What is Skrill?
A Complete Review & Safety Guide
Skrill is a regulated digital wallet built for gamers, traders, freelancers, and anyone who moves money across borders. This guide explains how it works, whether it is safe, and how the Knect loyalty program rewards every payment.
What is Skrill in 2026?
Skrill is a digital wallet and online payment service owned by Paysafe, the same group that operates Neteller. It lets users store funds, send money, pay online, trade crypto, and withdraw to a bank account or prepaid card in more than 180 countries.
Founded in 2001, Skrill became popular in industries where speed and privacy matter: online gaming, forex trading, crypto investing, and freelance marketplaces. Today it supports 40+ currencies and is widely accepted by merchants that other wallets decline.
Unlike a bank account, Skrill is designed for fast digital transactions. You can fund it by card, bank transfer, or local payment method, then move money to merchants, friends, or your own bank account in seconds.
Quick facts
- OwnerPaysafe Group
- Founded2001
- Currencies40+
- Countries180+
- RegulatorUK FCA
- Prepaid cardMastercard (select regions)
Is Skrill Safe?
Safety is the most common question for digital wallets. Skrill is a licensed payment institution with strong security and consumer protections.
FCA Regulated
Skrill is authorized by the UK Financial Conduct Authority under electronic money regulations.
Two-Factor Authentication
Optional 2FA adds an extra layer of protection to logins and high-risk transactions.
SSL Encryption
All data is encrypted in transit using modern TLS standards, the same as online banking.
Segregated Accounts
Customer funds are held separately from company money in line with UK safeguarding rules.
Safety tips for users
- Enable 2FA and use a strong, unique password.
- Verify your account to unlock higher limits and full features.
- Only send money to merchants and people you trust.
- Monitor statements and report suspicious activity immediately.
Skrill Review: Pros and Cons
An honest look at where Skrill excels and where it may fall short for everyday users.
Pros
- Instant deposits on gaming, betting, and trading sites.
- Low-cost Skrill-to-Skrill transfers.
- Built-in crypto buy, sell, and transfer.
- Knect rewards on eligible transactions.
- Prepaid Mastercard for spending in supported regions.
- Multi-currency wallet with competitive FX for VIP users.
Cons
- Customer support can be slow during peak demand.
- Some funding methods carry fees.
- Not all merchants accept Skrill.
- Currency conversion can be expensive on the free tier.
- VIP benefits require maintaining transaction volume.
- Account verification can take time for some regions.
How Knect works
- 1Join Knect for free inside your Skrill account.
- 2Earn points every time you send, spend, or trade with Skrill.
- 3Redeem points for cash, bonuses, or other rewards directly in the app.
Skrill Knect Loyalty Program
Knect is Skrill's built-in loyalty program. Every eligible transaction earns points, turning routine deposits, transfers, and crypto trades into real rewards.
Unlike PayPal's limited rewards or Revolut's paid-plan cashback, Knect is available at no extra cost and rewards the exact behavior Skrill users already do: moving money, paying merchants, and trading crypto.
Points can be redeemed for cash credited back to your account, bonus funds, or other partner rewards. Active traders and gamers can accumulate points quickly, making Knect a meaningful reason to choose Skrill over a generic wallet.
Who Should Use Skrill?
Skrill is not a generic wallet. It is designed for users who need speed, privacy, and acceptance in specialist industries.
Online Gaming & Betting
Instant deposits and withdrawals on poker, casino, sports betting, and esports platforms.
Forex & Crypto Traders
Fund trading accounts and buy or sell crypto with high limits and fast settlement.
Freelancers
Receive international client payments and convert currencies at lower cost than traditional banks.
Remittance Senders
Send money home in 40+ currencies across 180+ countries with transparent fees.
How to Open a Skrill Account
Getting started takes about two minutes. Verification unlocks the full feature set and higher limits.
Sign up
Register with your email address and create a secure password.
Verify identity
Upload ID and proof of address to unlock full account features.
Add funds
Deposit by card, bank transfer, or local payment method.
Start using Skrill
Pay merchants, send money, trade crypto, or redeem Knect rewards.
Skrill Fees Explained (2026)
Opening a Skrill account is free. Fees only apply to specific actions — here is the transparent breakdown.
| Action | Standard | VIP |
|---|---|---|
| Open an account | Free | Free |
| Send money to another Skrill user | 1.45% | Free |
| Deposit by bank transfer | Free | Free |
| Deposit by card | Up to 2.5% | Up to 1% |
| Withdraw to bank account | €5.50 | Free |
| Currency conversion markup | Up to 3.99% | From 1.75% |
| Buy or sell crypto | From 1.50% | From 1.00% |
| Inactivity (12 months) | €5/month | €5/month |
Fees vary by region and are indicative — always check the current fee page inside your Skrill account.
