Moneybookers is quite a well-known name on the interwebs, and even more well known among online casinos. The business recently renamed to Skrill (perhaps a amrine biology bent in one of the new managers?!), so we’ll refer to it by both names throughout this review. However, being well known doesn’t (necessarily) mean that it will meet your needs in depositing and withdrawing from online casinos. Today we check out the positives and negatives of using Skrill/Moneybookers as your main online casino deposit method.
How Does Skrill/Moneybookers Work?
Moneybookers works in the same way as just about every other payment processer on the internet! You can deposit money into it using other online accounts, bank account transfer or credit card, then use it to pay for items that you purchase online … or deposit it into your online casino account and play with it.
Skrill/Moneybookers Deposits and Withdrawals
Skrill/Moneybookers deposits are made through bank transfer or credit card. However, unlike PayPal, this online casino payment processor cannot debit directly from your savings account. You’ll need to initiate the transfer, much as you would to pay for an eBay item via bank transfer or send money to your family.
You can also use POLi in Australia, and there are some local deposit options available for other countries, such as ePay, Sofortuberweisung in some European countries, Nordea in Finland, Carte Bleue in France, etc.
Unfortunately, there are no other methods to get money into your Skrill / Moneybookers account in Australia though. You cannot make cash deposits into your account, nor can you have anybody else pay into your Moneybookers account from their bank account or credit card. This is an anti-money laundering regulation.
In terms of using your Moneybookers account to play at online casinos, this creates a double-edged sword. It means that you aren’t tempted to spend more than you really wanted to at an online casino, because it takes a few days to deposit more money into your account. However, you may wish to deposit an entire month’s worth of online casino money into your account at once to save time … and then it is available to lose.
Withdrawals can only be made to bank accounts listed in your name, to credit cards or by cheque in USD, Euros or GBP.
How Much Does Skrill / Moneybookers Cost?
Everybody wants a piece of your pie, and Moneybookers is no different! However, their fees are more reasonable than some other payment processors. Fees are 1% of the transaction, but a maximum of 50 Euro cents per transaction
Is Skrill/Moneybookers Safe?
Yes. Skrill / Moneybookers is regulated by the FSA (Financial Services Authority) in the UK, and registered as an English / Welsh company. They have over 14 million accounts worldwide currently.
Before you decide to use the service as your main deposit or withdrawal method for online casinos, remember that:
- Skrill / Moneybookers is a safer option for your online casino, because there are no chargebacks available as there are for credit card deposits. This may mean that you get an extra bonus for depositing with Moneybookers at your online casino … but this may also mean that you have extra wagering requirements or playthrough rules before you can cash out!
- Because there are no chargebacks, you should be completely certain that you are playing at a reputable online casino. You lose the protection that credit cards afford you.
- Moneybookers has a better reputation for customer service, efficiency and responsiveness to problems than PayPal does, in some circles.
- Like all other payment processing websites as well as online banking options, Skrill / Moneybookers is not immune to hacker attacks. There are many ways you can and should protect yourself – but online money transfers are just inherently risky!
- Again, as with many other payment processing options, you’ll need either a driver’s license or passport to use as verification of identity. If you don’t have either of these documents, another online casino deposit option may be better for you.
Skrill / Moneybookers is a highly regarded, extremely safe payment option for your online casino account, with excellent customer service. You need to be careful with your money here (as you would anywhere else).