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Paypal vs Skrill

Skrill vs. Paypal: Fees and Services Compared

We compared Skrill vs Paypal to help you find the best online payment service to play online casino games. Check out THE REAL FEES of Paypal and Skrill and pick only the ewallet that fits your needs!

When it comes to banking at online casinos, it is important for the process to be as quick and convenient as possible.

There are plenty of methods out there that provide great service, but PayPal and Skrill tend to be the most popular options for players.

There is a great Skrill vs PayPal debate over which e-wallet is the better option for online casino players, and we’ll explore both in detail to help you decide which one is right for you.

Signing Up

The registering process for both Skrill and Paypal is relatively easy.

You will have to fill out your personal and banking information to get started, and verify your details.

Skrill’s verification process tends to take up to 24 hours while PayPal requires up to two days to verify your bank account details.
It is free to register for both sites, but each one has difference transaction fees.

Availability

PayPal is the most used e-wallet service in the online retail market, as the preferred method when shopping on sites like eBay or just transferring money between individuals.

While it is widely used generally, PayPal does not have the best availability in the gambling market as you can see fro the 2017 list of PayPal casinos.

You will find that relatively fewer sites offer players the opportunity to deposit and withdraw cash using PayPal.

Skrill, on the other hand, can be found on a huge range of online gaming sites. While it is not widely used among retail sites, it is basically ubiquitous in the casino world. For more informations about the gambling sites that accept this payment method, you can consult this page about the best Skrill casinos on the Internet.

So, if you already have a PayPal account and would rather not sign up to a new e-wallet service, you will have to be more selective about where you choose to register.

Transaction Fees and Withdrawals

Using both PayPal and Skrill, there is no cost to deposit money into your online casino account.

The fees are only applied when you decide to withdraw cash to your bank account.

To withdraw cash using PayPal, you will be charged 3.4% of the total amount plus 20p.

Skrill’s transaction fee is a little bit higher, changing 4.9% for any withdrawals that you make.

If you want to transfer money between accounts, Skrill charges a 5% fee. PayPal allows you to do so for free, so if you have a staking deal, PayPal may be the better option.

In the debate of Skrill vs PayPal, processing times are very important. Once you have decided to withdraw your cash, you want it to be readily available in your bank account fairly quickly. Skrill withdrawals take up to 24 hours to appear in your account, while PayPal has the potential to offer up a quicker turnaround time.

PayPal withdrawals can take less than two hours, depending on a variety of factors. If you have received money from the same source previously, you can expect a quick processing time for your withdrawal.

The broadband network that you connect from can also influence your withdrawal time, if you are accessing PayPal from a network that you have never been connected to before.

VIP Features

Skrill offers players the ability to access VIP features based on the amount of money they send every quarter.

If you’re a high roller, it might be well worth it to sign up to Skrill and take advantage of the VIP features:

Bronze: transact over €6000 in a quarter

  • 24/7 care
  • Bank withdrawal fee of €5.50
  • 3.79% FX fees

Silver: transact over €15000 in a quarter

  • 2 multi-currency account
  • Personal account manager
  • Free bank withdrawals
  • 2.89% FX fees

Gold: transact over €45000 in a quarter

  • 3 multi-currency accounts
  • Personal account manager
  • Free bank withdrawal fees
  • 2.59% FX fees

Diamond: transact over €90000 in a quarter

  • 3 multi-currency accounts
  • Personal account manager
  • Free bank withdrawal fees
  • 1.99% FX fees

PayPal doesn’t offer a loyalty program in and of itself, but you can earn loyalty points with the PayPal Mastercard.
The points that you receive from making purchases can be redeemed for all sorts of great perks like:

  • Gift cards for restaurants, gas and shops
  • Merchandise like housewares and electronics
  • Cash back
  • Travel vouchers for flights, hotels and car rentals

Bonuses

This is where you will have to read the fine print, as bonuses tend to differ from site to site. Some online casinos will only offer bonuses when you deposit using a specific method, so it is important to take a look at the terms and conditions to find out whether they will favour deposits using Skrill or PayPal.

For example, BGO Casino’s welcome promotion (offering an £80 bonus on your first £20 deposit) is not available to players using Skrill, favouring players who do their banking via PayPal.

On the other hand, most other online casinos only offer their welcome bonuses to players depositing with Skrill and Neteller.
All-in-all, it tends to be easier to find online casinos that offer promotions for players using Skrill, but some of the larger, better-known sites will reward you for depositing with PayPal.

Who Wins?

The Skrill vs PayPal debate is a close one, and it depends entirely on your gaming habits and personal preferences.
Each one offers up its own benefits, so you will have to examine them closely to decide which option is best for you.

Whether you’re a high roller or a casual player, or depending on whether or not you tend to gamble on the go, there will be different advantages to using either Skrill or PayPal.

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