There are many ways by which money can be transferred electronically, and an important prevalent means is the use of e-wallets. E-wallets are digital online wallet services that make it possible to make online transactions, including payments, funding of betting wallets, and money withdrawals from betting wallets. Skrill is a perfect example of an e-wallet. Skrill is a digital wallet platform that enables you to make online payments and money transfers. Formerly known as Moneybookers, Skrill allows you to make deposits to your online casino wallet and withdrawals. Transfer of money internationally is also very much possible with your Skrill account. What's so exciting is you only need an email address tied to your Skrill account to receive money using Skrill. Skrill is a subsidiary of the Paysafe Group, which also operates the Neteller e-wallet.
Getting to operate a Skrill account is very easy. Let's look at the process of signing up for a Skrill account if you don't have one yet. It's free to sign up on Skrill, and these are the steps to take
Verifying your Skrill account involves verifying your identity with valid government-issued documents. This is an easy process that involves you clicking on "verify your identity." You would be required to upload one of the following documents
The use of the Skrill mobile app is also advised as this is a faster way of verifying your identity on Skrill; the steps to achieve this using the Skrill mobile app are shown below.
You can also use your Facebook account for verification via your Facebook profile. This option is not open to all countries except selected few countries.
Now that your Skrill account is verified and running, how do you complete the transactions using it? Skrill transaction is completed in easy steps, be it withdrawals or deposits. To use your Skrill for fund transfer, your account must be funded. Funding your Skrill account can be done using the deposit section of your account in one following way.
Funding directly from your local bank is an unfortunately slow option. Deposits usually take between 2-5 business working days. It's important to fund from a bank account bearing your name.
The use of Credit/Debit cards is instant and may include transaction charges. Types of Debit/Credit cards supported include Visa, MasterCard, Maestro, Postepay, JCB, AMEX, etc. To fund your account with your Credit/Debit cards, follow these steps.
Note that if you don't have a linked card to your Skrill, click on "+Add card" and supply the correct card details. Click on "ADD CARD" and "continue." For Credit/Debit card option, prepaid cards are not accepted. Funding is only possible with cards bearing your name.
Skrill can be funded with e-wallets. A prevalent means is the use of Neteller to fund your Skrill. Financing with Neteller is straightforward, and transaction time is fast. Funds are seen instantly in your Skrill. The following steps show how Neteller can be used to fund your Skrill.
You can fund your Skrill with bitcoin or bitcoin cash using the following steps.
If you use a casino that accepts Skrill as a medium of deposit, then these steps will generally work irrespective of the casino you play at. You locate the cashier option on your casino dashboard and choose "deposits" to make a deposit. Choose Skrill as your preferred choice of payment. Input all necessary information to complete the deposit. Once this has been achieved, your casino account should reflect your deposit within minutes.
Using Skrill to make withdrawals is as easy as making deposits. To withdraw from your casino account using Skrill, locate your "cashier" option on your casino website dashboard, click on withdrawals, and choose Skrill as your medium of withdrawal. Follow the steps outlined by submitting the required details to complete the withdrawal.
Withdrawing funds from your Skrill account to your bank account is possible and easy to do. Transfers to bank account are available for all countries that Skrill support. To make transfers into your bank account, follow these steps below.
Note that requested funds through bank account withdrawal can take 1-5 business working days to complete. Make sure the bank account used is in your name as with your Skrill account.
There are numerous advantages of using Skrill as a medium of funds transfer. Some of those advantages include.
Skrill is a highly secured form of online payments and funds transfer. Skrill is highly regulated by the Financial Conduct Authority (FCA), meaning that it plays by high standards of security measures. Customer data and banking information are secured on the website using the most top form of SSL encryption to prevent hacks and sensitive data theft.
Skrill has adopted a highly secure way of handling its transactions by using the "two-step authentication." Skrill uses two-factor authentication through a Skrill login code sent to your registered Skrill email address or via SMS. This additional layer of security means you don't have to worry about Skrill getting hacked or having your data compromised on an external server. Skrill also uses advanced fraud detection measures to ensure that Skrill users do not fall prey to unscrupulous individuals and organizations out there when doing online transactions.
