Skrill has been operating ever since 2001, but it was launched officially in 2008, albeit with a different name. Back then it was known as Moneybookers, and in the meantime, it became one of the most popular virtual payment systems, mostly because of advanced levels of safety and convenience.
Overview
For many years, Moneybookers was the favorite electronic payment method for many people, but in 2013, the whole platform was rebranded and renamed into Skrill.
These days, it is still among the most commonly used payment systems, especially by those who are into online casinos and other kinds of online betting.
In most cases, Skrill users hail from Europe, but in recent times we’ve seen a growing number of users from all over the globe jumping onto the bandwagon and taking advantage of the convenient yet secure payment services this company provides.
The main advantage of Skrill over other payment methods out there lies in the fact that you can pay for stuff or make withdrawals without giving away any financial details or personal info. The only thing that will get “compromised” is your e-mail address, as the system won’t function without one, but on the other hand, no debit or credit card numbers are involved.
The user interface is very intuitive and easy to use, and all you need to do is link your credit card, debit card, or bank account to a Skrill account.
Skrill is actually quite a comprehensive platform that comes with a wide array of different services and products, so it can offer you debit or credit car processing, split payouts, international money payouts, digital wallet service, and more.
In recent times, they’ve even added their own loyalty program, but we’ll get back to it a bit later on.
The Registration Process
Don’t be frightened by the word “process”, since it isn’t complicated at all, and it doesn’t even take that long. You will spend 10-15 minutes before you can make your first deposits on your favorite game.
Account creation is divided into several logical steps, so it really is no big deal. First off, you choose between creating a personal or business account, and then you need to share some basic info and preferences, such as the country you live in, the currency you prefer using for your money transactions, and the language you wish to use.
After you’ve made your first choices, you will be prompted to fill in some info about you, such as the mobile phone number, your first and last name, your address, your city of residence, and its postal code. After this you will be able to proceed onto the log-in window.
These are all the steps required to register an account on Skrill, and after you’ve completed them and logged in, you can make your very first deposit which also serves as a means of account verification.
With this initial deposit there will be no fees involved, but all future money transfers will indeed come with a certain fee.
Sure enough, Skrill may as well be one of the most convenient and secure platforms for online money transactions, but there are still users who aren’t really happy about extended periods of time required to make withdrawals.
In case you didn’t know, cashing out after scoring a win at an online casino commonly involves a couple of days, because the internal review team sifts through each and every money transaction. This is for your own good, as it prevents you from being scammed in any way. It is also worth pointing out that there are no hidden taxes or fees involved with this payment platform, but perhaps it is best to go visit their site and check the detailed info.
Using Skrill Online
Skrill is easy to use for any type of online purchase or money transaction, and the best part is you don’t have to share any of your bank or card details to the public. There are hundreds of thousands of online businesses accepting Skrill all around the world, so it is pretty safe to use it is a very convenient platform. It is flexible yet safe, as you can use it all over the Internet, linked to your bank account or credit/debit cards.
On top of all this they will offer you the option to use the Prepaid MasterCard service, and the greatest thing about it is that it isn’t linked to any bank accounts and you can use it anywhere in the world. You can only spend the amount you have previously loaded into the card, which makes it as safe as it can be.
Last but not least, this option also comes with a plethora of exclusive discounts and other shopping offers.
Money Transfers and Fees
Besides all the shopping sprees, Skrill is quite often the preferred method when money transfers from one bank account to another are concerned. It’s no wonder, especially when you take into consideration all the low fees and great rates it offers. You can send or receive money in a safe manner, without worrying about any risks, and you can do so anywhere in the world, where all you need is a valid email address.
This service is called Skrill iT and it caters to 200 different countries, and there are over 40 most commonly used currencies supported. The transfer procedure is a fairly easy one, and it provides you with instant money transfers.
In fact, when you take a closer look at all the available options, there are actually more than 100 of them! Still, no great service comes for free, so it’s only logical that Skrill involves certain fees for such magnificent money transfer options.
Now, for the fees themselves… The good thing about them is that they try to keep them as low as possible, and, what’s even more important, they are all completely transparent.
However, you will still need to give them 1% of the amount you want to send. Still, this amount that they take away from you is limited to 10 EUR, so perhaps it’s best idea to make all your transactions bigger than 1000 Euros, right?
All jokes aside, these are really low when compared to what other payment services charge, and don’t forget that purchase payments in online shops or fund transfers with merchants still don’t involve any fees at all. Receiving money also comes fully free of charge, it’s always the one who sends that ends up getting all the fees.
