Good efficient way of sending money abroad with a competitive exchange rate
May 12, 2022

Good efficient way of sending money abroad with a competitive exchange rate

Saurav Chakraborty | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Skrill

I have used Skrill for sending money abroad and have found it to be very efficient for money transactions overseas. It is safe, secured, effective, and offers a very competitive exchange rate. The time it takes for processing and deposits the money is not too bad either. I have mostly used bank-to-bank transfers and have used debit cards to fund the transaction a few times.
  • Safe and secured transactions
  • Zero transaction fee with the bank to bank transfer or funds fueled by debit card transfer even for smaller amounts.
  • Competitive exchange rate
  • The exchange rate could be more competitive typically for bigger transactions.
  • The processing time is really good but it can improve. Granted that it depends on the bank sending the money and the bank accepting the money, I know at least one portal that sends money faster.
  • There is a limit of $3000 per transaction if you are using ACH instant bank deposit. Sometimes I have to make more than one transaction if the transaction amount is more than that since I prefer bank to bank transfer. The daily limit of $10,000 for bank to bank transfers is not a problem though.
  • Safe and secured transactions
  • Competitive transfer rate
  • Good customer support
  • Makes foreign transactions efficient and easy.
  • Makes it possible to complete monetary transactions overseas with no transaction fee.
  • Makes it possible to complete monetary transactions overseas with a competitive exchange rate.
Skrill does an excellent job for the completion of monetary transactions abroad and it fares very well if I have to send a moderate amount of money. It offers zero transfer fees and a competitive exchange rate with ACH bank to bank transfers and fund transfers funded by debit card transactions.

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Skrill is my preferred way of doing money transactions abroad typically when I need a safe secured and efficient way of sending money overseas and the amount is low. Most other portals tend to charge a transfer fee for lower amounts but Skrill does not charge a transaction fee when I use the ACH Transfer even for lower amounts. For personal use, I have used the debit card to fuel transactions and it allows you the same facility as the debit card. If I need to complete the transaction within a day and want the money to be available in the receiving account overseas the same day, I prefer another portal that has the option of express service that Skrill does not offer.