Skrill or Skrill (formerly Moneybookers) is an electronic system for making international payments. Initially, the platform was mainly used for gambling payments, and although this area still uses Skrill, the system has evolved to add a number of new services and products. As a rule, deals here are a little more expensive than on alternative platforms.
For example, Skrill provides funds transfer services, and at the same time acts as an online service for storing currencies. Today the system supports more than 100 fiat currencies and 9 cryptocurrencies.
As for cryptocurrencies, here you can not only pay for them, but also trade. The company is constantly working to simplify access to cryptocurrencies on its platform.
In this article, we will take a closer look at what Skrill is and how it works.
- What is Skrill
- Skrill Registration Personal Account Registration
- Business account registration
- Virtual Skrill card
- Top up your account using cryptocurrency
- Neteller
What is Skrill
Making payments Skrill
Skrill
is a processing service that provides a fast, efficient and secure way to transfer funds. Skrill was founded in 2001 under the name Moneybookers. The payment system rebranded only 12 years later, in 2013.
Today the company is among the world leaders operating in the payments industry. Regardless of the purpose of using the service, Skrill will be able to satisfy almost any client’s needs.
Payments in this payment system are highly competitive with analogs of TransferWise and PayPal, in terms of functionality and geography of service and the size of commissions. Skrill offers free online payments in online stores, as well as payments within the system. In addition, the company provides “special” conditions for VIP clients.
At the same time, the main product offered by the company is an electronic wallet.
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Skrill funds can be held in any of the major currencies offered by the service during registration. Afterwards, it will be impossible to change the account currency.
Customers can purchase a prepaid Skrill card linked to a personal account. However, this option does not apply to customers registering a product outside the Eurozone.
Skrill also recently introduced a new service that allows you to directly buy and sell cryptocurrencies. Among those available on the platform: BTC, BCH, ETH, ETC, LTC, XRP, EOS, XML and ZRX.
Skrill also addresses the needs of businesses, helping them build a global customer base and drive growth. Skrill is a truly global company with its head office in London and more than fifty offices located in Europe and the USA.
It is also worth paying attention to the availability of personal data verification by the service.
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And although it may not be necessary, since access to most services will still be open, Skrill can at any time oblige the client to undergo verification, otherwise the funds will simply be frozen.
In addition, the transaction limit set by the system depends on whether verification has been completed.
Skrill Official Website
Skrill registration
How to register with Skrill
How to register with Skrill:
- Login to the service.
- Click “Register”;
- Enter the data requested by the system;
- Click "Register Now".
The process of opening an account with Skrill is very simple. The service supports more than a dozen languages, including Russian. As the client creates an account in Skrill, he gets the opportunity to conduct financial transactions both to pay for goods in online stores, forex trading, and to send and receive funds to a bank account. The service supports two types of accounts: for personal purposes, Personal, and for business purposes with the identical name Business.
Below we will take a closer look at the process of registering an account both for personal needs and for business activities.
Registering a Personal Account
In order to join the service, first you need to go to the official page and create an account by clicking on the “Register” button in the upper right part of the interface.
Next, the user will be redirected to the registration page, on which the system will prompt you to enter personal data in English, including first name, last name, country, currency, email and password. Be sure to use a strong password, since the level of potential threat to the funds in your account depends on its complexity.
Registering a Personal Account in Skrill
As soon as all lines are filled out correctly, the “Register now” button will become active at the bottom of the form.
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By clicking on it, the user automatically agrees to the provisions of the Skrill privacy policy, and also gives permission to access and process personal data.
Next, we go through the captcha and get to the welcome page. That, in principle, is the whole registration process, which will take no more than 2 minutes.
Business account registration
If it is necessary to integrate the service for business transactions, click on the business button located in the upper left corner of the interface. The user will be redirected to a page where they will be asked to contact the sales department. Here we click “Submit an application” in the central part or “Start”, which is located a little lower.
Registering a Business Account in Skrill
The essence of the process will not change, and in the first and second cases the user will end up in the same place.
Next, on a page that does not support the Russian language, in the “Email address” field, enter your email, through which a company employee will contact you within a couple of hours to clarify the details.
Registering a business account in Skrill
Login to your Skrill account
Login to Skrill
To log into the Skrill payment system you will need:
- Go to the official website of the financial service provider.
- Click on the “Login” button located in the upper right corner.
- Enter the requested data (email and password).
- Click “Login”.
- We get to our personal account.
See below for detailed instructions on how to log into your Skrill personal account.
First, you need to fill in the fields with the email address and password that you specified during registration.
