Skrill is a digital currency transfer service, i.e. an e-wallet, for sending money to merchants that accept it as a form of payment.
Founded in 2001 as Moneybookers with its headquarters in London, Skrill has expanded to operate in more than 120 countries and deals in over 40 currencies to more than 15 million customers worldwide. It is the payment method of choice for many bettors around the globe, especially in India, as it acts as an efficient intermediary between a personal bank and betting-sites.
Using Skrill for Online-Gambling in India
For any person in India who is interested in dabbling into sports-betting and online-gambling websites, Skrill is an indispensable tool in his arsenal.
To use Skrill for betting purposes, you will need to create an account and link your debit/credit card. This will allow you to deposit funds into the Skrill account which can be then used onto a gambling site.
You can also use it to cash out from a betting website by selecting a Skrill withdrawal. You can then choose to transfer all or part of the balance onto your bank account by selecting a Skrill deposit.
Skrill is entirely legal in India. It is quite popular among the bettors in the country for funding their accounts as it allows the option for setting up the account in INR, reducing the hassle of worrying about any currency exchange fee.
Setting Up a Skrill Account
Creating your account on Skrill is a piece of cake:
1. To start the process, log on to the Skrill homepage and select “Open a Free Account”.
2. This will open up a registration form that requires you to accurately fill in your preferred email with its correct password.
3. In the next page, fill in your personal details – your first name, surname and the date of birth.
4. Next select the country of residence and preferred currency. Bettors from India should opt for INR as their choice. This cannot be altered later on.
5. The final page asks for your phone number and contains a bot-filer. Fill them in along with the checkbox agreeing to the terms and conditions.
Key Steps to Activate Account
1. Upon creating a Skrill account, an e-mail will be delivered to the registered address asking for verification. Do this as soon as possible to activate the account for deposits and withdrawals.
2. In addition, a mail containing a 6-digit code will also be sent to verify your physical address. Upon receiving the mail, enter the code on the verification page of the Skrill website to increase your deposit and withdrawal limits.
3. While not being mandatory, linking your credit/debit card is crucial for making online payments. The cardholder name must be the same as the Skrill account holder’s name to be accepted.
4. To withdraw funds from Skrill, you will need to link your bank account. The withdrawal will be made through a wire-transfer therefore it is most helpful to use a bank with a SWIFT code.
Remember that Skrill only permits one account per person as a part of their security protocol. Creating more than one may result in both the accounts being frozen, denying you access to either of them.
Making a Deposit to Skrill
To make a deposit into your Skrill account:
1. Visit the Skrill homepage and select the login option at the top-right corner of the screen.
2. Enter the correct login details and the correct password to access your main page of your account.
3. Click on the “Upload” button on the right-hand side of the screen to select a method for depositing the money.
4. Click on the preferred mode of the deposit, such as “Credit/Debit Card” or “Manual Bank Transfer” and press “Continue” on the bottom-right corner.
5. Select the preferred currency and the preferred bank to make the deposit and confirm the transaction.
Funding Betting Account with Skrill
To deposit funds into your betting account using Skrill:
1. Open the online-gambling website of your choice and log in to your betting account.
2. Click on the option termed “Deposit” or “Banking” which will open up a list of all the payment methods available.
3. Select “Skrill” from the options and type in the amount you need to deposit in the space provided.
4. This will redirect you to a separate page where you will be asked to log in to your Skrill account.
5. Upon doing so, a message asking you to confirm the deposit will be displayed on the screen.
6. Give your approval to the confirmation message and the funds will get transferred to you instantly, free of charge.
Withdrawing Funds from Skrill
You can withdraw the cash from Skrill directly to your bank account, credit/debit card or another e-wallet such as Neteller.
A. From Skrill to Bank Account
1. Withdraw the money from your betting account by selecting Skrill as the preferred option. Fill in the correct details of your Skrill account and the amount desired. The time taken to complete this depends on the website.
2. Once the funds are deposited, log in to your Skrill account and withdraw the sum to your registered bank account using a wire transfer. You will need the bank account number and the SWIFT code of your branch.
B. From Skrill to Neteller
1. First, log in to your Neteller account and select the “Money In” option on the screen.
2. Choose “Skrill” as the preferred option and type in the amount you wish to withdraw.
3. You will be asked to log in to your Skrill account; do this immediately and click on “Pay Now” to complete the transaction.
4. Once the transfer is complete, it will be displayed in the “All Transactions” section of your Skrill account.
Processing Time
A. Deposit
Bank Account to Skrill: 2-5 days
Credit/Debit Card to Skrill: Instant
Neteller to Skrill: Instant
B. Withdraw
Skill to Bank Account: 2-5 days
Skrill to Credit/Debit Card: 2-5 days
Skrill to Neteller: Instant
Processing Fee
A. Deposit
Net Banking & UPI: 2.50%
Credit/Debit Card: 2.50%
B. Withdraw
Wire Transfer: Around INR 475.91
Neteller: 3.49%
BetGold Partners Accepting Skrill
- MELbet
- Neo.bet
- Merkur
- Rivalo
- Las Vegas Casino
- Zodiacbet
- Bet365
- William Hill
- Dafabet
Verdict
Having a very good reputation among its users, Skrill is widely used for sports-betting and online-gambling all over the world. All Skrill transactions are processed through secure encryptions, making your payments safe while preventing your credit/debit card or bank details from being stored on the servers of the betting-sites.
For Indian punters, it acts as an effective intermediary between the banks and the bookmakers to keep the transactions private. Also, the ability to make payments in INR without any fee is a big benefit.
What about Neteller payment method ?
heck BetGold’s article
