Does it take to verify a Skrill account in Singapore?

Skrill is a convenient eCommerce and money transfer service. Like PayPal, Skrill’s platform is designed to be easily understood by people new to money transfers and digital wallets.

Send money to domestic users or convert money to over 40 currencies globally from your online account or the Skrill mobile app. If you need help with your transfer, you can contact customer service using their 24/7 helpline or check out the interactive FAQ online. Just be aware of the many fees.

To exchange Bitcoin to Skrill, Click: bitcoin to paypal

Highlights

• Don’t have your friend’s bank account details? Easily send money using just their email address.
• Pay for your goods online without pulling out your wallet with any retailer that offers Skrill at the checkout.

How much will I pay to send money with Skrill?

If the retailer accepts Skrill payments, the transfer will be free. Most other transfers, however, do come with a fee, although there’s no cost to receive money. In summary:

• 1% fee to load funds into your account1.45% transaction fee (minimum MYR 2.26)
• 3.99% currency conversion fee
• up to 7.5% withdrawal fee (varies by payment method, with bank transfers being the least expensive)

For example, if you’re transferring RM1,000 from your Skrill account to a friend in the UK, Skrill will deduct a transaction fee of 1.45% (RM14.50), along with a 3.99% (RM39.90) currency conversion fee. Your friend will receive RM936.60.

While you can use Skrill in Malaysia, all your transfers have to be in USD. This means that you’re going to be copping the 3.99% currency conversion fee before you send your money anywhere.

Exchange rates

Skrill’s exchange rates can be higher than competing services. It adds 3.99% to what it calls “Skrill’s wholesale exchange rate”. For comparison, PayPal typically charges fees of up to 2.5% above the mid-market rate.

What types of transfers does Skrill support?

Skrill offers one-off transfers. You have options for loading funds onto your Skrill wallet and withdrawing money, including:

• Upload methods. Load your Skrill wallet with funds directly from your bank account, a credit or debit card, a SWIFT account or another digital wallet.
• Withdraw methods. Your recipient can withdraw funds from their Skrill wallet to a bank account via money transfer, a credit card balance or SWIFT account, depending on their location.

You’re also able to buy and sell cryptocurrency with your Skrill account. While this isn’t available in all countries just yet, you can use it in Malaysia.

Minimum and maximum transfer amounts

Skrill does not have a minimum transfer amount. Maximum transfer amounts can vary between $135 (approximately RM552) and $25,000 (approximately RM102,275) a month, depending on the verification of your account.