Skrill (originally known as Moneybookers) is an e-wallet service based in the United Kingdom and one of the most popular methods by which players can transfer money to and from online casinos. With over 250 participating casinos and 23.6 million members worldwide, they have emerged as a leader in the online gaming world and elsewhere. With a variety of funding methods, instant account access, and access to 200 countries in 41 different currencies, it's easy to see why.
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Skrill is a type of online financial transactor known as an e-wallet. Using Skrill, you are able to load your account with money, send it to various merchants including online casinos, or withdraw it back into cold, hard cash. Because of this, you do not have to provide any online casino with your own financial information; it is all kept strictly with Skrill.
Another big plus with Skrill is the ability to get your account running in just a few minutes. All you have to do is visit their website (http://www.skrill.com) and fill out the registration form. Once you've got your account activated, you are free to begin using it. In order to make a deposit, you will likely need to verify a few things however.
Although Skrill does accept users from the United States of America, UIGEA regulations prevent them from allowing them to make deposits to or withdrawals from any online gaming merchant.
To get funds added to your Skrill account, you have a variety of options at your disposal. The single most common method is by using your credit or debit card. Skrill accepts all major credit cards and processes them instantly with only a 1.9% fee. In order to use this method, you'll just need to verify your credit card through the Skrill website.
If you would like to upload your funds with no processing fees from Skrill, you may also use the wire transfer method. This cannot be done automatically. If you're interested in using the wire transfer, you'll need to start the transaction with your bank using the details provided by Skrill. The transaction takes between 2 to 5 days.
Many locations also have access to certain local funding options. If you are on the list of supported countries, you will likely be able to send an automated bank transfer or cheque. Other options include third-party online payment services and less common credit cards. Most of these entail some kind of fee, so make sure you fully understand a method before using it.
When you decide to withdraw your funds from your Moneybookers account, you can do so via postal cheque or wire transfer internationally. Residents of most major locales also have access to an automated bank transfer, withdrawal back to a Visa credit card, or courier cheque. Each of these methods comes with a fee, so make sure you weigh the pros and cons of each before deciding on one.
Out of all the e-wallet solutions that can be used to fund and cashout of online casinos, Skrill continues to be one of the most hassle-free. Although you will be faced with limits when you first create your account, they can be raised significantly with minimal effort. Depending on your location, you may be able to verify your identity, credit cards, and bank accounts to raise your limits.
If you live in virtually any European country, you can have access to your Skrill funds with a MasterCard directly linked to your balance. Just fill out the application on the Skrill website and if you qualify, you will be mailed your own prepaid card valid at any merchant that accepts MasterCard. With a €10 annual fee and only a €1.80 charge for ATM withdrawals anywhere in the world, it's considered the most convenient way to access your Skrill funds by the majority of Skrill users.