What Skrill Is
Skrill is a digital wallet and money transfer service that lets you send money to other people, pay for things online, and hold funds in an account you access through an app or website. You load money into your Skrill account from a bank account or card, then use that balance to make payments or send transfers. Skrill is owned by Paysafe, a publicly traded payments company, and operates in over 200 countries.
The service sits between you and the merchant or recipient—you're not giving your bank details directly to every place you pay. Instead, you authorize Skrill to move the money on your behalf. This is similar to PayPal in structure, though Skrill is less common in the US and more widely used in Europe, Asia, and for international transfers.
Skrill makes money by charging fees on transfers, currency conversions, and certain account activities. Those fees come out of your balance or are added to the amount you send, depending on the transaction type.
Key Takeaways
- Skrill is a digital wallet where you load money and then use that balance to pay online merchants or send money to other people.
- You can fund a Skrill account with a debit card, credit card, or bank transfer, and withdraw your balance back to a bank account or card.
- Skrill charges fees for most transactions—typically a percentage of the amount plus a flat fee for transfers, and a percentage for currency conversion.
- Skrill is most useful for international payments, online gambling and gaming sites, freelance payments, and situations where you want to keep your bank details private.
- Skrill accounts are not FDIC-insured, so money held in your account is not protected the way a bank deposit would be.
How You Load and Spend Money on Skrill
To use Skrill, you first create an account and verify your identity. Verification usually requires a government ID and proof of address. Once approved, you can add money to your account using a debit card, credit card, or bank transfer. Card deposits are usually instant or within minutes; bank transfers typically take one to three business days.
Once the money is in your Skrill account, you can spend it in three ways: pay online merchants that accept Skrill directly, send a transfer to another Skrill user, or send money to someone's bank account. You can also withdraw your balance back to your own bank account or card, though this usually takes a few business days and may carry a fee.
Your Skrill balance sits in your account until you use it. Unlike a bank account, it does not earn interest and is not insured by the FDIC or equivalent government protection in other countries.
Fees You'll Pay on Skrill Transactions
Skrill's fee structure varies by transaction type and your account status. Sending money to another Skrill user typically costs 1% of the amount (with a minimum fee, usually around $0.50 to $1). Sending to a bank account costs more—often 2% to 3% plus a flat fee of $1 to $2, depending on the country and amount.
Currency conversion fees apply when you send money across borders. Skrill charges a percentage on top of the exchange rate, usually 2% to 4%, though the exact rate depends on the currency pair and current market conditions. If you load money onto your Skrill card (a prepaid card Skrill offers), there may be monthly fees, ATM withdrawal fees, or inactivity fees.
Some transactions are free: receiving money from another Skrill user costs nothing, and paying a merchant that accepts Skrill directly usually has no fee. Always check the fee breakdown before you confirm a transaction—Skrill shows the total cost including all fees before you authorize the payment.
Who Uses Skrill and Why
Skrill is most common among people who need to move money internationally, especially from countries where traditional bank transfers are slow or expensive. Freelancers and remote workers often use Skrill to receive payments from overseas clients because it's faster and cheaper than a wire transfer. Online gamers and people who use betting sites use Skrill because many gambling platforms accept it as a deposit method.
People also use Skrill when they want to keep their bank account details private—for example, when paying an unfamiliar online merchant or making a purchase they prefer not to link directly to their bank. Skrill acts as a buffer: the merchant sees your Skrill account, not your bank information.
In the US, Skrill is less mainstream than PayPal or Venmo, but it's still available and useful for the same reasons. Outside the US, particularly in Europe and Asia, Skrill is a standard payment method on many websites.
How Skrill Compares to Other Digital Wallets
PayPal is larger and more widely accepted in the US, but Skrill often has lower fees for international transfers and is more common outside North America. Wise (formerly TransferWise) is better if your main goal is converting currency and sending money abroad—it focuses on exchange rates and is often cheaper for large international transfers. Venmo and Square Cash are peer-to-peer only and don't work for paying merchants; they're also US-focused.
Google Pay and Apple Pay are mobile wallets that work with your existing bank account or card; they don't hold a separate balance the way Skrill does. Cryptocurrency wallets like those for Bitcoin or Ethereum serve a similar "hold money separately from your bank" function but involve different risks and are not regulated the same way.
The right choice depends on what you're doing: Skrill for international transfers and privacy, PayPal for broad merchant acceptance in the US, Wise for currency conversion, and Venmo for splitting bills with friends.
Security and Fraud Protection on Skrill
Skrill uses encryption to protect your login and transaction data, and requires two-factor authentication (usually a code sent to your phone) for account access. If someone gains access to your account and makes unauthorized transfers, Skrill's fraud policy covers some losses, but the protection is not as strong as a bank's. You must report fraud within a specific timeframe—usually 30 to 60 days—or you may lose the right to dispute the transaction.
Because Skrill is not a bank, your money is not FDIC-insured. If Skrill itself fails or is hacked, your balance may not be protected the way a bank deposit would be. Skrill does hold customer funds in segregated accounts, which provides some protection, but this varies by country and is not may provide.
To protect yourself, use a strong password, enable two-factor authentication, and monitor your account regularly for unauthorized activity. Don't share your Skrill login with anyone, and be cautious about which merchants you authorize to charge your Skrill account repeatedly.
Withdrawing Money from Skrill and Closing Your Account
To withdraw your Skrill balance, you request a transfer to your bank account or debit card. Bank transfers usually take three to five business days and cost 2% to 3% plus a flat fee. Card withdrawals may be faster (one to two business days) but often cost more. Some countries have different withdrawal options—for example, you might be able to withdraw to a local payment method that's faster or cheaper.
If you want to close your Skrill account, you must withdraw or transfer your entire balance first. Skrill will not close an account with money still in it. Once your balance is zero, you can request account closure through the settings menu. Closed accounts cannot be reopened, so make sure you've withdrawn everything before you proceed.
If your account is inactive for a long time (usually 12 months or more), Skrill may charge an inactivity fee or freeze the account. Check your account terms for the specific policy in your country.
Frequently Asked Questions
Is Skrill safe to use?
Skrill uses encryption and two-factor authentication, and is regulated in most countries where it operates. However, your money is not FDIC-insured like a bank deposit. If you use Skrill for small amounts or short-term transfers, the risk is low. For large sums, a bank account is safer.
Can I use Skrill in the United States?
Yes, Skrill is available in the US, though it's less common than PayPal. You can create an account, load money, and send transfers. Some US merchants accept Skrill, but far fewer than accept PayPal. International transfers from the US via Skrill are usually cheaper than wire transfers.
What happens if I send money to the wrong person?
If you send to another Skrill user by mistake, contact Skrill support immediately and ask them to reverse the transaction. If the recipient refuses to return it, Skrill can attempt to recover it, but success is not may provide. Always double-check the recipient's details before you confirm a transfer.
Can I use Skrill to pay bills?
Skrill does not directly pay utility bills or loan payments the way some payment platforms do. However, you can withdraw your Skrill balance to your bank account and then pay your bills from there. Some merchants that accept Skrill online may include bill payment services, but this is not Skrill's main function.
How long does it take to receive money sent to my Skrill account?
If someone sends you money from another Skrill account, it arrives instantly. If someone sends you money to your Skrill account from a bank transfer or card, it typically takes one to three business days, depending on the source and your country.