If you have been in the internet for a long time and moving money in certain sectors of the network, you have surely used Skrill money transfer services, but not everyone has.
After all, there are the people who always start or those who have used services for which the old Moneybookers (former Skrill name) was not necessary.
The truth is that the name or brand is quite good. If we look at it carefully, it is a short and striking name, or at least it has always seemed so to me.
That has been a not inconsiderable question for people to remember this brand.
Is it a good online platform? It is legit? Is skrill safe for money transfer? Does pay fast or does it delay?
We are going to see these issues and many more in this skrill money transfer review post.
What is Skrill?
Skrill is a digital income and payments business that has evolved over time. At first it was a company that dealt with processing payments, but over the years it has become a financial service that also provides digital wallet functions and even a cryptocurrency wallet.
Many people know Skrill for being a payment processor very similar to Paypal, of which it is a direct competitor.
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This company is a veteran of the online payments industry. It was created in London in 2001, growing rapidly to become one of the giants of online payments in the world.
The key to that growth?
The importance that the platform had in the world of online gambling, being the main payment provider of many bookmakers, poker and casinos.
Its headquarters in London helped that because we already know that the United Kingdom has always been one of the meccas of the game, not so much because of the country itself but because of its connections with all tax havens where these types of companies are numerous such as the Isle of Man, Jersey, Gibraltar, Bermuda, British Virgin Islands, etc.
Therefore, we have already seen that we are facing one of the biggest names in online payments of betting sites.
However, it is not there and there are many services and sectors to which Skrill provides its processor.
For example, a sector in which it is widely used is in online brokers, and now lately it has also been added to the assault of the cryptocurrency world, with the addition of the cryptocurrency purchase and sale service and also the wallet.
I think there is going to be a good part of its future growth, by the way.
In fact, on the home page we can already clearly see what the main Skrill services are:
Pay on line
• Sending of money
• Buy and sell cryptocurrencies
• Skrill card
Let’s see in summary what these services consist of.
Sending of money
The objective with this service is clear: to send money online to other companies or individuals.
How can we send money with Skrill?
Note that here we are talking about traditional money and not crypto, which we will talk about later.
Well, the money is sent as simple as knowing the email address of the recipient. That is why it is a system that reminds us so much of Paypal, that with an email address we can send money to anyone.
For these shipments there are up to 40 currencies available, among which are the most important in the world. The money shouldn’t take long to arrive as long as the other party has that Skrill account.
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That already gives an advantage to those who have this ecosystem, and it does not matter if you are in Spain, Argentina or India; the money will reach your counterpart without problem and in many cases without commissions.
The ways to send money are as follows:
1 Send money to a bank account . In this case, we enter our profile and click on “Send”, where we will have to choose the Transfer of funds option.
Then we select the country, the currency, we enter the amount and the payment method. After entering all the personal details, you will be ready to send the money.
In general it is a very simple way and should not take us more than a minute or two.
2 Send to a mobile wallet . We go to the same section as in the previous point but we choose the “mobile device” option.
3 Send to a mobile number or email . It works the same as in the previous case and in the selection we have to choose “Send to a mobile number or email”.
Use money to pay online
This is the way most users – including this one – have used to get to know Skrill. Not all of us are online marketers or we were in the beginning.
Something much more common, as I mentioned earlier in the entry, is having opened accounts at poker, betting or broker sites.
This has been done by many, many people for many years. Well, there was Skrill to offer these services.
Hence, many of us opened accounts with this processor to be able to deposit and withdraw in those companies more comfortably.
There are many brokers who use Skrill to manage their payments.
Skrill is possibly the most important payment method in the brokerage world apart from cards or transfers. Brokers that use this service are FXTM, FxPro, XM, Exness, HotForex, and many others.
The Skrill service has an advantage when it comes to handling payments.
It allows us to transfer funds between different company accounts, such as brokers, and between individuals or companies without having to go through banks, in such a way that Skrill works as an online bank in its own way.
The advantage is that we can also use it to send money to the bank as soon as it is needed.
Digital wallet and purchase and sale of cryptocurrencies
Skrill has taken a huge step into the world of cryptocurrencies, enabling the ability to buy digital currencies from your account with any of the 40 available fiats currencies.
