If you are already familiar with the internet world, you must have heard of Skrill. This is a company dedicated to offering a digital payment and income service. Over the years, it has been evolving. It currently represents a financial service capable of functioning as a digital wallet for currencies and cryptocurrencies.
On the other hand, its weight in bookmakers is immense. This is one of the most widely used payment methods for most recognized bookmakers. Its relevance does not stop there. It is also found in countless online brokers due to its different functions.
With this Skrill review, we summarize its most relevant features if you consider adding Skrill as a payment method.
How does Skrill work?
The purpose of the platform is straightforward: to send money. However, how you will make the payment varies if it is traditional money or cryptocurrencies.
As a first step, you must open a Skrill account. The simple process requires you to complete a series of personal data on the platform. First, you must affirm that you are a user over 18 years old. This is an indispensable requirement if you wish to open a Skrill account.
It should be noted that depending on your location. You may not have Skrill available. You can access an extensive list of countries where Skrill is not available.
If you wish to make a payment with real money, you will only need the email address associated with the recipient. Additionally, you have a $7 discount on your first transfer.
When making the transfer, you can visualize the money and the currency it will receive. In the same way, you can see the taxes applied and the duration for the payment to be effective.
You can choose from more than 40 currencies and send money to bank accounts, mobile wallets, mail, or phone numbers.
On the other hand, the platform allows you to instantly convert fiat money into crypto. You must select the cryptocurrency you are interested in from the catalog and confirm the purchase. The purchase must be more than $10.
How much does it cost?
When you make a shipment, you will be credited with many taxes. These will depend on the type of shipment you have made. Bank transfer shipments are free of charge, as are receipts. However, if you make a payment by debit card, Paysafecash, Sofort, or Klarna, there will be a commission of %1.
If you make payments by credit card, this fee will increase by 2.99%. Additionally, there may be fees of up to 4.99%, depending on the type of currency and exchange rate.
At the same time, there are commissions at the time of deposit. These depend on the currency, funding method, and the user’s location. For example, the tax is zero if you deposit with Visa, Paysafecard, Mastercard, or a bank transfer.
The same applies to withdrawals, with a $5.50 fee if you withdraw from the United States to a bank account.
On the other hand, you must maintain activity in your Skrill account. For example, if you do not make any payments for 12 months, $5 will be deducted from your account funds.
Payment methods
The main payment methods in Skrill are bank transfers, debit, and credit cards. Regardless of the way, the process is straightforward. You only need to provide information regarding your methods, such as the card number or expiration date.
You can save the method in your account for any future use. This way, you avoid going through tedious processes every time you want to make a payment.
Only card payments are instantaneous. If you use bank transfers, the funding may take 1-2 business days to become effective.
Is it reliable?
Skrill has created a reputation of security certified by its users. In addition, they have a PIN authentication system that increases the security of your profile. This is used during login or when completing a transaction.
This PIN must comply with a series of conditions that prevent it from being an easily predictable code.
In addition, obtaining the PIN in case you have forgotten it is not an easy task. You must contact Skrill’s technical support. This way, a person other than you is prevented from accessing this information.
On the other hand, the platform prevents transfers and payment methods not in the user’s name. In addition, you cannot register any financial data, not in your name. This prevents someone else from using your credit or debit cards in case of theft.
Customer Service
This section is complete. You can answer any question through Skrill support. In addition, you have social networks, email, and phone numbers to communicate with customer service.
In addition, you have a section of frequently asked questions and a handy search engine.
Pros:
High security.
International transfers.
Multiple deposit methods.
Mobile app.
Simple payment processes.
Cons:
High fees.
Somewhat Slow transfers.
Skrill is one of the best financial services available. The security it presents is its most vital point. You will not have to worry about protecting your account on this platform. In addition, the number of steps required to make payments makes theft and scams impossible.
On the other hand, you have many customer service methods. This facilitates your communication with Skrill support. In turn, it avoids misunderstandings and phishing.
However, the fees are pretty high. Other services have slightly more competitive prices.
Nevertheless, Skrill’s security, dynamism, and ease make these fees worth it. There are few servers capable of keeping your money in such a secure position as they do. For this reason, we recommend using the platform as one of your primary payment methods.
If you enjoyed this Skrill review, we invite you to look at our finance category for other great reviews.
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