Skrill has gained prominence as one of the most widely used and trusted e-wallet services. It’s widely used to make transfers, store funds, and withdraw payments to traditional services such as banks and cards. Skrill is especially well-received among online gambling enthusiasts as it provides a simple way to fund an online casino account and withdraw your winnings.
In this article, we’ll provide a guide to online casinos that use Skrill and all the advantages and disadvantages that can come with using the e-wallet for this purpose.
Enhanced Security
Security is one of the most important concerns for online casino users. Using some of the best Skrill casinos means enjoying the security features provided by both a trustworthy casino and the e-wallet itself. Skrill uses a two-step authentication process which means that there’s no chance for funds to be sent by accident. The second device used in this manner is usually a phone or a tablet allowing players to confirm each payment before it goes through.
Skrill also provides a buffer between a casino and the player’s personal accounts, since all the player needs to do is to connect the casino with a Skrill account, without providing bank account numbers.
Fast Transfers
Transfers made from a Skrill account to a casino are instantaneous regardless of the sum you’re transferring. However, many casinos have a limit as to how much a player can deposit at once or in a month. This can be a good thing, but it can also be a challenge if a player is able to transfer funds at any time and they are not disciplined with managing your bankroll.
The transfers made from a casino account to Skrill are somewhat slower, but they also don’t take more than a day or two.
Privacy
Using Skrill as a payment method provides a level of privacy for online casino players. The player doesn’t need to provide any more personal information than an email to connect a Skrill account to a casino account. That way the funds are moved to and from a Skrill account without providing the casino with a bank account or debit card number.
Users need to connect a Skrill account to a bank or a card to withdraw the funds, but for online payments, a Skrill account is all that you’ll need.
Almost Global Access
Skrill is one of the most well-known and trusted names in the world of online transfers. It’s available in almost every country in the world. This is important for players who plan to use Skrill from different locations and to use online casinos based anywhere in the world.
Skrill provides a list of about 30 countries and territories in which it can’t be used. It’s mostly countries that are currently involved in wars or countries of questionable sovereignty, so it won’t affect most players looking for online casinos to bet in.
Each country applies its own laws when it comes to taxes and personal ID requirements.
Casino Bonuses
Some casinos offer bonuses to their users who make payments with Skrill. These bonuses come in different forms, some lower their fees or don’t charge fees at all. Others provide a direct deposit that comes with wagering requirements attached. Others still match the deposits made by the players using Skrill. This comes with both limits and wagering requirements.
Bonuses are a useful tool for both the casinos and the players as they allow the players to bet with less risk. However, they are not free and players should always be aware of the small print.
Fee Structure
Skrill charges a fee when the users withdraw funds. These can be somewhat steep especially when compared to competitors providing similar services. High fees are especially an issue for players who bet on small amounts and withdraw their winnings often.
Fees for depositing funds range from zero percent (for depositing via a bank account) to five percent depending on which payment method you’re using. Fees for withdrawing funds from a Skrill account range from two to four percent.
There’s also a fee for inactive accounts – accounts that haven’t made any transfers in 12 months and it’s set at $5.
Limited Acceptance
Skrill is accepted almost everywhere in the world and there are only 30 or so countries that don’t allow their citizens to use it. However, it’s not as widely accepted among casinos. That’s partly due to the fees it imposes on the users and partly due to the crowded e-wallet market.
There are online casinos that are otherwise quite reputable and that offer all the games and all the features a player may expect from a casino- but don’t allow payments using Skrill. There’s nothing a player can do about this limitation, but find an alternative to Skrill.
Verification Process
Before they are able to make payments using Skrill, the users need to go through a verification process. The process requires the players to provide their personal documents and to verify their identity and place of residence. It takes a long time compared to competitors and it’s not always as smooth as the users would like.
Once you set up the account, head on to the “verification” section and prepare a passport, a photo ID, and proof of address, such as a utility bill. Once you submit all of these, all you need to do is wait for Skrill to approve your account.
Currency Exchange
Skrill accepts payments in many different currencies and serves as its own exchange. That means that the user can withdraw the funds in the local currency regardless of the currency they are paid in. It’s a convenient feature, but it comes with a downside as well.
The exchange rate set up by Skrill isn’t the same as the one designated by a national bank. In fact, the difference in exchange rate is a fee charged by Skrill for the service of exchanging currencies. Some users, especially those who withdraw small amounts, find this fee to be too high.
Withdraw Restrictions
There are restrictions as to how much a player can withdraw from a Skrill casino in a single take or at a set period. These are set by the casino and not by Skrill, but they affect the user either way. The limits come from the cost of a transfer as well as technical limits some casinos face.
This may be a problem for high-rollers and players who withdraw their winnings in a single batch. Withdrawing funds in smaller installments costs more in terms of fees and takes longer.
Conclusion
Skrill is a safe, simple-to-use, and popular e-wallet platform. It’s widely used among casino players, as it’s well suited to the needs of online gamblers. The payments made with Skrill are fast and the service is available almost everywhere in the world in a variety of different currencies. A Skrill account can be set up as a payment method with nothing but an email.
The fees paid when transferring funds from Skrill are rather high and many casinos limit how much you can withdraw at once. There are also fees to pay when converting currencies. The process for setting up a Skrill account is also somewhat more complicated and slower than with competitor e-wallets.
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