Skrill is an electronic payment system, which was established in London in June 2001. Initially, it was known as Moneybookers. After 6 years of its existence, the Moneybookers payment system was sold to Investcorp Technology Partners. In 2010, Moneybookers which had already become quite famous, started a re-branding exercise . This included several stages, and in 2012 the former name - Moneybookers - was completely substituted for the new one - Skrill.
In March 2015, Optimal Payments, the parent company of the Skrill's rival Neteller, announced its official proposal for the acquisition of the Skrill Group for €1.1 billion. The acquisition was finalized in the third quarter of 2015.
Skrill is operated under the supervision of the UK. Its activities are regulated by the Financial Conduct Authority (UK). The company is headquartered in New York City and London.
How to Use Skrill
Signing up for an account is easy and will only take a few minutes. After you have opened your account, you will have to verify it using the verification code that will be automatically sent to your email. The process can take up to two days. Once your account has been activated, you can choose to register a credit/debit card for your account. Skrill accounts can be held in any of the major currencies, but once the first transaction is made it is not possible to change it. With Skrill you can send and receive money instantly between nearly 200 countries and in 40 currencies.
For users, Skrill charges a fee of 2.9% to load an account using a Visa or MasterCard card, and a fee of 7.0% to load an account using a Paysafecard prepaid card. Withdrawing funds from a Skrill account costs $5,50, and sending money to another Skrill user costs 1.9% of the transaction (up to a maximum charge of $10). There is also a monthly inactivity fee of $1.00 starting in the 13th month of inactivity.
If you regularly play poker and casino games, the best way to deposit/withdraw money at online casinos is to use the Skrill payment system. The main advantage for players is that deposit/withdrawals at casnos are not subjected to any additional fees, so the deposit/withdrawal rate is 0%.
For transactions involving currency conversion, Skrill adds a fee of 3.99% to their wholesale exchange rates. The exchange rates vary and will be applied immediately without notice to you.
Benefits and Limitations
One of the biggest advantages of Skrill is dual authentication through the mobile app. It means that your security is taken care of at a very high level.
Even more benefits are available to you when you become a VIP. To become a Skrill VIP you must transfer at least $6, 000 to merchants in a quarterly period. Benefits include a personal account manager that speaks your language, invitations to special events and promotions such as tournaments, cashback campaigns, bonuses and more.
However, to be objective, it’s important to note that the not-for -profit Better Business Bureau currently has Skrill USA at a "D-" rating as of April 2016, the result of 66 complaints closed with BBB in last 3 years. As of August 2016, CardPaymentOptions has rated Skrill with 1.8 out 5 based on numerous customer complaints, where in many instances the company withheld funds from customers and merchants. Despite all of that, we still consider Skrill as a good choice, maily for people outside USA. lts website is available in 12 languages, including Russian, is PCI/DSS-compatible and protected by SSL-based 256-bit encryption.
A l ist of all the casinos using Skrill, known also as an alternative to PayPal for European customers, can easily be found through the filter on our website. In some casinos, you will notice that deposits made by Skrill are excluded from deposit bonuses, but on the other hand, some other casinos can offer you some extra bonuses for Skrill deposits.