How to Withdraw Money Through Skrill?

How Skrill works: how to receive and withdraw money to a bank card. Reviews, overview of fees, account creation, and verification.

Skrill
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Updated:
Jun 11, 2024
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Time to read:
4 minutes

What is Skrill?

Skrill is an international payment system that allows money transfers between countries, receiving payments from websites, and trading cryptocurrency.

Skrill has been operational since 2001 and serves users in 185 countries.

It supports payments in 33 currencies.

How does Skrill work?

Immediately after registering, you will be able to:

  1. Receive money: from clients, friends, or relatives.
  2. Withdraw money from websites: for example, you can withdraw money from OnlyFans through Skrill.
  3. Make transfers: to other Skrill users or international money transfers to any account.
  4. Pay for online purchases: a Skrill account can be linked to various sites and used as payment. The money will be debited from the Skrill balance or a linked bank card.
  5. Trade cryptocurrency: setting up automatic conditions for transactions is available.

What are Skrill's fees and tariffs?

Skrill's fees are a bit complicated.

Pay attention to the method of withdrawal.

Withdrawing money to a Mastercard bank card incurs a fee of 4.99%, and to Visa, it's 7.50%.

Fees and services may vary depending on the country.

Table 1: Main Skrill Fees.
Service Cost
Account opening Free
Topping up your account from a card 2.5%
Withdrawing money from Skrill from 3.49% to 7.50%

The percentage depends on the transfer method and the recipient's country.

Table 2: Fees for transfers and receiving.
Service Cost
Receiving funds by details Free
Receiving funds from a Skrill user Free
Sending money by bank details from 0% to 4.99%
Sending to another Skrill user from 2.99% to 3.98%

If you are not tied to Skrill, consider alternative payment systems.

There are cheaper options regarding fees:

  1. For withdrawing from websites and business operations: Payoneer (a withdrawal fee of just 2%).
  2. For personal transfers: Wise (a fee of up to 2.5%).

Check out my articles for detailed reviews through the links.

How to Register with Skrill?

Registration with Skrill is free and takes just a few minutes.

Filling in Account Details

Go to the Skrill registration page.

Select your preferred language from the top right corner.

Specify:

  1. First and last name.
  2. Country of citizenship.
  3. Desired currency.

If necessary, you can change the currency in the future.

All information must be real and transliterated into Latin characters.

If you have an international passport, copy the details from there.

Skrill Registration Form

Providing Address and Phone Number

Next, you will need to provide your registered address and phone number.

Make sure all the information is correct, as you will need to verify it in the future.

How to Register a Skrill Account

Choosing the Purpose of Use

Right after registration, you need to indicate the purpose for which you want to use the payment system.

  1. Pay online. If you plan to pay for goods or services on websites using Skrill.
  2. Buy and sell cryptocurrency.
  3. Money transfer. If you plan to receive money, choose this option as well.

Whatever you choose, all services will be available to you in the future.

Purpose of Use When Registering with Skrill

Linking a Bank Card

In the last step, you will need to link a bank card.

After linking a card, you will be able to top up your Skrill account balance and withdraw money from the account to the card.

Verifying Your Account

You can use your Skrill account immediately after registration.

However, depending on the volumes and types of transactions, you may be asked to go through verification after some time.

For verification, you will need:

  1. To confirm your identity using a passport (national or international) or a driver's license.
  2. To confirm your address. For this, you need to use a document issued within the last 3 months. This can easily be done, for example, by paying for utilities at your registered address through the Monobank app and downloading the receipt. You will have a bank receipt with the required address. The payment amount does not matter. A registration certificate is also acceptable.

To submit documents, you will need to use the Skrill mobile app.

How to Receive Money in Skrill?

If you want to top up the account yourself, you can use any bank card.

The fee for topping up your account with a card is 2.5%.

If you want a client or acquaintance to top up your Skrill account, they just need to know the email address or phone number associated with your account.

How to Withdraw Money from Skrill?

There are two ways to withdraw money from your Skrill account:

  1. To a bank card.
  2. To a Neteller account.

An example of a money withdrawal transaction from Fansly.

Money from Skrill reached my local bank within a few minutes.

Withdrawing from Fansly through Skrill to Monobank

How to Send Money?

If you need to send money to a client or Skrill user, there are two options:

  1. Transfer between Skrill accounts. To make a transfer, you just need to provide the recipient's email or phone number. The money is credited instantly.
  2. International money transfer. In any currency to banking details.

When choosing an international money transfer, you will need to specify the recipient's currency, choose where the money will be debited from, and where it will be credited.

Technically, Skrill does not charge a fee for the transfer, but there is a 3.5% commission for currency conversion.

Withdrawing Money from Skrill to a Bank Account

Skrill Mastercard

Skrill, in partnership with Mastercard, issues bank cards.

They are available only to residents of the European Economic Area.

If you need a card that you can use worldwide and keep money in currency, read about the Payoneer bank card.

Cryptocurrency

Using a Skrill account, you can trade cryptocurrencies.

Buying and Trading Cryptocurrency in Skrill

Skrill Review

On the Trustpilot service, Skrill has more than 17,000 reviews.

Skrill's rating is "Excellent".

This is a good rating, but for objectivity, I analyzed negative reviews about Skrill, just as I did with reviews about Payoneer.

Three common Skrill issues:

  1. Account Verification: It's important to provide truthful information during registration. Typos can be corrected by providing real documents.Forgery of documents can lead to account blocking.
  2. Withdrawal of Funds: Read the terms carefully when topping up your account to avoid restrictions. In case of problems with fund withdrawal, usean exchange aggregator to transfer to other payment systems.
  3. Fees: Skrill's fees may be higher than other systems. Use a Mastercard to withdraw funds to minimize costs.

Let's continue to explore Skrill alternatives.

Reviews of Skrill on Trustpilot Compared to Other Payment Systems

What are the Alternatives to Skrill?

The choice of a payment system depends on your goals.

Skrill has its advantages: the ability to top up your account with a card and trade cryptocurrency.

If you plan to transfer money to acquaintances in other countries or gamble on gaming sites, Skrill might be suitable.

However, I recommend considering alternatives as well, since Skrill objectively has high fees.

Skrill vs Payoneer

Payoneer is an international payment system founded in 2005.

Payoneer allows you to:

  1. Receive money from partner sites.
  2. Receive money directly from clients.
  3. Get account details in 8 currencies.

The main disadvantage of Payoneer compared to Skrill is the inability to make personal payments.

Payoneer is used exclusively for business operations.

Fees at Payoneer range from 0% to 3%.

Learn more about how to create a Payoneer account.

Wise vs Skrill

Wise allows for transfers between countries in different currencies.

Supports both personal transfers and business operations.

Does not charge a currency conversion fee. The transfer fee averages less than 2.5%.

If you need to send money to another country, read about how Wise works.

Wise vs Payeer

Payeer is an electronic wallet for storing fiat and cryptocurrencies.

Payeer does not support transfers to a bank account, but you can withdraw to other payment systems.

Learn more about receiving and withdrawing money through Payeer.

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