Below is How To Use Skrill In South Africa
Skrill is a financial platform available to clients with residence in South Africa that offers payment, shopping, and money transfer services. An Online Account with Skrill works very similarly to a bank account, allowing users to:
receive money, transfer money for Free, in a fast and easy way, and pay for products and services online.
These types of accounts are called e-wallets or electronic wallets.
Skrill offers the following services: Online Shopping and Payments. Instant Money Transfers to almost every destination in the world [even to bank accounts] for free. Skrill is a platform widely used by those who operate, work, invest, bet, or need to transfer money to bank accounts in foreign countries regularly. Registration is free and online.
Use cases of a Skrill Account
However, if a Skrill account can use almost all the functions of a traditional bank account and have a conventional bank account… why do I need to establish an online account with a company like Skrill? This reasoning is valid; however, specific use cases may be unique and make life easier for Skrill customers and their home environments. The following is a list of these use cases, but there are more use cases:
If someone lives in a country with money restrictions or international bank transfers are expensive (A common situation in many other African countries).
If two family members have Skrill accounts, and one of them goes on vacation, suffers an accident, and quickly needs money, the other family member can immediately send money online.
Suppose you require an account in a different currency than Rand. Skrill allows accounts in US Dollars, Euros, Pounds Sterling, among others.
If you need to send money regularly to relatives living abroad.
If cryptocurrency traders need to deposit and withdraw funds from their trading accounts regularly.
If you make regular online purchases, Skrill is a much safer option than a traditional bank account, because being it a prepaid account, if the website where the purchase is being made is a scam or their intention is to steal credit card data, the customer is only exposed with the balance available on the Skrill account.
How does Skrill work in South Africa?
Skrill accounts work as an online banking app of any traditional bank. It offers a view of the cash balance, transactions, money transfer options, etc. The only difference is that Skrill is an online financial institution; that is, it does not have physical branches to go to, for example, deposit cash. It is an app on the phone, which has been designed to offer payment solutions and money transfers to almost everyone in the world at a meager cost compared to traditional banking. In general terms, the operation of a Skrill account works as follows:
Download Skrill’s App on the phone. Skrill will request personal information to open the account. You must choose the base currency you will use (You may select ZAR, but there are other available options).
Deposit Money. Skrill allows deposits with Credit Cards, bank transfers, and other payment processors such as Neteller, Paysafe, or even Bitcoin.
Receive money from other Skrill accounts or online services (Trading Platforms, Casinos, Payment Services, Shopping) that allow Skrill transfers. Other people or online companies can transfer money to the Skrill account in a simple and almost instantaneous way.
Make Payments and Purchases through Skrill Rapid Transfer, which works as an online account and can be used for online purchases.
Low-Cost transfers. Once the account has been funded, very low-cost local and international transfers can be made; some transfers are free, depending on where the money is being transferred. For this reason, it is a service widely used by ex-pats to manage money.
Skrill Withdrawals to South African banks
Many South Africans ask us how easy it is to withdraw their funds from Skrill to their FNB or Standard Bank accounts. In South Africa, Skrill works with 4 of the 5 largest banks, except Capitec. You can save your bank account details and then send the money to your bank.
Absa Bank
Standard Bank
Nedbank
Skrill Prepaid Mastercard
Skrill clients can enjoy instant access to their account’s balance with a Skrill Prepaid Mastercard®. Cards are received within 7-10 days allowing clients to pay online and in-store wherever Mastercard is accepted. Also, it will enable Skrill’s clients to withdraw funds at any ATM worldwide.
Skrill’s Advantages
Transactions between Skrill accounts are instantaneous, which means that if two users have a Skrill account and one transfers money to the other, the latter has it available to spend or withdraw instantly.
Transactions between Skrill accounts are free.
Transfers to some Bank accounts are free.
Receiving money from a massive list of vendors is free.
How do I fund my Skrill account in South Africa?
Step 1: Open a Skrill South Africa Account.
Step 2: Fund Your Skrill Account.
Step 3: Select Your Skrill Casino or Forex Broker.
Step 5: How to Withdraw Your Funds to Skrill.