How Does Skrill Work?

Skrill (previously known as Moneybookers) is one of the world’s biggest and most popular online payment and eWallet services. Operating in more than 200 different countries worldwide, it is also one of the most convenient ways for players in India to fund their online poker, casino and sports betting accounts.

Skrill works in a similar way to both a debit card and an online bank account. You simply go to the website and register a new account. Once your account verification has been completed you can use Skrill to pay for goods and services online – it can even be used to pay bills. With Skrill you will never fall into debt, or end up owing interest, as you may only use money that is in your account.

To buy goods with Skrill you simply choose the option when checking out, much in the same way you would if you chose to buy with a credit card, Alipay, bank transfer, PayPal or any other payment method. Many online retailers, but not all, offer Skrill as a payment option.

It is exactly the same for funding an online gaming account, you simply choose the option labelled as Skrill/Moneybookers and input your account details in order to deposit funds instantly to your account.

Skrill may also be used for sending money to another person online. To do this you simply login to your account, choose ‘send money’ and enter the name and email address of the person you want to send money to, along with the amount you wish to send.

They charge a 1% fee on all funds transferred online to another user, capped at €10. For transactions involving currency conversion, Skrill adds a fee of between 2.99% and 4.99% to their own exchange rate.

From their website; We add 2.99% for transfers between USD, GBP, EUR, CAD or PLN currencies. 3.99% for transfers between USD, GBP, EUR, CAD, PLN and any other currency. 4.99% for transfers involving any other currency.

Verification Process

Skrill is a highly regulated financial company and all customers need to verify themselves before they can use all of the available services. This is a completely standard procedure. Skrill will ask all new customers to send a copy of the following

documentation and information:

1) A full colour copy of a valid, official identification document such as your international passport (double page), national identity card or driver’s licence (front and back)

2) A copy of a paper utility bill (Gas Bill/Electricity Bill) or bank statement issued in the last three months, clearly displaying your name and address. The address on this bill must match the address you used when registering your Skrill account.

For depositing and withdrawing funds you will also need to verify your details. If you plan to use your bank account you can verify it by depositing and withdrawing to Skrill using the account.

Alternatively, you may withdraw any amount less than €15. Skrill will send the money with a reference code to your bank account. Once you receive this money, you need to login to your Skrill account and confirm the special code they sent you. Once this is

completed your bank account will be fully verified.

Similarly, anyone who wishes to use a credit or debit card on Skrill will need to verify ownership of the card. This can be done in two ways:

1) Deposit money to your Skrill account using the card and then withdraw money back to the card. Once you have done this, you will then need to send a scanned copy of your credit/debit card statement that shows the funds being deposited and withdrawn.

2) The second option is to allow Skrill to debit a random, very small amount, of money from your card (less than $2.00). Once the money has been debited, you will need to verify the exact amount that was taken from your card. Once this is verified the amount

will be returned in full to your card. More importantly, your card will now be fully verified to use on Skrill. If the above sounds like too much work, Skrill can also manually verify your account. To do this you will need to contact their help desk. They will then get back to you with full instructions on what is needed to complete the process.

Verifying Your Address

In order to verify your address, you will need to request a verification letter. Skrill will send you a letter containing a 6-digit code, which you must enter in the verification section of your account.

It is of the utmost importance that you don’t cut corners here, and that the details on your account match those on your identification because Skrill security is very strict when it comes to these processes. I strongly advise doing all of these verification processes as soon as possible after opening your account, as it can stop any delays or hassles in future.

How Do I Fund My Skrill Account?

You can fund your Skrill account using a number of different methods. In India, the most popular ways to deposit money into a Skrill account are by credit card, debit card or bank transfer. If you know somebody else with a Skrill account, you may also get them to send you funds directly from their account to yours.

Below is a list of options available to Skrill users in India. It is important to note that Skrill accept all credit and debit cards, including Visa, MasterCard, Laser, Maestro, Diners Club, Discover and JCB.

Cambodia (no local currency): International Bank Transfer (SWIFT) / credit+debit cards
China (no RMB a/cs): Bank wire / SWIFT / credit+debit cards (no Unionpay)
India: SWIFT / credit+debit cards
Japan: Bank wire / SWIFT / credit+debit Cards
Korea (Won a/cs): Bank wire / SWIFT / credit+debit cards
Singapore (SGD a/cs): Bank transfer / Visa / Cheque / Enets
Malaysia (allow MYR acs): SWIFT / credit+debit cards
Sri Lanka: SWIFT / credit+debit cards
Taiwan: Bank transfer / SWIFT / credit+debit cards
Thailand (THB a/cs): SWIFT / credit+debit cards
Vietnam (no dong a/cs): SWIFT / credit+debit cards


Cambodia: SWIFT
China: SWIFT
India: SWIFT
Japan: Cheque / SWIFT
Korea: Cheque / Visa / SWIFT
Malaysia: SWIFT / Cheque
Singapore: Cheque / SWIFT / Visa
Sri Lanka: SWIFT
Taiwan: Visa / SWIFT
Thailand: SWIFT
Vietnam: SWIFT

If you deposit to Skrill using a Bank Transfer there are no limits – you can upload as much as you want. It is also free to deposit this way and will generally take 3-5 days for the money to be in your account.

