Skrill Review

Rates and Fees
75/100
Truth in Advertising
70/100
Consumer Reviews
50/100
Customer Support
65/100
2.8

Best for

Low-risk businesses, multi-currency businesses, online stores, digital wallet

Specializes in

Skrill is an online wallet and digital money transfer platform that mainly focuses on money movement between people, digital wallets, businesses, and banks. It also processes credit and debit cards for different kinds of companies.

Pricing Summary

Setup Fee: $0

Monthly Fee: Undisclosed

Swipe Rate: 2.90% + $0.29

Keyed-in Rate: 2.90% + $0.29

Early Termination Fee : Undisclosed

Contract Terms:

No Contract Required Month-to-month
Visit Skrill

Skrill was founded in 2001 in London, U.K, and is headquartered in New York, U.S., and London, U.K as of 2008. Joel Leonoff founded the company, and at this point, Skrill employs over five-hundred people. The Paysafe Group owns Skrill. It is not an ISO of any bank. Skrill is an aggregator.

Skrill Overview

 

Skrill is an aggregator, online wallet, and digital money distribution platform that works as something similar to PayPal. As an aggregator like PayPal, while it can take your money almost immediately and make fast, convenient transfers possible, it is also capable of freezing funds without warning, and this is the main complaint of hundreds of merchants, which leads to its overall rep being negative. Skrill’s industry focus is on moving around money and processing payments of different kinds and currencies. Its pricing model is interchange-plus depending on how much you process a month.

Quick Facts

Head Quarters

London, UK

Year Founded

2001

CEO

Joel Leonoff

Employees

500

Merchant Provider Risk Tolerance

What We Like

Supports in-app payments

Integrates with third-party shopping carts

Hosted payment page

What We Don't Like

Account stability issues

Expensive fees to transfer money

Poor customer support

Basic reporting

Limited pricing disclosed online

Industries Served

  • Adult
  • Cigars & Tobacco
  • Clothing & Apparel
  • Convenience Store
  • Electronics
  • Gaming
  • Gas Station
  • Hosting
  • Moving Companies
  • Personal Service
  • SAAS
  • SEO & SEM Services
  • Sports Betting Advice
  • Thrift Store
  • Web Design Services

Business Types Served

  • Ecommerce
  • High Risk
  • High Volume
  • Information
  • Low Risk
  • Mom & Pop
  • Online
  • Retail / Card Present
  • Small Business
  • Wholesale

Skrill Products & Services

 

Point 1: Money Transfers, Digital Wallet


Skrill offers a convenient way for customers to transfer money through their digital wallet at any time. Like Paypal, customers and users can request or send funds through a digital wallet and transfer money between individuals or organizations if someone has a business account with Skrill. This is one of the ways that someone can pay through Skrill.

Point 2: Multi-Currency Support, Rapid Transfer


Skrill offers multi-currency support, which means you can pay and use different kinds of currency. The British Pound, the Canadian Dollar, or any other type of money, practically, is usable. This is good because this lets people worldwide pay in their currency and adds some convenience to the whole process.

Rapid Funds Transfer means that there are no long wait times for funds to go through. Most funds will transfer in one day or less.

Point 3: Payment Integration, Chargeback Protection, Risk/Fraud Management


Skrill also offers payment integration, chargeback protection, and risk and fraud management. All three of these are incredibly useful for a merchant to have as part of their business, and it may be one of the best features of Skrill’s platform. Payment integration makes it easier for customers to pay, and the other two services protect the merchant’s income and money and add safety and security.

Skrill Payment Processing

  • Credit Card Terminals
  • Debit Card Processing
  • Recurring Billing

Skrill Billing & Invoicing

  • Multi-Currency
  • Payment Processing
  • Recurring/Subscription Billing

Skrill Advertising & Sales

 
Skrill uses traditional methods of advertising and its own website to attract more customers and get people to make accounts with Skrill. There is no information about the use of independent resellers, which is a point in Skrill’s favor. Skrill’s sales model and pricing are relatively easy to understand. Skrill uses interchange-plus and adjusts the fees and rates depending on how much you process and sell each month. The full breakdown is below, but digging is required to discover the prices. Skrill does not engage in deceptive sales practices or misrepresentation of its fees. 

Truth in Marketing

Discloses All Important Terms

No

Public Pricing Available

Yes

Skrill Pricing, Rates & Fees

 

Skrill charges different rates with interchange-plus depending on what your business processes per month. There are four tiers, and they are dictated as such below. The pricing is not on the website, and digging is required to find it.


  • $3,000 and below are charged 2.90% + $0.29

  • $3,000-$10,000 are charged 2.80%+$0.29

  • $10,000-$100,000 are charged 2.70%+0.29

  • $100,000+ are charged 2.60%+0.29

Pricing at a Glance

Pricing Model

Interchange PlusFlat Rate

Swiped Rate

2.90% + $0.29

Keyed-in Rate

2.90% + $0.29

Mobile Payment Rate

Virtual Terminal Rate

2.90% + $0.29

Monthly Fee

Undisclosed

Payment Gateway Fee

Undisclosed

Batch Fee

Undisclosed

Early Termination Fee

Undisclosed

PCI Compliance Fee

Undisclosed

Equipment Lease Terms

Undisclosed

Address Verification Service (AVS)

Application Fee

Account Setup Fee

$0

Gateway Setup Fee

Undisclosed

Annual Fee

Monthly Minimum

Undisclosed

Statement Fee

Skrill Contract & Terms

Skrill does not have a traditional contract. Skrill instead offers a pay-as-you-go system that only differs rates depending on how much volume you process a month. There are no complaints about the deal, and no early cancellation fees or PCI compliance fees are shown.

Contract Length

No Contract RequiredMonth-to-month

Early Termination Fee

Undisclosed

Skrill Setup & Support

 

Setup Highlights

  • Documentation / Knowledge Base

Support Highlights

  • Domestic Phone Support (Business Hours)

Skrill Complaints, Ratings & Reviews

Skrill has an astronomical number of online complaints on a variety of different websites. BBB has 57 current complaints, and while many of them have been resolved, there are still several unsolved merchant complaints about Skrill. The majority of complaints deal with funds being frozen or fraud occurring, with poor customer service also rearing its head many times, more than once. BBB rates it as a 1 star out of 5 with two reviews.

Skrill has four stars or above from most websites. Skrill has no lawsuits, class-action or otherwise, leveled against it. 

Ratings

BBB

B(36 complaints)

Google

3.7 Stars / 91,593 Reviews (Google Play)

Facebook

No Reviews yet

Yelp

N/A

Reviews

Total Online Reviews

91 000+

Total Online Complaints

300+

Lawsuits

None

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