Skrill Review
Digital wallet: zero-fee bank transfers, Knect rewards & crypto
Skrill is a leading global digital wallet (part of Paysafe Group) with 23+ million users across 135 countries. In 2025, Skrill launched zero-fee international bank transfers at the mid-market rate — a significant upgrade from the old 1.9% fee model. Beyond money transfers, Skrill offers a Prepaid Mastercard, crypto trading across 40+ coins, the Knect loyalty rewards programme, and wide acceptance at online gaming, betting, and trading platforms. Fees vary significantly by funding method: sending via bank transfer is now free, while card payments and wallet-to-wallet transfers still carry charges.
Key facts
- Typical fee: 0% via bank transfer
- Exchange margin: 0% (bank transfer) – 4.99% (card)
- Delivery time: Instant – 2 business days
- Best for: Online payments, gaming, zero-fee bank transfers
- Min transfer: €1
- Max transfer: €10,000 per transaction
Pros
- Zero transfer fee on international bank transfers (mid-market rate) — launched 2025
- Widely accepted by online gaming, sports betting, and trading platforms
- Knect loyalty programme: earn points on every transaction, redeem for cash
- Prepaid Mastercard — use wallet funds in-store, online, and at ATMs
- Buy and sell 40+ cryptocurrencies directly from the wallet
- FCA regulated (EMI licence No. 900001); 23M+ active users
- Instant wallet-to-wallet transfers by email or phone number
Cons
- Wallet-to-wallet (Skrill-to-Skrill) fee: 2.99% standard, 1.45% for True Skriller
- Card-funded transfers cost up to 1% (debit) or 2.99% (credit)
- Exchange rate margin up to 4.99% on card-funded transfers — always check your quote
- Inactivity fee if account unused for 12 months
- Physical Prepaid Mastercard only available to SEPA region residents
Fees by payment method
| Method | Typical cost | Speed |
|---|---|---|
| Bank transfer | 0% fee + mid-market rate | 1–2 business days |
| Debit card / Sofort | Up to 1% | Instant–1 day |
| Credit card | Up to 2.99% | Instant–1 day |
| Skrill-to-Skrill (standard) | 2.99% | Instant |
| Skrill-to-Skrill (True Skriller) | 1.45% | Instant |
| Receive money (no FX) | 0% | Instant |
Popular corridors
FAQs
Did Skrill really launch zero-fee international transfers?
Yes. In 2025, Skrill launched a zero-fee international bank transfer service for 40+ countries, sending at the mid-market exchange rate. The catch: you must fund via bank transfer. Using a debit or credit card to fund the transfer still carries percentage fees (1–2.99%) and a potential FX margin.
How does Skrill compare to Wise for remittances?
For bank-funded transfers, Skrill's zero-fee, mid-market-rate model is now directly competitive with Wise. Wise charges a small percentage fee (0.4–2%) but also uses the mid-market rate. For card-funded transfers, Wise is generally cheaper. The best option depends on your funding method — use our comparison tool to check your specific corridor.
What is the Knect loyalty programme?
Knect is Skrill's free rewards programme. You earn points for deposits, withdrawals, Mastercard purchases, and crypto trades — 1 point per €1. Once you accumulate 10,000 points, you can redeem them for €10 cash added to your wallet. It's free to join and has no subscription fee.
Can I get a Skrill debit card?
Yes. Skrill offers a Prepaid Mastercard linked directly to your wallet balance, available to SEPA region residents. There's a €10 application fee (waived for True Skriller and VIP members) and a €10 annual fee. You can also get a virtual Mastercard instantly for online use.
Is Skrill safe?
Yes. Skrill Limited is authorised by the UK's Financial Conduct Authority as an Electronic Money Institution (Register No. 900001) and is registered as a crypto asset firm. It is part of Paysafe Group and has been operating since 2001 with 23M+ active users.
What is Skrill best used for?
Skrill is strongest as a digital wallet for online gaming, sports betting, forex trading, and e-commerce — plus zero-fee international bank transfers since 2025. If you also want crypto trading, loyalty rewards, and a prepaid card all in one account, Skrill covers everything.