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Best Online Casinos Accepting Skrill Deposits & Withdrawals
Did you know that digital wallets have been around for over 20 years?. It is only within the last decade that the e-wallet, also known as virtual or digital wallets, has truly entered the mainstream online payment market, a position which is likely to, if not already, revolutionize the way people interact and utilise money as we know it.
It is not hard to see why digital wallets have continued to exponentially rise in popularity over the past few years, particularly within the online casino world. With businesses migrating their products and services online, continued demand and accessibility for more affordable smartphones, and the developments of new technologies like 5G, as well as new innovative payment services like Google Pay and Apple Pay, it was only a matter of time before contactless virtual payments became the new normal for modern-day consumers.
What Is A Digital Wallet?
For most of us, digital wallets are a fairly new thing, particularly in South Africa. So before we can start we first have to understand how they work, and where they may be of benefit to you in your everyday lives.
Think of a digital wallet as a replacement to your physical bank cards, so instead of having your physical wallet jam-packed with tons of debit and credit cards, you now just have an app on your mobile phone which safely and securely stores all these bank cards into one centralised spot for you to easily access whenever and where ever you may need.
What Are the Benefits of A Digital Wallet?
- Accessible at any time – Because digital wallets are housed online, with internet connection they can be accessed where ever and when ever you need.
- Instantaneous payments – Due to its seamless integration with vendors and merchant accounts, making payments is incredibly fast
- Convenient – Virtual wallets remove the need for physical bank credit or debit cards, making it incredibly convenient when making any goods or service transaction.
- Safe & Secure – With personal information never being shared, as well as heavily encrypted transactions, virtual payments remain incredibly safe for users
- Transfer, Pay, and Withdrawal – Not only do virtual wallets allow you to make payments for goods and services, but they also allow you to transfer money globally.
- Buy, Sell, and trade Crypto – Virtual wallets give you key benefits of being able to buy, sell and trade all your favourite cryptocurrencies all from the convenience of your mobile app.
Disadvantages Of Digital Wallets
- May Not be accepted everywhere – of course because digital wallets are still making their way into mainstream online payments there is the chance that the online casino or vendor you may want to transact with does not have this capability enabled
- Uncertainties around security – There is still so much to understand about virtual wallets, and because this is such a new concept to a lot of us, we may still have varying degrees of uncertainty around safety and security of our transactions
- Potential fees – of course fees vary not just by the virtual wallet you may be utilising, but also the type of activity you may be using your virtual wallet for. There are often fees involved in the process
What Is Skrill?
Established in 2001, Skrill, which now forms part of the bigger global Paysafe group, is a virtual payment solution offering its customers a range of online payment and money transfer services. Since its launch, Skrill has now expanded to operate in more than 120 countries with 40 different currencies now being available from which to select.
With Skrill, players can now virtually store sensitive credit and debit card details, load funds, make deposits at various available online casinos, and even purchase, buy, and trade their favourite cryptocurrencies.
Benefits Of Using Skrill
- Safe and Secure – One of the most noticeable benefits of using Skrill is that it has been specifically designed to allow you to safely spend, transfer and buy online. Through its parent company PaySafe, all player related banking and personal information is kept safe and out of reach from potential fraud
- Widely Accepted – As virtual wallets continue to increase, Online casinos are seeing the many benefits that this brings to players. Now you can find Skrill in many of the top online casinos.
- Buy, Trade, Send – The Skrill system doesn’t just allow players safe payments online, it also allows for international money transfer, the purchase of cryptocurrencies, as well as cross currency conversions.
- Instant payments – Through Skrill, making a deposit online is extremely fast. Thanks to the integration of Skrill amongst consumers and merchants, making payments has never been this seamless
Disadvantages To Using Skrill
- Deposit fees – There is a 2,5% fee that Skrill charges each time you deposit using your Debit or Credit card
- Credit and Debit card limitations – Unfortunately when it comes to online casino deposits, only VISA Cards are accepted.
- Pre – bank approval required on Visa Card – If you are looking to deposit into your Skrill account using your Visa card, you will need to get this pre-authorised by your bank. Unfortunately Visa cards will return a failed payment by the bank if not approved beforehand
- Credit card or Debit cards only – Depositing into your Skrill account can only be done so using a Credit or debit card
- Visa Credit Card withdrawals – If you are looking to withdrawal from your Skrill account using credit card, you can only do so with a VISA card, other cards are not available for Skrill withdrawal
Skrill Transaction Fees
Free Transactions:
- Receiving money to your Skrill account
- Sending money to an international bank account with Skrill Money Transfer
Local ZAR Transactions:
- Depositing: 2.5% (Visa cards only for South African deposits)
- Withdrawing funds: 7.5% (Visa cards only for South African withdrawals)
Global Transactions:
- Depositing: 2.5% (American Express (AMEX), Diners Club, JCB, Mastercard and VISA deposits accepted globally)
- Withdrawing funds: R98.39
Account Usage Fee:
Creating a Skrill account is free as long as you ensure you log in or make a transaction at least every 12 months. If you do not log in or transact during a 12 month period you will be charged a monthly fee of 5 EURO (or equivalent in Rands)
Currency Conversion Fee:
Skrill will add a 3.99% when you perform a transaction involving currency conversion.
Other fees worth mentioning:
- Chargeback fee – EUR 25 per chargeback
- Attempted cash upload fee – EUR 10 per upload
- Prohibited Transactions fees – up to EUR 150 per instance
- Reversal of a wrong transaction fee – up to EUR 25 per reversal attempt