Login to your personal account in Skrill
In case the password has been lost, the system provides the ability to recover the password
. To do this, in the “Login” window, click “Forgot your password”, and in the window that appears, enter the email associated with your account.
Password recovery in Skrill
Afterwards, the service will send instructions for resetting your existing password with the option of setting a new one.
Password recovery in Skrill
As for the Skrill interface itself, everything is simple and clear.
On the right side there are tabs that include a list of services offered by the service.
Personal account in Skrill
What is in your Skrill personal account:
The “Information Panel” tab contains information about the “utilities” of the system. Among the main features: sending money, replenishing an account, receiving a card, trading cryptocurrencies and forex, online gambling.
“Top up your account” contains information about methods for transferring funds to your account.
“Withdrawal” contains information about methods for withdrawing funds from your account.
“Send” contains information about the directions for sending funds in cryptocurrency.
“Exchange” contains information about the directions for converting funds into other currencies.
“Cryptocurrency” invites users to take part in crypto trading.
“Transactions” contains information about completed transactions.
“Knect” is a service loyalty program.
“Settings” displays the account status and also allows you to configure channels for informing the user about the service.
"Contact us".
"FAQ".
"Promotions" contains offers from suppliers.
To use all Skrill features, you need to top up your account.
Administrative fees
Administrative fees cover the costs incurred by the payment processor in resolving replenishment or refund problems, as well as any user payment errors, fraudulent attempts using false data, or any other prohibited transactions. Because Skrill is controlled by Bank of Ireland, the payment system has various obligations that need to be monitored for fraud or money laundering. Ultimately, all these fees help maintain a safe and fair platform that protects users.
Administrative fees are listed below:
| Commission | |
| No account transaction for more than 12 months | €5 per month |
| Canceling a withdrawal of funds to an erroneous account (clause 12.7) | up to €25 per return |
| Refund of payment (clause 8.3) | €25 |
| Prohibited transactions (clause 11) | up to €150 |
| Providing inaccurate or unreliable information (clause 4.5) | up to €150 |
| Attempting to top up your account with cash (clause 8.12) | €10 |
Is verification required in Skrill?
Verification in Skrill
As you can see, in your Skrill personal account there is not a word about identity verification. But this is only until the funds appear in the account.
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Skrill provides customers with the ability to store and transfer funds without identity verification. However, if you need to work with large amounts, you will still have to undergo verification. This procedure also directly affects the level of account security.
In any case, even if the account turnover is small, everyone can undergo verification.
The process itself takes only a few minutes. To do this, the system recommends doing the following:
- We enter your Skrill personal account.
- If funds have not been received into the account before, we replenish it.
- Go to the “Settings” section.
- Click on the “Verification” tab.
- We follow further instructions.
So, let's take a closer look at this section.
Skrill Identity Verification
As you enter the “Check” tab, click “Check Now”. The user is immediately presented with a list of steps that must be completed when going through the verification process.
- Verifying your account through the social network Facebook. If Skrill's requirements are satisfied, the system will gain access to data stored on the social network platform.
Verification in Skrill
If desired, you can refuse verification. This field is optional.
- Identity verification. Verification is carried out in one of the following ways: through a mobile application or by sending a passport or any other document confirming the client’s identity, as well as a photograph with a handwritten code generated by the system via a computer.
Verification in Skrill
- Address verification. It is possible to open access to geodata, which is much faster than adding data from a passport or from another document confirming the client’s location.
Verification in Skrill
- At the end, a summary of the data will be carried out, based on the results of which the documents will be sent for verification to the Skrill security service.
Verification in Skrill
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As a result, a letter confirming or refusing verification will be sent to your email within a few hours.
You can also see the status of your Skrill account for verification in the “Settings” section of the “Limits and Verification” section.
According to the service's FAQ, it also happens that the system requests re-confirmation of personal data after some time. Please note that Skrill tries to take into account all the parameters necessary to comply with regulations. And since regulators often make amendments and new provisions to the legislative framework, this is reflected in the payment service’s requirements for clients.
Such measures are necessary in order to increase the limit or remove it completely from certain transactions in the account.
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So, if before passing verification the possibility of replenishing an account in cryptocurrency was only up to $583, then after passing verification the bar rose to more than $11,000.
As we can see, the client receives a large share of trust from the service, and the service, for its part, provides a wider range of services.
Note that previously users did not need to undergo this test, but now that the company is trying to meet the stated requirements of regulators, the system is doing everything possible to satisfy the FCA regulations. Let us remind you that the client agrees to the rules by accepting the terms of the user agreement at the stage of registration on Skrill.
