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October 9, 2022PayPal and Skrill are two of the world’s leading giants when it comes to e-wallets and online transactions. Both limit how often you need to share your personal banking information and both offer fast, reliable and secure online transactions.
So, which one should you choose? Our article will discuss the pros and cons for both, highlighting any key differences or unique features. This will hopefully provide you with all the tools you need to make an informed decision on which method is the right choice for you.
What is PayPal?
PayPal is recognized worldwide as one of the largest e-wallet services, accepted at many of the best online casinos it is operational in no less than 200 countries. Registering for an account is free and players can enjoy safe and secure transactions via any device.
What is Skrill?
Founded in 2001, Skrill is one of the most popular e-wallets used by online gamblers across the world. It enables fast and reliable transactions, supporting more than 40 currencies. Account registration is free and players are able to fund their e-wallet from several sources.
PayPal vs Skrill – Ease of Use
It’s important to note that it is possible to use leading online payments, PayPal and Skrill, to deposit in online casinos in the UK. Neither require you to share financial information with third parties as the e-wallet is funded from your banking provider and enables e-wallet to casino payments seamlessly.
Both PayPal and Skrill offer a mobile app that enables you to check your account balance or make online transactions whilst on the move. The apps for both digital e-wallets are compatible with most major operating systems including iOS and Android.
PayPal vs Skrill Fees
As we mentioned earlier, to open an account with either PayPal or Skrill is free. However, fees may be incurred through online transactions. When paying online, PayPal asks for a 4.50% service fee whilst Skrill operates a 2.99% service fee.
When it comes to casino deposits and withdrawals, many reputable online sites will waiver any fees incurred, however, some will insist on charges. These can vary and are usually applied to withdrawals. It’s always advisable to read through the site’s t’s and c’s carefully.
Players may typically face around 1-3% fees via Skrill whereas PayPal users could face 3%+ fees. When it comes to transferring between accounts, Skrill charges 1.9% but with PayPal it’s free.
PayPal vs Skrill Pros & Cons
As market leaders, both PayPal and Skrill share some common advantages as follows:
- You can deposit to online casinos in the UK via both of the payment methods
- Account registration is free and simple to activate
- No sharing of banking information with third parties
- Mobile App compatible with iOS and Android operating systems
- You only supply your financial details once
- You do not require a credit or debit card as long as you have a bank account
When it comes to comparing differences, there are but a few:
| PayPal | Skrill |
| · Complex fee structure | · Transparent fee structure |
| · Recognized for commercial online transactions e.g. eBay, Amazon | · Widely recognized and accepted within the iGaming industry |
| · Higher fees charged on withdrawals from casino to PayPal | · Higher fees charged on withdrawals from e-wallet to bank |
| · Up to 20 currencies | · 40+ currencies |
| · Casino processing times up to 2hrs | · Processing times up to 24hrs |
PayPal vs Skrill – Comparison Outcome
When comparing these two e-wallets, it’s pretty noticeable that only a few key differences really separate them. Overall, they are both excellent choices and deliver a top-notch service which enables safe and reliable online transactions.
Of course, PayPal and Skrill are not the only payment methods available for online casinos in the UK, there are multiple options accepted. These include debit cards, other e-wallets, bank transfers and prepaid vouchers.
One reliable site, https://www.thedigitalbankingclub.com/uk/ reviews the different payment methods available for online gaming and casinos. It will check and score each one against several parameters including pros and cons, security and reliability, transaction and processing speeds plus any fees or limits imposed.
Not only does it analyze payment methods in greater detail, but it also helpfully recommends the best possible online casinos in the UK where you can use such methods.
PayPal vs Skrill – Who Wins?
Although there’s not much in it, Skrill just seems to have a slight edge over PayPal when it comes to online casino transactions in the UK. PayPal is widely recognized globally for its online commercial transactions but not quite so much in the iGaming industry where Skrill is hugely accepted, especially in the UK.
PayPal’s fee structure seems to be pretty complex with certain hidden charges popping up here and there which makes us lean further to Skrill who display transparency in setting out fees. This being said, PayPal do come out on top with processing times and both are safe and reliable payment methods.