In case you are unsure about any of the above, there is always a clear and transparent way of checking all your digital wallet fees. It involves running down a drop down list, selecting your country and choosing the currency you prefer for all your money transactions. Just click on the “Go” button, and you will get all the detailed info on fees occuring when sending or receiving cash, uploading or withdrawing funds, and using the prepaid MasterCard option.
What About Safety Issues?
So far you’ve realized that Skrill is highly convenient, but you’ve surely noticed that we’ve also praised its security and safety. This is only logical, as it basically sets new industry standards when it comes to these. It basically covers the requirements dictated by the Payments Card Industry Data Security Standards, so we needn’t say anything more.
All of the data that gets uploaded on the platform cannot be read or stolen, because it’s utilizes the latest types of encryption technology. Skrill also has special teams devoted to the safety of the customers, and these guys are available 24 hours a day, seven days a week.
Skrill Prepaid MasterCard
Yes, we’ve mentioned this service earlier, but over here you will get a bit more detailed info on how to use it both offline and online. Since it can be used everywhere around the world, there are more than 2 million ATMs and 35 million outlets that will accept your Skrill Prepaid MasterCard.
What makes this payment option so appealing is that it is so easy to sign up for it, and it is not tied to any bank accounts or credit checks. Another great thing about the card is that you need to preload it, so you can only spend what you have on the card. This comes in very hand with people who have trouble managing their budgets, especially when they around online casinos or other sorts of online bettine venues.
Shopping anywhere with this card involves no fees at all, but if you use it to withdraw cash from a local ATM device, it involves a fixed fee of 1.80 Euros. Also, you need to keep in mind that there is a fixed foreign exchange rate amounting to 2.49%.
Is There a VIP Account Option?
Of course, what else would you expect from such a reputable and popular company? Sure, there is an option of becoming a VIP user, and it allows for much more freedom when we’re speaking of limitation on the money transactions. The platform’s most loyal customers also can make use of the free withdrawals and uploads, without any fees.
Becoming a member of the Skrill Loyalty Club comes with numerous perks, among which we’d like to point out that you will get a reward for each and every transaction you make through the platform. Whenever you need any assistance, you will be greeted by 24/7 professional help, no matter what you need from the staff.
Skrill Knect
Announced in November 2019, Skrill Knect is a completely new loyalty program, and it is actually based on the traffic the user makes while building and maintaining connections, so that’s where its name was derived from.
Basically, you get reward points for any money movements you make, and this includes deposits, withdrawals, P2P payments, prepaid card transactions, and even cryptocurrency transactions.
These points you earn can be exchanged for e-money, gift cards for leading retailers, discounts with participating merchants, or interests in cryptocurrency, courtesy of Skrill Cryptocurrency Service.
Lorenzo Pellegrino, CEO of Skrill commented on the launch: “I’m extremely excited to be able to recognise and reward our customers and do that through the launch of Skrill Knect. From today, all Skrill customers will be able to enjoy exciting, relevant rewards just by using their digital wallet or prepaid Mastercard.”
He added: “Skrill Knect doesn’t just benefit our customers, but our partners too. We’re keen to work with existing and new merchants and brands to deliver the right reward to the right customer at the right time.”
As of now, there are more than 30 European countries where the new loyalty program can be used, and these include Bulgaria, Spain, Netherlands, Austria, the UK, and Germany, among others. The implementation process will take a while, but once it is done, it will be available to all the users around the globe.
The officials have great hopes for the new program, as they believe it will provide all the partnering merchants with much greater volumes of traffic. All customers simply need to apply for the program as there are no special conditions under which you can become a member.
Wrapping Up
Those of you who are novice to the world of online gambling probably find the finance part quite confusing, especially if you take into consideration so many different options available.
Choosing to go with a popular option such as Skrill is actually quite a wise choice, as there are many casinos willing to accept it, and if you’ve been reading our review thoroughly, you’ve probably understood that it is quite a safe choice.
Making deposits and withdrawals will be like a walk in the park, and you will surely grow to love the small fees and the rapid money transfers.
FAQs
What Is Moneybookers?
It is now known as Skrill, and it still one of the most widely used electronic payment methods, especially in the iGaming world.
Are There any Geographical Restrictions?
No there are not, as it is available in most countries of the world, and it supports more than 40 different currencies. Still, it is most widely used in Europe.
Are There any Fees?
Yes, there are, but they are completely transparent, and they are usually 1% of the amont of money you want to send.
Is your Personal Info Safe?
Yes, it is, as they only need your email address and password for money transactions. None of your personal data is ever revealed to any third parties.
What Is Their VIP account like?
The VIP account provides users with less limited money transactions, along with free uploads and withdrawals, and rewards for the most loyal customers, topped off with a 24/7 customer support assistance.