In the world of online gambling, Skrill, formerly known as Moneybookers, is one of the most popular e-wallet providers around. Aside from offering some of the lowest fees amongst similar providers, Skrill currently supports over 40 currencies and is available in nearly every country. While there are some restricted nations here and there, Skrill is one of the most trusted and flexible e-wallets for gamblers and anyone else who wants a private virtual account.
Making an Account
Making a Skrill account is incredibly easy. You can create a basic account by filling out a form that asks for common information like your name, address and email address. The basic account is good if you want to transfer a small amount of money, but most people will want a verified account. This gives you access to higher daily transfer limits and allows you to get a Skrill prepaid debit card.
The basic account only takes a few seconds to create. A verified account takes a bit longer since the information has to be verified and there are some additional steps, but it shouldn’t take long in most cases.
Adding money is also quick, and tends to be cheaper than with most other e-wallet providers. The deposit methods and rates differ for each country, but these are the rates for US citizens. If you make a bank or ACH transfer, then you won’t be charged anything. The transfer is free and you can expect your money in a few days. While the free transfer is great, the glaring issue is that many people want their money now.
If you want a quicker option, then you can use a debit card, credit card or PaySafe. Using any MasterCard or Visa card carries a fee of 2.9 percent, but the money will instantly appear in your account. PaySafe is just as quick, but the fee is significantly higher at 4.95 percent.
Fees and Availability
Aside from the nominal fees for adding money to the account, there are also some other general fees to be aware of. Sending money to a merchant incurs a fee of 1 percent, but the fee is capped at a maximum of $10. There is also a fee of $4.99 for withdrawing funds to a bank account. If you receive money in a currency other than your default currency, then you’ll incur a conversion fee than ranges between 2.99 to 4.99 percent. This depends on the current exchange rates.
Skrill is available in hundreds of countries, and the only restrictions are based on countries that are under sanction from the US or European countries. You can also choose from 41 different currencies, which is unprecedented in the e-wallet industry. The only caveat is that your default currency is based on your first purchase, and it cannot be changed once it is set. For example, if your first payment is in AED, then you cannot change it to USD. You can still accept USD currency, but it will incur a conversion fee.
Skrill offers a prepaid MasterCard that is linked to your account. Unlike the main account, the debit card can only be set to one of four different currencies: EUR, USD, GBP or PLN. There are no fees spening money, receiving cash to the card or getting account statements, but there is an annual fee of $10 and a $2 fee for cash withdrawals.
Skrill offers a high level of security to all of its customers. Aside from basic security like encryption and withholding account and bank data from merchants, Skrill also has a team of experts that go through every transaction to reduce fraud. These experts work tirelessly to ensure that every transaction is real and legitimate.
If there are any issues, then Skrill will typically fix everything in a timely fashion. You and your money are safe if you choose this e-wallet provider.
Skrill is one of the oldest and most popular e-wallet providers used for online casinos, merchants and anyone who wants a private virtual account. Their fees are incredibly low, and the best thing is that they offer service to nearly every country and operate in over 40 different currencies.