You must have understood that in order to run a successful business, you will have to accept payments both digitally as well as physically. Now, we know that people who are abroad will make transactions exclusively via digital means.
Therefore, it is important for us to have a platform where all the transactions can be made in a secure manner.
Now, we know that PayPal lets us do the same but it is a major platform meaning that its charges are also very high. We have a competitor to PayPal named Skrill which also offers national and international payments and is known to offer almost everything that PayPal offers.
So in this article, we are going to do a Skrill review where you would come to know about everything that Skrill has to offer.
One important thing to note here is that Skrill was launched in 2001 but back then, Skrill was not named as what it is now. At that time, the platform was known as Moneybookers.
So we will also like to call this a Skrill Moneybookers review since they are one and the same. At the moment, Skrill claims that they have 40 million active users worldwide and they support 200 countries and 40 different currencies.
In order to understand the Skrill Money Transfer review, you will also have to get to know more about the platform and how it works.
But before that, there is also a question that arises which is why you would want to switch to Skrill instead of PayPal which is a much bigger and known name in the industry.
Well, it is worth noting that PayPal is a platform that has many limitations right now. For example, PayPal does not allow accounts from online casinos and gambling industry.
However, Skrill is a platform where the threshold is low in order to create account and transact online which means that a new player can also use the platform with ease.
Now that we have the reason to switch to Skrill out of the way, transferring money is the main thing that we would do on this platform so let’s get started with the Skrill Money Transfer Review.
Skrill Money Transfer Review
First of all, it is important to note how you can transfer money on the Skrill platform.
So we will like to inform you that from Skrill, you can transfer money from a range of different methods such as direct transfer to your bank which is the most used and the traditional method.
However, this is also a method that takes time and many are moving away from this method due to the delays.
Apart from that, you can also have a credit/debit card transfer. Also since Neteller has purchased Moneybookers, you also get the option to transfer money with Neteller as well.
Along with that, we have modern modes of payment such as Bitcoin and Bitcoin Cash as well as Paysafecard, Trustly and Klarna.
Skrill Money Transfer charges
One thing that we mentioned earlier is that PayPal is a platform where you need to pay a lot in transaction charges in order to transfer money from one account to another.
This is the reason why many people have switched to Skrill but it is worth noting that Skrill has minimal charges for transaction too which is how the company makes money.
But it is known that Skrill has one of the lowest payment charges in the industry. It is also one of the most sophisticated platforms because all the charges are simplified.
On Skrill, you will find that whether you make a direct money transfer to your bank account or pay via your credit or debit card or choose any other method of money transfer, you will have to pay the same fees.
Yes, Skrill will charge you 1% of the transaction fees based on the total amount of your transaction. This means that if you are doing a money transfer on Skrill for $500, you will have to pay $5 extra in order to send that total amount on the other end.
This is, for sure, the lowest transaction fee that we have seen on any platform till now and we believe that it will save you a lot of money in microtransactions if you are someone who does that often.
Skrill Withdrawal fees
Now that we have mentioned about the Skrill Money Transfer process as well as its transaction charges, it is also important to know about the withdrawal fees on the platform.
The great thing about Skrill is that you have the option to withdraw money from the account or method that you have chosen to transfer the money.
So for example, if you have chosen to transfer money from your bank account then you have the option to withdraw money to that same account without entering any details about it.
The only thing is that if you choose to transfer money to your bank account, you will have to pay a EUR 5.5 withdrawal charges which will remain the same for currencies around the world after conversion.
However, it is worth noting that you will not be charged to receive money on Skrill. This only applies when you want to withdraw the received money from Skrill to your bank account or any other mode of payment.
The obvious question you would have right now is that why would anyone want to keep their money on Skrill.
Well, the reason why you would want to do so is if you are a frequent user of Skrill and tend to transfer money on the platform almost daily or frequently in a week.
If that’s the case, you will be able to save a lot of money in withdrawal charges since you can receive the money in your Skrill wallet for free and then pay 1% of transaction charges to send the money to other accounts.
Now that we have done the Skrill money transfer review and Skrill payment review, you would have understood that the platform is best for you and a great alternative to PayPal depending upon your needs.
However, it is obvious that some people will be concerned about the safety of their money and how secure it is to transfer money via Skrill and if there is any chance that their money could be stuck in between.
To answer your questions, we would like to tell you that the sole purpose of doing Skrill Review 2020 was to clear all of your doubts on this matter.
Is it safe to use Skrill?
We have understood that people who have not heard of Skrill would be worried. Since we have the Coronavirus outbreak and physical money is dangerous since it can also spread the virus, digital payment methods and e-wallets are preferred.
But since Skrill is a lesser-known brand, you are right on your part of being a little worried.
Having said that, we would like to tell you that Skrill is a perfectly safe platform and it is even authorized by the UK Financial Conduct Authority under Electronic Money Regulations 2011 which means the platform is under the watch of the UK government and your money is totally safe.
However, there are still steps you need to take in order to ensure the security of your Skrill account so that even if your card details are known to someone and your phone gets lost, no one can misuse it to transfer money.
For example, Skrill lets you set up a 2FA or 2-factor authentication for your Skrill account where you need to enter a password as always. But you will additionally have to enter a secure PIN that is sent to your mobile number from Skrill which is unique for that transaction only.
Also, Skrill requires you to have a 6-digit PIN number which has to be entered by you every time you need to do a critical transaction such as transferring money from your account, withdrawing money from your Skrill account, or changing the PIN, etc.
Skrill Customer Support
Now that we have mentioned the Skrill Payment process, its money transfer and withdrawal process as well as safety on the platform and how you can ensure the same, there is one last thing that needs to be known which is Skrill’s customer support.
As with all the major companies, Skrill also has a customer support team working to solve your queries in a timely manner.
But before that, Skrill provides you with a long list of frequently asked questions that can answer most of your questions.
If your query is not inside those FAQs, you can contact Skrill customer support team via phone from the UK or the US.
The only thing you need to mention to the customer support is your customer reference number that can be easily found from your Skrill account dashboard.
Make sure to not provide your PIN, OTP, or account details to even the Skrill support team as it may be dangerous for your security.