It’s also critical to scrutinize the exchange rate, as this can include a markup on the mid-market rate – this is the rate that banks use, also known as the real exchange rate.
Any markup on this rate can increase the cost of your transfer, much like a hidden or extra fee.
Skrill international transfers have a 4.99% transaction fee5. It may be much cheaper to use services like Wise, which provides the real, mid-market exchange rate. We’ll go over this in more detail later.
Skrill was created with the same security and performance requirements as sites used for banking and stock trading. Secure Socket Layer SSL technology with high-security 128-bit encryption, certified by VeriSign, protects your account login, personal information, and all money transactions.
When you use Skrill to send a payment, the recipient will not receive any sensitive financial information, such as your credit/debit card or bank account number.
How much does Skrill charge to withdraw?
Other account fees include 1% for depositing funds into your Skrill account, regardless of payment method. If you want to withdraw money, you’ll have to pay up to 7.5% depending on the method.
Skrill adds a 3.99% fee to its exchange rates for any currency conversion transactions.