All-in-one service to manage your betting budget, Skrill is an e-wallet with a whole host of benefits including security and speed.
Introduction to Skrill
Skrill is a digital wallet service — more commonly known as an e-wallet — that provides a multitude of money transfer and online payment features. It works a bit like a bank account, letting users hold balances in numerous currencies. You can also store different payment cards within your Skrill wallet, using them for online transactions without having to share any of the card details with the merchant.
Using Skrill for online payments is simple:
- Sign up for a free Skrill account.
- Transfer funds to your Skrill balance, or add a source of funds such as a debit card.
- Select Skrill at the point of purchase and log into the secure portal with your account details.
- Choose your source of funds — either your Skrill balance or a linked card.
- Confirm the transaction and you’re done!
It’s quick, easy, and convenient. And on top, Skrill is highly secure. First off, you won’t be sharing any sensitive financial details with the merchant when you use this payment method.
But more importantly, Skrill utilises a number of security measures to ensure your money is safe at all times. Accounts are locked behind two-factor authentication to prevent unauthorised access, and 128-bit encryption keeps prying eyes away from transaction details and personal data. Furthermore, Skrill is authorised by the Financial Conduct Authority (FCA), an industry body that ensures financial services operating in the UK meet certain regulations and standards.
Want to know more? Keep reading and we’ll explore everything Skrill has to offer, along with any potential drawbacks.
Pros and Cons of Skrill
- Security – Skrill employs security measures like 2FA, fraud monitoring, and 128-bit encryption to keep your information safe.
- Speed – Support for instant deposits and withdrawals means your payments are completed quickly.
- Convenience – No keying in lengthy card details, just log in with your email address and password.
- Availability – Skrill is widely supported at online casinos and betting sites.
- Mobile app – Easily manage your money and account on the go.
- Prepaid card – Spend your account balance with the Skrill prepaid card.
- Bonus eligibility – Skrill and other e-wallets are often excluded when claiming welcome offers.
- Fees – You may have to pay small charges when withdrawing your Skrill balance to your bank account.
Casino Players Best Suited to Skrill
Skrill is a strong performer in a variety of areas, and will meet the needs of a wide range of casino players.
e-Wallets are a great option for those particularly concerned with security, and Skrill certainly ticks the boxes in this regard. Although casinos licensed by the UKGC are safe places to gamble online, many players remain hesitant to share bank details with these sites. Skrill eliminates that need, keeping your card information private. Its robust security features ensure your account — and thus your money — is safe at all times.
We also recommend e-wallets such as Skrill if you’re seeking fast payouts. The service can be used for fast and even instant withdrawals, truly shining at casinos where payments are processed quickly.
Responsible gambling is always important no matter which payment method you choose, but Skrill can help make it easier. Since it’s separate from your bank account, you can keep a close eye on your gambling budget or use the service to store your bankroll.
While these features are selling points in their own right, Skrill’s success owes to the fact it brings these benefits together in one convenient, easy-to-use solution. If you’re a player who prioritises overall convenience, Skrill is a fantastic choice.
Of course, there are a few players the service won’t suit. Skrill deposits are often excluded from claiming offers and promotions, so bonus hunters may prefer to stick with more reliably accepted methods like debit cards. We’d also suggest opting for PayPal if you’re particularly concerned about fees when withdrawing your e-wallet balance back to your bank account.
What We Like about Skrill
Here at TopRatedCasinos.co.uk, we’re big fans of e-wallets in general — so it should come as no surprise that there’s lots we like about Skrill.
Off the bat, it might not be clear just how quick and simple it is to make payments with Skrill. It takes a few moments to set up your account and link your debit card, but once that’s done, completing transactions is as simple as logging in with your registered email address and password, then hitting confirm. It’s not just on the front end that things are quick either — we’re big fans of the fact Skrill payments are completed instantly, so the service can be used for fast withdrawals.
Using Skrill itself is a breeze: the online portal can be used to manage your account from a desktop, and the service also offers a mobile app, so it’s a sensible option if you tend to play casino games on your phone or tablet. We’re big fans of the ease with which you can check your account balance, update payment info, or even access Skrill’s other features like crypto trading. Following on from the latter point, it’s this value-added functionality — alongside other features like the prepaid Skrill card, Apple Pay integration, and the Knect loyalty scheme — that makes Skrill a top all-rounder for online payments.
We’d be remiss if we didn’t mention the service’s fantastic security. Although this is a prerequisite for any payment method, we’re glad to see Skrill goes the extra mile with its 24/7 fraud detection measures on top of the latest encryption and 2FA.