Investing in cryptocurrency
If you just won at poker, why not take another chance and invest some of your money in cryptocurrency?
Even without leaving the site, you can access trading of various cryptocurrencies, but you will still not be able to avoid commissions when trading cryptocurrency itself. However, there is a way to cut your costs by up to three times, increase your maximum and minimum withdrawal amounts, and even earn bonus points for a chance to win extra money or prizes.
Skrill card
Skrill Card from Mastercard
Skrill cards are released in collaboration with payment giant Mastercard.
There are two types of cards available for use: plastic and virtual.
Virtual Skrill card
Interesting for users who constantly engage in online shopping.
So, you can apply for a Skrill virtual card by doing the following:
- Click on the “Skrill Prepared Mastercard” option located at the bottom left side of your account.
- In the Skrill Virtual Cards section, click “Add card”.
- We fill out the form indicating the currency for transactions, in order to thus avoid additional fees for currency exchange. We recommend choosing the account currency
, that is, the one that was specified during registration. - Once the system generates the virtual Skrill card, the 16-digit card number will appear on the screen, along with the security code (CVV) and expiration date. The cardholder can use this data to make purchases on the Mastercard network.
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Please note that the card has its own geography of use and is available only in the regions of the European Economic Area, and therefore is not available for order either in Ukraine or Russia.
Skrill plastic debit card
If you need a card to withdraw cash, then the best choice is a Skrill plastic card (Skrill Prepaid Mastercard). There is also a ban on issuing cards in both Ukraine and Russia. Therefore, we will briefly describe the main points of creating a card for those who register a service within the European Economic Area.
The process of obtaining a plastic card is identical to the process of obtaining a virtual one.
After registration, we activate it by entering the last 4 digits of the card and its expiration date. Upon successful activation, the cardholder will receive a PIN code.
The service will take from 7 to 10 days to produce the card. The commission for the order is 10 euros.
If any problems arise during the creation or activation of cards, it is recommended to contact the payment system support service.
VIP accounts
Perhaps it’s worth talking about the Skrill VIP program in more detail, since its conditions are often discussed on forums and in poker rooms. Among the benefits of this status:
- Fast account replenishment
- Free issuance of Skrill Prepaid MasterCard
- 24/7 technical support
- Special promotions, promotions
- 100% refund guarantee and fraud protection
Depending on the volume of transactions carried out, you can receive one of the following VIP statuses:
Topping up Skrill
How to top up your Skrill account
How to top up your account in the Skrill payment system:
- We enter your personal account.
- Go to the “Replenishment of Funds” section.
- Choose a suitable payment method.
- We enter the data requested by the system, including the payment direction and amount;
- We confirm the action.
- We are waiting for it to arrive on your account.
You can top up Skrill in the following ways:
Manual bank transfer.
Credit or debit card.
Newteller payment system.
Cryptocurrencies Bitcoin or Bitcoin Cash.
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Please note that regardless of the direction of replenishment, the service charges 1% for the services provided.
Next, we will look at the process of replenishing your Skrill account in two ways: using cryptocurrencies and using a credit card.
Top up your account using cryptocurrency
In the first case, in the “Replenishment of funds” section, select the “Bitcoin & Bitcoin Cash” tab, where we click “Top up your account”.
In the window that appears, enter the replenishment amount in US dollars or any other currency and click “Next”.
Please note that it is necessary to take into account the limits set for one direction or another, which may differ from each other.
Top up your Skrill account
In the window that appears, we familiarize ourselves with the previously specified information, and then click “Go to Bitcoin & Bitcoin Cash.”
Top up your Skrill account
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Skrill cooperates with the cryptocurrency processing service BitPay, through which payments will be made directly.
In addition to Bitcoin and Bitcoin Cash, the service currently supports the Ethereum cryptocurrency. Thus, on the new page we select the required cryptocurrency.
Top up your Skrill account
After which the system will provide the amount in the selected cryptocurrency (in this case, BTC), a QR code for payment and offer to make a payment. So, scan the QR code and confirm the action by clicking on the “Top up wallet” button.
Top up your Skrill account
The invoice must be paid within 15 minutes
or request a new one. As a result of the transaction, we are waiting for the account balance to change in the Skrill account.
Top up your account using a credit card
So, in the “Replenishment of Funds” section, select the “Credit and Debit Card” tab, where we click “Top up your account”.
Please note that the first time you request funds, the service will require you to enter data, including address, city, zip code, date of birth and mobile number.
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All information is filled out in English.
