Skrill (formerly Moneybookers) is a popular e-wallet service with extensive experience in online gambling. It is the preferred payment method for several million players thanks to its support of multiple currencies, instant deposit capabilities and reputation for security. One of the big selling points of the service is that Skrill gambling sites never see your credit card or banking information when you deposit.
Your Skrill account can be hosted in your preferred currency and funded with direct bank transfers, credit cards, debit cards and other local payment methods. Once you have funds in your account, you can then log in to any major gambling site and make a deposit using the funds in your Skrill account.
In some cases, you can also use Skrill to facilitate direct deposits without first funding your Skrill account. If you link your credit/debit card or set up instant banking (such as Giropay, Sofort and POLi among others), you can have Skrill move funds directly to your gambling account from your bank account.
Equally important, Skrill is capable of receiving withdrawals from almost every major gambling site on the planet. Withdrawals are paid back to your Skrill account and can then be withdrawn back to your bank.
How it Works
The core Skrill experience revolves around your free personal account. You can sign up for an account at www.skrill.com and then log in any time to manage your money, upload funds, transfer money to a friend or cash out your funds. If you’re planning on making a deposit to a gambling site, the first step is to fund your Skrill account.
There are a variety of funding methods that range from simple credit card payments to instant bank transfers. Skrill accounts can also be funded with Paysafecard vouchers and a variety of local banking methods available in your country. If you log in to your account and choose “upload,” you’ll see a full list of funding methods.
Once you have money in your Skrill account, the rest is easy. Log in to your favorite gambling site, select “deposit” and then select “Skrill.” You’ll be asked to type in an amount to deposit and then a new window will load and ask you to log in to your Skrill account to confirm the deposit. The funds will be transferred instantly to your gambling account.
Skrill Direct allows you to make deposits to gambling sites without first uploading funds to your account. This deposit method works in conjunction with your bank’s existing online banking feature. If you can log in and check your account balance, you can use that same login to confirm the deposit and transfer money straight from your bank to your gaming site.
Most major banks in the UK, Germany, France, Italy, Spain, Austria, Hungary, Estonia, Finland, Poland and Sweden are supported. The Skrill website says they plan to add additional banks in the near future.
Anyone with an online account can also sign up for a prepaid MasterCard. This card acts like any other debit card except it can only be used to spend what you have loaded in your Skrill wallet. It can be used both online and in the real world anywhere MasterCard is accepted.
If you shop online frequently or would like to keep better control over your spending, this card is worth a look. The only fees associated with the Skrill MasterCard are a €10 yearly fee, 2.49% for foreign exchanges and €1.80 for ATM withdrawals.
Are there any fees for using Skrill?
The only fees you’re likely to encounter with Skrill are those charged for using certain methods to upload funds to your account. Direct bank transfers are free but Skrill does charge a 1.9% fee for funds uploaded by credit or debit card and a 5.5% fee for uploading funds via Paysafecard.
Withdrawals from Skrill to your bank account have a flat fee of £2.20 or €2.95. This same fee applies whether you withdraw via local bank transfer, credit back to your Visa or SWIFT international transfer.
What happened to Moneybookers?
Moneybookers is still alive and well – all they did was change the name. Yes, Skrill is the same company that we once all knew as Moneybookers. They rebranded several years ago in an effort to make the name more recognizable and easily pronounced by its growing international customer base.
Many of us were fans of the old name, but apparently the term “Moneybookers” doesn’t translate very well to other languages. Everything worked out in the end and Skrill continues to dominate the online gambling niche. There are few e-wallets with as much experience in online gaming as Skrill.