Skrill in Canada
If you regularly buy and sell products online, there is a high chance that you've heard about Skrill. It has gained great popularity online, but even a quick search reveals mixed feedback - while many reviewers are satisfied with the service they received, others are making posts about Skrill scams.
According to Skrill, more than 150,000 merchants that use the platform, and millions of customers have successfully transferred funds using it. This Skrill Canada review explores what it has to offer, its legitimacy, perks of using over other platforms (Skrill vs. Paypal or Skrill vs. Neteller), and a lot more.
What Is Skrill?
Let's start with a quick overview of what Skrill is and its history.
Skrill is an online payments company, similar to PayPal. The service has become widely used among merchants who require multi-currency payment processing both domestically and internationally.
Skrill was founded in the UK in 2001. It was originally called Moneybookers and focused primarily on gambling and e-sports transactions. Now the company has grown to become a leading payment processor with headquarters both in London and New York.
Here are some of the most notable events in the company's history:
- 2001 - Moneybookers Limited was incorporated in the UK.
- 2009 - Expansion into financial services other than just gambling and e-sports and being sold at an estimated £365 million.
- 2011 - Customer base of 25 million and integration into global online brands, such as Facebook, Skype, and eBay. Also, the company decided to start the rebranding process.
- 2013 - Completion of the rebranding process.
- 2015 - Purchase of Paysafecard, an Australian prepaid card program, and Ukash, a UK-based competitor of Paysafecard, and a merger with Neteller, one of their largest competitors.
- 2018 - Introduction of cryptocurrency transactions.
- 2021 - Skrill Rolls Out Crypto-to-Fiat Withdrawal Feature in Europe.
About Skrill in Canada
In late 2013, Skrill/Moneybookers announced they were no longer going to offer services to online gamblers located in Canada. We didn't find any specific reasons for this change. It wasn't brought about because of changing legislation in Canada or the legal status of gambling. Instead, this move was made purely as a company decision.
At the time of the pullout, Skrill had surpassed all the competition and was considered the largest online gambling wallet by volume. There is a widespread assumption that Skrill made decisions not long after Titan Poker threatened to pull out of the Canadian market. It may be a coincidence, but there is still insufficient information to make a conclusion.
However, the situation with Skrill isn't completely bad for Canadians. Canada is one of the countries that Skrill Money Transfer allows money to be sent from. The same situation applies to South Korea, Norway, Hong Kong, United Arab Emirates, Czech Republic, and many other countries.
So, if you're a Canadian resident and you want to use Skrill, you can only send CAD but not receive it.
Skrill's Mobile App Review
The easiest way to access your Skrill account is to get their mobile app. This way, you'll be able to handle your financial operations on the go. Plus, you can keep track of the Skrill fees to get yourself the best deal.
Here is a quick rundown of what the app enables you to do:
- Login to your Skrill account - Access the same dashboards as the desktop version and manage your account just like you usually would. The good thing is that once you log in, you don't need to enter the same information numerous times.
- Send money - Obviously, this is the main purpose of the entire service. The process is the same for mobile as for the web-based platform and takes a few minutes from start to finish.
- Upload funds - If you've depleted your account, you can top it up directly through the app. Choose your preferred deposit option and upload any amount of money you need for future transactions. Keep in mind the fee structures for different methods.
- View transaction history - Checking your account frequently helps you see where you stand and spot problems. Make a habit of regularly looking at your transactions and account balance, which is a very quick thing to do thanks to the app.
Overall, the app quality is great - it's easy to use, there haven't been any controversies around it, and the team regularly releases updates.
Where Can You Download the Official App?
You can download the Skrill app on the Google Play and App Store for free. For Android, the app is compatible with OS 4.4 or higher and has over 5 million downloads and over 70,00 Skrill reviews. For iOS, Skrill requires version 10.0 or later and has an average rating of 4.5/5 with 2,000 reviews.
When Skrill Works
Skrill Canada fulfills multiple customers' needs in the modern, fast-paced environment where financial operations have to be quick and convenient. We'll go over the most common and, by extension, the cases in which the service is most useful.
- Send, receive, and request money from friends and family instantly: Before going into the business side of Skrill, it's simply a good service for everyday transfers among people you personally know. For example, let's say you go out and want to split the bill; now, you can open the app and do it in mere seconds.
