Head-to-head
Skrill vs Wise: Wallet vs Transfer Service
Wise is the cheapest way to move money between bank accounts. Skrill is the specialist wallet for gaming, crypto, and merchant payments. They solve different problems.
Open a Skrill accountFeature comparison
| Feature | Skrill | Wise |
|---|---|---|
| Type | E-wallet + prepaid card | International transfer service |
| FX | 1.29%–3.99% (VIP) | Mid-market + ~0.4% |
| Merchant checkout | Yes (1.9% flat) | No — bank transfers only |
| Gaming & betting | Accepted at 200+ brands | Restricted / declined |
| Crypto | Buy/sell 30+ coins | None |
| Local receiving accounts | No | Yes (USD, EUR, GBP, AUD, more) |
| Loyalty (Knect) | Yes — cash back | None |
| Best for | Gaming, crypto, merchant payments | Cheap bank-to-bank transfers |
Use Wise when
- You are wiring money from bank to bank between countries.
- You need a local receiving account (get paid in USD as a non-US resident).
- You want the cheapest possible mid-market FX with no wallet features.
Use Skrill when
- You deposit at gaming, betting, or Forex-broker sites.
- You want to buy or send crypto directly from the wallet.
- You pay at online merchants that accept Skrill checkout.
- You want a rewards program that pays you back in cash.
Cost example: sending €1,000 to another country
- Wise — mid-market rate plus roughly 0.4–0.6%, so about €5–7, landing in a bank account.
- Skrill (no VIP) — 1.45% send fee plus 3.99% FX, about €54, landing instantly in a spendable wallet.
- Skrill (Diamond VIP) — free sends and 1.29% FX, about €13, still instant.
Wise wins on price for pure remittance; Skrill wins when the recipient needs the money usable immediately. Try your own figures in the fees calculator.
Speed and availability
Wise settles most major corridors within hours and some in seconds, but funds always arrive in a bank account and are subject to that bank's cut-off times and weekend delays. Skrill moves wallet-to-wallet instantly, 24/7, including weekends and holidays — which is why gaming and Forex deposits use it.
Safety and regulation
Both are authorised by the UK Financial Conduct Authority as electronic-money institutions and both safeguard customer funds in segregated accounts. Neither is covered by deposit insurance, so neither should hold long-term savings. Read is Skrill safe for the detail.
Verdict by use case
- Monthly remittance to family → Wise.
- Getting paid in USD as a non-US resident → Wise local accounts.
- Gaming, betting and Forex deposits → Skrill.
- Buying and sending crypto → Skrill.
- Paying at online merchants → Skrill checkout.
Most specialists use both. Wise for pure remittance, Skrill for everything else — and see how they stack up against the rest in our best e-wallets guide.
Frequently asked questions
Is Skrill or Wise cheaper?
For pure bank-to-bank remittance Wise is cheaper (~0.4% on mid-market FX). For merchant checkout, gaming deposits, or when you already hold a wallet balance Skrill is cheaper.
Can I use Wise for gambling?
Wise's terms restrict use for gambling and Wise cards are often declined at betting sites. Skrill is the standard cashier at 200+ gambling brands.
Does Wise support crypto like Skrill?
No. Wise does not offer crypto buy/sell. Skrill has a built-in crypto service with 30+ coins.
Can I send money from Skrill to Wise?
Not directly. Withdraw from Skrill to your bank account, then fund Wise from that account. Both directions go through the bank rail.
Which is faster, Skrill or Wise?
Skrill is instant wallet-to-wallet and instant at merchant checkout. Wise transfers usually settle within hours and often in seconds on major corridors, but the money always lands in a bank account rather than a spendable wallet.
Is Wise safer than Skrill?
Both are regulated e-money institutions that safeguard client funds in segregated accounts — Skrill under the FCA, Wise under the FCA and equivalent EU regulators. Neither offers deposit insurance.
Do I need both Skrill and Wise?
If you send money abroad and also pay at merchants, gaming sites or Forex brokers, yes. Wise handles cheap bank-to-bank moves; Skrill handles spending, crypto and instant deposits.