On online bookmaking sites, you will see the word “Moneybookers” given in brackets after Skrill. That is the former name of this e-wallet, but now you can look for this method of payment by the name Skrill. The UK based service is popular in a host of countries, as an e-commerce option, and also as an e-wallet. The Skrill company, altough taken over by Neteller owners - PaySafe, continues to act as an independent brand.
Opening and funding your Skrill account
Opening your account with Skrill is done easily, and it is free as well. Afterwards it is also easy to pay from it, with the added benefit of high security. Being an e-wallet payment option, Skrill provides security, because you will only enter your card details once. In fact, you can fund your Skrill account from diverse sources, not only via bank cards, debit or credit ones, but also via bank transfers and other sources. For example, you can use a PaySafeCard to fund your account. You must check if there are any fees involved with each of the funding methods, to be aware what fees to expect and whether you will be charged such fees.
Skrill – a solution for gambling online when your bank account is registered in a country where gambling is illegal
When you live in a country in which it is illegal to gamble, and therefore cannot use your account to gamble online, Skrill comes as a welcome solution to enable you to deposit and withdraw on online bookies without problems.
Security of paying and gambling online with Skrill
The security on Skrill is ensured by a range of questions which you must answer in the course of your registration at the website. These questions later serve for the verification of your identity, so as to ensure that your payment will be safe. The service abides by strict principles about protecting customers' identity and dealing with fraud. That is why, when you create your Skrill account, you will have to verify the bank account or accounts that you wish to connect to your Skrill account. As a means of checking your identity, Skrill will send a small transaction to your bank account. You will have to check that amount, and use the information to finish the verification procedure regarding your account. That is the only time you need to perform such a verification on Skrill, after you have first registered there.
Afterwards, all your transaction implemented with payments via Skrill will be carried out with accompanying SSL encryption, which is highly secure. You will be protected from fraud by the fact that you will only need to enter your username and password on Skrill, and you will not disclose any information on your bank account during these transactions.
As was mentioned above, Skrill services are based in the UK. They are regulated by the Financial Conduct Authority (FCA). Combined with the fact that your account information is kept in one place, not entered on betting sites, this yields rewarding security that makes this method preferred by numerous punters.
The fees charged by Skrill and by online bookmakers
There are no fees for using your account on the Skrill service to receive, upload, or use funds to make online payments. But when you will send an amount to another Skrill account, or to an email address, you will be charged 1% of that amount; there is a limit of €10 as the maximum charge.
You must check with online bookmakers to see if they charge fees for using Skrill while gambling on them. There will hardly ever be any fees on depositing, but when you withdraw to your Skrill account you may be charged small fees, of the order of 1%.
PaySafeCard and Skrill benefits
The PaySafeCard service is owned by Skrill. PaySafecards are prepaid vouchers you can use for convenient, fast and safe payments. You can use the service in many countries, but first you must get your account on PaySafeCard. With this method, you can avoid using directly your Skrill account or your bank account. The payment system will act as an intermediary, implementing the connection between you and the online gambling site in the payment process.
With PaySafeCard and with Skrill you can pay online or gamble online, even when you have not opened any bank account. Furthermore, when you come from a country in which gambling is restricted, you can rely on Skrill and PaySafeCard to make deposits to gamble online.
Because of the above stated benefits, Skrill is becoming increasingly popular with online gamblers, reaching a popularity similar to that of PayPal.
Using Skrill on online bookmakers supporting Skrill payments
After you have found out that the bookmaker you want to gamble with accepts Skrill payments, you must open your account there, and choose Skrill from the menu featuring the deposit methods. You will register with the ID for your Skrill account, the password and the email address with which you have registered your account on Skrill. From the online gambling site, you will be transferred to your Skrill account, as a way of proving that you really have an account on this payment system. You will need to enter your details to prove your identity. Then you must enter the amount that you intend to deposit, and then that amount will be transferred to the online bookie. These steps will be implemented quickly, so the speed of payments is also very convenient.
When you are transferred to the Skrill site, the security of the connection will be proved by the padlock which appears in the address bar of the browser.
You must be aware that some UK online bookies will not award initial bonuses and free bets to punters who have made their first deposit via Skrill. So you must check about that detail too with the specific bookmaker. You may still find an online bookie which extends welcome bonuses. The reason for the restrictions on initial bonuses and free bets is abuse in the past by punters who have signed up several times with online bookies to get the initial bonus several times accordingly. A solution to avoiding missing the welcome bonus can be to make your first deposit via another payment method, and then you can switch to Skrill as your main option for making payments.