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MY experience with Skrill..BEWARE!

makeitrain (makeitrain)
Jun 30 2014 at 13:01
212 posts
So As I venture into forex, I chose Skrill as my payment processor for forex ventures. What a mistake that was. I was looking for something with low fees as My balance is small and also won't annihilate me in charges (uk resident trading/dealing in usd)
Funding the skrill account is simple so was sending money to broker but receiving money (from broker to skrill account)
money randomly disappears. I withdrew 126 I get 124 something, Its is random. They take money from you as they feel like it although it explicitly says on their site its free to receive money! my advice is stay away from them.

I am looking around for alternative ways to do forex online, any suggestions? I think webmoney fees are low but it looks overly complicated so I don't know.

Get rich or just die
raulgherman
Jun 30 2014 at 14:58
4 posts
it is not random

check broker withdrawal specs

i have been with moneybookers / skrill for the last 4 years -- never had ANY issue

i am also using their card

best regards

raul

rob559
Jun 30 2014 at 16:40
1916 posts
i'm with them since a long while too ,it's not a free service ,withdraw only when it's du ,don't do that often

makeitrain (makeitrain)
Jun 30 2014 at 20:01
212 posts
My broker takes the hit on charges for most methods including skrill it can do that because it is also a bank. I contact both parties customer services and they both assured me they never charged me. A little bit of googling turns out since money bookers switched to skrill they use intermediary banks and they take the money off the account at their own will!

Regards

Get rich or just die
stevetrade (stevetrade)
Jun 30 2014 at 20:40
1408 posts
I've lost a fair amount on exchange scalping with Skrill. I try not to use them unless I absolutely have to. I'd try and find brokers that you can find with credit/debit card or bank wire.

You'll especially lose a lot if you are moving from GBP to USD in Skrill, sending it to the broker and then changing it back from USD to GBP on withdrawal.

If you're trading in USD - which isn't the best idea if you're living in UK - then you might want to look into getting a USD bank account and using CurrencyFair.com to change your cash GBP into USD through there before sending it via a payment portal. Although they also charge so you need to be using reasonable amounts to not lose out on their transactions, but for larger amounts it's definitely worth the 2-3% that Skrill scalp on the exchange.
Best regards Steve

11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
StoneHeart (StoneHeart)
Jun 30 2014 at 21:00
131 posts
I use broker that support Neteller
 (https://www.forex4you.com/en/account/withdrawal-and-deposit-conditions/).
There is NO FEE for :
- transfer to Broker;
- transfer from Broker;
- using prepaid card on POS-terminal.
I pay only fee for deposit to system,
but there are few possibility without fee.
https://www.neteller.com/fees/
And by the way everything is INSTANT.

Small GAIN, big WIN
makeitrain (makeitrain)
Jun 30 2014 at 22:32
212 posts
stevetrade posted:
I've lost a fair amount on exchange scalping with Skrill. I try not to use them unless I absolutely have to. I'd try and find brokers that you can find with credit/debit card or bank wire.

You'll especially lose a lot if you are moving from GBP to USD in Skrill, sending it to the broker and then changing it back from USD to GBP on withdrawal.

If you're trading in USD - which isn't the best idea if you're living in UK - then you might want to look into getting a USD bank account and using CurrencyFair.com to change your cash GBP into USD through there before sending it via a payment portal. Although they also charge so you need to be using reasonable amounts to not lose out on their transactions, but for larger amounts it's definitely worth the 2-3% that Skrill scalp on the exchange.
Best regards Steve


Yea I know its not best of ideas but I don't plan on withdrawing back the dollars anytime soon if they make profits and returns only reinvestments.
Lesson learnt, Halifax(my bank)is horrible for forex dealing, whether international payments or foreign currency conversions. I mean atrocious lol 😲

StoneHeart posted:
I use broker that support Neteller
 (https://www.forex4you.com/en/account/withdrawal-and-deposit-conditions/).
There is NO FEE for :
- transfer to Broker;
- transfer from Broker;
- using prepaid card on POS-terminal.
I pay only fee for deposit to system,
but there are few possibility without fee.
https://www.neteller.com/fees/
And by the way everything is INSTANT.


wow, that sounds too good to be true..but then how do they make their money to stay in business? how long have you used them for , any problems?

Get rich or just die
StoneHeart (StoneHeart)
Jun 30 2014 at 23:06
131 posts
This is BEST payment system, I've ever use.
No any problem. Extremely hi level of security.
(@VIP) You even can visit office in UK : https://www.neteller.com/about/
And ... it is not may business , now do they win, if do not pay them.
Probably someone else did : brokers, bookmakers, casino .

Small GAIN, big WIN
harin
Jul 01 2014 at 06:43
4 posts
Been using moneybookers/skrill for around 3 years now. Never had issues with them until Moneybookers became Skrill. During Moneybookers' time, withdrawal was only around 1-2 days. Now they are consistent at 5 exact days! :) I've also noticed the extra $$ lost during the withdrawal transactions when they became Skrill.

Recent withdrawal:
$121.7
-$4 (Skrill fee)
= $119.7 (effective amount to be transferred)

Arrived:
~$104.7

I've lost around $15 in between. I don't know where it went so I just assumed that the transaction cost between banks ate it.

My previous $300 withdrawal even cost me around $60!

makeitrain (makeitrain)
Jul 01 2014 at 06:53
212 posts
StoneHeart posted:
This is BEST payment system, I've ever use.
No any problem. Extremely hi level of security.
(@VIP) You even can visit office in UK : https://www.neteller.com/about/
And ... it is not may business , now do they win, if do not pay them.
Probably someone else did : brokers, bookmakers, casino .


I see thanks I will research them further just So I don't get screwed again like with skrill! how long have you been using them?

harin posted:
Been using moneybookers/skrill for around 3 years now. Never had issues with them until Moneybookers became Skrill. During Moneybookers' time, withdrawal was only around 1-2 days. Now they are consistent at 5 exact days! :) I've also noticed the extra $$ lost during the withdrawal transactions when they became Skrill.

Recent withdrawal:
$121.7
-$4 (Skrill fee)
= $119.7 (effective amount to be transferred)

Arrived:
~$104.7

I've lost around $15 in between. I don't know where it went so I just assumed that the transaction cost between banks ate it.

My previous $300 withdrawal even cost me around $60!



Dang, that's alot..yea I am definitely not loading any money on it any more. I was going to get their card once things get rolling ahwell squashed plans now😑

They eating my money from broker back to my skrill account, I don't want to know how much they will eat bringing the money home into my bank!

Get rich or just die
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