skrillWhile the word "online payments" almost immediately causes consumers to think of PayPal, there are actually a number of great alternative solutions around the world that promote better fees, more innovative services, and a fresh approach to international commerce. Skrill, formerly known as Moneybookers, is just such a service. The website is used for anything from online auctions to online gambling, and is a major player in today's market for online payment processors.

visit skrill

Interface

Skrill employs a rather basic interface, allowing for the administration of accounts by selecting from one of a few tabs along the top of the website. This is where users can manage things like deposits, withdrawals, and profile information, as well as information about their checking account, credit cards, and other financial instruments. The site is very easy to use, and novice users will not find it difficult to setup an account and begin using the service immediately.

Deposit and Withdrawal

Skrill provides four great options for users looking to withdraw funds from their account, including:


Bank transfers
Credit card transfers using the VISA payment service
Printed checks mailed to the user's address
Branded MoneyBookers prepaid MasterCard

To deposit money into an account, which Skrill refers to as "uploading funds," users have the following options:


Bank transfers
Credit or debit card transfers
Bank transfers

Users who deposit funds into their Skrill account are not subject to any fees levied by the company unless they're transferring funds from an international account. If that's the case, a 1.90 percent fee applies to credit card transfers, while SWIFT international bank transfers are fee-free. Those who need to withdraw funds will be subject to the following rates.

In Europe:


1.80 EUR flat rate for bank transfers
3.50 EUR flat rate for a printed check
1.80 EUR for transfers to a VISA debit card

In the United States:


Bank transfers are free
$3.50 flat rate for a printed check

Security and Privacy

Skrill participates in the Norton Secured program by VeriSign, which encrypts financial transactions and sensitive customer information during transmission and delivery. The company maintains a long and strict privacy policy for American and international companies, and does not sell or make public any of its users' information to any other company.

Online Gambling

The primary reason for MoneyBookers splitting its Skrill services into American and international divisions is to comply with online gambling legislation in the United States. While international, gambling related transfers are permitted in many countries around the world, they are specifically prohibited in the United States. For that reason, American customers will not be able to use the service to fund international gambling or casino accounts, while their international counterparts often can engage in this type of transaction.

Regulation

MoneyBookers, the company that operates Skrill, operates two divisions. The first is based in London and serves the countries in Europe and around the world -- except the United States. The international division of MoneyBookers is is regulated by the United Kingdom's Financial Services Authority and was the first company in the country to obtain an electronic money license.

The company is further governed by the Electronic Money Regulations found in the second EU Electronic Money Directive. The company is required by those regulations to maintain minimum levels of capital sufficient enough to pay out all funds deposited with the company at all times.

In the United States, MoneyBookers operates a service that is licensed and accredited on a state-by-state basis. Currently, the company is licensed in 43 of the country's 50 states; four states do not require licenses, allowing Skrill to operate by default. In three other states, licenses for electronic money transfers and check processing are currently pending.

Support

Extensive customer support is offered by MoneyBookers to Skrill customers. American customers are treated to domestic, toll-free contact numbers, while European customers have access to London-based telephone contact options. Fax services are provided separately to U.S. or European customers, as is an email address for contact with the company's professional support staff.

Customer Service

Any customer service inquiries made by Skrill customers are handled in a timely and efficient manner. The website operates a "Contact Us" form on the website to address customer concerns, and operates Twitter and Facebook pages for easier communication and service via the major social networks used by customers.

visit skrill

MoneyBookers International, the company behind the Skrill payment service, bases their headquarters in London at the following address:

Welken House
10-11 Charterhouse Square
London, EC1M 6EH

Its United States operations are based in New York, NY, and can be found at the following address:

61 Broadway
Suite 1603
New York NY, 10006
USA