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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.

Do you think Skrill delivers good value for the price?

Yes

Are you happy with Skrill's feature set?

Yes

Did Skrill live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of Skrill go as expected?

Yes

Would you buy Skrill again?

Yes

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.