Personal Features



Send and receive money directly through your Skrill account.

Pay a merchant directly from your Skrill wallet.

Option to use Skrill’s website or app on Apple or Android.



TransferWise provides a simple easy to use international money transfer service with digital wallet capabilities. Their digital wallet, or Borderless account also gives the individual local banking details in 6+ currencies including, EUR, SGD, NZD, USD, GBP and AUD. Their TransferWise Borderless debit card backs on to their Borderless digital wallet allowing you to spend directly out of your multi-currency account balances.

What TransferWise offers individuals

  • International money transfers
  • Borderless multi-currency receiving accounts
  • Borderless Debit Card - FX optimised debit card
  • Android and Apple apps
  • Send money to email address

What TransferWise does not offer individuals

  • Personal account management
  • Regular transfers
  • Cash pick up or international bill payments

TransferWise is a winner by far as TransferWise offers much more to the individual than Skrill. TransferWise offers personal debit card’s optimized for travel. Their multi-currency Borderless account, with local banking details beats Skrill’s simple digital wallet solution. Skrill does have one feature that TransferWise doesn’t offer. Skrill’s digital wallet allows their customers to pay for online products and services. Skrill customers can also buy crypto currencies. But with TransferWise’s debit card, customers can purchase foreign products and services cheaply anywhere in the world.

Ribbon Icon

Business Benefits



Offers fast, instant and secure optimised payment solutions, suitable for all businesses. 

100+ local payment methods including cards, digital wallets, instant bank transfers and other alternative payment methods. 

Manage over 40 currencies from just one account, to handle easier cross border payments.

Charge-back protection and fraud management.

Accounting integration.

Multilingual customer care.



In addition to the services TransferWise offers the individual, there are some features only available for a business. Unfortunately, as TransferWise is online only, a business customer does not have support with currency fluctuations and trends. TransferWise does however offer easy to use transactional foreign currency receipts and payments.

What TransferWise offers businesses

  • Batch payments
  • Xero and Quickbook integration
  • FX optimised business debit card
  • Multi-user account access

What TransferWise for business doesn’t offer

  • Business account management
  • Risk management tools
  • Regular transfers

TransferWise is better than Skrill for small businesses. TransferWise allows customers to batch pay overseas suppliers, receiving funds like a local in 6 currencies and their business debit card backs on to the borderless account. Another advantage of TransferWise is the accounting integration with multiple solutions such as Xero and Quickbooks.

Where Skrill has the slight advantage is their online seller partnership with seller platforms like Wix, Shopify and WooCommerce. Consumers can pay at checkout with the Skrill wallet. Revenue can be deposited directly into your Skrill account. However, this alone cannot compete with TransferWise’s full range of business services. For businesses, TransferWise is the better option.

Ribbon Icon

Fees & Exchange Rates



Exchange rates

Skrill applies existing mid-market rates on all transfers without adding any markup.

Additional Fees

You pay no fees when transferring money to overseas bank accounts.

Use your Skrill wallet online and in-store to attract no fees.

You can receive money into your Skrill account without paying any fees.

The company charges a U.S. $3 fee each month if there is no activity in your account for 12 months.

Sending money to another Skrill wallet or an email address requires that you pay 1.45% of the transfer amount as fees.

Uploading funds into your Skrill account attracts fees, which vary depending on the payment method.

Withdrawing funds from your Skrill account into your local bank account attracts fees.



TransferWise offers the real time exchange rate at the time of your transfer. Therefore fees are visible in addition to the transfer amount. The fee structure is complex as it differs depending on the currencies you are sending from and to. Fees also apply to the type of Borderless account transaction. Fees can also apply on the use of the TransferWise Borderless debit card. Fees are briefly summarised below. Read the detailed TransferWise review for more details on TransferWise fees.

TransferWise ServiceTransferWise fee
Simple International Money Transfer

0.4% - 2% 

Varies on currency and payment type

Adding to TransferWise Borderless account0.4% - 0.5%
Converting between Borderless account0.3% - 0.6%
Sending money out of Borderless accountLess than 0.1% in most cases
Borderless Account Debit Card

No fee for card issuance

Fee free cash withdrawal limit of US$250, 2% thereafter

Zero cost on spend from existing currency balance, 0.24 - 3.69% fee if there is no existing balance

TransferWise has lower fees for currency conversion than Skrill. Skrill’s 3.9% currency conversion fee is applied when withdrawing funds from the Skrill wallet to a bank account in a different currency. 3.9% is a very big fee. 

