What is the most important thing when choosing an online casino or a virtual bookmaker? License, betting offer, free bets? Yes, but the choice of payment methods is also extremely important. After all, how quickly you deposit your money and withdraw winnings depends on the payment methods.
The Skrill payment system is often used for deposits and withdrawals in many online casinos including. This payment system is one of the most popular payment systems in Europe. This article will discuss this payment method in detail and analyze its advantages and disadvantages.
What Is Skrill?
The main difference from other payment systems is that Skrill does not earn from the customer who sends money, but the entire commission goes to the recipient of the funds, in our case a casino or, for example, a store. The average commission varies from 1% to 5% per transaction. The Skrill e-payment system is number one in the world and is widely used in the online gambling industry, as well as by freelancers and other people who work remotely.
In 2001, the FinTech company was founded and opened in London under the name MoneyBookers. The system only works with licensed casinos. Skrill allows you to transfer money from debit and credit cards, as well as by bank transfer. You can withdraw money in cash by bank check, bank card or SWIFT transfer. It is precisely because of the convenience and many ways to withdraw money that many players prefer Skrill.
How Does Skrill Work? How To Create An Account
Anyone can create a Skrill account right away. To create an account, you just need to visit the Skrill website and click “Register”. Then you should do the following:
- Fill in all the fields where you need to enter your email address and set a password. It is also recommended to enable two-factor authorization.
- Enter your name, surname in Latin and date of birth. We recommend that you use only real data, since you will not be able to withdraw money from the casino and then transfer it to the card if the data does not match.
- Select the country of residence and currency.
- Fill in the address, city and zip code fields.
- Add and confirm a phone number.
Once you complete these steps, your Skrill account will be activated! Online you will find all your recent transactions and your account balance, which you can deposit or withdraw. One of the many features of Skrill is that you can link a Skrill bank card to your account. This will allow you to withdraw money from ATMs and pay in restaurants and shops. The card will be issued within 7–10 working days.
Is Skrill Safe For Deposits And Withdrawals At Online Casinos?
Skrill is one of the safest e-wallets because of the two-factor authentication and the PCI DSS standard. PCI is about Payment Card Industry Data Security Standards, which ensure that transactions are safe and secure. The 128-bit encryption of the data ensures that payments with Skrill are indeed very secure.
Advantages of Skrill
Good country coverage: Skrill can now be used in 40+ countries.
Many supported currencies: Skrill supports more than 40 currencies including cryptocurrencies. This makes Skrill ideal for payments in crypto casinos.
Good transfer time: On average, payments with Skrill take 1-2 days.
Many payment options with which you can top up your Skrill account: Skrill supports many payment methods with which you can top up your Skrill account, including payments with credit cards, Neteller and Sofortüberweisung. You can also use one of these payment systems directly through Skrill. You are flexible.
High security: We have already mentioned this. Skrill scores very highly in terms of security. In addition, Skrill users can even request their money back if fraud is suspected.
Easy to use
Disadvantages of Skrill
Comparatively high fees for international transfers: Fees for international transfers vary by currency, but can be as low as 1%. There are payment systems that offer lower fees for international transfers (for example, Wise). You also have to pay commissions for withdrawing money from ATMs.
High fees for withdrawals: This aspect is one of the main disadvantages of using Skrill. For withdrawals via credit cards, fees are up to 7.5 percent, which is quite expensive.
Limited use in online trading (not so convenient): Skrill is very convenient when it comes to casino payments. However, not so many merchants worldwide accept Skrill as a payment method. This makes this payment method not so convenient.
Conclusion
The Skrill digital wallet is perfect for deposits and withdrawals at online casinos because of its high level of security and anonymity. If you want to pay at casinos with crypto money, Skrill is also the perfect option. However, Skrill is not very cheap, especially if you want to withdraw your money with Skrill.