What is Skrill? How Does Skrill Work? Is Skrill Safe?

What is Skrill? How Does Skrill Work?

We can call it an e-wallet that you can use for online shopping and expenses. Skrill has also become an alternative to PayPal.

Skrill account opening processes are also very simple. After clicking the Open account button on the site, you complete the Skrill account opening process by filling the necessary information. Then you can deposit money into your account and start using it by choosing one of the various deposit options.

It makes sense to open and use accounts continuously in euro. Otherwise, you may be subject to a 4 percent cut for currency conversion.

How to Make Skrill Withdrawals

It tries to be more accepted in the market by having as transparent and low fees as possible regarding withdrawals. However, cuts in withdrawal can also lead to Skrill complaints.

You can make Skrill withdrawals in the form of bank transfer and credit or debit card transfers. At this time, some cuts will occur depending on the actions you will take. In addition, the verification procedures are somewhat strict for security purposes during transactions.

A deduction of up to 5.50 euros is applied for which you want to transfer money to your bank account. However, the SWIFT transaction may be subject to an additional fee at your bank. For this, you need to get information from your bank. Most users assume that the cut is also Skrill resources.

When you send money to another Skrill account, there is a 1.9 percent deduction, but limited to an upper limit of 20 euro.

You can also evaluate your money on the sites where you shop with Skrill. This is most advantageous for small amounts, as no cuts are made at this point.

Shopping with Skrill

Sites that shop with Skrill are usually shopping sites abroad. For these sites, alternative payment methods come to the fore as transfers with local banks can be troublesome and long-term.

Skrill is one of the most preferred alternative payment methods in the world recently. It is also frequently used by people who do freelance jobs, especially internationally. On Forex sites, you can see that many brokerage houses accept shopping with Skrill. For this reason, it is also used by some forex investors trading within foreign forex companies.

Is Skrill Safe?

The first thing we will look at in response to the question whether Skrill is safe is of course concrete criteria. Authorized by the FCA as the e-money regulator, Skrill meets one of the important security criteria with its FCA license. In addition, user experiences obtained to date constitute a positive answer to the question of whether Skrill is safe.

However, some users especially complain about deductions. If the money you withdraw is small and there is no meaningful amount left after the deduction, you can also choose to shop with Skrill to avoid any cuts.

Another reason for choosing alternative payment tools such as Skrill is the financial information security it provides. Your financial information is also safe as your account and card information is not shared with others.

Skrill Deposits

No fees will be charged when you SWIFT to your Skrill account through your bank. However, SWIFT transactions may be charged separately by your bank. You need to pay attention to this. If you make a Skrill deposit with Neteller, a 3 percent fee will be charged.

There is a 1.9% deduction for your VISA card deposits and a 2.25% deduction for your deposits through MasterCard. When money is transferred to your account from another Skrill account, no fee will be charged to the recipient.

You can use Skrill with peace of mind, which has gained an important position in use as a payment tool especially in the forex market. However, you should pay attention to the issue of deductions and it will be useful to calculate well and withdraw your money with the least cut.