Gambling industry likes fast payment options.Skrill payment method is one of the fastest payment world services.
Online gaming has become quite the rage these days. However, the methods employed by the bookmakers for deposits and withdrawals are often irritating.
Skrill understands the problem and has taken steps to remove it. They offer users a digital wallet free of extra charges. You can use it to transfer money to and from your gaming accounts with ease. The money will show up in the appropriate accounts almost instantaneously.
Skrill, originally known as Moneybookers, is global company that deals in e-commerce. Skrill allows users to make payments to others through the internet. Skrill serves both individuals and organizations. Individuals can take advantage of an online account for deposits provided by Skrill. Instead of using checks and other conventional methods of transferring money, individuals can transfer their money online which is a significantly less expensive process. Businesses or organizations, on the other hand, get the ability to receive money via different payment and credit cards.
Skrill Limited is the owner of this system and they operate it as well. They are based in the UK and as such they are registered with Her Majesty’s Revenue and Customs under the Money Service Business category. The Financial Conduct Authority regulates Skrill. It is permitted to function within the boundaries of the European Union.
Skrill was originally known as Moneybookers which operated under the domain of moneybookers.com. Although the domain was registered on the 17th of June, 2001, the company, Moneybookers Limited appeared as a company on the 27th July 2001 in the UK. The website and the systems were launched on the 1st of April 2002. It took only 1.5 years for Moneybookers to gain nearly 2 million registered users.
Moneybookers declared on the 2nd of September 2008 that it was operating all over the world and in all the countries. It also declared that the number of accounts it handled were more than 5.5 million.
Investcorp Technology Partners bought Moneybookers in the year 2007 for a sum of 105 million euros. On the 9th of March 2009, Moneybookers was offered for purchase at nearly £ 365 million.
In terms of profits, Moneybookers became the fastest growing firm, backed by private equity, in the UK according to the Sunday Times in February 2010. There were approximately 22 million users of Moneybookers in May 2012, out of which 120,000 were merchant accounts. Other online companies like Facebook, eBay and Skype integrated Moneybookers as one of their gateways for payments.
Moneybookers declared in 2011 that they would reintroduce their services under the name of Skrill. It was not until the third quarter of 2013, when the rebranding was finally reported to be complete.
CVC Capital Partners bought Skrill in August 2013 for a sum of € 600 million.
The Services Offered
In 2011, eCommerce Bytes, an online news blog, conducted a survey of payment service providers. Skrill came second in that review. Although customers have given positive reviews about it, Skrill is considered to have an unfavorable reputation when it comes to fraudulent behavior as reported in a review published by the Better Business Bureau. Around 52 complaints were lodged against Skrill by victims. The complaints range from unauthorized charges, unresponsive customer support and even practices of deceptive sales.
Skrill allows its users access to 41 different currencies and the major providers of credit cards and debit cards. The countries which have been placed on the sanctions lists of the US or United Kingdom are not supported by Skrill. The United States is also not supported by Skrill since 2008. Customers based in the US are unable to get money transferred from accounts in other countries. Those not based in the US will not be able to use credit cards or the accounts from the US.
Users can get a Skrill account simply by providing an email address along with other personal data. There is an optional verification process for identity which allows the user to conduct transactions of an increased value. The email is the crucial piece of information as all transactions are conducted through it. An account cannot have more than four email addresses attached to it. The accounts can be operated in any of the supported currencies. However, one account cannot be operated in more than one currency.
A prepaid card from Skrill is available for purchase. This card is connected to the account and it is available in only four currencies. Only the US dollar, British pound sterling, Polish zloty and Euro is supported for these cards. Account holders who have a high turnover can take advantage of Skrill VIP, the premium membership which offers extra features.
Businesses or Companies get a different set of account features with Skrill. They get escrow payment facilities, a payment gateway among others. Skrill does not concern itself with issues regarding merchandise arguments and they limit chargebacks of credit cards.
The Controversy Regarding Wikileaks
WikiLeaks operated an account in Skrill for collecting donations. In August 2010this account was blocked by Skrill. According to them, the block was put in place as WikiLeaks had been included in the blacklists of Australia and America. This angered a lot of activists who supported free-speech due to the fact that WikiLeaks had not committed any crimes directly.
he Benefits That You Get
It is possible for you to withdraw money from one bookmaker and then send it to another without needing to spend any money on charges. The transfers happen instantly. You can now bet with convenience without worrying about safety or the speed of your transfers. You can now simply concentrate on making the best bet rather than the security of it.
Using a bank transfer is much cheaper than credit card transfer. You can easily upload money to your account with Skrill without needing to pay for any charges. The only charge that you might need to pay is during withdrawals.
The small fee that is levied is worth the benefits that the Skrill account provides. It gives to the ability to easily transfer your deposits and your withdrawals. The majority of the online game service providers support Skrill for online payments. Skrill allows you to get some exclusive bonus rewards. It even has a prepaid card which can be used at a variety of places. The customer support of Skrill is available whenever you want it.
Skrill even has a VIP membership scheme. This scheme is available for those who transfer more than 5000 euros in a month. The scheme enables users to transfer money in different currencies and there is no limits regarding the amount transferred. Skrill even sends invites to various events to their VIP account users.
Skrill offers notification services whenever your account receives payment. You get the benefits of direct processing. There are no fees that need to be paid when setting up your account. You do not need to ensure any minimum activity in your account per month as well. Skrill also allows you to pay for your purchases in Skype, eBay and other online websites and shopping portals.
Creating a Verified Skrill Account
Creating an account in Skrill is a very easy task and you can accomplish it within a few minutes. You will need to choose the Personal account option. Once chosen you will be directed to a form. Fill up the form according to the instructions given.
Verifying the account is a necessary task so that you can actually transfer the funds. First, Skrill will attempt to verify that you are going to operate the account by sending an email to the email address that you had provided. The email will contain a verification code which will need to be entered so that the Skrill account gets activated. The email will also contain instructions on the process of activating the account.
After the activation of the Skrill account, you will need to add the details of your credit cards. Debit cards will work just as well. Skrill will attempt to withdraw a small random amount from your card’s account to check the veracity of the ownership of the card. The amount will range from 1.01 to 2.99. You will now have to examine your bank’s statement in order to find out how much money had been taken by Skrill. Once discovered, you will need to input it to complete the verification process.
The amount that you will enter should be calculated with respect to the currency displayed on the site. It is possible that you may not be able to locate transaction through your online bank statement. In that case, you will have to wait for the printed bank statement to arrive to check the transaction.
You may use your bank account instead of your credit card for the process. It will be verified in the same way. However, you will need to type in the transaction code of the transferred amount instead of the value.
After the verification process is over, you can start using the account. There is no charge levied when you are receiving money. However, if you wish to withdraw money, then a simple charge is levied. There are certain limitations imposed on a Skrill account which will be increased when you verify it.
Skrill offered to be the sponsor for the Conference football league in the beginning of the season of 2013/14. Although the deal was supposed to last for 3 years, it was cancelled before the first year had passed.