Top up your Skrill account
Click “Next” and proceed to confirm your mobile phone by entering the verification code sent to the specified number.
Skrill account protection
The system gives you 15 minutes to enter the code. Usually the code arrives instantly, but if within a given time the message has not been received. You can use the function to send a new code or request confirmation by email.
So, enter the code and click on the “Check” button. In the next window, the system will notify the client that the verification has been completed and will ask to create a PIN code, which will be subsequently requested upon sending and receiving funds and to enter the payment system.
Skrill account protection
Thus, the service tries to protect the client from theft of funds by third parties who deliberately took possession of the user’s personal data.
After completing the verification, we proceed directly to replenishing the account from a credit card, entering data on the card number, expiration date and CVV (three digits located on the back of the card) into a new form.
Top up your Skrill account
As you complete all the items, click “Add card and continue.”
To continue, the system will prompt you to enter an amount, the upper limit of which is $830.62 for “unverified” users; the minimum is $1.11.
As already indicated, to increase the limit it is necessary to undergo more complex verification.
Top up your Skrill account
At the bottom of the window, check the box about the areas of use of the card (fantasy sports, gambling, lotteries, etc.). If you check the box next to “No”, it will be prohibited to use funds for such purposes. Click “Next” and go to the page of the bank that issued the card.
Top up your Skrill account
We enter the password sent to the phone on behalf of the bank and confirm by clicking on the “Submit” button.
Although Skrill promises to deposit funds within 20 minutes, they usually arrive in your account within a few minutes.
Skrill wallet: general information about the company
Let's list the key dates in its history:
- 2001 – creation of the EPS. The company that owns the business changes its name to Skrill Group in the same year;
- 2002 – the payment system website was created and Moneybookers was the first company to organize the issuance of electronic money in the EU in accordance with the requirements of the FCA (British regulator);
- 2007 – Investcorp Technology Partners buys out the payment system for €105 million;
- 2009 – started working with eBay. In the same year, Investcorp Technology Partners puts EPS up for sale, the price tag is already £365 million;
- 2010 - The Sunday Times named this project the leader in terms of growth among British private equity companies;
- 2011 – Payolution becomes part of the Skrill Group. Now you can pay in installments and pay invoices through EPS;
- 2012 – launch of the Skrill 1-Tap wallet for making one-touch payments via mobile devices;
- 2013 – Paysafecard joins the Skrill system;
- August 2013 – Skrill sold to CVC Capital Partners for €600 million;
- 2015 – Optimal Payments (owned by Neteller, a direct competitor of Skrill) acquires Skrill Group for €1.1 billion. In the same year, the acquisition of Ukash (the English equivalent of Paysafecard) ends;
- 2016 – withdrawals in rubles to an account in a Russian bank began to be supported. In the fall of the same year, the ability to replenish your account and withdraw money to accounts and cards in American dollars was disabled. With VISA cards this possibility remains;
- November 2016 – Skrill MasterCard prepaid cards stopped working outside SEPA countries. But they can still be used in Russia;
- January 2022 – replenishment of accounts via MasterCard cards is disabled. It is still possible to withdraw money in this direction.
Withdrawing money from Skrill
How to withdraw funds from Skrill
In order to withdraw funds from your Skrill account, you need to do the following:
- Login to your Skrill account.
- Select the “Withdrawal” section on the left.
- Click on one of the proposed options.
- We enter all the data requested by the system.
- Enter the sending amount.
- We confirm the conclusion.
- We are waiting for receipts to the account of a third-party resource.
Note that the choice of directions for withdrawing funds from the service is quite meager. Sending can be made to a bank account or bank card.
Next, we will look at the process of withdrawing funds from a Skrill account to a credit card.
Accordingly, in the “Withdrawal” section, select the “Credit and Debit Card” direction. The system will redirect to a page that will provide information about possible withdrawal directions.
Withdrawing funds from your Skrill account
After reviewing the information, click “Add card” and get to a page requesting information about the owner’s card. In the form that appears, enter data about the card number, expiration date and CVV (three digits located on the back of the card)
Withdrawing funds from your Skrill account
For regular withdrawals to the same card, it is recommended to save the data. This will make the withdrawal process easier in the future and save time for the account owner.
Next, click “Add card and continue.”
Detailed instructions for withdrawing Skrill to a bank card are in the video below:
How to withdraw funds from Skrill
If the user makes a withdrawal to a Visa card, the system will ask him to authorize the card for a payment of $2.22. To do this, you will need to enter the CVV code.
After confirmation of receipt of payment, the user will be able to finalize the withdrawal.