- Freelancers, self-employed, and solo entrepreneurs: This group of people is also on the lookout for a better way to request and receive payments from clients. A multi-currency online account is great for people accepting remote or even international projects.
- Small and medium businesses: Skrill bodes well for businesses who would like to offer flexible payment methods to their customers. It caters to many different industries and different volumes of transactions.
- Online marketplaces: For most e-commerce companies, it doesn't make sense to build a payment infrastructure from scratch. The best way is to make agreements directly with online processors, such as Skrill.
- Traders and gamblers: There are many challenges facing trading and online gambling, like security, fraud prevention, laws, and regulations. The ideal way is to move to transparent, customer-focused processors.
- Travellers: Travellers can be reliant on their mobile devices and use general-purpose prepaid cards abroad or withdraw cash from ATMs. This eliminates the risk of being left with no funds.
Skrill in Canada
CAD isn't supported at this moment. To use Skrill in Canada, you need to make all your transfers in USD.
While it's not ideal, it's still a sufficient way to overcome this obstacle. However, in this case, users are subject to a currency conversion fee of 3.99% when transferring money in a foreign currency.
The good thing about Skrill Canada is the opportunity to buy and sell cryptocurrency. The option isn't available in all countries but is, in fact, available for Canadian customers.
How Much Does Skrill Cost?
In making a decision about any financial service, the fees and benefits are essential factors to consider. If you want to avoid unexpected surprises, see the rundown of fees down below.
Pro tip: While you can't eliminate all the fees, there are ways to knock at least some of them off. You can sign up for Skrill's loyalty and affiliate programs, such as Knect Loyalty Program, the VIP Program, the VIP Ambassador Program, and Paysafe Affiliates.
When banks are involved, they apply fees beyond Skrill's control. So, if you're using this service for online casinos and sportsbooks, beware of the cash advance fees. Other than that, Skrill maintains transparency in terms of what you're charged for topping off your account.
Local payment methods:
- Regular wire transfers, Fast Bank Transfer, Paysafecash, Rapid Transfer, Trustly - 0%
- Bitcoin, Neteller, Paysafe card - 1%
Global payment methods:
- American Express, Diners Club, JCB, MasterCard, Visa - 0%
If you want to withdraw money after receiving it, Skrill has a few options for you to choose from. Here are their corresponding fees.
Local payment methods:
- Regular wire transfers - around $6
- Visa - 7.50%
Global payment methods:
- Swift - around $6
Fees for Sending Money
Although Skrill advertises itself as a fee-free platform, there are transfer fees as well. Make sure you know them before sending transactions in any direction.
Skrill money transfers:
- International transfer - free to any international bank account
- Domestic transfer - up to 2%
- Receive money - 0%
Skrill to Skrill:
- For customers registered after 8 April 2020 - 0% if you used a card or a bank account, 4.49% if you used NETELLER, Paysafecard or BitPay
- For customers registered 18 March - 7 April 2020 - 0% if you used a card or a bank account, 10% for the first transaction if you used NETELLER, Paysafecard or BitPay, 2.99% for the subsequent ones
- For customers registered before 18 March 2020 -0% if you used a card or a bank account, 20% for the first transaction if you used NETELLER, Paysafecard or BitPay, 1.45% for the subsequent ones
- Receive money - 0%
Skrill Prepaid MasterCard
Skrill has incredibly favourable terms for its prepaid card. However, the downside is that it's available only to residents of authorized European Economic Area (EEA) countries. But if you're lucky enough to be in this area, you won't be charged with additional fees:
- Goods in shops, restaurants and online - 0%
- Balance enquiries - 0%
- Online statements - 0%
- PIN retrieval - 0%
Whether you pay locally or overseas, the absence of fees doesn't change. That said, users need to pay an annual fee of around $11 and a 1.75% fee for ATM withdrawals.
You also need to look out for changes that a VIP status makes. This information is described in more detail in the Skrill Card section on their website.
Buy and Sell Cryptocurrency
Unlike other types of transactions, crypto buy/crypto sell always comes at a fee. Still, the rates are acceptable, especially in comparison to many other competitors. Here are the terms and fees:
- Transactions up to $19.99 - $0.99 per transaction
- Transactions between $20-$99.99 - $1.99 per transaction
- Transactions above $100 - 1.50 % per transaction
For crypto P2P, there is a flat fee of 0.50 % per transaction.