Skrill VIP Tiers
Users who move higher volumes qualify for VIP status, which slashes transfer fees, currency conversion markup, and unlocks dedicated account managers.
Bronze
€6,000+ / quarter
Reduced FX, free Skrill-to-Skrill transfers
Silver
€15,000+ / quarter
Lower FX, priority support, higher limits
Gold
€45,000+ / quarter
Even lower FX, free withdrawals
Diamond
€90,000+ / quarter
Best FX (from 1.75%), dedicated manager, invite events
Deposit & Withdrawal Methods
Skrill supports 100+ local payment methods — one reason it is a favorite for cross-border users.
Deposit options
- • Visa & Mastercard (debit & credit)
- • Bank transfer (SEPA, Faster Payments, ACH)
- • Apple Pay & Google Pay
- • Paysafecard vouchers
- • Trustly, iDEAL, Sofort, Giropay, Bancontact
- • Crypto deposits (BTC, ETH, USDT and more)
Withdrawal options
- • Bank transfer worldwide
- • Skrill Prepaid Mastercard (select regions)
- • Visa direct (instant to eligible cards)
- • Crypto withdrawals to external wallets
- • Peer-to-peer to any Skrill user by email
Skrill vs Wise: Which Should You Use?
Wise is often confused with Skrill, but they solve different problems. Here is the honest, use-case-first breakdown.
| Feature | Skrill | Wise |
|---|---|---|
| Best for | Gaming, trading, crypto, peer-to-peer | International bank transfers |
| Gambling & betting sites | Widely accepted, instant deposits | Blocked on most operators |
| Crypto buy/sell inside wallet | Yes, 40+ coins | No |
| Loyalty rewards | Knect (free points on transactions) | None |
| Currency conversion | From 1.75% (VIP) | Mid-market + 0.4–0.6% |
| Local receiving accounts | No | Yes (10+ currencies) |
| Prepaid card | Skrill Mastercard (select regions) | Wise debit card (most regions) |
| Speed to fund a broker | Instant | 1–2 business days |
Choose Skrill if you deposit to gaming, betting, forex, or crypto platforms, or want built-in loyalty rewards. Choose Wise if your main need is cheap international bank-to-bank transfers with local IBANs.
Account Limits
Unverified accounts can send up to €2,500 lifetime. Once you complete identity verification (ID + proof of address), lifetime and daily limits are effectively removed for most users.
Verified accounts can typically deposit up to €10,000 per single card transaction and send up to €100,000 per day, depending on region and history. Crypto and merchant transactions have separate limits displayed inside the wallet.
Prepaid Mastercard holders in supported regions can spend up to €10,000 per day and withdraw up to €1,000 per day at ATMs.
Skrill Mobile App
The Skrill app for iOS and Android is where most users manage day-to-day payments.
Face ID & Fingerprint
Biometric login on both iOS and Android for fast, secure access.
Instant P2P
Send money to any email address in seconds with a single tap.
Crypto in-app
Buy, sell, and swap 40+ cryptocurrencies without leaving the wallet.
Knect rewards hub
Track loyalty points and redeem for cash or bonuses directly in the app.
Card controls
Freeze the Skrill Prepaid Mastercard instantly if you misplace it.
Transaction history
Filter, search, and export statements for tax or record-keeping.
Customer Support
Skrill offers support through in-app chat, email, and a comprehensive Help Center. VIP customers (Silver and above) get a dedicated account manager and priority ticket queues.
Response times average a few hours for general tickets and are near real-time for VIP chat. If your account is restricted, uploading requested verification documents inside the app is almost always the fastest path to resolution.
Skrill never asks for your password or 2FA codes via email or phone — treat any such request as phishing and report it via the in-app support channel.
Frequently Asked Questions
What is Skrill used for?
Skrill is used for online payments, money transfers, crypto trading, funding gaming and trading accounts, and receiving international payments as a freelancer.
Is Skrill safe for online gaming?
Yes. Skrill is a regulated payment institution with security features like 2FA and encryption. It is widely accepted by licensed gaming and betting operators.
How does Skrill Knect work?
Knect is Skrill's free loyalty program. You earn points on eligible transactions and redeem them for cash, bonuses, or other rewards in your account.
Does Skrill charge fees?
Skrill is free for opening an account. Some services, such as currency conversion, card funding, and bank withdrawals, may carry fees depending on your region and VIP status.
How is Skrill different from PayPal?
Skrill focuses on specialist use cases like gaming, crypto, and trading with lower peer-to-peer fees and the Knect rewards program. PayPal is more widely accepted by general online merchants.
Ready to open your Skrill account?
Scan to register
Average setup time: 2 minutes