You might be more familiar with the name, Moneybookers, which is the name Skrill was formerly known as. Moneybookers was formed in 2001, and by mid-2002 a website with an online payment system was up and running. The first few years were very successful for the company, and they gained almost 2 million new customers within the first 1.5 years of operation. By 2008, the company claimed to be operational in 200 countries, with over 6 million accounts.
Growth and Rebranding
The Sunday Times ranked Moneybookers the fastest growing UK based private equity backed firm in 2010, and by 2011 the company had an impressive customer base of 25 million, 120,000 merchant accounts, and a number of large online companies integrating the Moneybookers payment gateway on their websites. Moneybookers became Skrill after an announcement that came in 2011. The rebranding of the company was complete in 2013.
Today, Skrill works with a total of 41 different currencies, and supports all the major credit and debit cards. There are some restrictions in place; this is especially true for US and EU accounts. A major restriction involves the sending of funds between US and non-US accounts.
Getting a Skrill Account
When you start up a Skrill account you have several different major currencies to choose from, but after your first transaction, your account will be locked to your chosen currency. Opening an account is quite easy, and for a private customer it involves registering an email address and some personal data. An identity verification process will give you the option of sending and receiving higher value payments, but this process is optional. As with many of the other online wallets, Skrill identifies accounts through email addresses and stays connected to them. Payments made to and from a Skrill account basically involve sending money to and from email addresses. There is also the option of transferring/withdrawing money to the account owner’s personal bank account or payment card. Skrill also offers an exclusive VIP account for big customers.
Safety in the Front Seat
Because Skrill has been a major player for such a long time, it has most definitely earned its reputation as a trusted and serious payment option. As far as a payment option for casinos goes, it’s well-known and well-used. It is not available for US players, but for European based gamblers it’s one of the favored payment options. Skrill is an option with most of the large online casinos, and one of the pros with this option is that Skrill handles the entire transaction, so no personal information is shared with the casino. Another big trust earner is the fact that Skrill is not only under regulation by the Financial Services Authority of the United Kingdom, but also approved by VeriSign, a large online security company.
Peace of mind is one of the most important factors when choosing a payment option for betting and playing online, and Skrill delivers that, both through its longstanding reputation and experience, as well as through their continued work with leading technology in online security.