|Founded||27 July 2001|
|Headquarters||25 Canada Square, London, United Kingdom|
|David Sear CEO
David Clarke CFO
Neil Ward CPO
|Revenue||$331 million (2014)|
Number of employees
Skrill (formerly Moneybookers) is an e-commerce business that allows payments and money transfers to be made through the Internet, with a focus on low-cost international money transfers. It is owned and operated by Skrill Limited, a UK-based company registered as a Money Service Business with Her Majesty's Revenue and Customs, regulated by the Financial Conduct Authority and licensed to operate within the European Union.
The moneybookers.com domain was first registered on 17 June 2001. On 27 July 2001, a company named Moneybookers Limited was incorporated in the United Kingdom. The moneybookers.com website along with the online payment system was launched on 1 April 2002. Almost 2 million new users registered with Moneybookers in the initial 1.5 years of operation.
In 2008, Moneybookers claimed to operate in 200 countries of the world and handle over 6 million accounts.
In February 2010, The Sunday Times ranked Moneybookers as the fastest growing private equity backed firm in the United Kingdom based on profits. In 2011, the company's customer base reached 25 million, including 120,000 merchant accounts, its payment gateway being integrated by a number of global online brands such as Facebook, Skype and eBay.
In March 2015, Optimal Payments, the parent company of the Skrill's rival Neteller, announced its official proposal for acquisition of Skrill Group for €1.1 billion. The deal is to be finalized in the third quarter of 2015 according to the parties.
Skrill allows for sending and receiving payments in 41 currencies, supporting major credit and debit cards. Restrictions include countries on US and/or EU economic sanctions list. Since 2008, US-based customers could not receive money from non-US Skrill accounts, and non-US customers could not upload funds or send payments using US payment cards or bank accounts. As of September 2013[update], United States was not included on the list of supported countries. As of March 2015[update], United States is included in the list.
Individual customers can open an account with Skrill through registering their email address and certain personal data on the company's website. Completing an optional identity verification process allows sending/receiving higher-value payments. Accounts are identified by one or more email addresses associated with them; consequently, payments from a Skrill account (other than withdrawals to own bank account or a payment card) are processed by "sending" money to an email address. An email address once assigned to a Skrill account can only be altered or removed with help of Skrill support, and there is a limit of four email addresses per account. An "inactivity fee" is charged on accounts that have not been used for more than 12 months.
Customers can purchase a Skrill-branded prepaid card, linked to the account, in one of the four currencies: USD, EUR, PLN, and GBP. High-turnover customers are offered premium membership called "Skrill VIP" that includes additional features, such as a security token, multi-currency accounts and the ability to earn loyalty points.
For businesses, Skrill offers a payment gateway, escrow payments as well as web SMS and fax sending services. Unlike some of its competitors, Skrill does not usually get involved in merchandise disputes, and the availability of credit card chargebacks may be limited.
The non-profit Better Business Bureau currently has Skrill USA with a "D-" rating as of April 2016, the result of 66 complaints closed with BBB in last 3 years. As of August 2016, CardPaymentOptions has rated Skrill with 1.8 out 5 based on numerous customer complaints, where in many instances the company withheld funds from customers and merchants.
In August 2010, Skrill blocked the account operated by WikiLeaks as a donation collection account, citing the organisation's addition to Australian blacklists and American watchlists. This decision came under fire by free speech activists worldwide as complicit with out-of-court pressure applied on WikiLeaks by the government of the United States, as WikiLeaks had not been directly charged with any crime.
In July 2013, Skrill became the sponsor of the Conference football league in the 2013/14 season. The initial three-year deal saw the league's three divisions known as the Skrill Premier, Skrill South and Skrill North. However, the deal was ended after less than one year.
- List of foreign exchange companies
- Paysafe Group
- Online payment system
- Digital wallet
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