Account Maintenance Fees
Just like many other services, Skrill charges a fee in order to cover costs associated with maintaining Skrill accounts and certain perks that may be added on:
- Chargeback fee - $25 per chargeback
- Attempted cash upload fee - $10 per upload
- Prohibited transactions fees - up to $150 per instance
- Reversal of a wrong transaction fee - up to $25 per reversal attempt
Additionally, Skrill charges quite a unique fee - for managing inaccurate or untruthful information on the platform. The fee amounts to up to $150.
Always read the information given in fine print as there may some conditions that you wouldn't have thought of otherwise. For example, in general, the account is free for personal use. However, if you aren't active for 12 months, there will be a service fee of $5 automatically charged on your account.
Lastly, there is a currency conversion of 3.99% to wholesale exchange rates. If you're operating in any currency other than euro, there will be a 1.5% applied to each transaction.
How Do You Get Started with Skrill in Canada?
The process of making your first transaction using Skrill varies slightly depending on where you're sending money from and where to. But generally, we can apply the steps below in any case. If you don't already have an account, here is what you need to do.
Set Up a Personal or a Business Skrill Account
In the beginning, choose between a personal and a business account. The first is unsurprisingly for private individuals that are looking for a better alternative to traditional money transfer methods. The other type is for merchants with payments and account management being in that company's name. The main difference between the two types of accounts is the fee structures.
Before you can make your first deposit, you'll need to verify your identity. Once again, the rules slightly differ - this time, based on your location. Generally, here is the type of information you'll need to submit:
- Personal data - name, address, date of birth and a national identification number;
- Answers to knowledge-based questions - These are questions generated specifically for the user, for example: "type of car owned in 2012";
- Additional information - This one is optional. But if you want to establish better security for your account, you can set up multi-factor authentication.
How long does Skrill take to verify? It usually takes between 24 hours and 48 hours.
Set Up Your Transfer
After creating an account, users will need to deposit money to their Skrill wallet using their bank account, credit card, or debit card. Then, they'll need to enter the amount and currencies of the transfer, provide details of the beneficiary, and input any other requested information. We'll provide more detailed instructions on different kinds of transactions later on.
Is Skrill safe? After adding several extra steps to the verification process and the process of making each transaction, Skrill has vastly improved their security. Let's see the exact methods of keeping users' funds safe.
How to Verify My Account and Increase My Limits
The process for increasing your limits simply includes additional account verifications and takes the following steps:
- Upload a photo of a document like a driving license, passport, or national ID card;
- Verify an address or manually upload an address verification document;
- Fund your account in any way available in the Deposit section;
- Download the Mobile App or take a selfie;
- Finally, you will receive an email confirmation.
What Is Strong Customer Authentication?
Strong Customer Authentication is a requirement that ensures that payments are performed with multi-factor authentication. This is done either by sending a 6-digit SMS code or by setting up a verified email address, which is common for many similar platforms.
Two Factor Authentication (2FA)
2FA is an additional layer of security that adds a second level of authentication to an account login. To switch it on, users need to:
- Go to your Account - Settings - Security;
- Click on the 2-factor authentication tab and turn it on;
- Install the Google Authenticator app and scan the QR code;
- Get a 6-digit code from the app and finalize the verification.
How to Reset Your Skrill Password
All you need to do to reset your password is go to the login page and click the forgot password link. Then, enter the email address into the text box and wait for the instructions to be sent. This will practically be an automatic process, with only a few actions necessary on your part.
Reasons to Use Skrill
Are there any actual benefits for businesses and regular users to choose Skrill? Let's find out why this service is recommended so often.
Variety of Payment Methods
Skrill supports bank transfers, card deposits, cash deposits, e-wallet transfers, and cryptocurrency deposits. This gives users much-needed freedom to choose whatever methods suit them the most.
All elements of a standard transaction, including amount and currency, recipient details, and all other payment information, are shown on one page. The process is straightforward, even for first-time transfers, not to mention recurrent payments.
You can make payments in multiple currencies to a maximum of 3,000 recipients in a single procedure. This is especially convenient for online merchants and other vendors that are forced to manually enter transaction info each time.
If you can keep the VIP status, you will enjoy many perks. For example, you get priority bank uploads and higher transaction limits - both for Internet purchases and in the real world. You are also offered reduced fees and a personal account manager.
