Skrill is a well-known e-wallet service that can be used with online sports betting companies across the globe, unfortunately though, this is currently not available to Canadian players. It was established in 2001 as ‘Moneybookers’, but the product was rebranded to Skrill back in 2011. It delivers a fast, simple, and secure method of depositing and withdrawing from betting accounts. Punters can link their debit and credit cards and other forms of funding to their Skrill account in order to use the fast and efficient service. It is a convenient, multi-purpose payment method that we hope to see back available to Canadian betting fans in the future.
Despite not being available to Canadian bettors, Skrill is still popular for other online purchases. Once you have created your Skrill account, you will then need to deposit funds to it before you can make any transfers or payments. There are genuinely hundreds of ways to do this, however, one of the most popular methods is by using your credit card. If you picture Skrill as your wallet, you can obtain cash for your wallet via many different methods. It could be from an ATM, a bank, a spare change jar, and so many others. The wallet is just the place you store your money until you decide to spend it. Skrill is that wallet, and how you put money into that wallet is entirely up to you.
By topping up your Skrill account with your credit card, you will have easy visibility of the transactions while it also allows you to withdraw to either your credit or debit card. You can pair your credit card with your Skrill account so you can make fast and efficient payments online. This saves you the hassle of continually having to ‘top up’ your Skrill account as your payment methods are all stored and accessible in one place.
Similar to PayPal, Skrill is a trusted e-wallet service that boasts in excess of 30 million members across the world. It offers a safe and swift solution to users wanting to transfer money online anytime and anywhere. By choosing to open a Skrill account and depositing money into your account you can buy goods and services from a wide range of online sites.
While Skrill began its life as a platform to store and transfer betting funds online, it has since evolved to be a fully-functioning e-wallet that is used for online transfers, online shopping, and even for such things like cryptocurrency trading.
Due to the fast and efficient nature of Skrill’s transactions, it is a hugely popular banking method for betting fans all the world over. Unfortunately, Skrill no longer allows you to deposit funds into betting sites from Canada. Instead, we would recommend using alternative methods such as iDebit or Interac. When Skrill allowed deposits to Canadian betting sites, many of the top Canadian sites such as those listed below accepted the method. Of course, this decision may be overturned so keep your eyes peeled for all the latest updates.
When choosing a digital wallet, one of the most important factors in your decision will be the providers processing rates. After all, no one wants to be charged money to use their hard-earned cash when placing bets. Skrill charges different percentage rates for use in different countries, ranging from 0% to 7.5%. Canadian bettors once benefitted from charges that fell at the lower end of the spectrum, enjoying fees for local payments or global transfers in Canadian dollars being fixed at 2.5% APR.
In general, when Skrill is used to deposit funds into a betting account there are almost always no fees, however, it is always advisable to check with your specific bookmaker’s terms and conditions to ensure that there are no unexpected fees. This also goes for any payment method and not just Skrill.
One of the huge positives to using Skrill is that it is extremely simple to set up and use. Whether you are well versed in the latest gadgets or a technophobe, you will be able to sign up and get started with ease. Once you have your account set up, you will be ready to go and make your deposits and withdrawals. Another great feature that you get from using Skrill is their ability to instantly process a transaction, even throughout the weekend.
So, just to give you an idea on how to use it, here are the simple steps one would need to follow if Skrill was accessible at an online bookmaker:
Safety and security is at the forefront of every punter's mind, so it is important we cover how safe Skrill is to use in depth. After all, you want to ensure that the company you are trusting to look after your money is doing exactly that. Skrill has to comply with Canadian, US, EU, and UK financial regulations, so in short, it is very safe. The regulators in these countries apply strict standards for identity verification and processing, so you can rest assured that Skrill is a legitimate entity.
As part of the verification process, Skrill users will have to make an initial deposit with a registered bank account, debit card or Bitcoin. On top of this, some users will also be asked for photos of their government ID and proof of residence as further security measures to prevent fraud.
Skrill’s encryption technology is where its security really shines through. In a world where hackers are continually trying to sabotage networks to commit fraud, you want to know that your money is protected by the highest calibre of technology and Skrill certainly delivers, with unrivalled levels of defence. The Skrill encryption system uses 128-bit encryption and requires all users to utilise the two-factor authentication process whenever they sign into their account.
All in all, Skrill have put extensive work into ensuring that they provide a safe and secure environment for your funds, and with its reputation and history of success you can be safe in the knowledge that your cash is well protected. It is reassuring to know that over 30 million people across the globe already use Skrill, so their glowing reputation is well backed by loyal customers. We just hope that they allow the online betting fans access to use it again in the near future.
Skrill not currently being available to Canadian players is obviously an issue, but it is still worth looking at the advantages and disadvantages of using this e-wallet in case it suddenly comes back. Online betting companies often make it extremely easy to deposit funds via most banking methods, but withdrawals can be more complicated. This is one of the huge perks of using Skrill. It is just as easy to withdraw as it is to deposit. Below you can find just some of the other pros and cons to using the Skrill platform below.
Although Skrill is not currently accepted within Canada, there are a wide range of alternatives that Canadian bettors can use such as Interac or iDebit. Both debit and credit cards are almost universally accepted from Canadian bookmakers which isn’t always the case for players elsewhere in the globe, and you can also use bank or wire transfers to deposit your funds. If you like the idea of keeping your online betting funds separate to your everyday banking, then you can also use payment types like Instadebit or EntroPay, both of which we recommend. We all hope to see the Skrill logo back in the ‘accepted list’ for Canadian punters, but until then there are still some useful alternatives out there.
Skrill is extremely safe and secure to use thanks to its military grade encryption technology. Skrill has adopted a wide range of security features including SSL security encryption and two-factor authentication to minimize any potential threats from fraudsters.
Yes. The bank wire withdrawal selection allows you to transfer funds from your Skrill digital wallet to your own personal bank account.
Money sent via Skrill Money Transfer usually arrives in your account on the same business day, but it can take up to 3-5 business days depending on the payment method used. When depositing into an online account the funds will be available in your account instantly.