Skrill (formerly known as Moneybookers) is a payment transaction service. Providers such as Skrill are also known as ”e-wallets”, as you can store funds and use those funds to pay other e-commerce businesses, such as online shops.
Skrill is a popular payment method in online casinos due to its high transaction speed, security and additional perks for users. In spite of its popularity, one should always consider all the necessary information before choosing a payment method.
For this reason, we’ve listed the pros and cons, outlined how to use it, and identified the best casinos for Skrill. Keep reading to make an informed decision!
Please note: Due to UK regulations, as of 14th April 2020, you will no longer be able to make payments via Skrill if you have topped up using your credit card.
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Using Skrill as a deposit method
Like its competitor Neteller, Skrill is now a frequent deposit method. Currently, over 1.000 online casinos accept Skrill to make deposits with, and the number keeps rising.
This is because signing up for a Skrill account can be done in a few minutes. Deposits are similarly easy to make. A fee of the total amount sent applies to every Skrill transaction. This is in many cases lower than the card fee charged by many casinos or the charge that automatically applies for using your bank account or card at an overseas website.
Additionally, you can either link your debit card to Skrill or transfer funds to and from your bank account, giving you several payment methods while speeding up the overall process.
Skrill deposit step by step
To use Skrill as a deposit method, you first need to make sure you have funds available in your Skrill account. You can either manually deposit funds in your Skrill account or link your bank account or debit card directly to Skrill. Linking your account or debit card allows you to instantly transfer funds using Skrill, which is easier and cheaper than using your bank account or card as they are.
If you want to manually deposit funds to Skrill, the process has to be verified by your bank first and thus takes 2 to 5 days.
Once you have funds available, making a deposit at your online casino is simple. In your account, Skrill will appear as a deposit method. Then you will be asked to log in to your Skrill account and redirected. You can then transfer an amount of your choice to your casino from Skrill’s own website. Once you are done, Skrill redirects you to your casino’s webpage.
The money should appear in your casino account either instantly or within a few minutes.
Using Skrill as a withdrawal method
This service can be used both as a deposit and withdrawal method. It can happen that Skrill is available to deposit but not withdraw money at certain casinos, but that case is very rare. Since Skrill withdrawals are quick and easy to do, it is a popular method with players at online casinos.
How fast are Skrill withdrawals?
Withdrawals with e-wallets are generally the fastest withdrawal methods around. A withdrawal using Skrill appears in your Skrill account within a few hours, 24 hours at most. Some casinos even instantly process Skrill withdrawals or make that an option for their VIPs.
Skrill withdrawal step by step
To make a withdrawal, all you need to do is select Skrill as a withdrawal method in your casino account. Then specify the amount of your winnings you would like to transfer, and provide the email address associated with your Skrill account. Your casino will then confirm your withdrawal request.
Pros and cons of using Skrill
There are many pros to using Skrill, as it is a service that is easy to sign up for and simple to use. The only general negative point that you need to be aware of revolve around fees. Additionally, Skrill users may not be eligible for welcome bonuses at some casinos. Other than this very rare point, Skrill is a rightfully popular casino payment method.
To summarise the points you need to keep in mind:
- Accepted at over 1000 online casinos
- Easy to use for deposits and withdrawals
- Quickest withdrawal method for your winnings
- VIP program available for additional rewards
- Residents of many countries can sign up for a Skrill Mastercard linked to their account
- Lower than average fees
- Fees for transactions can reach 6% if you have to transfer a non-native currency
- Skrill users may not always be eligible for a welcome bonus
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Skrill payments for UK gamblers
Like with Neteller, gamblers from the UK may not be eligible for a welcome bonus if they want to use Skrill at certain casinos.
Generally, however, Skrill is a very good option for UK players. As a company founded in the UK, Skrill understands its customers. It also offers a UK helpline for any question regarding transactions. Furthermore, Skrill is affiliated with several casinos that are not only popular with UK players but also regulated by official UK bodies. Skrill itself is regulated by the British Financial Conduct Authority.
Please note: Under new regulations, UK players who pay via Skrill will also have their transactions screened to ensure their e-wallet has not been funded via credit card.
Skrill is a service regulated by the UK’s own Financial Conduct Authority and undergoes regular audits.
Transactions with Skrill are deemed as secure by players, and Skrill is confident enough in its own service to offer a VIP program that gives you perks and rewards for processing large sums of money over a quarter.
Should you have a problem you can talk to the customer service or make use of customer protection that in many cases will give you your money back if certain conditions have been met.
Skrill vs. Trustly for online players
Trustly is another e-wallet service. As such, both have the advantage of quick withdrawals. However, Trustly isn’t offered in nearly as many countries or even online casinos. Trustly accounts can only be linked to certain banks, making the service not as widespread and accessible as Skrill.
Alternative payment methods to Skrill
When it comes to deposit and withdrawal speed as well as security, any other current e-wallet service works as a good alternative to Skrill. The most obvious choice is certainly Neteller, as most casinos that offer Skrill also offer Neteller.
If you would rather use a service that isn’t linked to your account, you can still use Skrill and just make manual payments, which reduces the risk of fraud and thus money loss. Additionally, you can go fully prepaid by using a prepaid debit card or using PaysafeCard to avoid fees and give you some added security.