Integration with Online Retailers
Any app can be integrated with Skrill Quick Checkout. It simply requires collecting customer payment information on the merchant's website in a standard HTML form and submitting this to Skrill. Thus, you can expand to over 200 countries and territories worldwide and get the advantage of a wide range of risk and anti-fraud settings.
Mobile and Online Digital E-Wallet
A digital wallet provides instant payments, better security of transactions, a competitive differentiation for businesses, higher conversion, access to a larger number of customers, and the ability to run customized promotions.
Around the Clock Customer Support
Whether you have a general question about the service, or you need assistance resolving an issue, a prompt response is always helpful. When it comes to finances, there is no room for guesswork and mistakes, which Skrill accommodates to.
Fully Licensed and Regulated Company
Skrill is originally a UK-based company, which is where it acquired its license. The company is regulated by the Financial Conduct Authority, making it a trustworthy Money Service Company. So, users can be sure their funds are protected, and no illegal activity is taking place within the company.
Which Sites Accept Skrill in Canada?
There are multiple uses for Skrill in the Canadian market, including online casinos, sports betting, gaming websites, and shopping. All these transactions can be carried out in one handy place. For a more detailed list of websites, see the categories below.
Betting and Gambling
Since Skrill was originally started as a payment processor for online gambling websites, it offers quite a good range of websites. Over the years, the number of gamblers and casinos that choose Skrill has been steadily growing.
See some of the best Canadian online casinos that accept Skrill, but remember that there are so many that we can't name all of them:
- Spin Casino
- Royal Vegas
It's very useful to have a way to upload funds from bank accounts, cards, or prepaid vouchers and pay while you play. Skrill users can make fast, easy payments on the following gaming sites:
Skrill and Bitcoin
The Skrill account supports adding and transferring funds in Bitcoin/Bitcoin Cash from Bitcoin apps. Users can convert their cash to Bitcoin by purchasing it at the Currency Exchange (operated by Bitcoin providers) or exchanging Bitcoins/Bitcoin Cash for goods and/or services.
There are certain limitations to available operations with Bitcoin/Bitcoin Cash. Skrill Canada customers can deposit funds only for transfers to merchants or online sites. These funds can't be withdrawn in certain currencies or sent to certain banks. Also, due to the nature of cryptocurrencies, Bitcoin/Bitcoin Cash deposits are non-refundable.
Skrill is also devoted to helping businesses grow to international markets and find new customers.
The payment service established partnerships with major Shopping Carts and eCommerce platforms, such as:
- Woo Commerce
- Presta Shop
- Big Commerce
If a person or a business states that they accept Skrill, it means that anyone can make a payment to them. Payments are instant, which is quite a big improvement to traditional payment methods.
How to Send Money With Skrill?
There is a dedicated page for a Skrill transfer to a bank account, where you need to click Get Started. Alternatively, you can click on the Send to Bank Account button in the Send section. Then, follow these steps:
- Enter the amount, choose the currency from the dropdown menu (below the entered amount), and add a note if needed. Press Continue.
- Confirm your recipient's information - name and bank account, mobile number, or wallet. It can be an individual's, company's, or even your own account. Press Continue once again.
- Check if the submitted information is correct and press Confirm.
- Select your preferred payment method for online transactions and finalize it.
If you don't already have a Skrill account, it will be automatically registered on your email address.
All transaction details will be sent to that email, and they will also be stores on your account history. If you go to the My Transfers section, you can repeat them, thus, skipping several steps.
How to Send Money from One Skrill Account to Another
With the Skrill to Skrill Send Money option, the process is practically the same. But make sure both users (sender and recipient) have verified accounts. So, here are the steps:
- Select the Skrill to Skrill option in the Send section.
- Enter the currency of the transaction and the recipient's information. As with other transfers, click Continue.
- A confirmation window will appear for you with the summary of the transaction. If it's correct, click confirm.
- Get a verification code and sign in with two-factor authentication. That's it!
If the recipient doesn't have a Skrill account, they will be sent an email invitation to join the service. They have 14 days to accept it, and then the transfer will be cancelled. Your funds won't be deducted unless the user creates an account.
How to Withdraw Money from Skrill
If you want to transfer money from your Skrill digital wallet to a personal bank account, here is what you need to do:
- Open the Withdraw section in your personal account.
- Press Withdraw Now and select the bank account where you want to withdraw the funds. If you don't already have the bank details filled in, submit the info here.
