Skrill vs. PayPal: How to Choose the Best Service
These days it seems battling is the way to go. Offline or online casino, European or American blackjack, iOS or Android gambling, and whatever battling topic that comes to your mind.
At the end, your decisions boil down to another point: "Which payment method should I use to send or receive money?"
The fact is: there is an innumerable number of payment methods offered at online casinos' banking category.
The top kings are Skrill and PayPal:
They are both popular, fast, and convenient so why exactly should there be a battle?
The debate of which e-wallet is the better has been on the scene for a while and an ultimate winner is needed. Let's dive into the pool of both services and discover the better option.
Availability and Acceptance
PayPal is more popular than Skrill in any way possible.
PayPal is just two years older than Skrill (1999 vs. 2001), yet the market dominance of PayPal is significantly incomparable.
Whether you are buying a product from eBay, donating to Wikipedia, or simply carrying out transactions, PayPal has always been the first choice.
However, the online gambling market doesn't show much love for PayPal. The number of online casinos accepting PayPal is a handful when compared to other industries.
Despite the inferiority, Skrill is found on the better percentage of online casinos. Online casinos accepting electronic payments will likely accept Skrill over PayPal.
Summarily, Skrill is more accepted in the gambling world.
Registration and Verification
Registering on both Skrill and PayPal is free and relatively easy.
You just have to input your details correctly and hit the action button. These details range from personal to banking information.
Once registered, you have to verify your account. The verification process of each service is different but focused on the same point: to verify your identity and connect your banking information.
Skrill takes about 24 hours to verify your account while PayPal might take up to two days.
Transaction Fees and Withdrawals
The endpoint of choosing one of these is to deposit to your account and receive your winnings. Both services have zero fees on deposit to your preferred online casino.
As expected, withdrawal prompts the transaction fees so let's take a look at both differently. Skrill charges 4.9% of your total withdrawal, while PayPal will cut 3.4% of your total withdrawal along with 20p.
Skrill also charges 5% when you transfer money between two or more accounts. PayPal, on the other hand, charges nothing at all.
Transaction Processing Times
The processing time of transactions is very important for choosing the better e-wallet. Skrill takes 24 hours at most to process your withdrawal into your account.
Concurrently, PayPal processes transactions faster. In fact, you can get your withdrawal immediately while some get theirs in just two hours.
To top it all, PayPal will process your transaction faster if you have received money from the online casino via PayPal before.
They also track your connection. So, if you have received money using a broadband network before, they pay your money faster.
VIP and Extra Perks
Skrill gives you a VIP treatment when you spend a lot of money in the quarter of a year. With the VIP programme, you are entitled to special promotions, lower fees, extra security, and 24/7 dedicated support.
Spending over €6,000 will activate the Bronze programme while €15,000 activates the Silver programme. Spending €45,000 or €90,000 will activate Gold or Diamond programme (respectively).
Each programme offer a different set of perks but, of course, it is a hierarchy.
PayPal, on the other hand, doesn't offer a VIP loyalty programme but they also have a perk by using their MasterCard. This way, you gain points by using PayPal MasterCard to make payments online.
The points gained can be redeemed for gift and prize cards, cash-back, merchandise (housewares, electronics, etc.), and travel vouchers to ease your travelling experience and can be used for flights, car rentals, and hotels, etc.
Bonuses and Promotions
What's better than a good rush of outstanding bonuses? Nothing, I suppose.
Bonuses are available according to the payment method you choose. The majority of online casinos give you bonuses when you deposit via a specific method. As a result, choosing a "favoured" method is more reasonable and highly recommended.
From the onset, big online casinos offer bonuses for account holders using any method apart from Neteller and Skrill. You can verify this yourself by reading the full details of the bonuses offered by the online casino you are using, if large. Most of the large online casinos do this for a reason we don't understand yet.
Those online casinos accepting PayPal favours PayPal deposits. Yet, some online casinos — though mostly small — offer bonuses for account holders using Skrill or Neteller only. I know this is an irony but it's a fact and a strange occurrence.
By now, you should know the decision depends on your preference and needs entirely. Both have their pros and cons, and beat the counterpart in an aspect or the other.
But the truth is simple:it depends on you!
If you like the VIP programme, Skrill is a good shot. If you want to play at large online casinos, PayPal is your best bet.
The pros and cons are mentioned throughout this article. It boils down to you and you alone. Know what you want, need and prefer, and pick the best between Skrill and PayPal.