All about bookies and betting

Skrill (previously Moneybookers) - best online wallet.

Skrill is an e-commerce business that allows payments and money transfers to be made through the Internet. It serves as an electronic alternative to traditional paper methods such as cheques and money orders. Skrill performs payment processing for websites, online auction sites, and other corporate users.

Skrill was bought by Investcorp Technology Partners for €105 Million in March 2007 and as of the 9 March 2009 has been put up for sale by its owners Investcorp for an estimated £365m.

Like many competing online fund transfer services (e.g., PayPal), Skrill requires identity verification before using their service to minimize fraud and prevent money laundering. Additional verification steps raise the maximum amount transferable to €50,000 or equivalent within a 90-day period. Skrill does not usually get involved in merchandise disputes and the availability of credit card chargebacks may be limited.

This system is very cheap to use. Depositing and withdrawing money to the bookmaker is free (and if you see that it costs money do not use such web-pages ). Putting money into your bank account costs 1.80 GBP, and money transfer to a friend – only 0.5 GBP. For such little money we gain fast money transfer comparable to credit cards.

The disadvantage of the system is the impossibility to change the currency of the account, so if you want to play sure bets I advise you “euro,” which supports 99% of bookmakers.

Skrill logo 2

SKRILL VS. OTHER WAYS TO TRANSFER MONEY

Bank transfer
Cheque
Skrill
Duration

2-5 days

3-12 days

REAL-TIME

Cost - domestic transfer
up to € 5
up to € 5 + postage
1% but maximum € 0.50
Cost - international transfer
up to € 30
up to € 30 + postage
1% but maximum € 0.50
Required details
Name, account number, bank name, sort code and/or SWIFT/IBAN
Name and postal address
ONLY EMAIL
Instant online shopping
No
No
Yes
Security
Providing bank details may allow unauthorised debits from your account
Risk of cheque fraud
Keeps your financial information safe
Regulated financial institution?
Yes
Yes
Yes
FSA regulated

Skrill and offshore accounts



An additional advantage of Skrill is the ability to register multiple accounts from different countries. This allows fast and cheap foreign transfer funds. It is enough to put money from foreign accounts to online Skrill portfolio and then pay them on your account.

This method is excellent in the case of working abroad. Very often an employer requires us to open an account in a local bank to transfer earned money there. Returning to the country we do not have to carry cash or make expensive international money transfers. It is enough to deposit and withdraw by the help of Skrill in the country and our money is immediately available. It costs only 0,5GBP.



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