Skrill: Another Remarkable Online Payment System from Paysafe Group
Did you know that by 2014, Skrill had earned $331 million in revenue? It’s one of the most prominent online payment subsidiaries of the Paysafe Group other than Neteller and PaysafeCard. Formerly known as Moneybookers, Skrill was founded in 2001 with headquarters in 25 Canada Square, in London, United Kingdom and since then, it boasts of a customer base of 20 million active users.
Like Neteler, its sister company, Skrill has gone a step further to allow cryptocurrency transactions from 40 fiat currency purchases instantly; making online transactions easier, especially for online gamers. Better yet, one of the other reasons that have boosted its growth is the fact that it has a mobile application to help mobile users transact on the go using their mobile devices.
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How to Use Skrill
As expected, you can only use this online payment system if you are a Skrill account holder. The registration process is a relatively easy task to undertake and it won’t take you more than a few minutes quick minutes to set things up. All you need is to fill in your name, email and create a password and you are set to make online payments to and from your online casino account.
After creating your account, here’s how you can load and cash out money from your Skrill account.
How to Deposit and Withdraw Using Skrill At Canadian Casinos
You can load money to your Skrill account using a range of merchants ranging from credit, and debit cards to wire transfers as well as Neteller and a PaysafeCard voucher. However, you have to connect these merchants to your Skrill account first.
Each payment option has its clearance time that ranges from a few minutes to hours depending on verification procedures and security measures. Credit cards, for instance, can attract a matter of days for authentication but after that, deposits to your Skrill account will be instant.
So, if you want to fund your Skrill account, here’s what you are supposed to do;
Log into your Skrill account
Navigate to the depositing section labeled ‘Upload Funds’
You will be furnished with several deposit options these include interbank transfer, credit/debit card, Paysafe card, and manual bank transfer.
You simply click on ‘add card’ option, click on your preferred bank logo; enter the card number, expiry date, and security code
For instant bank transfers, click or on “card and bank accounts “section add a bank account, fill in the details and your skrill account will then be credited instantly.
In case you are using a PaysafeCard, enter the code as needed and the amount will reflect right away.
After loading funds to your Skrill account, you can easily connect it to your casino account and deposit your bankroll as needed.
How to Withdraw Funds from Skrill
After gaming online and raking in some monetary rewards, you can withdraw your funds directly to your Skrill account. Once the money is processed, here’s what you should do to withdraw the money;
Log in to your Skrill account
Navigate to the withdrawal section and pick either Visa or SWIFT
Enter the amount you wish to transfer and you are good to go.
You will have to wait for up to 7 days for your money to be processed.
In case you own a pre-paid card from Skrill, you can withdraw the money directly from your ATM in an instant, zero waiting time! So, if you need the money urgently, having a pre-paid MasterCard by Skrill is the fastest option.
Skrill Transactional Fees
When it comes to transaction fees, you will have to part with only 1% of your money when loading your Skrill account via the accepted merchants. For cashing out, on the other hand, Skrill will charge you differently as well depending on the channel that you decide to use;
Bear in mind however that when it comes to transactions to and from casinos, you will have to confirm the fees from the online casino itself because they often vary.
Skrill has a two-step verification process. It usually involves using a Google authenticator in conjunction with your password. In addition to this, there is an authentication code sent to your mobile phone through SMS confirming the actual account holder is logging in.
The payment giant encrypts all communication between the client and the platform ensuring no third parties can access your information. Payment Card Industry Data Security Standards Level I security ensures that even upon interception third parties cannot actually read the messages or data.
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Advantages and Disadvantages of Using Skrill
In a nutshell, here are the merits and demerits of using Skrill for loading and cashing out from your online casino account;