Skrill is a UK virtual wallet app used for money transfers, payments and even cryptocurrency trading. If you’ve just started using Skrill, you’ll want to know how it all works.
This includes how to withdraw your money from Skrill when you need to. Read on for everything you need to know, including withdrawal methods, fees and how long it takes.
And, if you’re shopping around for an alternative provider for sending money and spending abroad, consider checking out the Wise account from the money services provider Wise.
Learn more about the Wise account 💰
How to withdraw money from Skrill?
There are a couple of different ways you can withdraw your money from Skrill. You can transfer your balance to your bank account, or you can send it to a card.
It is also possible to withdraw to PayPal, but not directly - we’ll show you how to withdraw money from Skrill to PayPal below.
| 📚 Read more: 12 alternatives to Skrill in the UK |
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From Skrill to bank account
Here’s how transfer money from Skrill to a bank account in a few easy steps:¹
- Go to your Skrill account and login
- Head to the ‘Withdraw’ section
- Under ‘Bank Account’, select ‘Withdraw Now’
- Choose a bank account - you’ll need to add one if you haven’t already linked a bank account to your Skrill account
- Enter the amount you want to withdraw
- Check all the details and confirm by entering your Skrill PIN.
From Skrill to card
Another option is to send money from your Skrill account to a Visa or Mastercard debit or credit card. Here’s how to do it:²
- Sign in to your Skrill account
- Go to the ‘Withdraw Now’ section
- Under ‘Credit or Debit Card’, select ‘Withdraw now’
- Select a card - or add one if you haven’t already
- Enter the amount you want to withdraw
- Check all the details and confirm by entering your Skrill PIN.
From Skrill to PayPal
You can also withdraw money from Skrill to PayPal, but not directly. You’ll first need to follow the steps above to withdraw money to your bank account.
The next step is to make a bank transfer to top up your PayPal balance. However, it’s probably easier to simply link your bank account to your PayPal account. This will let you use your bank account to spend via PayPal, without the need to top up or deposit funds.
How to withdraw crypto from Skrill?
With Skrill, you can convert your cryptocurrency back to fiat currencies like euros, dollars and pounds. Another option is to withdraw straight to a crypto wallet.
To withdraw crypto to a bank account (to turn it into cash), follow these steps:³
- Login to your Skrill account
- Select your crypto portfolio
- Choose the crypto you’d like to withdraw/convert
- Select ‘Sell’
- Select a fiat currency to convert to (i.e. GBP)
- Confirm by selecting ‘Withdraw’ to send to your bank account.
The process is similar to withdraw to a crypto wallet. You simply need to select ‘Crypto Wallet’ under ‘Withdraw’, then enter the amount and the wallet address.³
Skrill withdrawal fees
There are some fees involved with withdrawing money and crypto from Skrill. These vary depending which withdrawal method you choose.
Let’s take a look:⁴
| Method | Fee |
|---|---|
| Withdraw to bank | 1.75% (min. £3.50) |
| Withdraw to Visa debit/credit card | 1.99% |
| Withdraw to Mastercard debit/credit card | 1.99% |
| Withdraw cryptocurrency to bank account | 0% via a merchant |
| Withdraw to crypto wallet | 2% |
| 📚 Read more: How to close an account with Skrill? |
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How much can you withdraw from Skrill?
Skrill does have some withdrawal limits, but these are personal to each user. You can check your own limits in your Skrill account profile.⁵
How long does it take to withdraw money from Skrill?
If you’re withdrawing from Skrill to your bank account, it should take between 1-5 working days for your money to arrive.¹
For withdrawals to cards, it takes up to 3 working days.²
After reading this, you should be all set to withdraw money from Skrill in whatever way you choose. Just bear in mind the fees and timescales, as not all methods are cheap and fast for withdrawals.
Also, if you still need to send money, especially in different currencies, consider opening a Wise account. You can transfer money to 40+ currencies for low fees and mid-market exchange rates.
Sources used:
Sources last checked on date: 10-May-2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information. This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
