In an age when a huge number of transactions are now carried out on the internet, having an online e-wallet through which you can control all your online payments is becoming a more common and convenient way of managing your money. With just an email account and a password, it’s so much easier to access your money when you need it, especially if you’re on the go. Whether you’re an individual paying for goods and services through online shops and vendors or a merchant receiving payments for the services provided, using a single online account through which credit and debit card details are already registered makes the whole payment process a much smoother experience.
When people think of e-wallets and online payments, PayPal is the brand name that most frequently comes to mind. The PayPal button is visible on the web pages of the vast majority of online vendors and services these days, providing their customers with an alternative to using credit or debit cards directly online. However, when it comes to online gambling service providers, it’s a different story. PayPal is accepted by relatively few online casinos, although that is beginning to change.
For those who are not that comfortable providing their financial details directly to online gambling providers when they play, there are a number of alternative e-wallet solutions available which are much more widely accepted by online casinos and the like. They offer services similar to those offered by PayPal, and sometimes with much more competitive fees. One of these e-wallet alternatives is Skrill.
Skrill, formerly known as Moneybookers, is accepted by leading brands such as William Hill, Bet365 and Ladbrokes, as well as a long list of online casinos and other online gambling service providers. Specifically catering to those customers who have an interest in online gambling and want to use an e-wallet for that purpose, Skrill also runs an extensive range of promotions and offers related to sports, bingo, casino and poker rooms on its website in conjunction with its partners. Beyond these specialised offers that have been tailored for this particular part of their market, Skrill still works in the same way that PayPal or any other e-wallet system does, allowing its customers to load and withdraw money from their account, receive money as well as make payments and transfers online in real time just by using an email address.
Founded in 2001, with its headquarters in London and offices throughout Europe and the US, Skrill has developed into a well-established service, and according to its website has 156,000 business accounts and 36 million individual account holders. It allows their customers to receive, send and hold funds in 41 currencies and supports local payment methods in over 30 countries. Individuals and businesses can register their bank details and credit cards with Skrill and then send money without having to provide their details each time. With the addition of Pay by Invoice and Pay by Instalments packages, its one-tap single-click payment platform designed for mobiles, and services in 12 different languages, Skrill has become a sophisticated fully fledged global e-wallet system.
With Skrill, customers can pay for services and goods at over 80,000 online shops and businesses, including well-known global partners such as Skype, eBay and Thomas Cook. In fact, Skrill customers can send money around the world to anyone who has an email address, even if the recipient doesn’t have a Skrill account of their own. Customers can make transfers by loading their e-wallet from their bank or credit card balance or by making a direct wire transfer.
As with most other e-wallet systems, setting up an account with Skrill is simple. It’s just a matter of filling out the registration form on their website and the account is set up within minutes. Of course, eligibility to use Skrill is subject to local and global terms and conditions. For example, the UIGEA in the United States restricts people resident in the US from using Skrill to transact with most online gambling merchants.
Skrill has other features which account holders can apply for. For example, depending on which country you’re resident in, you may be eligible for a Skrill Prepaid MasterCard, which allows you to spend at any shop worldwide that accepts MasterCard and to withdraw from ATMs. Prepaid cards are known for helping people keep to their budget and are great for added protection when travelling abroad. Check the terms and conditions for more details on fees and whether or not you would qualify. If a customer meets certain criteria, they can apply for VIP membership, through which they enjoy added security, a 24/7 support service, lower fees and extra promotions.
With the swift sign-up process and the ability to move funds from a credit card or bank account into the wallet almost immediately, customers can make the most of their online gaming and move any winnings they have back again or withdraw them directly from an ATM using their Prepaid MasterCard. Skrill has integrated the needs of those who want to gamble online with a secure and comprehensive e-wallet service which might not be as big as PayPal but has competitive fees.
As with all monetary accounts, whether it is a bank account or an e-wallet, it’s important to read the terms and conditions before signing up for an account, not only to ensure eligibility and to understand how the fee system works, but also to make sure that the service is right for you.
Skrill is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money and payment instruments.