The advent of the internet has managed to revolutionize our lives. Most of the changes are for the better. One of the leading inventions when it comes to the internet is that we can make payments online. That being said, we can’t really use cash online. We have to have some other payment method that we can use.
And there are many different payment methods that you can use for this purpose. You can use various credit and debit cards, for one. But you can also use various payment platforms that are becoming available for use in increasing numbers. That being said, one of the most popular payment platforms of today is Skrill. If you wish to learn more information about Skrill, then you have come to the right place.
One of the best things about it is that it’s very easy to use it
Origins of Skrill
Skrill started off as a company back in 2001. It was originally incorporated in the United Kingdom. The official name of this company back them was Moneybookers Limited. Investcorp invested 105 million pounds for the purchase of Moneybookers in 2007. And later, in 2009, Investcorp sold Moneybookers for 365 million pounds.
The company had achieved steady growth during the initial phase of its existence. It managed to climb all the way to 25 million customers. Around 120,000 of these customers were merchant accounts. As such, Skrills payment service is one of the most popular payment methods that’s used today. It was deemed the fastest growing equity in 2011 by Sunday Times, based on the profits made.
The owners of Moneybookers decided to change the name to Skrill in 2011. The rebranding was complete in 2013.
In history, the owners of Skrill managed to acquire Paysafecard, a company based in Austria.
The service of Skrills payment service
You should now know that Skrill is a payment method that people and companies use to make online transactions. That being said, there are several services that distinguish this payment platform from what the competition offers.
First of all, you can apply and get a prepaid Skrill card. This prepaid card will be linked to your account. It can be in four different currencies: GBP, Euro, PLN, and USD.
Your main account can be held in various different currencies. However, once you make the initial choice, you won’t be able to change the currency. Also, if you’re a customer with high turnover rates, then you will be given access to special features. One of the best things about this is that you can get loyalty points, security tokens, and a multiple currency account. This is the so-called Skrill VIP – the premium membership at the platform.
Criticism of Skrill
It’s a fact that there are millions of people that use this payment platform without any issues whatsoever. They would say that they have never had any problems whatsoever. However, it’s also true that there are many people that would have to state otherwise.
The non-profit organization called Better Business Bureau has a rating of “D-“ for Skrills service. They have based this rating on 66 different complaints. Also, CardPaymentOptions has an average rating of 1.8 out of 5 for Skrill. This is due to the fact that there are many complaints by people that couldn’t withdraw their money.
If you do a quick scan of the internet, you may be mortified by the horror stories of random people about Skrill. There are instances where people swear that this company withheld thousands of dollars that they have deposited on the platform. There are cases when people couldn’t withdraw their money from Skrill.
So, the smartest thing to do is to take things with a grain of salt. Sure, millions of people use Skrill with no issues, but you also need to be careful about the complaints. Try using Skrill with small sums. Only use it for larger sums if you feel certain that you won’t be scammed out of your money.
Even though Skrill can be a very convenient way to transfer money online, you’ll need to know the fees. And the fact of the matter is that it can be relatively expensive to use the this service. What Skrill charges for money transfers is a 1.9% transfer fee. This fee is capped at 20 euros or equivalent. But Skrill also takes a 3.99% margin on exchange rates. So, in the end, you could end up paying more than 6% of the entire value of the transaction to Skrill. And this fee can even go higher if you consider the withdrawal and upload fees.
The fact of the matter is that there are other, cheaper methods that you can use for online payments. If you’re not really fond of Skrills payment options, then you will be able to find another method easily. But if you’re prepared to pay the fees, then Skrill can be a great tool for online transactions.
It’s very easy to use Skrill once you get the hang of it. All you need to do is transfer money to someone’s account. You can do this with a credit card or by funding your account in another way. Or you can receive money if you only have an account and you can then withdraw the money.
If you the person you’re paying through Skrill doesn’t have an account, then they will be invited to create one. All you need to do is enter the recipient’s e-mail account and you’re all set. One of the best things about it is that it’s very easy to use it.
The fact of the matter is that this isn’t a perfect payment platform. It has its fair share of faults. For one, there are high fees. There are also many reports of the company freezing the funds of the owners. But for small transfers when you need efficiency, you can fall back on Skrill. Calculate whether the fees are something that you’d be willing to pay. In the end, you can find Skrill a useful tool for making periodical online monetary transactions with people from all over the world.