If you are uploading using a credit or debit card then you may upload a maximum of €3,000 and you are charged a 1.9% fee. The funds will be credited to your account immediately.

Important note: When funding your Skrill account using a bank wire or credit card, you may only use a card or bank account in your name – you cannot under any circumstances use a card or bank account in another person’s name. This is due to anti-money-laundering regulations. If they have a Skrill account there is no problem with them sending money from their account to yours.

How Do I Withdraw from Skrill?

In India, the most popular way to withdraw from Skrill is by bank transfer, although withdrawing to Visa is also popular in countries where this option is available.

When you make your first withdrawal request you will receive two emails. The first will be confirmation of your request and the second will be sent once your withdrawal has been processed. If you have withdrawn using bank transfer, the money will reach your account in between 3-5 working days.

Skrill also have the option of a prepaid MasterCard for withdrawing funds from your account (see section below).

Withdrawal fees differ depending on your preferred method:

The Skrill Prepaid MasterCard

Skrill give you the option to hold a prepaid MasterCard that is attached to your account, just like a debit card is attached to your bank account. This card can be used to access your Skrill funds from anywhere in the world. If you have a balance of $500 in your Skrill account then you may withdraw this at any ATM machine. This is debit only, so you can only spend the funds in your account. It is NOT a credit card.

You can use the card to withdraw funds at over 1.5 million ATMs worldwide, to shop online, or to pay at over 28.5 million stores and restaurants where MasterCard is accepted.

There are however limits on how much you can spend or withdraw each day. Unless you are a Skrill VIP, you will only be able to withdraw a maximum of €250 per day (this costs €1.80 for each withdrawal).

The daily spending limits in stores and online is a maximum of €1,000 a day. To have these limits increased you will need to use Skrill regularly enough to qualify for their VIP program.

Skrill VIP

Skrill offer a VIP scheme to high volume users who deposit €6,000 or more to merchants over a 3-month period.

The first step on the ladder is Bronze Level, and there are three more levels to climb to make it to the top tier – the

Diamond Level: You will need to meet the below requirements in order to move up the VIP ladder:

Bronze Level: Will be granted to any Skrill account holder who transacts €6,000 in any rolling period of three calendar months.

Silver Level: Will be granted to any Skrill account holder who transacts €15,000 in any rolling period of three calendar months.

Gold Level: Will be granted to any Skrill account holder who transacts €45,000 in any rolling period of three calendar months.

Diamond Level: Will be granted to any Skrill account holder who transacts €90,000 in any rolling period of three calendar months.

The majority of people that use Skrill for personal use will probably not reach Diamond Level, as it would require an average of €7,500 per week to be transacted. Person-to-person (P2P) payments, uploads or withdrawals do not count towards your VIP status.

Some of the benefits of being a Skrill VIP include a 100% money back guarantee in the case of any fraud or account thefts, priority bank uploads, 24/7 customer support, entry into the Skrill VIP Loyalty Club, exclusive promotions, a free Skrill MasterCard, higher ATM withdrawal limits, lower (or in some cases free) withdrawal fees, reduced person-to-person sending fees, lower currency exchange fees and the ability to open one or more multi-currency accounts.

The VIP Club

The VIP Loyalty Club is one of the most appealing aspects of becoming a Skrill VIP. Here you can spend all the loyalty points that you earn by making transactions to merchants. You will earn 1 loyalty point for every €1 spent or deposited online.

In addition, you can purchase 5,000 loyalty points for €11, which can be used to buy merchandise from the VIP Store. Some of the products available in the Skrill VIP store include ‘toys for boys’, sports and fitness goods, books, games consoles, computers, electronics and much more. Prices start from about 13,000 points to buy a book, up to 10.3m points for a top-of-the-range Apple Mac Pro desktop.

Books are one of the cheapest options in the shop and the average cost of a book is ~17,000 loyalty points, so this would require you to transact €17,000 to earn the points required to purchase it (or buy 20,000 loyalty points in the store for €44)

VIP Cashback Program

You can also choose to receive cashback with Skrill. You can cash in from 2,500 points for €5 up to 300,000 points for €600. Cashback rates won’t change no matter which reward you choose and it works out at 0.2% each time. Occasionally, during promotions, this amount can increase to 0.8%.