The purchase and sale of cryptocurrencies takes place in the exchanges associated with Skrill, but they are stored in the Skrill account, so in effect we have a wallet or cryptocurrency portfolio managed by Skrill.
For those who are used to working with this online provider, this becomes a fairly safe option.
At the moment the service is available for 30 countries including the US and those in the Euro zone, so it is possible to buy cryptocurrencies with any balance in those currencies.
That is, we can use our own Skrill portfolio to make these purchases, and thus build a portfolio of cryptocurrencies.
What cryptocurrencies does Skrill offer?
At the moment the most important and liquid on the market:
• Bitcoin cash
• Ethereum Classic
The minimum purchase of each of them is 10 EUR or USD.
In addition to being able to buy and sell, we can send the money to Bitcoin or Ethereum wallets, a great way to save on crypto with this well-known online platform.
Prepaid Mastercard card
This is an interesting option for those who have Skrill as a bank account or who simply manage sufficient and constant funds on the platform.
If so, why go around sending money to bank accounts, when you can withdraw it directly with a Skrill card?
This card allows:
• Use the card in most countries of the world where there are Mastercard ATMs
• Payment in stores or online businesses
• Spend money globally with good currency exchange rates
• Loyalty points are obtained with Knect
• Everything can be followed with the Skrill application, which can serve as an extra security measure since we will have to use it to confirm long-ins, and other operations.
How is customer service working with Skrill?
Skrill is committed to a fully digital model and therefore does not offer customer service by phone or other traditional methods.
We know where the company is located, but this headquarters is in a heavily guarded building and could not be easily visited; only with an invitation from the company.
In the case of having doubts, the only thing we can do as interested users (before becoming clients) is to see the company’s support page, which is in the lower or upper menu as “Help”.
The help provided by Skrill is based on an automated search engine and the corresponding FAQ section.
The only way to get in touch with support is by having an account open and clicking on the corresponding “Contact us” button in the left menu.
There the support screen opens and in it we can create our case which remains within the Skrill form.
Is this customer service working well?
Yes and no. I would like it to have the possibility of being able to send an email to a specific email and even a contact telephone number, but this is not the case.
You have to wait for those support tickets to answer and there is no way to think about that.
In this regard, it must be said that they will always respond, what we do not know is how long they will take, because sometimes they can do it the same day or the next and sometimes it can take several days. This is something that I think they should improve.
Another way to see the news of the company and possibly interact with other members of the community is through the social profiles of the company, in particular we have those of:
Is Skrill safe for money transfer?
This is one of the strengths of the company.
It can be quick in its response or not, it can charge higher or lower commissions, but one thing that it has and for which it stands out above its competitors in the crypto world, for example, is the issue of security.
Skrill’s greatest guarantee of security is its registration as a company in England (registration 04260907) and its regulation by the FCA as an electronic money company.
In addition to these regulatory guarantees, the company has a fairly strict protocol when it comes to wanting to do operations with it.
Normally you have to do a double verification just to be able to access the account, especially when we do it through the internet browser.
In that case, you have to verify with the mobile application or with an SMS that they send us to the same cell phone.
Security processes are mostly automated and can sometimes lead to account lockdowns, which can lead to a bit of an awkward situation.
For example, on more than one occasion I have been blocked from accessing the account for suspecting that the movement could be related to a suspicious entity.
The downside of the case is that it took several days to resolve the matter, for something that I think should not have even had a problem.
That’s why I said before that “they will always answer you but sometimes they take a long time.”
Skrill vs Paypal: which is better?
This will depend mostly on the service we want to use. Both are similar platforms but with different capabilities and even markets. For example, there are many more brokers that use Skrill.
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Paypal on the other hand is more used in the corporate world on sites such as Netflix, although this is something that Skrill is cutting little by little by adding more and more companies to its repertoire.
In general, it is still cheaper to operate with Paypal, which does not charge as many commissions for both deposits and withdrawals, except in the case of receiving funds, which in Skrill can be free.
Skrill Reviews (2)
Skrill is one of the greatest in the online world when it comes to payments and it shows when we see the profiles on the net.
The number of comments and opinions on this processor is very large, and apparently most denote the trust and security of the service.
