Skrill Money Transfer Review

Are you looking for a reliable and convenient way to send money online? With so many options available, it can be overwhelming to choose the right service. Skrill is one such platform that claims to offer fast, secure, and low-cost money transfers worldwide. In this Skrill money transfer review, we will explore the features, fees, and benefits of this platform to help you decide if it is the right option for you.

What is Skrill Money Transfer?

Skrill is an online payment and money transfer platform that allows users to send and receive money globally. It was founded in 2001 and is now owned by Paysafe Group, a leading global payments provider. Skrill offers services such as online payments, digital wallets, prepaid cards, and money transfers.

How Does Skrill Work?

To use Skrill, you need to sign up for an account on their website or mobile app. Once you have created an account, you can add funds using various payment methods such as bank transfer, credit card, or debit card. You can then send money to anyone with a Skrill account or make payments to online merchants that accept Skrill.

Features and Benefits of Skrill Money Transfer

Global Reach

One of the key advantages of Skrill is its global reach. With Skrill, you can send and receive money in over 40 currencies to more than 200 countries and territories worldwide.

Fast and Secure Transactions

Skrill claims to offer fast and secure transactions, with most transfers completed within a few hours. They also use advanced security measures such as two-factor authentication and encryption to ensure the safety of your transactions.

Low Fees

Skrill fees are generally lower than traditional bank transfers or other online payment platforms. The fees vary depending on the amount and currency of the transaction, as well as the payment method used. However, Skrill offers transparent pricing, and you can see the exact fees before confirming the transfer.

Multiple Payment Options

Skrill offers multiple payment options, including bank transfer, credit card, debit card, and digital wallets such as Neteller and Paysafecard. This makes it convenient for users to add funds and make transfers using their preferred payment method.

Skrill Prepaid Mastercard

Skrill also offers a prepaid Mastercard that allows users to withdraw cash at ATMs or make purchases at any merchant that accepts Mastercard. The card is linked to your Skrill account and can be used globally.

Skrill Money Transfer Fees

Skrill fees are generally lower than traditional bank transfers or other online payment platforms. The fees vary depending on the amount and currency of the transaction, as well as the payment method used. Here is a breakdown of Skrill’s fees:

  • International Money Transfers: 1.45% – 5.5% + FX fee
  • Receiving Money: Free
  • Adding Funds: Free – 5% (depending on payment method)
  • Withdrawal to Bank Account: $5.50
  • Skrill Prepaid Mastercard: €10 per year (after the first year)

Is Skrill Money Transfer Safe and Reliable?

Skrill claims to use advanced security measures to ensure the safety of your transactions. They also have a dedicated fraud team that monitors transactions for any suspicious activity. Skrill is regulated by the Financial Conduct Authority (FCA) in the UK and is licensed to operate in the European Union. Skrill is also compliant with the Payment Card Industry Data Security Standard (PCI DSS).

Skrill Money Transfer Review: Pros and Cons

Pros

  • Low fees compared to other online payment platforms and traditional banks.
  • Global reach, allowing users to send and receive money in over 200 countries and territories.
  • Fast and secure transactions, with most transfers completed within a few hours.
  • Multiple payment options, including bank transfer, credit card, debit card, and digital wallets.
  • Skrill Prepaid Mastercard offers additional convenience and flexibility.

Cons

  • Not all countries and territories are supported, so it may not be the best option for everyone.
  • Some users have reported issues with account verification and frozen funds.
  • The Skrill Prepaid Mastercard has an annual fee after the first year.
  • The exchange rates used for currency conversions may not always be the most competitive.

Skrill Money Transfer Review: Conclusion

Overall, Skrill is a reputable and convenient option for sending and receiving money online. With low fees, multiple payment options, and global reach, it offers a competitive alternative to traditional banks and other online payment platforms. However, as with any financial service, it is important to do your own research and carefully consider the pros and cons before deciding if Skrill is the right option for you.

Skrill Money Transfer Review: FAQs

  1. Is Skrill safe to use for money transfers?
  • Skrill uses advanced security measures such as two-factor authentication and encryption to ensure the safety of your transactions. They are also regulated by the FCA in the UK and compliant with PCI DSS.
  1. How long does it take for Skrill money transfers to complete?
  • Most Skrill money transfers are completed within a few hours.
  1. What payment methods can I use with Skrill?
  • Skrill offers multiple payment options, including bank transfer, credit card, debit card, and digital wallets such as Neteller and Paysafecard.
  1. Are there any fees for using Skrill?
  • Skrill fees vary depending on the amount and currency of the transaction, as well as the payment method used. However, they offer transparent pricing, and you can see the exact fees before confirming the transfer.
  1. Is the Skrill Prepaid Mastercard worth getting?
  • The Skrill Prepaid Mastercard can be a convenient option for withdrawing cash at ATMs or making purchases at any merchant that accepts Mastercard. However, it does have an annual fee after the first year, so it may not be worth it for everyone.