TransferWise’s currency conversion fees vary depending on the currencies being converted. Generally you are looking at between 0.5% and 1%. It’s pretty clear why Skrill can’t compete against TransferWise for fees and exchange rates. If you are not dependent on Skrill’s online seller integration, TransferWise is the better option for sending money internationally.

Ribbon Icon

Ease of Use



You can use the Skrill website in various languages.

Depending on where you live, you can make payments via bank account transfers, debit cards, credit cards, ACH, or Paysafe cards.

You can use the services of Skrill to buy cryptocurrencies such as bitcoin, bitcoin cash, litecoin, and ether.

You can use money in your Skrill wallet to make online and in-store purchases.

The prepaid Skrill Mastercard lets you access funds in your account easily.



The TransferWise app design and user experience of their technology is great with simple, intuitive processes.

Registration - Fast and easy account creation

ID verification - Instant in some countries

Transfer speed - It can be instantaneous in some countries. Fast payments to TransferWise comes at an additional cost.

Minimum transfer amount - $1

Mobile app - Simple and easy to use. Probably the best designed app of the international money transfer companies.

Payment options - TransferWise has the broadest range of payment options. Local bank transfer, debit / credit card and country specific solutions such as POLi.

Both Skrill and TransferWise are easy to use by and large. Both offer multiple payment options and payout options. TransferWise user experience across it’s website and apps are superior to Skrills. Skrill’s money transfer speed is slow in comparison to TransferWise. TransferWise’s payouts or transfers can be at times instantaneous.

Ribbon Icon

Support & Countries



Supported Countries 

Skrill provides services in most countries other than Afghanistan, Cuba, Eritrea, Iran, Iraq, Kyrgyzstan, Libya, North Korea, North Sudan, South Sudan and Syria.

Gambling-related transactions are restricted in the U.S., Turkey, Israel, Malaysia and China.

Customer Service

Skrill gets a terrible score on Trustpilot of 1.2 out of 10.



TransferWise’s supported countries vary with different services having different supported customer countries and destination countries. These are detailed in the TransferWise Countries and Currencies article and is summarized below.

Send from - 23 countries plus the Europe SEPA countries

Send to - Over 60 currencies

Borderless account and debit card - Over 6 countries can sign up to their Borderless services.

TransferWise and Skrill offer support for a large number of currencies. TransferWise offers support for more destination currencies and registration countries. When it comes to customer support, Skrill reviews show a large number of customer complaints. This is not a good sign for good customer support and these publicly poor customer reviews are not being addressed.

Ribbon Icon

Trust & Transparency



UK-based Skrill is registered with the Financial Conduct Authority (FCA).

Paysafe Financial Services Ltd. is responsible for issuing the prepaid Skrill Mastercard.



TransferWise is fully regulated by the FCA and their customer funds are segregated from their business banking activities.

TransferWise is rated on TrustPilot as Excellent. Unfortunately there have been some poor reviews on TrustPilot indicating sudden account closures with funds being returned with no explanation.

TransferWise continues to raise capital through private funding. This could be a concern for the future when the shareholders are looking for aggressive growth and / or a return on their investment.

TransferWise has more trust and transparency when compared to Skrill. Within Skrill’s FAQ they do clearly state Skrill’s large exchange rate margin. However, within the app this is not so transparent. TransferWise is very clear on offering the mid market exchange rate and the additional fees on top. TransferWise is quite transparent. Unfortunately, you will not know the fee for TransferWise money transfer until you use their Send Calculator. Fees vary between destination currencies. 

Unfortunately Skrill’s trust is low as is evident in Skrill customer reviews on TrustPilot, Google Play Store and Apple Store.

Ribbon Icon

The Result

Winner ribbon iconWinner


For international money transfers, TransferWise is the clear winner when comparing TransferWise and Skrill. TransferWise offers more comprehensive services for the individual and businesses. Their fees are much lower than Skrill which is reason enough alone to choose TransferWise over Skrill.

Skrill does have unique features which may draw consumers such as their payment wallet. Much like PayPal, consumers can pay for goods and services using their wallet with merchants who accept payments via the Skrill wallet. Merchants can integrate Skrill into their checkout to attract Skrill customers for ease of payments while protecting their financial details. 

If you are a merchant you may choose to integrate with Skrill. Just be aware of the high currency conversion fees. Merchants should consider attaching a TransferWise Borderless account to their Skrill account to avoid the high currency conversion fees.