Once you log in, youll be asked to set up your security Pin 5.

On the other hand, Skrill has some great competition in all the areas it operates and we want you to know about these so you can make the right choice for your specific needs.

To help make your choice, we analyse real user opinions (including negative reviews see below ) to answer whether Skrill is a good fit for YOU (and when it isnt).

Full Disclosure: While we aim to show you the good and the bad in every review so you can make the best choice, there are links contained in this page which are affiliate links (and while not costing you anything) do earn us a commission if you click on them and decide to use the service.

In many cases we also get the opportunity to provide you with discounts and offers as part of using the link.

Cheers and Thank You Dive in to uncover the good, the bad, and even the ugly about Skrill.

Watch this video on YouTube Pros Wide availability in 200 countries Both Personal and Business options available Ability to work with forex and online gambling accounts No fixed transfer fee when you send money directly to a bank account Send money easily to an email address or phone number linked to a bank account Buy and sell crypto currency Offers a prepaid card powered by MasterCard User-friendly mobile app Cons Getting fully operational can be tedious Complex fee structure High currency exchange fees for Skrill to Skrill international transfers The Low Down As you can see Skrill has evolved to offer a wide range of services, including payment gateways (used for e-commerce), bank account withdrawals, international money transfers as well as cryptocurrency trading.

Partly because of this flexibility and because they are a FCA regulated way to hold funds, many of Skrill users are forex traders and online gambling customers.

They also have a multitude of ways to fund your account and can be very fast at transacting which ensures their appeal.

Skrill also goes head to head with PayPal as a payment gateway and is used by over 120,000 online merchants globally.

For individuals, Skrill also offers a prepaid MasterCard linked to your account so you can easily spend the funds in your e-wallet for online purchases, while traveling abroad (wherever MasterCard is accepted) and opt for contactless payments (within EEA country-specific limits).

Jump Links When Skrill Works When it Doesnt Work How Does Skrill Work How Much Does Skrill Cost How Fast is Skrill REAL Customer Reviews ( including negative ones ) Is Your Money Safe Verdict Is Skrill Right For You 1.

When Skrill Works As a one stop shop for fast money transfers, multi currency account, crypto investing and possibly a prepaid Mastercard (Eurozone only) Skrill may be a good solution to cover many needs.

Skrill also works hard to make things easy with their user friendly online platform and supports 40 fiat currencies in over 200 countries.

Generally speaking, you can rely on Skrill in the following cases: 1.1 Sending money to friends and family: You can easily and quickly transfer funds to your friends and family with Skrill (you can even fund your transfer using a credit or debit card).

In terms of convenience and user experience for smaller amounts, Skrill works pretty well.

But there are some fees you need to know about which we will address in a moment.

Prepaid debit Mastercard (for most Eurozone countries) For many a prepaid debit Mastercard is a valuable addition but it is relatively expensive compared to their competition Skrill charges an annual fee of 10, ATM usage fees of 1.75 and foreign exchange of 3.99.

Freelancers and solopreneurs: Freelancers and solopreneurs can also opt for Skrill to request and receive payments.

Some freelance marketplaces (like Freelancer.com ) also support Skrill.

For those on their own like PayPal, you can provide your email address associated with your Skrill account to receive funds.

For many this might be suitable, for others having a multi-currency account with local bank account details and invoicing functionality may be preferable.

If you are looking to get paid or pay others internationally you might also like: Top 5 Alternatives to Payoneer 1.4 SMBs: Business owners can use Skrill to create payment gateways and make mass payments.

Online sellers: E-commerce merchants can integrate Skrill to offer customers a variety of payment methods (including over 100 local payment methods, 170 direct bank transfer connections as well as an e-wallet option) 1.6 Forex trading: The Skrill account is ideal when you need to move money fast across Forex platforms worldwide.

Travelling abroad and spending online: You can use a Skrill MasterCard prepaid card to withdraw cash from ATMs overseas as well as pay for products and services while travelling (accepted wherever MasterCard is supported).

Want to spend at an online store You can do that too.

When It Doesnt Work Skrill can be a good choice for you if you want to do a number of things with one service, but if you just need a pre-paid debit card for travel or want to make money transfers, then you could do better (especially with cost).

For example, here are some of the main fees; Depositing Funds (Usually free if you use a bank wire transfer) Withdrawing Funds Usually 4.65 GBP (5.50 EUR) or 7.5 for a withdrawal to Visa Domestic Transfer fees are up to 2 of the amount No fixed fees for international transfers, unless there is currency conversion For transactions involving currency conversion, Skrill adds a fee of 3.99 to their wholesale exchange rates.

We go into more details below with in our How Much Does Skrill Cost section because you can save a lot of money if you know a few things For example, with money transfers, the Skrill to Skrill service is expensive but the Skrill Money Transfer service there is zero-FX rate markup (normally 3.99).

Skrill Money Transfer Verification Process Is

How Does Skrill Work 3.1 Setting up a Skrill Account (Personal and Business Accounts) Getting started on Skrill (opens a new tab) is a simple process but as you will see the verification process is interesting.

Skrill Money Transfer Download The Skrill

Select Register on their online sign up page or download the Skrill app on your iOsAndroid device.

Enter your personal details such as First name, Last name, Country, Currency and email address 3.