Review: Skrill online payments and money transfers
This easy and convenient payment service comes with high fees for sending and withdrawing money.
To transfer money with this e-commerce site, you need to create a free Skrill account and deposit funds into your Skrill wallet using an electronic transfer or a credit or debit card. You can withdraw your funds to a bank account or send money to other Skrill users’ wallets.
Skrill can convert your money into 40 different currencies and offers a high maximum transfer amount. While it does work in Australia, you have to convert your AUD into USD to use it, which means extra fees.
Min. Transfer Amount
Max. Transfer Amount
|Product Name||Skrill International Money Transfers|
|Min. Transfer Amount||AUD 80|
|Max. Transfer Amount||AUD 15,000|
|Transfer Methods||Online, Bank Account to Bank Account|
|Transfer Options||Regular payments, One off payments|
Minimum transfer time
|Customer Service||Phone, Email|
|Available Currencies||AUD, BDT, EUR, GBP, IDR, INR, KES, LKR, MXN, MYR, NPR, PHP, PKR, PLN, THB, USD, VND|
What is Skrill?
Skrill, formerly known as Moneybookers, is an online e-commerce service that lets you send money both domestically and internationally between a variety of currencies. Money sent through Skrill can be delivered directly to bank accounts or held in a third party mobile wallet, depending on what the customer wants.
What's in this review?
- What is Skrill?
- Is Skrill safe?
- Skrill reviews and complaints
- Skrill fees and exchange rates explained
- What types of transfers does Skrill support?
- How do I send money through Skrill?
- Is there a Skrill app?
- What else can I use Skrill for?
- How does Skrill compare to other money transfer services?
- Bottom line
- Frequently asked questions
Why should I consider Skrill?
- Diverse sending options. Send through both Skrill money transfer and Skrill-to-Skrill to reach a global network.
- Receiving money is free. Recipients never pay fees to receive money.
- Skrill card. Withdraw cash at ATMs and pay online and in-store with your Skrill balance.
What should I watch out for with Skrill?
- Doesn't use the mid-market rate. Skrill reserves the right to add a margin markup on top of the mid-market rate. Be sure to double check fees and exchange rates before sending your transfer.
- Limited currency and country support. International options are mostly limited to countries that support the Euro and USD.
- Negative reviews. Nearly 20% of Trustpilot reviews for Skrill were Bad when we checked.
Is Skrill safe?
Skrill is licensed and regulated by many different countries and federal organizations, including monetary authorities in the US, UK and EU. Specific features of these regulations require Skrill to:
- Maintain set amounts of capital and liquidity. Skrill is required to maintain a minimum of €350,000 of its own funds at all times.
- Practice safe float management. In order to protect customers' money, Skrill must follow EU Electronic Money Directive protocols to protect customers in the event that the company encounters an insolvency event. In short, this means your money is protected even if Skrill goes bankrupt.
- Pass FCA vetting The UK Financial Conduct Authority performs a test on each member of Skrill Limited senior management to test for honesty, integrity, reputation, competence, financial soundness and capability.
- Monitor and vet all transactions. To prevent financial crime, Skrill must follow legal requirements to check the identity of customers and monitor transactions to detect money laundering and fraud.
Skrill reviews and complaints
What Skrill's reviews look like, accurate as of October 8, 2020.
|Trustpilot||4.4 out of 5 — based on 14,519 customer reviews|
|Monito||8.3 out of 10 — based on staff reviews|
When we checked, 19% of Skrill's reviews on Trustpilot were Bad, which is Trustpilot's name for 1-star reviews. This is something to keep in mind before using the service. A lot of the Bad reviews focus on customers losing money during transfers, and customers having to pay high fees to withdraw money from their accounts. Be sure to read up on Skrill's fees and exchange rates before sending a transfer to make sure you understand exactly what you'll be paying and when fees will be charged.
Skrill fees and exchange rates explained
Australian residents will need to pay when making deposits as well as withdrawals.
- Deposit funds: 2.5%.
- Withdraw funds: 5.50 Euro (in AUD equivalent).
- Send money, receive money: Free internationally, up to 2% for domestic.
- Currency conversion: 3.99% above the mid-market rate, or higher. This fee is applied without notice to you, which means that although it may appear you are getting the mid-market rate for your transfer, you probably aren't.
One additional fee to watch out for when opening a Skrill account is the Stay Active Fee. If you don't login and make at least one transaction every 12 months you'll face a €5 (or equivalent) fee every month until you start using your account again.
Skrill limits customers based on the status of your account, selected payment method and the country you're sending to. It is unclear whether Skrill will allow you to raise these limits, as Skrill reserves the right to vary transaction limits at its discretion.
If a payment is made that exceeds the account limit, Skrill will cancel the payment and notify you immediately so that you may lower the amount in accordance with the limits of your account.
What types of transfers does Skrill support?
Whether you are trying to deposit money into your account or withdraw money after receiving it, Skrill has a few options for you to choose from.
Skill allows deposits in the following ways:
- ACH transfer (Automated Clearing House)
- Bank account wire transfer
- Mastercard or Visa credit card
- Paysafe card
Australian customers may withdraw funds via local bank transfer or through the SWIFT network.
How do I send money through Skrill?
To send money through Skrill you will need to sign up for a free Skrill account. To do this, you'll need to provide:
- Your full name and personal contact information, including your phone number and email address
- Photo ID and proof of residence
The steps to send money through Skrill are:
- Confirm your email address and identity
- Enter banking or credit card information
- Enter recipient information and transfer details
- Confirm all fees and details, then pay for your transfer.
- Track the progress of your initial deposit and any money transfers through your Skrill account
Your recipient will typically receive the funds in 2 to 5 business days.
Is there a Skrill app?
Yes, Skrill has an app on both Google Play and the App Store. The app makes it possible to:
- Manage your Skrill Visa card. Check your balance and add more money to your account on the go.
- Log in using biometrics. Both face and fingerprint recognition can be used to log in.
- Check exchange rates on the go. Current currency exchange rates and fees can be found in the app.
- Send and receive money. Transfer money to friends and family with just a few taps.
- Track your transfer. Real-time notifications on your transaction are available through the Skrill mobile app.
|Reviews accurate as of September 30, 2020|
|Google Play Store||3.8 out of 5, based on 94,325 customer reviews|
|Apple App Store||4.2 out of 5, based on 658 customer reviews|
What else can I use Skrill for?
Skrill offers both personal and business services. Skrill's business services include merchant accounts that can:
- Accept credit card payments
- Handle international transactions
- Create payment corridors in local currencies worldwide
Read our Skrill business e-commerce review for more details on what this service can and cannot do.
How does Skrill compare to other money transfer services?
Enter the amount you want to send and select the destination country, then click Calculate to quickly see what your transfer could look like with our partners.
Skrill's introduction of international money transfers through its service to the US market has certainly extended its global reach. As Skrill continues to expand into the US, expect more countries and currencies to become available for international transfers. If the country you want to send to isn't supported by Skrill, head over to our international money transfers guide to find a money transfer service that works for you.
Frequently asked questions
What's the difference between Skrill and PayPal?
How to cancel a Skrill transfer
How do I delete/close my Skrill account?
How do I contact Skrill customer service?
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