Skrill is constantly innovating in the payments and e-wallet industry by adding new layers of security to its service. Skrill works with high-tech security firms and cybersecurity experts who continually think of the latest ways to protect Skrill users from cyber attacks, malware, or other online threats such as phishing scams.
Skrill's security reputation is manifested through the numerous online casinos that trust them as a medium for which casino players can transfer funds. This gives customers peace of mind knowing fully well that their money is in safe hands.
Both PayPal and Skrill are renowned for their tight security systems as they employ one of the most sophisticated website security encryption technology to shield hacks and intrusion. Skrill uses additional two-factor authentication to protect user account against fraudulent activities.
PayPal doesn't use two-factor authentications but employs other security measures called the PayPal security key. PayPal security key acts as a form of second authentication factor in the form of a unique OTP (one-time password) for each login.
Both Skrill and PayPal also employ email confirmations when transactions occur on your account. This acts as a form of alert mechanism to keep you aware of activities going on in your account. When you didn't initiate a transaction, you can quickly contact support for help in stopping fraudulent transactions.
In conclusion, Skrill and PayPal have top-notch security built into their websites to keep users' accounts safe. Both Skrill and PayPal are equally reliable. Skrill is more popular among online gamblers because they have a wider range of supported online casinos, particularly in the United Kingdom.
You don't have to worry about your currency when using Skrill, as Skrill supports virtually all currencies. Skrill is a globally accepted brand when it comes to online payment and funds transfer. Skrill users can directly deposit funds into Skrill from their bank accounts using local currencies.
Skrill is very fast when it comes to processing transactions. You don't have to worry about delays when you want to fund your casino account on the go. Withdrawals are also fast and reflect in your Skrill wallet in minutes. Skrill is one of those payment processors that even Western Union would envy. Skrill boasts an industry-leading processing time for online transactions.
There is also the benefit of getting a Skrill Prepaid Mastercard which you can use to make withdrawals on ATM terminals around the world. Skrill Prepaid Mastercard gives you spending flexibility everywhere. VIP status users can get this card for free, while other users can order the card for just €10 service charge and €10 in an annual fee. Skrill Prepaid Mastercard is compliant with the strictest bank security standards.
While banks may go on holiday and not work on weekends, Skrill gives you a 24/7 payment and funds processing service. You don't have to worry about the weekends or the holidays when you make use of Skrill.
Using Skrill for funds transfer is not free. Specific fees are attached depending on the form of transaction you are performing and the channel you are using. When making deposits to your Skrill account, it's totally free for bank transfers and Maestro Cards. Making use of Visa cards brings a small fee. Irrespective of the method you are employing for funds deposit, associated fees are clearly shown.
Withdrawals also incur some fees depending on the mode of withdrawal you choose. Withdrawal to your bank account attracts a flat charge of £4.67, while the use of Visa cards attracts a 7.50 % charge of your withdrawal amount. The use of e-wallets attracts a charge of 1.45% of the withdrawal amount, while Skrill Prepaid Mastercard through ATM terminals attracts a 1.75% charge.
When you receive money with your Skrill account, it's free for personal Skrill accounts. However, transferring funds from your Skrill account to another Skrill account involves a fee depending on the transfer mode and country of residence of the destined funds. Usually, 1.45% of the transferred funds are charged as a fee.
It's always good to keep your Skrill account very active as inactive Skrill accounts incur a monthly service fee of £5 from available funds in your account. Always make a login or a transaction at least once in 6 months to keep your Skrill account active. Skrill does not close accounts because of inactivity; they charge a fee to recover costs for maintaining the Skrill account.
Skrill is a top-notch e-wallet for online transactions and funds transfers. It's fast and very secure if you regularly transfer money to and from your casino account. It's advisable to create an account now if you don't have one, as this will make your online transaction extraordinarily simplified and less stressful. Skrill has a global presence, so your Skrill wallet works internationally, and with the prepaid Skrill Mastercard, Skrill is a must for all online casino enthusiasts.