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Skrill Review: Fees, Comparisons, Complaints & Lawsuits

  • January 9, 2022
  • By Payments Industry Analyst, Phillip Parker
  • 370 User Reviews
see which processors will offer you the lowest pricing and best service
see who will offer you the lowest pricing and best service

Rating

 2/5
Skrill Logo
Website
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(855) 719-2087

Most Recent Comment

  • Sergey: says:
    January 14, 2022
    "I can not money out my funds at Skrill, despite many docs were sent to get approval. Las do was with phone number adress confiramtion and anyway was rejected.
See All User Comments

See All 5-Star Recommendations

Rating:
 2/5

Agree with our rating?

Tell us why

Skrill Logo
View Pricing
(855) 719-2087

Most Recent Comment

  • Sergey: says:
    January 14, 2022
    "I can not money out my funds at Skrill, despite many docs were sent to get approval. Las do was with phone number adress confiramtion and anyway was rejected.
Leave a Comment

An International Money Transfer Service

Skrill, formerly operating under the name of Moneybookers USA, is an online payment and money transfer service headquartered in New York City and London. Launched in 2008 but originally incorporated in England in 2001, the company functions as an international PayPal-style service for U.S. and European users. This makes it popular among merchants who require multi-currency payment processing. Additionally, Skrill also allows auction payments via eBay and appears to provide merchant accounts.

Skrill Payment Processing

Like other online person-to-person payment companies, Skrill offers payment processing for all major credit and debit cards. Skrill payments can be sent through their app or their website. You can also hold funds in a Skrill digital wallet, and they even offer a physical Skrill card to use the money stored in your Skrill wallet.

Is Skrill Holding Your Funds Right Now?

Hundreds of merchants have had their payments frozen by Skrill. If you’re one of them, then you might find these resources helpful:

  • How To Make Your Payment Processor Release Your Money
  • How to Fight Chargebacks
  • Best Merchant Accounts for Hard-To-Place Business Types

Skrill Location & Ownership

Skrill/Moneybookers USA is owned by Paysafe Group and operates a London headquarters at Floor 27, 25 Canada Square, London E14 5LQ, United Kingdom, and a New York headquarters at 61 Broadway, Suite 1603, New York, New York 10006. Joel Leonoff is the president and CEO of Skrill.

Video Summary

https://www.cardpaymentoptions.com/wp-content/uploads/2021/10/Skrill_Review.mp4

Skrill Review Table of Contents

  • Costs & Contract: Offers pay-as-you-go pricing with no early termination fees and…
  • Complaints & Service: Has received more than 450 public complaints regarding…
  • BBB Rating: Has a “B+” rating with the Better Business Bureau and has received 88 complaints and 10 reviews in regards to…
  • Sales & Marketing: Does not hire independent sales agents but has received some complaints about its…
Skrill payment processing
Skrill offers online payment processing similarly to Square or Venmo

Should You Trust Skrill?

Lawsuits, Reviews & Complaints

See Who Makes The Cut >>>

Complaint Summary

Total Online Complaints 450+
Live Customer Support No
Most Common Complaint Fund Holds

Frozen Funds and Slow Service

We are currently able to locate over 450 public Skrill complaints on this and other websites, many of which accuse the company of being a scam or a ripoff. Most of the complaints cite frozen accounts, withheld funds, unauthorized and fraudulent charges, poor or unreachable customer service, and deceptive selling practices by Skrill users. Some of these complaints have been posted by personal users who use Skrill as a mobile app for sending money to people, but most of them were written by merchants. In general, merchants are suspicious of lengthy and excessive fund withholding by Skrill, particularly in conjunction with the excessive identity verification process required by the company.

Skrill Lawsuits and Fines

We have not found any outstanding class-action lawsuits or FTC complaints filed against Skrill. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Skrill Customer Service Options

Skrill merchants have access to phone and email support but many complaints have arisen regarding the company’s customer service quality. In addition, many merchants have reported that they were unable to reach anyone at Skrill for days on end. In many cases, merchant complaints received rebuttals from Skrill that confirmed that the merchants were in violation of Skrill’s terms of use, but the manner in which Skrill communicated with these merchants appears to be a major source of frustration at this time. We cannot assign Skrill a favorable rating in this category given the large number of complaints that mention long-term fund-holds and zero communication from the company.

Is the BBB Rating for Skrill Accurate?

Better Business Bureau Profile

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see who will offer you the lowest pricing and best service

BBB Summary

Product & Service Complaints 16
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 1

A Large Drop in Complaints

Skrill is not an accredited business with the Better Business Bureau. As of the review, the company holds a “B+” rating with the BBB. The company’s profile is currently showing 88 complaints in the last 36 months. 87 of the complaints were due to a problem with a product or service and 1 was an issue with delivery. 35 of these 88 complaints were resolved by the company to the satisfaction of the merchant. The remaining 53 were resolved to the dissatisfaction of the merchant or received no final response.

What Users Say

Skrill has also received 10 informal reviews, all negative in tone. The most recent review complains about held funds and poor customer service:

HORRIBLe! I am fully verified and they will take my money now they won’t approve my id to get my money do not use they have a 855 number to tell they don’t take calls marketing deceptive

Merchants who experience an issue with withheld funds may be able to make their payment processor release their funds.

