Skrill began as the Moneybookers electronic wallet in 2001. When the company expanded and modernised its business, the name of the electronic wallet was changed to Skrill, which is a slang term for money. Despite the change in name it is still listed as Moneybookers in a few online casinos. After going through some ownership changes, Skrill was acquired late in 2015 by Paysafe, the company that also owns the rival electronic wallet NETELLER. As of now both electronic wallets retain their individual identities and compete in the same online gaming market. Skrill is authorised by the Financial Conduct Authority. It operates in over 200 countries including Australia.
Skrill Casino Payment Option for Australians
How to use Skrill casino banking option
You begin by opening an account with Skrill. This can be done in a few simple steps from the Skrill web site. At this time you will be given the log in particulars that you will need for depositing through Skrill, which you should keep handy but safe. You then have to fund your Skrill account. This will be discussed in some detail later. When you sign up at the Australian online casino select Skrill as the payment option.
For making a deposit, you go to the cashier of your online casino and select the Deposit option. You click on the Skrill icon to initiate the process. You enter the amount you wish to deposit. You will be taken to the Skrill web site where you have to log in again and follow the instructions on the screen to complete the process.
The process of making withdrawals is similar. You access the cashier and choose the Withdrawal option. Enter the withdrawal amount, select the Skrill icon and follow the instructions to complete the transaction. The withdrawal request will be registered and processed after the online casino pending period is over. Remember that you can use Skrill to withdraw funds only if you have used it as a deposit option.
Pros of using Skrill casino banking option
- Skrill payment option can be used for both deposits and withdrawals at online casinos. The transfers from Skrill to online casinos and from online casinos to Skrill are free. Since the transfers are done electronically they happen instantly.
- You have to load only your Skrill account using external means like credit cards or bank accounts. From there you can make deposits at how many online casinos you desire. Your credit card or bank account details will only be on the Skrill server and not with any online casino.
- Many online casinos give you extra bonuses for making deposits using Skrill. Skrill also rewards loyalty with VIP users getting additional benefits like club membership and exclusive promotions.
- Once you open a Skrill account you can use it for other purposes as well. Many online merchants accept payments through Skrill. It is a cost free and easy way to transfer funds to friends and relatives.
Cons of using Skrill casino banking option
- Most Australian players look to fund their Skrill accounts using credit cards or debit cards. Since they already use these cards for other payments they find it convenient to use it for Skrill as well. But Skrill charges a fee of 1.9% upwards on the amount loaded and this ultimately eats into the players’ bankrolls.
- Similarly withdrawals from the Skrill account to credit cards or bank accounts are also subject to a fee. Unless players have some other avenue to spend their winnings from online casinos, they would have to at some time withdraw it from their Skrill accounts. This becomes a more serious problem if players hit a big payout.
- If you are playing at an online casino that does not transact in Australian dollars there will be yet more costs. The funds will be remitted in some other currency and be converted to Australian dollars by Skrill. Apart from the usual currency exchange charges Skrill will levy an additional fee.
Tips about using NETELLER casino banking option
You have to treat your NETELLER account as you would your bank account. It is in fact an online account where your funds are stored. Keep your NETELLER log in parameters in a secure place and do not use public computers to log in to your NETTELER account. It could compromise the security.
It is a waste of money to load your NETELLER account using credit or debit cards. Note that there is a fee for loading through POLi as well. If you have online or telephone banking facility then transferring funds from your bank can be done from the NETELLER web site itself. Even if you have to visit your bank to complete the transfer it is worth the trouble.
Since you have to pay for withdrawing funds from your NETELLER account do it only when you absolutely have to. Say for example you hit a huge payout at your online casino. Withdrawing and then depositing again after a week is meaningless. Keep in mind that you can use NETELLER for other online purchases as well.
Do not let your NETELLER account lie idle for more than the allowed period and pay a penalty. Send money to a relative and take it back in order to show transactions in the account.
Keep track of the NETELLER web site. They have excellent information on how to use NETTELER securely. Maximise your benefits by participating in promotions and redeeming your reward points in time.