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Skrill and PayPal have become very popular e-wallets, that are used by millions all over the world. The popularity of e-wallets is rising, as payments via e-wallets are more secure and faster than typing in your credit card numbers every time you wish to make a purchase online. Some are very hesitant to use e-wallets, even though using Skrill or PayPal is much more secure than typing in your credit card number.
By using Skrill or PayPal, you can pay with e-wallet balance without ever revealing your credit card information, or you can pay using your linked bank account or credit card – again, without inputting your info online. E-wallets also let you pay using different currency. This is extremely useful, when you’re making a payment to someone, whether it be a company or a person, who uses different currency as you. However, there are so many e-wallets online. So how can you choose the one that works bet for you? This article compares Skrill vs PayPal – decide, which one is the best one for you!
What is Skrill?
Skrill is an e-wallet that’s one of the most popular ones out there. Skrill was founded in 2001 and it has earned it merits in the industry, proving to be one of the most secure and reliable ones. Skrill was formerly known as Moneybookers, and it has over 35 million users all over the world. You can use Skrill worldwide online and in physical stores, as well as send and receive money with it.
You can open a free Skrill account by filling out a form on their site. You’ll have to input your name. address, email, DOB, phone number and some other personal information. After this, you’ll receive a confirmation email. Click the link in the email, and your account in confirmed. You’re not done yet, though. Now you have to link your bank account and credit cards. And because Skrill is very safety conscious, they will transfer a couple cents into your account to confirm that the account actually belongs to you. Now your account is ready to be used. You can now transfer funds between your Skrill account and bank account, as well as send and request money.
The next time you wish to log in to your Skrill account, you will do so by using your login email and a password of your choosing.
You can also use Skrill for paying online. If an online store of your choosing partners with Skrill, you can simply select Skrill as a payment method. After this, you will log into your Skrill account (don’t worry, the store won’t get your information), and accept the purchase. You can also make purchases via Skrill if your Skrill account doesn’t have money in it – simply choose one of your linked credit cards as a payment method. (Skrill – About us)
Skrill Casino UK
Skrill is an often used payment method at many online casinos in the UK. Online casinos often accept Skrill along with some other e-wallets. However, an important little fact to know is, that sometimes casinos don’t reward you with a casino bonus, if a deposit is made with Skrill. This you should always check from the casino terms and conditions, if you wish to redeem your first deposit bonus.
Here are some UK online casinos that accept Skrill as a payment method:
What is Paypal?
PayPal is an e-wallet founded already in 1998. PayPal has quickly become one of the most used e-wallets worldwide, and it has already over 200 million users. It’s available in over 200 countries all over the world and its turnover is over 5 billion dollars. So, can we say this company is trustworthy? Yes, we can!
PayPal sign up is easy and free. You’ll hop into their website and fill the form on their website. Fill in your name, address, DOB, email and some other information, just like when signing up for Skrill. After your form is filled, you’ll receive a confirmation email with a link. Click the link, and your account is confirmed! Now, link your bank account and credit cards. PayPal, like Skrill, will deposit a couple cents into your bank account to confirm it’s yours. After this is done, your account is ready to be used.
You can also pay online using PayPal. This works the same way as Skrill. Choose PayPal as your payment method, log into your PayPal account and confirm the amount. (PayPal – About us)
PayPal Casino UK
PayPal used to be the most used payment method at casino sites until the United States came along and spoiled all the fun from all Paypal casino sites. That’s when PayPal withdrew their services from online casinos, and it took a while before PayPal was able to start creeping . their way back into the online casino industry. Now, some casino sites use PayPal, but PayPal is very careful with what casinos they choose to work with. And if a casino has PayPal as a payment method, you can be sure the casino is trustworthy.
Here are some online casinos that accept PayPal in the UK:
Skrill vs PayPal – Comparison
Skrill and PayPal both have their good sides as well as the not-so-good sides. Skrill and PayPal are both easy to use and signing up is straightforward, secure and the processes are similar. Also the account verification process is similar at both e-wallets.
Both Skrill and PayPal are used worldwide, and you can make payments online and send money to family and friends as well as pay for goods and services. In addition, both of these service providers have downloadable apps, that you can use with your mobile phone or tablet.
PayPal is often times accepted as a payment method in more places than Skrill. Although Skrill is very similar to PayPal, PayPal does have over 200 million users, whereas Skrill only has 35 million. This being the case, it isn’t a surprise that many online stores and service providers tend to accept PayPal over Skrill.
Skrill works together with many casino sites, so if you check Skrill’s exclusive offers, you’ll see that they have many fun offers and bonuses for casino sites. PayPal does offer some deals as well, but these are mainly bonus codes for some stores you can get discounts from. Also, Skrill has a VIP-program, which isn’t something that PayPal offers.
Skrill has their own Prepaid MasterCard, which you can use in stores as a regular payment card. This means, that as long as your Skrill account has money in it, you can pay your candy bar or dinner with your Skrill MasterCard. All you need to apply for this card is £10, which is an annual fee for this card. Also, you have to be 18 years old. This isn’t possible with PayPal in the UK, although some other countries are luckier.
PayPal caters more for businesses than Skrill does. PayPal offers many different payment methods, such as phone, chip reader, credit card and invoice, about which you can read more under “Fees” below. Skrill, on the other hand, while still offering a possibility for businesses, isn’t as business-savvy as PayPal.
Also, the fees are very different with both providers. Before deciding which e-wallet to use (if not both), you should take a closer look at their fees.
Skrill vs PayPal – Fees
These e-wallets are businesses, so of course, they need to get their own sliver of the cake.
PayPal does charge some fees:
- Sending and receiving money between family and friends within your country is free, if you use your PayPal balance, debit card or bank account. If you use credit card, they charge 3,40% + 20p.
PayPal can also receive payments online, in person or via PayPal chip reader. You can also accept donations, get paid over the phone and make international sales. All of these have different fees. However, the fees are small percentages between 1,90% and 4%. Also take into account, that currency conversions may cost a couple pennies extra.
Many actions when you use Skrill are free. Some require a small fee (I mean, they’re still a business).
- Pay at stores, physical or online: FREE
- Withdraw funds to your bank: £4.76
- Withdraw funds to Visa: £7,50%
- Withdraw with Swifts: £4.76
- Send money: 1,45%, min. £0,43
- Receive money: FREE
So, as you can see, Skrill offers very straightforward fees and they are clearly posted. PayPal tends to give you percentages, so you have to do some math, if you wish to know exactly how much you have to pay for fees. One big plus in PayPal’s behalf though, is that they don’t charge a fee when withdrawing funds to your bank account. As PayPal caters to business owners as well, you can see they take a small fee or a percentage when you request money, send an invoice, receive a payment in person, over the phone or by using a chip reader.
So if you wish to use an e-wallet for personal use, either method is a great option, although Skrill may be a bit clearer to use. If you have a business, PayPal may be a more suitable option. (PayPal – Fees, Skrill – Fees)