A “D” Performance Overall

Skrill’s delay in responding to its complaints is the main factor lowering the BBB’s score for Skrill, and considering the overall numbers for its profile, we are inclined to agree with  the BBB’s former rating of “D.”

How Expensive is Skrill?

Rates, Fees, and Contract Terms

This processor offers the lowest rates and best service we've seen

Cost Summary

Swiped Rate 2.90% + $0.29
Keyed-in Rate 2.90% + $0.29
Chargeback Fee $20
Early Termination Fee Undisclosed
PCI Compliance Fee Undisclosed
Equipment Lease Terms Not Applicable

Different Rates for Different Countries

Skrill offers a wide variety of payment options in various currencies, including digital wallets and online payment gateways for European merchants, which makes it difficult to compare the company’s contract terms to industry averages. Rates vary between businesses based on their monthly sales volume. Businesses making up to $3,000 in sales are charged a rate of 2.90% plus $0.29. Businesses with sales between $3,000 and $10,000 are charged a rate of 2.80% plus $0.29. The next tier of sales over $10,000 but under $100,000 are charged a rate of 2.70% plus $0.29. Lastly, sales exceeding $100,000 a month are given a rate of 2.60% plus $0.29. Merchant accounts are also charged a fee of $0.49 for each refund and $20 for chargebacks.

Most Skrill complaints do not disclose any other rates and fees (such as an ETF or PCI Compliance Fee) within the company’s contract, focusing instead on problems with fund withholding and sudden cancellation.

Higher U.S. Fees Than Average

For U.S. users, Skrill charges a fee of 2.9% to load an account using a Visa or MasterCard card and a fee of 7.50% to load an account using a Paysafecard prepaid card. Users can load a Skrill account via ACH transfer for free. Withdrawing funds from a Skrill account costs $5.50, and sending money to another Skrill user costs 1.9% of the transaction (maximum charge of $20). There is also a monthly inactivity fee of $3.00 starting in the 13th month of inactivity. These costs are subject to change, so U.S. merchants are advised to check the company’s currently displayed pricing.

Troublesome Fraud Policies

Most complaints about Skrill generally express confusion about Skrill’s fraud prevention policies, trouble resolving fund-holds in a timely fashion, “hacked” accounts, and excessive identity verification procedures enforced by Skrill. We have seen complaints about this last point posted by both merchants and individual customers of Skrill, who all complain of having to provide photo verification, proof of address, and other sensitive personal information to Skrill in order to verify their identities. This verification process appears to go on for an excessive amount of time in some cases, leaving merchants twisting in the wind without their withheld funds. This procedure, like the establishment of a cash reserve, is a reasonable policy for Skrill to have in place, but it appears that Skrill’s enforcement of it is poorly executed.

Not Recommended for High Risk

Skrill’s mishandling of suspected fraud is an especially egregious issue for a company that openly markets its services to high-risk merchant types such as online gaming, Forex, and digital content. These merchants may be better off working with high-risk specialists. We also encourage merchants to check out our list of the providers of the best merchant accounts.

Skrill payment conversion rates
Skrill offers a useful rates tool to help customers know exactly how much money will be sent

Does Skrill Use Deceptive Marketing?

Advertising & Sales Strategy

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you can trust these processor

Key Points

Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms No

No Independent Sales Agents

Skrill appears to primarily market itself through its website and through traditional advertising. There is currently no evidence that the company partners with independent sales agents to market its services, and we are unable to locate any negative Skrill reviews that accuse the company’s sales team of deceptive advertising tactics. This compares favorably to our list of best credit card processors.

Major Risk of Fund-Holds

One major complaint among merchants has to do with nondisclosure or inadequate explanation of the company’s fraud prevention and fund withholding policies. While this issue is more directly related to Skrill’s contract terms and customer service, it does seem as if Skrill could limit the number of merchant complaints it receives by clearly describing its policies regarding high-risk business types. As it stands, Skrill’s official advertising materials do not appear to deter unqualified merchants from signing up for the service, which may be the cause of many complaints about sudden cancellation of service and withholding of funds.

Does Skrill Deserve Your Business?

Review Summary & Our Thoughts

Not Recommended at This Time

Skrill rates as a substandard merchant services provider according to our criteria—in fact, it’s considered one of the worst processors on CPO. The company’s overall rating suffers from a high complaint volume that appears to be almost exclusively related to its fraud prevention policies. Customers report sudden freezes on accounts and withheld funds, but more importantly, they also claim to have great difficulty resolving these issues in a timely fashion through Skrill’s customer service department. These claims are supported by Skrill’s track record of inadequate responses through the BBB.

5-Star Rated Skrill Competitors

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About The Author

Phillip Parker is a Payments Industry Analyst and creator of this blog, CardPaymentOptions.com. Phillip is passionate about researching merchant service providers and payment industry trends. He is often quoted as an expert source in national publications such as INC Magazine, The Los Angeles Times, Entrepreneur, and many others.

“I started this blog because I was disgusted by the business practices of the merchant services industry. I wanted to empower business owners by providing insight on how to avoid shady merchant account providers and costly credit card processing mistakes.” 

Phillip’s Processor Comparisons

Picking a credit card processor can be a headache, but we’ve made it easy. Phillip recommends comparing the best merchant services providers we’ve researched.

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