Skrill Review 2026: Digital Wallet with Money Transfer Features
Last updated: April 2026
Skrill is a digital wallet service that also offers international money transfers. While useful for online payments and gaming, their transfer fees and exchange rate markups make them less competitive than dedicated money transfer services.
About Skrill
Skrill has been operating since 2001 and is popular in the online gaming and gambling space. They offer a digital wallet that can hold multiple currencies, a prepaid card, and money transfer services. They're owned by Paysafe, a major payments company.
💰 Fees & Pricing
Skrill's fee structure is complex. For money transfers, they charge 1.45% (capped at various amounts depending on the corridor). Currency conversion costs an additional 3.99%. This makes them more expensive than dedicated transfer services.
💱 Exchange Rates
Skrill adds a significant markup to exchange rates, typically 2.5-4% above the mid-market rate. Combined with their transfer fees, the total cost can be quite high compared to Wise or other specialists.
⚡ Transfer Speed
Transfers between Skrill wallets are instant. Bank transfers take 1-3 business days. Speed varies by destination and payment method. Wallet-to-wallet is their fastest option.
🛡️ Safety & Reliability
Skrill is regulated by the FCA in the UK and other financial authorities. They're owned by Paysafe, a large payment processing company. They have strong security measures but customer service has mixed reviews.
Pros & Cons
✅ Pros
- Instant wallet-to-wallet transfers
- Multi-currency wallet
- Prepaid Mastercard available
- Popular for online gaming
- Crypto trading available
- VIP program for high-volume users
❌ Cons
- High fees for transfers
- 3.99% currency conversion fee
- Complex fee structure
- Better options for pure money transfers
- Customer service can be slow
Skrill vs Competitors
Frequently Asked Questions
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