What We Dislike about Skrill
We’ve waxed lyrical about the benefits of Skrill, but the payment method isn’t without its drawbacks.
Our main gripe is the fees. Even though they’re relatively small, this is still a significant negative compared with free-to-use methods like debit cards and Trustly. Even PayPal won’t charge you to withdraw your balance to a bank account, so Skrill certainly falls a little short in this regard. The inactivity fee is a mild annoyance, although it shouldn’t affect the majority of players and is easily avoided if you move your money out of Skrill.
This payment method is also often ineligible for bonuses — although it’s a little unfair to pin this one on Skrill, as it applies to most e-wallets and is down to the online casino’s own terms and conditions. Nonetheless, the fact remains true that you might have to choose an alternative payment method if you’d like to claim a casino bonus.
Overall Thoughts on Skrill
If you’ve made it this far, you can probably tell we’re pretty fond of this payment method. It ticks three of the most important boxes for casino players: speed, security, and ease of use. The fact that the team behind Skrill continues to expand the service and its features is another big plus, and suggests a bright future for this leading e-wallet. The niggles are minor, and considering Skrill is available at a large number of casino sites, we reckon it’s a solid choice for pretty much any player.
Looking for a little more background colour on Skrill? You can find all the details about this leading e-wallet service below.
History of Skrill
Skrill was first founded way back in 2001, emerging around the same time as rival e-wallets PayPal and Neteller. Originally named Moneybookers, it quickly established itself as one of the top electronic payment providers in Europe and was subsequently purchased by Investcorp in March 2007.
In 2013, Moneybookers rebranded as Skrill and also acquired leading prepaid card service, Paysafecard. The company was then itself acquired by CVC Capital Partners.
Two years later, Neteller owner Optimal Payments purchased Skrill from CVC, bringing the two e-wallets under the same umbrella before subsequently rebranding as Paysafe. The company has won numerous accolades, including Payments Processor of the Year at the 2019 American Gambling Awards.
Today, Skrill is available in over 130 countries around the world and supports more than 40 different currencies. It previously held sponsorships with AC Milan and Leeds United.
|HQ Location||2 Gresham Street, London, United Kingdom|
|Number of Employees||2,000+|
Skrill continues to expand its service offering, and regularly delivers new features and functionality to its customer base. Recent innovations include a new loyalty scheme and robust support for cryptocurrency trading. The Skrill mobile app receives regular updates, ensuring the service remains at the cutting edge of digital payment solutions.
Browse Casinos that Support Skrill
If you’ve made it this far, you should have a pretty good idea of whether Skrill is right for you. Simply check out our fantastic range of top Skrill casinos to find your next site and sign up — each one has been hand-picked and personally reviewed by our experts.
Frequently Asked Questions
Yes. Skrill is a legitimate digital wallet service, authorised and regulated by the Financial Conduct Authority as an issuer of e-money (registration no. 900001). The FCA regulates the conduct of financial services and markets within the UK. As long as you’re playing at a licensed casino site, Skrill is 100% safe to use.
Yes, Skrill is very secure. The service uses SSL technology and 128-bit encryption to ensure personal and transaction details are kept safe. Skrill accounts use two-factor authentication to prevent unauthorised access, and there’s also round-the-clock monitoring to protect users against fraudulent transactions. On the casino side, many users prefer e-wallets like Skrill as they won’t have to share any bank details with the casino.
Yes. Skrill is one of the fastest payment methods around, with your money arriving within an hour of the casino processing your withdrawal request. Keep in mind that most online casinos take up to 24 hours to process withdrawals, limiting how quickly you can receive your money via Skrill.
Yes, Skrill does have some fees. The most notable are related to moving money to and from your Skrill account — the amount depends on how you do so. For example, deposits to your Skrill wallet are free with debit cards, but withdrawals come with a fee up to 3.99%.
There’s no admin fee for using Skrill, as long as you log in or make a transaction every six months. Otherwise, a €5 (or equivalent) charge will be deducted from your account balance every month.
James is a Content Writer and casino expert at TopRatedCasinos.co.uk, joining us in 2021 and totting up two years’ experience in the online gambling space so far. He who regular contributes in-depth guides and reviews for the site, alongside editing and refining copy. He regularly tinkers with different elements of TopRatedCasinos to make it even better for our users, and has a hand in designing some of the new features we add to the site. Outside work James is a guitarist, all-round music enthusiast, and distance runner.