Skrill is not among the better-known payment services nowadays – which is not that surprising, considering the name itself is relatively new. The company was originally called Moneybookers, which might ring a few bells to most of you. You can still recognize the original company in the modern Skrill logo though, but the “major” name of the business is now Skrill. Many online casinos still refer to the service as “Skrill/Moneybookers”.
It’s not the oldest company on the market by any means, founded in 2001 and then obtaining its online banking license in 2003, which allowed them to legitimately work with online finances (a mandatory requirement for providing such services nowadays).
If you want to be seen as a payment service provider for the entire Internet nowadays though, you cannot forget your roots. Moneybookers grew around the boom of mobile casinos, and subsequently became the most popular payment service at the time. It was this solid market position exactly, which allowed them to venture further into the payment provider market and reach out to more customers.
How does it work?
Skrill is quite simple, compared to most payment methods. First you have to set up an account, which will provide you with similar functions as most online payment provider accounts. You can deposit money into your account, as well as make withdrawals, and you can also transfer money to other accounts (as long as the recipient also has a Skrill account).
All popular mobile and Internet casinos have their own Skrill accounts, but you don’t need to use the Web interface for all your transactions; you can just as well access your account options and financial instruments through your mobile phone to keep things simple.
Your money is available immediately – this is one of the main benefits of Skrill, that it processes deposits and withdrawals with remarkable speed, allowing you to remain flexible with the control of your finances. You just have to input the sum of money, and it will be deposited to your casino account. Of course, you must also provide Skrill with your bank account details at some point before you can make a withdrawal into it.
Advantages of using Skrill for online- and mobile casinos
A big advantage of Skrill is its security. The company itself has a lot going on in its security department in the background, and there are various processes that you’ll have to go through just to set up an account. You can send your required documents via mail, or you can verify your account with a small transaction, like with various other payment providers. If you want to increase your transfer limits, you’ll need to go through some more rigorous verification steps, but nothing too serious, as long as you’re legitimate in the first place of course. It can be a bit unnerving when you’re presented with these procedures for the first time, but you have to remember that it’s for your own safety in the long run.
You also have various possibilities for adding an extra layer of security to your transactions, such as automatically generated token and corresponding PINs. Then, as long as you’re using proper, secure software, nothing should ever go wrong with your transactions.
Mobile phones remain relatively unsafe when it comes to paying in online casinos, so it’s always a plus to use a payment method that doesn’t require you to type in sensitive information like your credit card details. With Skrill, you only have to give your account information and you’re ready to go, and with additional PINs, you can easily make more transactions after your initial login.