Skrill review

Founded in 2001 and based in London, UK, Skrill is a money transfer provider. Skrill is authorised and regulated by FCA, which means customer money is safeguarded separately from company funds.

On the fee side, expect from 0.5% to 3.99%, but the bigger cost is usually the exchange-rate markup of 1.5% - 3.5% above mid-market, which is built into the rate rather than shown as a line item. Transfers run from a minimum of $1 up to $50,000 per transaction. In our own rate collection, across the 43 corridors we track for Skrill, its exchange rate has averaged 3.57% from the mid-market rate.

Delivery speed is quoted at instant to 3 business days, and the service reaches 200+ countries across 40+ currencies. You can fund a transfer by Bank Transfer, Debit Card, Credit Card and Skrill Wallet, with money delivered via Bank Deposit and Skrill Wallet. The mix of funding and payout options is a good guide to which corridors Skrill handles best.

On the plus side: wide country coverage, multiple funding options and e-wallet for repeat transfers. That makes it a sensible choice for people who send to a wide spread of countries from one account. Worth keeping in mind: exchange rate markup can be high and fees vary by payment method.