Skrill

Overview

Founded in 2001 and headquartered in London, United Kingdom, Skrill (formerly known as Moneybookers) is a global digital wallet brand under the Paysafe group. Skrill enables users in over 100 countries to make online payments, send P2P transfers, and exchange currencies across 40+ fiat currencies, making it one of the most widely used payment platforms worldwide.

As of 2026, Skrill has over 50 million registered users and processes millions of transactions daily. Its product line spans digital wallets, prepaid cards, and merchant payment gateways, offering a one-stop online payment solution for both individual consumers and e-commerce merchants. Skrill holds an e-money license from the UK Financial Conduct Authority (FCA) and maintains compliance licenses across multiple countries.

Key Strengths

• Broad international coverage: Supports 100+ countries and 40+ currencies across Europe, Asia, the Americas, and Africa. For cross-border payment scenarios, users can exchange and transfer funds directly in the wallet without needing bank accounts in multiple countries.
• Low fee structure: Standard transaction fee of just 1.9% (borne by the recipient), with free P2P transfers and free deposits. Compared to traditional wire transfers at 3%-5%, digital wallet payment solutions offer clear cost advantages for cross-border use.
• Prepaid card functionality: Skrill offers Visa-branded prepaid cards (physical and virtual), linked to the digital wallet balance for use at offline merchants and ATMs worldwide. This creates a flexible fund access loop within online payment solutions.
• Merchant payment gateway: Skrill provides a payment gateway API for e-commerce platforms with one-click integration, accepting payments from digital wallet users and credit card holders globally. Transparent fees and fast settlement cycles make it suitable for e-commerce platforms and independent stores.

Product Ecosystem

Digital Wallet

Skrill's core product is an electronic wallet supporting deposits and balance management. Users can fund their wallet via bank transfer, credit/debit cards, and various local payment methods. Wallet funds can be freely exchanged across 40+ currencies with real-time exchange rates.

Skrill Prepaid Card

Skrill issues Visa-branded prepaid cards (physical and virtual) linked to the digital wallet account. Users can spend or withdraw cash at Visa-accepting merchants and ATMs worldwide. The card supports spending limits and online/offline usage toggles for enhanced security.

Skrill Merchant Payments

A payment acceptance solution for businesses and individuals, supporting website payment buttons, payment links, and API integration. Merchants can receive payments from Skrill wallet users and credit card holders, with support for 100+ local payment methods and recurring billing. Real-time transaction notifications and detailed reporting are included.

P2P Transfers

Skrill users can send free transfers to each other using just an email address or phone number. P2P transfers are instant and do not require sharing bank account information, making them ideal for small cross-border remittances between individuals.

Limitations

• Regional access restrictions: Skrill cannot be registered or used in mainland China, Iran, and certain other countries. Merchants targeting these markets need local payment gateways as alternatives.
• High withdrawal fees: Transferring Skrill balance to a bank account can cost up to €5.50 in some regions via wire transfer, with unfavorable exchange rate margins for smaller currencies. The total cost of large fund outflows should be evaluated in advance.
• Slow customer support: Skrill's support is mainly ticket and email-based, with live chat limited to business hours and delayed response during peak periods. For urgent transaction disputes, the experience lags behind payment providers offering 24/7 phone support.

Use Cases

• Personal cross-border transfers (★★★★★): Free P2P transfers with competitive exchange rates for international remittances.
• Online payment spending (★★★★★): Coverage across 100+ countries and 40+ currencies for broad e-commerce acceptance.
• E-commerce merchant collection (★★★★): Simple payment gateway integration at 1.9%, competitive for small to medium merchants.
• Prepaid card spending (★★★★): Digital wallet + physical card loop for frequent international travelers.
• High-volume wallet usage (★★★): Active users should note the inactivity fee (€5/month after 12 months of inactivity).

Pricing

FAQ

• How does Skrill differ from PayPal? Skrill focuses on cross-border and prepaid card scenarios with a 1.9% transaction fee, lower than PayPal's 2.99%. However, PayPal has broader brand recognition and merchant acceptance. See Skrill vs PayPal comparison.

• Can Skrill be used in China? Skrill cannot be registered in mainland China, but existing users outside China can receive payments from Chinese senders. E-commerce sites targeting Chinese consumers should also support Alipay or WeChat Pay.

• How to avoid the Skrill inactivity fee? Log in or complete at least one transaction every 12 months. For long-unused accounts, transfer the balance out and freeze the account. See Multi-Currency Payment Account Guide.

• Can Skrill prepaid card be linked to Alipay? No. The Skrill prepaid card is a Visa card usable at Visa-accepting merchants and ATMs, but cannot be directly linked to Alipay or WeChat Pay. See Digital Products Payment Guide.

• What is Skrill's merchant settlement cycle? Standard T+2 business days. High-volume merchants may negotiate shorter cycles. New merchants may experience an initial 7-14 day settlement hold. See Global Payment Gateway Rate Comparison.