However, that does not prevent negative comments, especially related to verification problems, security routines, account blocked for these reasons, incompatibility between currencies and services, and others.
Of course, there are many technical problems that arise.
An interesting place to find comments and opinions on Skrill, as well as interesting content on particular problems, is YouTube.
For example, the following video tells us about a particular problem of having money in dollars in the Skrill account, and not being able to deposit them in the IQ Option broker despite being one of the valid options to deposit in the previous one.
Many of the complaints we find on the web are of this type:
The commissions are very high
It takes a lot to verify everything, and they take a long time to respond
They are very bureaucratic and slow.
Again, what I said is confirmed. Most of the complaints do not have to do with scams or anything similar but with the slow process of the company in its security processes.
Regarding the positive opinions (the majority) we find:
The platform works great
The money is sent without problems to my account
App to make deposits and transfers without problems
It is an app with good security and enough processes to feel more secure
Likewise, it is such a well-known company that we can find content about it in all languages, especially in English, but also a lot in Spanish.
We can see many threads on sites like Forocoches or Reddit , and many others like that.
Skrill money transfer review – Advantages and disadvantages
In my opinion, Skrill is one of the largest payment companies on the web, and it is for good reason . It is not compared to Paypal just like that.
We are facing one of the giants of the online world market, of that there is no doubt. Now, that does not mean that it is a company without problems.
As we have seen in the entry, there are many problems in the whole issue of verifications and security processes.
This is an automated issue and that’s why these things happen, something that we use online processes to be more or less used to.
In other words, automation has a long way to go before it becomes truly efficient. This is a lot of problems for users, and the downside is that they usually take a long time to solve.
It is understandable that they have these security issues in the verification and that they have to follow the strict protocols but I think they would do well to dedicate more human personnel to shorten the customer response processes in all cases in which there are doubts, which are many.
This would substantially improve support, and that would be reflected in a better user experience.
Regarding commissions, it is certainly not the cheapest system on the market, but it is not the most expensive either.
There may be cheaper solutions for many cases, but I think not safer. Not all online money management companies can claim to be FCA regulated.
In the case of Latin American countries, commissions are usually higher, which can lead to not very good experiences, but it must also be borne in mind that these countries are still one step behind in full integration into global financial markets, and many of the payment options they have tend to be more expensive than in North America or Europe.
This makes many of the citizens of Latam look for cheaper alternatives, which there are, but in that case they pay the price with less security in the transactions. Everything has a price after all.
Advantages of Skrill
1. It is a company with a lot of prestige and history, being one of the best known brands in the online financial world in the world
2. It is an online digital account to take into account if we do or want to do many operations in forex sites, betting, games, poker, etc., but it is also increasingly present in many others
3. It allows the use of payments to many countries (+200), many more than a good part of the competition
4. Money can be sent to related email accounts on Skrill, avoiding having to go through other systems
5. It has included the possibility of buying and selling cryptocurrencies, which puts the service as a company to follow in this field
6. You have your own Mastercard card to use at ATMs and businesses in any country
7. Interesting commissions in certain cases, for example bank transfer, which only costs 5.5 EUR, something that is worth it for large transactions but obviously not for small amounts (hence there are complaints when 20 or 50 EUR are withdrawn, for example).
Disadvantages of Skrill
1. As I mentioned in the advantages, depending on the case the commissions can be good or bad. This also makes it necessary to look a lot at the issue of rates depending on the use we want to give it.
2. EUR 5 fee if account is not used for more than one year
3. Common problems when verifying accounts and the payment and withdrawal processes, resulting in verification delays for users
4. The exchange rate for transactions can be unfavorable at times.
Additional questions on Skrill review – FAQ
Is Skrill a scam?
It could happen that the company internally did bad things, like Enron or Wirecard in their day, but in theory we are facing one of the safest online companies that we can find.
Is Skrill fast?
We can wait from 1 to 5 days in most cases for withdrawals, in which case Skrill will inform us when processing the operation.
In payments we could expect almost instant transactions to payments of 1 to 3 days for movements with Skrill or transfers.
Is there a Skrill app?
In the case of Android, the app is used as a verification method every time we want to enter the web, with a notification on the phone to verify that we are the ones who are trying to enter.