Skrill Alternatives and Competitors

September 7, 2020

Skrill, formerly known as Moneybookers, has a fair amount of competition when it comes to transferring money overseas. While banks previously dominated this space, now, a number of specialist money transfer companies compete for your attention.

If you are wondering which Skrill competitor is the best, you will have to consider many different factors. Given that the foreign currency exchange market remains volatile, a company that offers the best rates today might have a different story to tell tomorrow. Furthermore, factors such as where you live, how much money you want to transfer and how quickly you want the transfer to take place, and online payment options, all go into picking a suitable Skrill alternative.

Forward contracts and limit orders
Scheduled transfers
Travel money solutions for residents of the UK
Multilingual website

low

Fees

medium

2-3 days

Go to Site

Fee-free transfer limit
Forward contracts
Stop loss orders
Limit orders

low

Fees

medium

2-3 days

Go to Site

Fee-free transfers
Scheduled transfers
Forward contracts
Limit and stop loss orders
Travel money solutions for UK residents

low

Fees

medium

2-3 days

Go to Site

0.4% margin for new customers referred by iCompareFX
Fee-free transfers
Scheduled transfers
Online and phone transfers

low

Fees

medium

2-3 days

Go to Site

Jump to an alternative provider

Currencies Direct

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Global Reach Group

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TorFX

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OFX

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Currencies Direct

This Skrill competitor is one of the oldest players in the field. Currencies Direct began operations out of the UK, in 1996. Now, it has offices in US, France, Portugal, Spain, India and South Africa; and operations in Ireland, Scandinavia and Malta. This alternative to Skrill offers its services to individuals, businesses and online sellers.

Open an individual, a business or an online seller account

Get access to an account manager

Allows scheduling of transfers

Lets you choose from spot orders, limit orders and forward contracts

Headquartered in the UK, offices also in China, France, India, Portugal, South Africa, Spain and the U.S.

Website access in English, Chinese, French, Italian, Norwegian, Portuguese, Spanish and Swedish

Provides local phone support in some countries

Offers travel money solutions in the UK

Transfers only to bank accounts

Global Reach Group

Global Reach Group first started in 2002. Since then, this company has witnessed considerable growth. This alternative to Skrill has its headquarters in the UK, and offices also in the Netherlands, Cyprus and South Africa. Setting up regular transfers through Global Reach Group is easy. Access to the company’s website comes only in English.

Get access to a currency specialist

Schedule transfers easily

Choose from forward contracts, stop loss orders and limit orders

Headquarters in the UK, offices also in the Netherlands, South Africa and Cyprus

Transfers only to bank accounts

Website available only in English

TorFX

TorFX is another alternative to Skrill that offers better exchange rates than banks. You can use its services as an individual or a business. This UK-based money transfer company has been around since 2004. While the UK-based website has been operational since its inception, its Australian website only started in 2013. Other than the UK and Australia, this money transfer company has offices in Europe, US and South Africa. Check this page for more information about TorFX.

Aims to offer better rates than its competitors

No fees for personal transfers

Easy to schedule transfers

Lets you choose from spot orders, limit orders, stop loss orders and forward contracts

Offers travel money solutions in the UK

Transfers only to bank accounts

Headquarters in the UK and one office in Australia

No multilingual website

OFX

This money transfer company operated as OZForex until 2015. When it began operations in 1998, it was no more than a foreign exchange information-only website. The OFX group previously comprised of international money transfer websites such as UKForex, USForex, NZForex, and CanadianForex. They all operate as OFX now. This company continues to have its headquarters in Australia, and also has offices in New Zealand, US, Canada, the UK and Hong Kong. It offers services to individuals and businesses.

Tries to offer rates that match or beat those offered by its competitors

Pay no fees by transferring more than predetermined threshold limits

Transfer funds online or over the phone

Scheduling transfers is simple

Choose from spot orders, market orders and forward contracts

Headquarters in Australia, offices also in Hong Kong, New Zealand, the UK and the U.S.

Provides local phone support in some countries

Transfers only to bank accounts

You can trade in some currencies only over the phone

Website access only in English