Our Skrill fee calculator is here to help you calculate how much you can expect to pay when handling transactions with Skrill. As an online retailer, the transaction fees and other expenses you pay when a customer buys your product or requests a service can eat away at your profit margin.
Skrill stands out as a popular tool for accepting payments quickly and easily online and to your bank account. However, like most payment processors, it also has a variety of costs to think about. Knowing exactly what you can expect to pay in transaction fees whenever you earn a payment will help you to plan your cash flow.
Keep in mind that Skrill also has specific rules to be wary of when you’re selling online. For instance, Skrill accounts are only free for personal use only if you’re making a transaction once per year. You’ll have to pay a service fee of 5 EUR per month for account maintenance if you become inactive.
Skrill Fees Calculator
Skrill is approved by the financial conduct authority (FCA), so you can expect a high-quality online payment solution and mobile wallet when you use this service.
Skrill Transaction Fees
Any money transfer service, from Paysafe to Paypal or Neteller , comes with fees to consider. Aside from the transfer fee, you’ll also need to think about digital wallet transactions, international money transfer fee, and the cost of converting cash from GBP, EUR, or another currency to USD.
Like most bank transfer and payment processing solutions, Skrill has a variety of costs associated with it. There’s also a spending limit on every Skrill account, which varies between $135 and $25,000 per month depending on the level of account verification you’re using.
To deposit funds to either global or local payment solutions, you’ll pay a fee of 1% every time you make a deposit. We’d definitely recommend waiting to deposit in bulk if you can or examining how much you’re likely to pay with each deposit. Skill also has some unique withdrawal fees to consider. For instance:
- 2% to withdraw to a cryptocurrency wallet
- 7.50% for withdrawing to a Visa debit card
- £4.70 for a bank withdrawal
- £4.70 for a Swift withdrawal
Since you pay a specific rate for withdrawing to a bank or Swift account, it’s best to only withdraw once a month – or even less if you can. You will get your money within a few business days in most cases, which is common among most e-wallets and payment options.
Account level can affect the fees you pay significantly. For instance, if you’re a “true skriller”, your skrill to skrill money transfers, and prepaid MasterCard application will be free.You can also access skrill customer support for free if you have any questions about markup costs, the skrill mobile app for android or Apple, or anything else.
What Fees Will You Pay with Skrill?
We won’t go too far into all the fees associated with Skrill limited here – for that you’ll need to check out our Skrill review. Skrill can give you an alternative to ACH transfers if you want to send money to an international bank account, or receive cash from a customer.
Skrill’s transaction fees can be quite expensive if you’re not careful. It’s important to understand exactly how much you’re going to pay on each transaction before you jump in. For instance, international transfers are entirely free on Skrill, which makes this solution excellent for global payments. However, international transfers by credit card will cost up to 2.99%.
Other fees you may need to be aware of with Skrill include:
- International transfer in the same currency: Up to 4.99%
- Domestic transfer (in the same country): Up to 2%
- Receive money: free
- Skrill-to-skrill sending: 2.99% or free for true Skriller accounts
- Currency conversion: 3.99% on top of wholesale exchange rates
- Foreign exchange fee: 1.5% (anything other than Euro)
Skrill also has the option to get your own prepaid Mastercard which you can top up and use however you choose. To access this card, you’ll pay a 10 EUR annual fee, and a 10 EUR card application fee.
There’s also a 3.99% foreign exchange rate to be aware of on top of any conversion fees, and a 1.75% ATM fee if you decide to withdraw any money. POS transactions are free, and Skrill virtual card applications are free for the first application, and 2.50 EUR for every card after.
The Skrill prepaid mastercard has additional fees to consider.If you choose to get a prepaid card from Skrill, you’ll have spending limits placed on it based on your account verification. You could be able to spend $25,000 per month, or you might be limited to just $135, depending on your situation. You can’t pay more than $7000 into the card in any single day.
A skrill wallet isn’t the most expensive payment method on the market, but if you don’t want to use skrill, there are plenty of other e-commerce payment options available. Adding up all the skrill charges carefully will ensure you can make the right decision about the service skrill offers.