Skrill is a digital wallet and money transfer service that lets you hold, send, and spend money online without a traditional bank account

Skrill is a company that holds your money in an online account — sometimes called a digital wallet or e-wallet — and lets you move that money to other people, pay for things online, or withdraw it to a bank card. You fund your Skrill account by transferring money from a bank account, credit card, or debit card. Once the money is in your Skrill account, you can use it to pay merchants that accept Skrill, send it to other Skrill users, or request a withdrawal to your bank or a Skrill card.

Skrill is owned by Paysafe, a larger payments company, and operates in most countries outside the United States. It is not a bank — Skrill does not offer loans, savings accounts, or the protections that come with a traditional bank account. It is a payment service, similar to PayPal or Wise, but with a different set of features and fees.

Key Takeaways

  • Skrill holds your money in a digital wallet and lets you send it to other people, pay online merchants, or withdraw it to a bank card.
  • You can fund a Skrill account using a bank transfer, debit card, or credit card, though fees vary by funding method.
  • Skrill charges fees for most transactions — sending money, withdrawing cash, and currency conversion all cost money.
  • Skrill is not a bank and does not offer the same protections as a bank account, so money held in Skrill is not insured by government deposit protection.

How you fund and use a Skrill account

To start using Skrill, you create an account online or through the Skrill mobile app, provide your name and email address, and verify your identity. Verification usually requires a photo ID and proof of address, similar to opening a bank account. Once your account is verified, you can add money by linking a bank account, debit card, or credit card.

Once money is in your Skrill account, you can use it in several ways. You can send money to another person's Skrill account, pay a merchant that accepts Skrill as payment, load money onto a Skrill prepaid card (if you request one), or withdraw the money back to your bank account. Each of these actions carries a fee, which Skrill deducts from your balance.

Skrill fees and what they cost you

Skrill makes money by charging fees on nearly every transaction. The exact fees depend on what you are doing and which country you are in. Sending money to another Skrill user typically costs between 1% and 2% of the amount sent, though Skrill may charge a flat fee instead depending on the amount. Withdrawing money to your bank account usually costs a flat fee — often between $2 and $5 — plus a percentage of the amount withdrawn. Loading money onto a Skrill card or converting currency also costs money.

The fees are not always transparent upfront. Skrill shows you the fee before you confirm a transaction, but the fee structure is complex and varies by country and payment method. If you use Skrill frequently, the fees can add up quickly. For example, if you send $100 to another person and then that person withdraws it to their bank account, both of you will pay fees, meaning less than $100 reaches the final destination.

When people use Skrill and why

Skrill is most common among people who work online and receive payments from international clients or platforms that do not pay to traditional bank accounts. Freelancers, remote workers, and people in countries with limited banking infrastructure sometimes use Skrill because it is faster than waiting for a wire transfer and does not require a bank account. Some online gambling and betting platforms also use Skrill as a payment method, though this varies by country and is restricted in some places.

Skrill is also used by people who want to send money to family in other countries without using a bank wire, which can be slow and expensive. However, there are often cheaper alternatives for international money transfer, such as Wise or other remittance services designed specifically for that purpose.

How Skrill differs from a bank account

A bank account and a Skrill account serve different purposes. A bank account is regulated by government banking laws and your deposits are insured — in the United States, the Federal Deposit Insurance Corporation (FDIC) insures up to $250,000 per account holder per bank. If the bank fails, your money is protected. Skrill is not a bank and does not offer this protection. If Skrill goes out of business or is hacked, there is no government may provide that you will recover your money.

A bank account also lets you write checks, set up automatic bill payments, and build a credit history. Skrill does none of these things. Skrill is designed for quick online payments and transfers, not for everyday banking. If you need a place to store money safely long-term, a bank account is the right choice. If you need to move money quickly online or receive payments from international sources, Skrill may be useful — but it should not be your only financial account.

Skrill cards and how they work

Skrill offers a prepaid card that you can request once your account is verified. This card is linked to your Skrill balance and lets you spend money at merchants that accept Mastercard, including ATMs. You load money onto the card by transferring it from your Skrill account balance. The card itself is free to request, but Skrill charges fees for loading money, withdrawing cash from ATMs, and sometimes for inactivity if you do not use the card for a long period.

The Skrill card is useful if you want to spend your Skrill balance in physical stores or withdraw cash, but the fees make it expensive compared to a regular debit card linked to a bank account. If you only need the card occasionally, the fees may outweigh the benefit.

Security and what happens if something goes wrong

Skrill uses encryption and security measures to protect your account, similar to a bank. You can set up two-factor authentication to make your account harder to hack. However, if someone gains access to your account and transfers your money, Skrill's refund policies are less clear than a bank's. Banks are required by law to refund unauthorized transactions within a certain timeframe. Skrill's policies vary by country and situation, and disputes can take weeks or months to resolve.

If you lose access to your Skrill account — for example, if you forget your password or your email is compromised — you can contact Skrill support to regain access. However, Skrill's customer support is primarily online and may be slow to respond, especially if you are in a country where Skrill is less established. A bank typically offers phone support and faster resolution.

Frequently Asked Questions

Is Skrill safe to use?

Skrill uses encryption and security measures to protect your account, but it is not a bank and does not offer government deposit insurance. Your money is at risk if Skrill is hacked or goes out of business. For long-term savings, a bank account is safer.

Can I use Skrill in the United States?

Skrill does not operate in the United States, so you cannot create a Skrill account if you live there. Some payment platforms and online services used by Americans may accept Skrill from international users, but Skrill itself is not available to U.S. residents.

How long does it take to withdraw money from Skrill to my bank account?

Withdrawal times vary by country and bank, but typically take between 2 and 10 business days. Some countries are faster than others. Skrill will show you the estimated time before you confirm the withdrawal.

What is the difference between Skrill and PayPal?

Both are digital wallets, but PayPal is available in the United States and more countries overall. PayPal also offers buyer protection for purchases and is more widely accepted by merchants. Skrill is smaller and more common for international money transfers and online work payments outside the U.S.

Can I use Skrill to pay bills or buy groceries?

Skrill is not widely accepted at physical stores or for bill payments. You can use the Skrill card at merchants that accept Mastercard, but most utility companies and grocery stores do not accept Skrill directly. For everyday spending, a bank debit card is more practical.