- Specify the amount of money and press Next. For some countries, you'll be requested to submit extra info.
- Finally, confirm the transaction and enter your PIN.
How Does the Skrill Affiliate Program Work?
Skrill Global accepts affiliates internationally. If you are a USA resident, there is a separate program called Skrill USA. But for other users, including Canadians, you can enjoy the following benefits:
- 20% revenue share commissions - If you promote the Digital Wallet services by sharing your unique affiliate code, you'll earn a fifth of the revenue share. If your referrals make deposits to any of the Skrill's merchants, you'll get a lifetime commission. The team assures that there are no hidden pitfalls, which seems to be true.
- Double up - If you're already affiliated with Skrill, there is a way to make your profits even higher. In addition to referring operators from the merchant network, you can also refer to Skrill as a payment facilitator.
- Resources - Skrill endorses the affiliate program by offering web banners, links, guides, articles, promotion pages, and other helpful information.
To participate in the program, you'll need to fill in the registration form with your personal details (username, password, security question), contact details (email address, contact phone, Zip, ID account), and payment information. So, you can join the program in a matter of minutes.
The main Skrill office is located in London, the United Kingdom, at 25 Canada Square. On top of that, there are many other offices worldwide since Skrill is one of the Paysafe's numerous brands.
There are Paysafe offices in:
- Europe - Sofia, Bulgaria; Vienna, Austria; Douglas, Isle of Man.
- North America - Montreal and Calgary, Canada; Miami, Dallas, Irvine, and Largo, USA.
- Asia - Hyderabad, India; Tokyo, Japan.
If you have an issue that requires a physical visit to the office, you can visit any brand's office that belongs to the Paysafe group. But you're more likely to receive prompt help by contacting the service online.
How to Contact Skrill
There are several ways in which users can reach out to the support staff. Fortunately, Skrill offers major communication channels that should be convenient for users all over the world. Here they are:
- Support hotline - This is the fastest way to get a response. Just state your ID number at the beginning of the call and describe your issue. Bear in mind that the line can sometimes be overloaded, so you may need to use other ways.
- Email or ticket - If you can wait a little more, contact the team through: firstname.lastname@example.org. For VIP users, there is a separate email - email@example.com. In two or three days, your issue should be addressed.
- Social media - Skrill has a Twitter account and a Facebook page where you can share your issue. Make sure not to share private information publicly as it can lead to your account being stolen or something along these lines.
- Disabled accounts support - This problem is one of the most frustrating ones. Of you can't access your account, then you can't do anything with your funds. Call the hotline to resolve this.
- Lost or Stolen Skrill MasterCard support - Here, you will also need to contact the support team via the hotline immediately. The first thing you need to do is cancel your card, and then the service will have more time to investigate.
How Skrill Compares with Similar Services in Canada
These days, there are many online payment solutions available to you 24/7. But how do they compare against each other? The table below shows Skrill's alternatives so that you can review them next to each other, for example, Skrill to PayPal or Skrill to WebMoney.
Debit and credit card processing, digital wallet, international fund transfers, split payouts
Debit/credit card, mobile phone, online payment gateway, virtual terminal, recurring billing
Payment gateway, digital wallet, prepaid card, PSP
Online payment, international money transfer
Debit/credit card, EBT, QuickBooks integration, Level III processing, POS equipment
Money transfers, digital and mobile wallet, online reporting, contract drafting tool
Types of Businesses Served
Retail, e-commerce, international, marketplace-style, high risk
Retail, mobile, e-commerce, non-profit
E-commerce, insurance, loyalty programs, payments, retail
E-commerce, online advertising, freelancing, vacation rentals
Retail, mobile, e-commerce, enterprise-level, B2B, healthcare
E-commerce, P2P, B2B, international, high risk
Availability and Acceptance
Over 150 countries
Simple to use
Practically no risk of credit fraud
Discounts and rebates
Works in physical stores
Bonuses for loyal users
Physical prepaid Mastercard
Supported by popular companies
Handy perks in Premium subscription
Payments are anonymous
Limited accessibility for Canadians
Frequent target for phishing
Difficult to contact
No guarantees for being accepted
Hefty card renewal fee
No 24/7 customer support
Slow service at times
Low withdrawal limits
No physical branches
Poor customer service
Requires lots of personal information