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Last updated on 2nd Mar 2018
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The logo of Skrill is one of the very few logos that you’re going to see at virtually every single online casino – and there’s a very good reason for that. Since its arrival on the market, Skrill has been the leading force in facilitating quick and simple online transactions. Over the years, it has already catered to millions of satisfied customers and that number is growing with every single day.
Skrill really is as good as its reputation – and you should read on to find out why.
Formerly known as Moneybookers, Skrill began its journey in 2001 with the intention of providing an online payment system that could be accessed with a simple combination of an e-mail address and a password. It quickly established itself on the international scene and soon became the first FCA-regulated e-money issuer in Europe.
In 2009, it struck deals with both eBay and MasterCard, solidifying its position on the market even further by offering a host of new products and services to both individuals and businesses. The Moneybookers-to-Skrill rebrand was finally completed in 2013, a year before Skrill was officially approved by the local authorities as a sanctioned digital wallet for internet gambling in New Jersey.
Nowadays, Skrill claims to be operating in nearly 200 countries and 40 currencies. Its headquarters can be found in London, but the company also has major offices in New York and Stockholm.
How It Works
Skrill is one of the few truly full-fledged online wallets out there, which means that you can easily use it not only for quick payments, but also to stash your money away for a somewhat longer period of time. Once you make an account, you can proceed to make either a direct transaction to an online casino or a simple deposit to Skrill. Plenty of different deposit methods can be used, from credit cards and bank transfers to various prepaid services.
Withdrawing your money back from an online casino to Skrill is also typically much easier than withdrawing it to your bank account. Not only is your e-mail the only thing you need to enter, but you’ll usually receive your cash much more quickly as well – in fact, many of the top online casinos process Skrill withdrawals in less than 24 hours.
You might also be asked to verify your identity in order to get your transaction limits increased, but the process is incredibly simple and you don’t necessarily need to disclose any sensitive date.
Thanks to its partnership with MasterCard, Skrill is also offering prepaid cards to its customers, which can then be used not only for paying online at e-shops and off-line at regular shops, but also for withdrawing funds at an ATM.
Those who like to try out new online casinos once in a while will be pleased to know that Skrill offers exclusive promotional deals for many of them, so you can use it not only as a payment processor, but also as a great starting point for all your online gaming ventures.
If you stay with Skrill for long enough and transfer enough money, you’ll also be able to enter the exclusive VIP programme, which has several tiers and which can grant you access to perks like additional accounts (with different currencies), free security tokens, higher daily ATM limits, and dedicated customer service options.
Privacy and Security
Although Skrill doesn’t offer the same level of privacy, as, say, an anonymous prepaid card, it does remain a great choice for those who want to keep their online transactions away from their bank accounts and bank statements. Although you’ll probably need to tie a bank account to your Skrill account at some point, Skrill is the only thing that’s ever going to show up on your statements, so there’s no way of telling what you bought or paid for directly. As far as withdrawals are concerned, you can just ask for the prepaid card and withdraw cash from an ATM, so that’s something that you might want to think about as well.
Skrill offers several layers of security options and it’s basically up to you to decide how many of them you want to use. If you aren’t concerned at all, you can simply authenticate all payments with your password alone. However, you can also take advantage of the aforementioned Skrill security tokens, which you can purchase even if you aren’t eligible for any of the VIP tiers. Put simply, the security token generates a code that you then use whenever you want to authenticate a payment, which means that anyone who would want to steal money from you would need to get hold of that token.
If there’s one thing that Skrill is often criticized for, it’s definitely the customer support it provides for all its non-VIP customers, i.e. the vast majority of them. For whatever reason, Skrill has never been able to provide a half-solid service that would get your queries answered in less than a couple of days. It’s frustrating to say the least – but the good thing is that you’re not very likely to encounter any issues during your stay.
Apart from that, we simply need to highlight the harsh fees that are imposed on a number of deposit and withdrawal methods. Although you naturally can be shrewd and plan in such a way that you’ll never take a really serious hit, doing that takes a lot of time and we would certainly appreciate Skrill being a bit lenient with their application. For example, why can’t certain fees be waived on a monthly basis?
Some online casinos are also not too keen on providing bonuses on deposits that are made through Skrill, but this obviously doesn’t apply to all those exclusive Skrill promotional offers, so that’s something that we’d rate as only a miniscule hassle. In fact, since some of those offers are significantly better than the ones that you can find independently of Skrill, one might argue that this isn’t actually a hassle at all.
Finally, we should also mention that you need to be very careful when choosing the currency that your account will be in, since the FX rates that Skrill is offering could turn to be quite painful if you don’t end up using your primary currency much more often than not.
To sum things up – if you’re looking for a long term solution to the issue of online gaming payments, there’s a good chance that Skrill is indeed the ideal choice for you. Although there are some minor issues here and there, the overall experience is almost flawless and we’d be hard pressed to find any major problems.
Of course, there are things that others do better, but Skrill really is more than just a sum of its parts and there’s a lot of added value in the sense that you’ve got everything covered in just a single service. If you can use it for more than just online gaming transactions, it’s likely that Skrill is one of the very best payment options that you can use nowadays.