Skrill is a big name in online transfer services. It offers a safe and quick way to send money across borders. With a Skrill review rating of 4.5 stars from over 206,000 reviews, it’s seen as a trustworthy option. Yet, it’s important to look at both the good and bad sides of using Skrill.
Many users like the low fees and good exchange rates for True Skriller members. But, some have had problems with delays and getting into their accounts. This shows that Skrill could work better for some people.
Skrill lets users send money in more than 40 currencies. They can pay in different ways, like bank transfers and mobile wallets. But, some users have had issues with Skrill’s quickness and openness. They’ve faced unexpected account blocks and not enough help from customer service.
This article will explore these issues. We’ll compare Skrill with Wise and Currencies Direct. This will help users decide the best way to send money internationally.
Skrill Overview and Key Features
Skrill makes global payments easy, serving users worldwide. It has over 70 million accounts, growing fast. People like it for quick money transfers.
Users can add money with cards or bank transfers. This makes Skrill very flexible. You can send money to other Skrill users with just an email or phone number. This makes secure online payments fast and easy.
The Skrill VISA® Prepaid Card is a big plus. It lets you spend money or get cash at millions of places. But, some users don’t like the high fees for some actions.
For example, taking money out to a Visa or MasterCard costs up to 7.5%. Getting cash from a bank costs 4.61 GBP. Sending money abroad is free, but local transfers cost 2%.
Also, Skrill charges a 3.99% fee for currency changes. There’s a 1.5% fee for crypto trades if your account isn’t in euros.
Skrill gets a 4.5 out of 5 on Trustpilot, but 24% of reviews are negative. The mobile app is well-liked, with high ratings on Apple and Google stores.
| Feature | Description |
|---|---|
| User Accounts | Over 70 million accounts globally |
| Withdrawal Fees | 7.5% for Visa/MasterCard, 4.61 GBP for bank account |
| International Transfers | Free to international bank accounts, 2% for local |
| Currency Conversion Fee | 3.99% on exchange rates |
| Mobile App Ratings | 4.5/5 on Apple, 4/5 on Android |
Review of Skrill for Foreign Exchange and Transferring Money Internationally
Skrill is known for fast international money transfers. Users say funds arrive in minutes. It offers a rate of 1.20641, better than banks’ 1.17120, saving up to -30.53 EUR.
It’s praised for sending money in over 40 currencies and supporting MPESA. The quick transfer speed is a big plus for urgent needs.
- Access to over 30 cryptocurrencies, including Bitcoin, Ethereum, and Tether.
- Transparent fee of 3.88 GBP for international transfers.
- Knect loyalty program where users can earn points that convert to account money.
- Provision of a Skrill Prepaid Mastercard for convenient funds access.
But, Skrill faces reliability issues. Some users are unhappy with slow customer support and delayed transfers. Poor communication from support is a common complaint.
Users often mention account restrictions and funds being held without reason. This makes them cautious about using Skrill for urgent needs.
With many options available, users might look elsewhere. Wise, for example, has over 155,400 five-star reviews and moves over $10 billion monthly. Checking out other money transfer services could help make a better choice.
While Skrill is fast and offers many services, reliability is a concern. Finding a balance between speed and support is key for effective international money transfers.
Comparative Analysis with Other Transfer Services
In the world of international money transfers, a clear Skrill vs Wise difference stands out. Users look for the best deals, and Skrill seems promising at first. But, hidden fees can add up, making it more expensive than expected.
On the other hand, Wise is known for using the real exchange rate. It offers clear pricing without surprise fees. This makes it a favorite for those who want to save money on international transfers.
Currencies Direct is another big name in this field. It’s known for great customer service and competitive rates. Skrill covers over 200 countries and offers many currency options. But, its customer support has been criticized for being slow and unreliable.
This makes Currencies Direct a good choice for those who need fast and reliable service. It’s a strong contender in a transfer service comparison.
Looking at the bigger picture, there are other options like Remitly and Revolut. Remitly is known for its affordable transfers, while Revolut offers excellent exchange rates worldwide. Each service meets different needs, making it important to compare them carefully.
For a detailed look, check out this transfer service comparison. It helps you make the best choice for your international money transfers.
