Skrill is an electronic money account that allows users to make payments and money transfers via the Internet. With your Skrill account, you can make international money transfers and receive electronic payments. With Skrill money transfer you can send money to a beneficiary internationally. You can also send money directly to a bank account or mobile wallet.
Digital money transfer and payment platforms have become more popular over the years. Digital payment platforms have made online transactions less difficult in the modern age.
Skrill (which used to be known as Moneybookers) is one of the popular e-commerce businesses that deal with payments and transfers via the internet. Skrill is a European online payment system that is available to residents of Nigeria and about 200 other countries/territories.
Skrill allows you to send money in more than 40 different currencies. If your Skrill Account is denominated in a currency other than Euro, you will have to convert the currency. In this case, you will be charged a foreign exchange fee of 1.5%.
Skrill offers online monetary services and also allows both individuals and organizations to own online wallets. The money held on your Skrill Account does not earn any interest. However, it does not expire either.
Skrill offers two types of accounts which are:
Personal account
Business accounts.
The business account is for commercial use. It allows a merchant to accept payment online by linking their account to their websites. The business account comes with enhanced fraud management.
The Personal account enables users to
- Transfer Money: Money transfers can be made from one’s Skrill wallet to other countries. The funds are delivered to a mobile wallet or to a bank account.
- Shop Online: Skrill allows you to make online purchases from various merchants across the globe offering your favourite products and services.
- Buy Cryptocurrency: With Skrill, users can trade in cryptocurrencies such as Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, Litecoin, XRP, and 0x. Skrill also allows you to make deposit funds in your local currency and exchange it to cryptocurrency.
How to fund Skrill Account in Nigeria
Opening Your Skrill Account
In order to make use of the online services available via Skrill, you must first open a Skrill Account by registering your details on the Skrill website. If you are an individual, you must be 18 years or older before you can make use of Skrill. The company may require that you provide evidence of your age at any time.
In order to make deposits into your Skrill account, the first thing you need to do is open a Skrill Account. Opening a Skrill account is easy. What you will need includes:
- A valid email address – Your email address must be functioning because it is through your mail that your Skrill account will be verified. Skrill also sends information regarding your account frequently to your mail.
- Bank account – You will need a bank account in order to open a Skrill account. This is also needed during verification.
- A credit or debit card
No other information is needed until you receive funds or want to make a deposit to your digital wallet. To begin the Skrill account registration, visit the company website. You will be required to input your first name, last name, country, currency, and password.
You will be asked to select a currency from those made available from time to time. Your Skrill account will then be denominated in this currency which you have chosen of your choice. This will remain the currency of your Skrill account for the duration of your agreement with the company. If you want to change the primary currency of your Skrill account, you will need to close your current Skrill account and open a new one.
When you try to make your first deposit on Skrill, you will be asked to provide additional personal information. This is to help the company set up your digital wallet. The required details include: Country of residence
Preferred currency
Address Postal code
Date of birth
You will only have full access to your Skrill online wallet after you have provided the details mentioned above.
How to upload funds on your Skrill Account
You can upload funds by:
Visiting the company website
Logging into your Skrill account and following the relevant upload instructions.
Once you have successfully completed all the Skrill account opening steps, here are the funding options available to you. These are:
Direct bank deposit: You can fund your account directly from your bank. However, in order to make a direct bank deposit, the transfer must be made from a bank account held in the customer’s name. Bank transfers take two to five days before the funds can reflect on the user’s online account.
Debit and credit card deposits: You can also fund your digital wallet using a debit or credit card.
Skrill offers you various upload methods. This depends on which payment methods you have added to your Skrill account and which ones are available in your country of residence.
Upload methods are payment services provided by third-party financial institutions. For example, the issuer of the card you use in uploading funds or direct bank you use.
Uploaded funds will be credited to your Skrill Account after the funds have been received. Some transactions, such as those directly linked with your bank account or via your credit or debit card will be credited to your Skrill Account immediately.
Skrill does not support the use of prepaid and virtual cards to fund an account. Remember that for a card transfer to work, the cardholder must also be the one who owns the Skrill account.
Skrill users in Nigeria can receive and withdraw funds in their local currency using the digital platform. The digital services offered at Skrill come at a reasonably low fee and funds get processed fast enough. While there are various other online payment options available to users, many prefer skill because of its effectiveness and affordability.