Skrill started out in 2001 and back then it was known as Moneybookers, one of the first and the most respected e-wallet. Online casinos jumped on the bandwagon right away and virtually all of them have added Moneybookers on the list of accepted payment methods.
There are a total of 40 different currencies allowed and the service is available in more than 200 countries, with the company bragging about 36 million customers.
What is Skrill? The electronic wallet has a virtual account associated to it, making it possible for users to deposit and withdraw funds from different sources. It is completely free to open an account and all that one needs is a valid email address, although proof of address and identity can be required at some point.
Once the prerequisites are met, players will be able to fund their Skrill account from various credit and debit cards as well as straight from the bank account. The money can be used to purchase goods or services online and also deposit funds to online casinos, but members can also send it to other Skrill users.
The commissions charged by e-wallets for this type of process are insignificant, making it a far more effective solution than Western Union. Transfers from an account to the other or to online casinos are instant, but cashing out the funds to a bank account or associated card could take a couple of days.
Paying with Skrill in an online casino When players open a Skrill account, they will need to make sure that they specify the fact that they plan on using it for gambling purposes. This is essential to be allowed to deposit and withdraw funds to and from online casinos and this decision is irreversible. Once this step is complete, players will have plenty of online gambling operators accepting Skrill as a payment method and they will only need to enter their email address before funding their online accounts. If the user has a different account currency on Skrill and another one at the online casino, he will be asked to provide them both.
Each time the deposit is made, players will be instructed to log in to their accounts using the password, to mitigate the risks of fraud. There is no commission charged for deposits and the money is transferred in a matter of seconds, being available for use right away.
Withdrawing with Skrill in an online casino It is just as easy to withdraw funds from an online casino has it is to deposit, with the transaction being processed instantly. Most online gambling operators require players to have made an eligible deposit using the Skrill account, before cashing out. Users can request a plastic debit card which is associated to the online account, which they can use to cash out funds from the ATM.
There is a commission charged for this operation, but the upside is that the funds are made available right away.