Skrill vs Wise: Fees, Rates & Speed Compared
Skrill
3.8Skrill is a digital payments platform owned by Paysafe, offering international money transfers alongside e-wallet services and online payments.
Wise
4.3Wise (formerly TransferWise) offers transparent, low-cost international money transfers using the real mid-market exchange rate with no hidden markups.
Skrill and Wise are both popular choices for international money transfers, but they take different approaches. Skrill, founded in 2001 and headquartered in London, UK, is best known for international money transfers. Wise, operating since 2011 from London, UK, focuses on transparent, low-cost transfers. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs. Our data shows the difference can be significant — on a £500 GBP → PKR transfer, Wise delivers ₨2239.12 more to the recipient.
In this comparison
Live comparison: Skrill vs Wise across popular corridors
The table below shows how much the recipient receives when sending through Skrill vs Wise on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Skrill | Wise | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹96,077.86 | N/A |
| GBP → EUR(£1,000) | €1,131.47 | €1,149.85 | Wise (+€18.38) |
| USD → PHP($500) | — | ₱30,761.99 | N/A |
| USD → MXN($1,000) | — | MX$17,275.70 | N/A |
| GBP → PKR(£500) | ₨183,877.71 | ₨186,116.83 | Wise (+₨2239.12) |
| USD → NGN($200) | — | ₦270,124.04 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Skrill and Wise
Skrill vs Wise: Feature comparison
| Feature | Skrill | Wise |
|---|---|---|
| Overall rating | 3.8/5 (Good) | 4.3/5 (Excellent) |
| Fee structure | From 0.5% to 3.99% | Variable fee from 0.41% |
| Exchange rate markup | 1.5% - 3.5% above mid-market | 0% (mid-market rate) |
| Transfer speed | Instant to 3 business days | Instant to 2 days |
| Supported countries | 200+ | 80+ |
| Supported currencies | 40+ | 50+ |
| Max transfer | $50,000 | $1,000,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card, Skrill Wallet | Bank Transfer, Debit Card, Credit Card, Apple Pay |
| Delivery methods | Bank Deposit, Skrill Wallet | Bank Deposit, Wise Account |
| Regulators | FCA | FCA, FinCEN, ASIC |
| Founded | 2001 | 2011 |
Pros and cons
Skrill
Pros
- Wide country coverage
- Multiple funding options
- E-wallet for repeat transfers
- Fast wallet-to-wallet transfers
Cons
- Exchange rate markup can be high
- Fees vary by payment method
- Customer support can be slow
Wise
Pros
- Uses real mid-market exchange rate
- Transparent fee structure shown upfront
- Multi-currency account available
- Fast transfers to many countries
- Regulated in multiple jurisdictions
Cons
- Credit card payments have higher fees
- No cash pickup option
- Transfer limits may apply for new accounts
When to choose Skrill vs Wise
Choose Skrill if:
- You want the real mid-market exchange rate with no hidden markup
- You need wider country coverage (200+ vs 80+ countries)
- Skrill's strengths (Bank Deposit, Skrill Wallet) match your needs
Choose Wise if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (Wise supports up to $1,000,000)
- You need a multi-currency account to hold and convert balances
Verdict: Skrill or Wise?
Cost winner: Wise
Wise wins on cost in 2 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €18.38 more with Wise. Wise achieves this through transparent pricing with the real mid-market exchange rate.
Speed: Similar delivery times
Both providers offer similar transfer speeds. Skrill typically delivers in Instant to 3 business days, while Wise takes Instant to 2 days. The actual speed depends on the corridor and delivery method.
Wider coverage: Skrill
Skrill has broader coverage with 200+ countries and 40+ currencies. Skrill also offers Bank Deposit, Skrill Wallet.
Bottom line
Overall, Wise edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, Skrill is the better pick if you need international money transfers.
Frequently asked questions
Is Skrill or Wise cheaper for international transfers?
Based on our data, Wise is generally cheaper across most corridors. Wise charges Variable fee from 0.41% with a 0% (mid-market rate) exchange rate markup, while Skrill charges From 0.5% to 3.99% with a 1.5% - 3.5% above mid-market markup. For example, on a £1,000 GBP → EUR transfer, Wise delivers €18.38 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Skrill or Wise?
Skrill typically completes transfers in Instant to 3 business days, while Wise takes Instant to 2 days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are Skrill and Wise safe to use?
Yes, both are regulated money transfer services. Skrill is regulated by FCA and has a 3.8/5 Trustpilot rating. Wise is regulated by FCA, FinCEN, ASIC with a 4.3/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Skrill vs Wise?
Skrill has a maximum transfer of $50,000 (minimum $1), while Wise allows up to $1,000,000 (minimum $1). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Can I get cash pickup with Skrill or Wise?
Skrill offers Bank Deposit, Skrill Wallet. Wise offers Bank Deposit, Wise Account. Neither provider offers cash pickup — both deliver to bank accounts only.
Should I use Skrill or Wise to send money internationally?
For most users, Wise offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, Skrill is the better choice if you need international money transfers. The best provider for you depends on your corridor, transfer size, and whether you need features like Wise Account.