Skrill

skrillSkrill is widely considered the number two electronic wallet used in the online gambling industry. It’s owned by the same company that owns the number one e-wallet (Neteller), and together, they control a majority of online gambling transactions as a whole. Skrill has a number of advantages in how it structures its fees over other e-wallets, and it’s accepted at more online casinos that virtually any other method than Neteller. If you were to use a single payment solution, then Skrill would be an excellent choice because of its wide availability and the fact that there really aren’t any downsides other than the fact that it can’t be used by US players for gambling transactions.

Deposit Fee Schedule

The fees are handled in a little bit of a different way than other e-wallets. There is a percentage-based fee for depositing to your account with credit cards like Visa and MasterCard. This fee is 2.9 percent, which is more or less the industry standard. However, you can avoid this fee if you use an electronic transfer from your bank account, and there is no fee for funding your account in this way.

It’s important to note that some credit cards will issue a cash advance fee when depositing to your Skrill account. This is outside of their control, and it’s something that adds on even more cost that could be avoided by using an electronic funds transfer like we described above.

Players can also use the Paysafecard method to deposit to their Skrill account with a 4.95 percent fee.

Withdrawal Fees

The only method they offer for withdrawals of funds out of your Skrill account is an electronic transfer directly to your bank account. This works by putting a flat $4.99 fee no matter how much you’re cashing out, so it benefits you to plan your cash outs in a way that they’re minimized in terms of number to minimize the total amount in fees that you pay over time.

Other Fees

You can also send money from your Skrill account to another, but it costs the sender 1 percent of the gross amount up to a maximum of $10.

It’s also important to note that all transactions that require an exchange of currency will be hit with a fee ranging from 2.99 percent to 4.99 percent as well. You can largely avoid this by depositing and playing in a single currency.

Finally, accounts that have a balance but that haven’t been logged in or had a transaction processed in a period of 12 months will be hit with a $1.00 per month service charge each month from the funds remaining in the account.

Overview

Skrill is a pretty normal electronic wallet that makes deposits and withdrawals from online casinos pretty easy. The fees are low and reasonable, and online casinos don’t charge extra fees on top of these for processing transactions, and that helps your bottom line quite a bit. Overall, you could do a lot worse, especially considering that this method is available at a particularly wide range of online casinos. At this point, having either a Skrill or a Neteller account is probably sufficient for any player, but having one of both gives you a backup in case something goes wrong with the other, a strategy that a lot of players have used.