Skrill Review

Skrill is formerly known as Moneybookers. They are in the processes of changing the brand name.

www.Skrill.com is our favorite deposit option. It is an online wallet that once set up allows for the fastest and most reliable method of funding betting sites for Indian players. We like their low fees, trusted reputation, and good customer service. Neteller and Entropay are viable alternatives, but we find the fees at Skrill to be more favorable.

The major downside to ewallets is that they take some time to create and fund the account initially. For many Indian players, it may be the only viable option to use betting sites for real money. However, after you create and fund your account, they are worth it. They make banking with banking sites so easy. They can be used for other online purchases as well.

How it Works

As mentioned before, Skrill is an ewallet (online wallet) that allows players to quickly deposit and withdraw funds with online betting sites. It does take a bit of time to set up the account, but once you have transferred funds to the ewallet, transactions to and from betting sites are a snap. It is a great option for Indian players looking to safely and quickly deposit/withdraw from online betting sites.

Fees: Deposit, Transfer, and Withdraw

Like all ewallets, the fees depend on the transaction and method. However, compared to other ewallets, Skrill fees tend to be lower.

Funding Skrill Account: FREE – 1.9%

It is free to fund your Skrill account using a bank transfer. However, there is a fee of 1.9% if you use a credit card.

Transfers to Betting Sites: 1% (max 27.71 INR)

When sending money, Skrill charges a fee of 1% (max 27.71 INR). This includes transfers to other Skrill users. But this fee is more than reasonable. Depending on how you fund/withdraw to/from your Skrill account, it may be the only fee you pay.

Transfers From Betting Sites: Free

Skrill does not charge any fees to receive transfers from betting sites or other Skrill account holders.

Withdrawals from Skrill: Free – 194.25 INR

If you withdraw via SWIFT transfers, you will not be charged, however there are fees for withdrawing by check of 194.25 INR. Note: the check will come in USD, GBP or EUR.

Why Use Skrill/Moneybookers?

Being an ewallet, Skrill provides multiple advantages to other deposit methods. Once the account is set up and funded, depositing is extremely reliable. If you have funds in your Skrill account you will have no problem depositing onto a site that accepts the Skrill deposit option. Compared to other deposit options, it is the most reliable by far for Indian players.

Lowest fees for ewallets: Moneybookers has the lowest fees per transaction. While Moneybookers does charge a small fee for transfers, it offers the lowest withdrawal fees from ewallets to your bank account. This works out for those who are small stakes players/bettors. If you deal in larger amounts, Neteller may be a better choice.

Privacy: Ewallets are preferred for many players for some degree of privacy. If you bank directly with a betting site or other merchant, most transactions will show up on your bank or credit card records listing the name of the site. However, if you fund your ewallet and do all of your banking with betting sites from there, the only transactions to and from your bank account will be with the ewallet.

Record Keeping: If you only use your ewallet for betting sites, it can help you keep track of your bankroll. You have all of your data in one place to see which sites you perform better with versus others.

How to Set Up Skrill Account

First, visit the main site to set up an account. Click on the sign-up button to proceed. You will be given the option of creating either a personal or business account. I recommend choosing a personal account.

From there simply fill out the registration form with all required information notated with an asterisk (*) and click the appropriate button to finish the registration process. Be sure to select INR as your preferred currency. This must be done correctly at registration because it cannot be changed later.

Verify Email (Mandatory)
Shortly after finishing the registration process you will receive an email at the one your provided on the form. This is very easy to do. Skrill will automatically send you an email that will include a verification link. Simply click on the link

Verify Physical Address
To verify your address, Skrill will send you a 6 digit code via post mail. Once you receive this code, log into your Skrill account, click verify address, and enter the code. Verifying your address is not mandatory but it will help to increase your banking limits both for deposit and withdrawal.

Verify Bank Account
You must have a SWIFT code to finish the process online. If your banks does not have a SWIFT code, contact customer support at Skrill. They will send you a form that you can take to the bank you work with for signature. Send this form to Skrill to review and complete the verification process.

Alternatively, you can verify a debit card by sending $20 to Skrill by wire transfer.

Verify Credit Card
If you want to transact instantly, you can verify your credit card with Skrill. Some Indian players may find this to be difficult. We suggest verifying your bank account. Not only for convenience, but also the fees tend to be lower for bank transfers.

To verify your card, select the option and fill out the appropriate details. Skrill will charge you a very small amount which you will then need to enter into the field at Skrill.com. If using a VISA, you may be required to use a ‘verify by VISA’ password. If you do not have this option set up with your VISA card either do an internet search for it or contact VISA for assistance.