very large percentage of the merchants using their gateway are from the online gambling market sector, and as such a very large number of Skrill digital wallet users actively gamble online, using Skrill to move money into and out of gambling related sites.

There has always been a very large number of gambling related companies offering Skrill as one of their available banking methods, and the number of such companies is expected to increase in the coming years.

One of the major advantages for those companies and their customers is that all transactions are processed instantly and in real time, and as such there are no delays in anyone wishing to top up their gambling site accounts and/or receiving their winnings from such accounts.

Due to the verification process all customers of Skrill have to go through, it is a very safe and reliable payment service, and one that is easy to use and does offer some fairly high transaction limits too, which is of course ideal for the online gambling industry.

Skrill – The Safe Way to Move Money around the Web

Having been in business for many years now, and as they have processed millions of transactions worth billions of Dollars over the years, Skrill have firmly established itself as a safe and reliable way for anyone to move money around the web.

Whilst you do of course have plenty of choice these days in regards to just which digital wallets and payment gateways you can pick and choose from, there are not many companies that have the experience that Skrill have gained over their many years of operation.

However, always keep in mind that as well as service, prompt payments and security you do also need to ensure you are never paying too much to use any form or money movement service, and as such always shop around to ensure the ones you do use are not going to force you to pay any excessive fees and charges, as there are numerous other companies involved in this service sector.

In fact, with that in mind please do make use of some of our other digital wallet and payment gateway service reviews, as we have full and very in-depth reviews of all major ones and also have reviews and guides on some of the newer companies involved in this markets sector too.

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