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Note that withdrawal to a card will cost the user 7.5% of the payment amount. As you can see, pleasure is not cheap.
User reviews
For Russians, Skrill is not very attractive due to its limited functionality. It is recommended by only 20% of those who left feedback on the payment system. If you compare it with WebMoney or Yandex.Money, the latter turn out to be much more profitable. What advantages do users of the online service highlight:
- The e-wallet is accepted for payment by many foreign sites. The same cannot be said about domestic online stores.
- Your personal account is simplified as much as possible; you can use it without any problems.
- The commissions are quite reasonable. On average, a transfer costs 1% of the amount, except for withdrawal to a card, which costs 7.5%.
- You can purchase cryptocurrency directly from your e-wallet.
- High speed of payments.
- Traditionally, the European payment system uses a high security standard.
But Skrill also has disadvantages, which users write about in their reviews:
- An electronic account without verification may be blocked. To remove the block, you will still have to verify your identity. If you provided fictitious information during registration, this will not work. This means you will lose money too.
- Technical support for users from Russia leaves much to be desired. If you have any difficulties, you will have to wait a very long time for an answer.
If you use the service in accordance with its rules, problems usually do not arise. Therefore, take the time to read the Skrill terms and conditions before registering. There are not many available functions here for Russians, but if you don’t plan to pay for utilities and a cell phone, the set of options is quite acceptable. However, it is not worth storing large amounts in an electronic wallet due to the high risk of blocking.
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Advantages and disadvantages of Skrill
Pros and cons of Skrill
Using the Skrill service has many advantages:
Actively encourages the use of the platform for trading Forex and cryptocurrencies.
Offers various promotions from partner companies.
Allows payments for riskier industries, such as gambling.
The system covers a wide range of countries.
Offers fast transactions (except bank transfer).
Simple verification.
Ability to link multiple debit/credit cards to your Skrill account.
Transfers in the system without commissions.
Reliable protection (personal data is encrypted).
The size of the commission decreases as the volume of transactions increases.
But there are also plenty of disadvantages:
High commission for withdrawing funds from the system.
Low limits for unverified users.
The need for identity confirmation to promote them.
Inability to order Skrill cards for users from Russia, Ukraine, Belarus.
Skrill drives international transactions, and therefore sometimes a business in a riskier country may have no choice but to become a client of this payment system.
Skrill competitors
Competitors of the Skrill payment system
In the field of online payments, providers are in a constant struggle for primacy in the market. Below we will look at the main competitors of the popular payment system Skrill.
Neteller
Neteller is a payment system supported by Skrill for topping up your account balance. Both payment systems are very similar in functionality and areas of use - the field of gambling. So, Skrill is more suitable for players who work with small amounts, and for those who work with large amounts, Neteller is best suited.
The owner of both payment systems is PaySafe Group. And although Neteller has been on the market since 1999, the payment service has been under the leadership of a new owner since 2015.
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Review of the Neteller payment system
PayPal
PayPal is an e-commerce company focused on making it easier for parties to interact through online payments. PayPal was created in 1998 and is one of the most popular payment systems.
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Commissions on the service are inflated, just like in Skrill, so the platforms are constantly competing with each other for market share.
Unlike Skrill, the account is linked to the user's credit card or bank account. To fully use the service, verification is also required.
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Paypal in Ukraine: registration, withdrawal, replenishment, commission
TransferWise
Using EPS
TransferWise is an Estonian company established in 2015. The service positions itself as a peer-to-peer fund transfer platform and offers services on all continents. Unlike Skrill, the service uses mid-market rates and does not charge additional fees, which contributes to the transparency of the commission structure. Clients can register as an individual or on behalf of a company.
TransferWise is one of the leaders in international online money transfers. Like Skrill, the company is regulated by the UK Financial Conduct Authority (FCA).
Payoneer
Payoneer is a popular Skrill alternative created in 2005. Unlike its competitor, the main use of the Payoneer system is payment for freelance services. The payment system also supports transfers within the system, both to cards and bank accounts. Like Skrill, the service issues its own prepaid Payoneer Debit Mastercard. The service’s commissions are significantly higher than Skrill’s – up to 2% per transfer.
WebMoney
WebMoney is a Russian payment system created in 1998.
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The service is very popular among users of the CIS countries, but at the moment WebMoney is prohibited in Ukraine, and therefore, users who previously freely interacted with this system have to use a VPN.
The advantage is the ability to purchase shares of public companies through the service and subsequently receive dividends on them.
Like Skrill, in addition to fiat currencies, it supports payments in cryptocurrency.