Security Token

If you become a Skrill VIP you will be issued with a free Skrill Security Token, which must be used every time you access your account. This device is a portable key-fob and it will generate a unique password for each login to your account. This increases the protection of both your account and of your funds, making it virtually impossible for your account to be hacked.

Online Support

For regular, non-VIP customers, Skrill’s support is a bit disappointing. They are excellent if you call their support phone number but they can be very slow at responding to emails – sometimes taking as long as 24 hours to respond. I also find it frustrating that they do not offer a live chat function. Phone and email support is available between 9am-6pm Mon-Sun

On a few occasions it has taken their email support team a few days to respond to my queries. Follow up mails can also take just as long, so it can often take three or four days to get problems resolved.

My advice: Avoid the email support and call them instead. You will have your issues dealt with much quicker!

Skrill Mobile App

Skrill have a mobile app available to for both Android and IPhone/IPad. The first time you enter your details you will be prompted to create a 5-digit pin code that you will use for all future logins.

Using the mobile app gives access to all the options found in your regular account. You will be able to upload, transfer and withdraw funds and also check all current and past transactions.

Is Skrill Safe?

Skrill is one of the biggest online payment processors in the world today. As a result, it is extremely safe to use and the company takes security very seriously. It uses only the most modern security technology, with account login, personal details and all money transactions secured using Secure Socket Layer (SSL) technology with high-security 256bit encryption, certified by VeriSign.

In addition, Skrill employs a large team of highly-trained Risk and Anti-Fraud experts who constantly monitor all transactions using state-of-the-art tools and technology. If any suspicion arises the Risk and Anti-Fraud team immediately conduct an in-depth analysis to either confirm or eliminate the concerns. Working very closely with the relevant authorities, offenders are always prosecuted.

Skrill also has a few extra security features that I really like:

1. If there is an incorrect login made on your account, Skrill will send an email to your registered email address to tell you. So if somebody is trying to gain access to your account you will be notified immediately.

2. Their website does not record your login details for the next time you go to the site. If you click on the login box it doesn’t remember your username or auto fill your password. Once you’ve logged out you can be safe in the knowledge that you’ve left no sensitive information behind.

3. The security token offered to all VIP members makes accounts 100% secure.

Personal Experience

I have used Skrill for close to 10 years. I use it to deposit and withdraw money on a daily basis from my online poker, casino and sports betting accounts. I also use it to buy goods online and to top up my Skype credit.

In all my years of using Skrill I’ve never encountered any serious issues. All deposits and withdrawals are done instantly on Skrill’s side and any delays are usually down to the betting site’s verification process.

Skrill makes it extremely easy to move money in and out of betting accounts online, as it is more convenient, safer and faster than the majority of other available options. Taking money out is also quick and hassle-free as I can withdraw using my ATM card or by bank transfer.

Their initial verification process can be annoying but this should be seen as a positive thing, as it shows they care a lot about security. Their email support could and should be better, but that is only a minor complaint.

Restricted Countries

Unfortunately, Skrill is not available to residents of certain countries. You may not use the services of Skrill if you are living in any of the following: Afghanistan, Cuba, Iran, Myanmar, Nigeria, North Korea, Sudan, Somalia, Syria and Yemen.

Skrill users in Canada and the USA may not use it for gambling-related transactions. If you try to do this, your account will be permanently closed.

If you plan to visit the USA you need to be aware that you may use your Skrill MasterCard there, but you cannot login to your online account.

More About Skrill

When Skrill first started out it was called Moneybookers Limited. It was founded in London, UK, in July 2001. By April of the following year, the website and its online payment system had been launched. Within 18 months of trading almost two million people had registered with Moneybookers. Their headquarters are in London, though they also have international offices in Berlin, Sofia, Stockholm and New York, employing over 560 people in total.

In 2007 Investcorp Technology Partners bought Moneybookers for €105m and, soon after that purchase, they passed the six million customer mark. By 2009, Moneybookers had launched their own prepaid MasterCard.

In 2010 Moneybookers decided to rebrand as Skrill. They had now passed the 20 million customer mark with over 100,000 merchants accepting Skrill as a payment option. This rebranding process was completed in 2013 when they migrated all users from the old Moneybookers platform to the new Skrill site.

In 2013 they also purchased Paysafecard, Europe’s leading payment provider. As of today they boast over 36 million registered users worldwide who send and receive money in over 40 currencies in 200 countries, with 156,000 merchants using their payment solutions.

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