Since COVID’19, many mobile wallets have gained popularity. Both PayPal and Skrill are reliable and secure money exchange platforms. Usually, people own an account on both apps so they wish to know if it is possible to send money from PayPal to Skrill or vice versa.
- You can transfer money from PayPal to Skrill using a Bank Account, PayPal Card, or Skrill Card.
- Other convenient methods for this type of money transfers include the use of Online Service Providers, Currency Exchange Sites, Manual money transfers, or asking a favor from a friend.
- Money transferring charges vary for different methods. Transfers through bank accounts can cost up to 1.5% on every $1000 sent, PayPal card charges $2.99.
…and Much More!
How To Send Money From PayPal To Skrill
However, the process might not be direct when it comes to sending money from PayPal account to Skrill and charges some fees as well.
- If you wish to change currencies during the process it will charge you even more.
The indirect ways of the money transfer can take some time for you to get used to but let’s take a look!
Money Transfer Via Bank Account
Using a Bank account number for money transfer is quite a safe. However, the process might take up to 2-5 days to complete. If your accounts are not linked, this might take up to 8 days.
- Link your US savings account to PayPal. Then you’ll be able to make this transfer.
- Deposit money from PayPal to your bank account.
- By selecting money transfer, you can easily send money from your bank account to Skrill.
Note that the bank would typically charge you for such transactions. You may be charged up to 1.5% for every $1000 that you transfer.
PayPal to Skrill Transfer Using PayPal card
There is yet another way to transfer your money easily. This transfer method uses PayPal Debit MasterCard. You can even convert the currency of your transferred money in this way.
- It can take up to 15 days to apply and obtain PayPal card so you should have it beforehand.
Just like any other debit card, a PayPal card can finance your Skrill transfer although you have to watch out for the associated fees. The charges are $2.99 by this method as compared to 1.5% per $1000 bank fee.
Sending Funds Using Skrill Card
Skrill offers its customers money exchange through their Prepaid MasterCard. Unfortunately, this offer is just for European Economic Area (EEA) citizens.
- The other requirement for this method is to have both the PayPal Card and the Skrill card under the same name.
If both the necessities are fulfilled, you can use the following steps to complete the procedure.
- Link your PayPal and Skrill Account.
- Use a prepaid card to transfer money from PayPal to your Skrill wallet.
- If you wish to send it further, just use your Skrill wallet to transfer money.
Other Methods To Send Money From PayPal Account To Skrill
All the methods mentioned above are either expensive or time taking. We need to look for cheap methods of money transfer that can save your time. Here are a few options that might be helpful.
Get Help From a Friend
You can transfer money with the help of your friends but they need to fulfill certain requirements.
- He/she must have a PayPal account.
- He/she needs to own a functional Skrill account.
Once you find your match, you just need to ask your friend for a favor. Ask your friend to transfer funds from her Skrill account to yours and you deposit the same amount in their PayPal account. You’re all sorted!
Make Use of Online Service Providers
Online Service Providers offer you to set up a client and a vendor. Make sure both of them accept PayPal and Skrill.
- Now all you need to do is log in yourself as a client, and offer jobs with PayPal payments.
- Next, register as a contractor from a new account. Make sure you set its payments through Skrill.
Transfer Via Online Currency Exchange Sites
Some people wish to change the currency before transferring the money. Well, there are some apps that can help you do just that. Here’s how it works.
- Add your money to the currency exchange website of your choice.
- Select the account you wish to send it to.
- Choose the currency you want to change it to.
- You will now receive the amount in your account.
- The amount will not be the same since they deduct their fees. The cost for each website is different but, ranges from 1%-15%.
The time taken by these websites also varies. A few might take days to convert the currency others might do it in hours. Note that some worthy websites have a limit for the amount of money you could send in. it’s $100 for most apps.
Exchange Services That Allow Money Transfers Manually
You can find a bunch of these services online, but should you trust them?
Although it is hard to find a reliable exchange service online, it is not impossible. Once you find such a service follow these steps:
- Transfer your cash to the account number available on the website.
- Type in the account number of the person who would be receiving the money.
- Once they receive the email, website employees will send the money forward.
Make sure you choose a company that is registered or is advised by someone who has already used it. You can lose your money very easily if you don’t be extra careful with finding the best website.
PayPal To Skrill – What Charges To Watch Out For?
We have discussed the charges for different methods above but there are a few charges that we need to be aware of before linking our PayPal with our Skrill account.
When you link your debit cards with PayPal or even Skrill they will charge you 101.9% of the entire transfer. The app then uses the total amount as a code.
Multiply the amount that was charged with 100 and then divide it with 101.9. Now enter that figure as a code. Do check these extra charges properly!
The Bottom Line
PayPal and Skrill are useful money transfer platforms so it is kind of disappointing that direct exchange of funds is not possible between the two apps. Nonetheless, the methods that do exist are quite handy as well although they can be a bit time-consuming.
Frequently Asked Questions
What is the procedure for linking Skrill with PayPal?
The applicant needs to register themselves as customers and offer jobs. The next step is to log in as a contractor and select Skrill as your payment option. Now all you need to do is transfer money from PayPal to your Skrill account.
Is it better to use PayPal or Skrill?
Both these platforms are best for any money transaction. PayPal is rather secure and Skrill has a huge win over PayPal when we talk about payments. Both the apps have benefits and some losses but they are definitely worth a try.
Is it possible for Skrill to take my money?
If you have more funds than the fee charged, you can withdraw your money anytime. You can even choose the refund method that you desire.
Skrill is available in which countries?
A few countries where Skrill is available in 2021 include Australia, Finland, Belgium, Estonia, Pakistan, Portugal, United States, United Kingdom, Vietnam, and 50+ other options.
Jamie Johnson is very enthusiastic Kansas City – based freelance writer, and her core expertise are finance and insurance. She has been endorsed on several personal finance, insurance & business website to share her thoughts. Her publications can be found on famous sites like Bankrate, The Balance, Business Insider, Chamber of Commerce and many others.
From many years, she served more than 10,000 hours of research and writing to more than 2000 articles related to personal finance, credit building, mortgages, and personal and student loans.