NETELLER VS Skrill – Similarities and Differences
Neteller and Skrill are among the most widely used e-Wallets in the world today, especially in the area of depositing and withdrawing online casino, and betting site accounts. In this Neteller vs Skrill article, I will demonstrate the in depth differences between both of them.
Both companies are registered in the United Kingdom and are overseen by the United Kingdom’s Financial Conduct Authority. Bothe having been authorized with licenses to operate.
NETELLER vs Skrill | About NETELLER
NETELLER is one of the safest and easiest e-Wallet payment system in the market today. Founded in 1999, Neteller has its headquarters in the UK and the Isle of Man. They are well experienced in various kinds of financial transaction, which is the secret of their success and, has made them very reputable and well trusted by many clients.
NETELLER provides its customers with safe and secure transaction by applying a high level standard of security encryption through the use of the most sophisticated software technologies.
NETELLER is a one of the best platforms to manage your money easily and safely alongside with successful funding of your online casino, betting poker site accounts.
It’s free to sign up for a NETELLER account. Some deposit options such as bank transfer are also free.
There are two types of accounts which you can operate in NETELLER:
The Express account and the Extended account (VIP account).
The “Express account” is the easiest to open and it is possible to provide transactions through it in many currencies. It has depositing limit of 2,500 Euro.
The Extended account is an account that gives the owner the opporunity to make higher deposits as it has higher deposit limits.
Key Features of NETELLER
- Opening a NETELLER account is easy and free
- NETELLER has a high level of security encryption
- Transaction are safe and speedy.
- NETELLER is best used in casinos, forex, binary options, stocks and trading sites.
It is worthy to note that there are charges and fee involved while using NETELLER for payment/withdrawals and other transactions.
NETELLER vs Skrill | About Skrill
Skrill started as Moneybookers in United Kingdom in the year 2001, The Company was given permission to issue money transfer in 40 different currencies. With over 36 million users, skrill have attested to its trustworthiness.
To ensure the safety of its customers, Skrill will require you to scan your passport or other form of identification as well as show proof of address if customers reach a certain limit.
They also require you to give a thorough account verification before funds are released to you.
They do not allow cash deposits.
Opening a Skrill account is free and easy. The funding of your account is likewise safe, fast, and easy.
One outstanding advantage of Skrill is that withdrawal of funds from your account is free. Furthermore there are no delays except for bank withdrawals on weekends and holidays.
However, there are charges and fees when exchanging different currencies using Skrill.
Skrill has a standard account and a VIP account.
They are very good in online casinos, betting, gambling, forex, binary option etc.
Neteller vs Skrill | Similarities and Differences
There are similarities as well as differences between NETELLER e-Wallet and Skrill e-Wallet. We will like to delve into both e-currency payment platforms and dissect them both.
It is imperative to note that both payment platforms features and operations are usually affected by either country of usage or the type of online transactions done. With that in mind you can easily make a choice based on your geographical location or type of business engaged in.
Similarities between NETELLER and Skrill e-Wallets Accounts
- Both payment platforms has being in operation for over a decade
- Both are of UK origin
- Both are recognized by the United Kingdom FCA
- Both feature a free account sign up
- Both has presence in more than 200 countries
- There is a 1% Bitcoin Payment fee using either of the accounts
- The mutual transaction involving both accounts attract the same 3% transaction charges
- There is a 1.9% Sofort Payment fee using either NETELLER or Skrill
- Both payment platforms attract a 1% P2P/transfer transaction fee
- There is a free P2P Receive funds transaction charge on both accounts
- Manual bank transfer are free on both accounts
- Both NETELLER and Skrill are best used for online casino, betting, poker, binary options, forex, stocks, and trading payments
Differences between NETELLER and Skrill e-Wallets Accounts
|NETELLER Payment Method||Fees||Skrill Payment Method||Fees|
|Fast Bank Transfer||1.5%||Rapid||0.5%|
|Bank Transfer/Fast Transferr||Free||Bank Transfer/maestro/fast bank transfer||Free|
NETELLER vs Skrill | Further Comparisons
The methods highlighted above were just to compare NETELLER to Skrill for better clarifications. However, NETELLER has more deposit options compared to Skrill. To know more about deposit methods, visit the transaction fee’s page on the site.
- Choosing a bank draft for your withdrawal will attract a fee of 7.5-25 Euro
- If you choose to withdraw through bank transfer you will incur a fee of 7.5 Euro
- A member wire withdrawal costs 10.5 Euro
- Withdrawing to merchant site is free
- Money transfer costs 1.9% of the amount and the fee is capped at $20
Additional transaction Fees
- Transactions that require currency conversion attracts extra 3.99%
- A VIP member gets a lower exchange rate of 1% in foreign exchange fees
- Your NETELLER account must not stay inactive for more than 13 months or you will be charged and administrative fee.
- There is a variation between local and International withdrawal transactions.
- Bank transfer in local withdrawal transaction attracts a fee of 5.5 Pounds
- When it comes to global withdrawal transactions we have Swift which requires a transaction fee of 5.5 Pounds
- Receiving money on your Skrill account is free
- Sending money to other Skrill users attract a fee of 1.9% on the amount you are sending. The fee has been capped at 17.32 Pounds
- Transactions that require currency conversion using Skrill will add a fee of 3.99% on the exchanger rate to the money you transact. The exchange rates to the currencies you transact might vary and will be applied immediately without any notice.
- If your account is not active for more than twelve months, there will a service fee of 3 Pounds or equivalent that will be deducted from your account.
NETELLER vs Skrill | Verdict
If you are looking for a payment platform that suits you best in your online transaction, then I believe these comparisons between NETELLER e-Wallet and Skrill will help you make the best choice based on your geographical location and type of transactions you wish to do.