Skrill is a European based online platform for your payment solutions. It came into being in 2001 and eventually has made a name for itself. It operates from the United Kingdom and has its presence in some 200 countries and also deals in 40 currencies. You can use your Skrill account in Nigeria to do online shopping, transfer money to another Skrill account, receive payment, and similarly do a whole lot of other activities.
In this article, we will learn how to use Skrill in Nigeria to perform these tasks.
So, let’s explore the world of Skrill in detail below.
Types of Accounts
We will begin with the types of accounts Skrill in Nigeria has to offer.
We should know this before we know how to open Skrill account.
Because when we register, Skrill will ask about the type of account we want to open.
In general, there are two types of accounts that you can open with Skrill in Nigeria as well as anywhere else. These are;
A personal account opened in the name of an individual.
He or she will likely use it for conducting financial transactions.
The frequency of transactions is usually low in a personal account.
Additionally, you can do the following with your account;
You can transfer funds to anybody around the world.
To begin with, you can also receive money in your Skrill account from anyone around the world.
If you work as a freelancer, you can receive your payments through this platform.
With your Skrill account in Nigeria, you can buy anything online and pay through it.
All the important cryptocurrencies recognise and accept payments via Skrill.
You can use your Skrill account to trade in them.
If you are a company and by all means intend to use your Skrill account for business.
So then you should opt for a business account.
In fact, you can also use it if as an individual.
As it help you to likely send and receive and a lot of payments.
Usually, to open a business account, you will need to submit the following;
- Scanned copy of your identity card or driving license or passport. Anything that proves your bona fide citizenship.
- A copy of the utility bill that shows your residential address in the last three months.
How to open a Skrill account?
Now we will see how to open a Skrill account in Nigeria.
The process is simple and straightforward.
And we will break it for you in the following steps;
Go to their website:
First and foremost, you will have to visit Skrill’s homepage.
Additionally, Skrill also offers an app for mobile connectivity.
You can use either for registering your account.
Both the homepage and the app offers are easy to understand.
Also will help you in knowing how to use Skrill in Nigeria.
You can also refer to customer support on how to open a Skrill account.
Setting up an account:
On their homepage, hit the “Sign up” button.
You will be asked to choose your account type.
You can select one according to your needs.
We have discussed their types in detail above.
It is important to realise that you remain very careful when submitting the currency of your choice.
This is because it cannot be changed afterwards.
The choice of a currency depends on your usage and needs.
Choose whatever currency suits you and choose wisely.
The personal information is similar to what most internet-based companies would want from you at the time of registration.
For instance, this may include information like name, date of birth, address, city, country, email address, phone number, and also your language.
Skrill would use the email address and telephone for verification at a later stage.
How to verify Skrill account in Nigeria
Your Skrill account in Nigeria is subject to verification.
And now we will learn how to verify Skrill account in Nigeria.
Typically, the verification process consists of the following 4 steps;
- Verifying your email address
- Your credit/debit card
- Verifying your address
- And Verifying your bank account
Verifying your email address:
This verification works in the same fashion other companies use email verification.
Skrill would send you a confirmation email at your given email address.
Consequently, when you open it, you will see a link.
And also you will have to click on it to verify your email address, and that’s about it.
Verifying your credit/debit card:
First of all, you will have to ensure that the name on your credit card matches the name you have provided to Skrill.
It will charge your card with a small verification fee, usually US$2.00.
If your credit card gets successfully charged your verification is complete, and notably, you will also get back the verification fee.
Verifying your address:
Skrill will send you a letter at your given address.
The letter will contain a 6 digits code; hence you will have to log into your account at Skrill and go to the verification page and enter this code.
And once it is done, your physical address is verified.
Verifying your bank account:
Your bank account can be check, in two ways.
You either send money to Skrill using your bank account or withdraw money from your account.
Further, in case of withdrawal, you will need your bank’s swift code which you can get from your bank.
Sometimes there may be some trouble in verifying your account via withdrawal.
In that case, Skrill will ask for your scanned copy of your bank statement or the screenshot of your bank statement.
It must show the transaction of withdrawal using Skrill.
Funding your Skrill account in Nigeria:
You can fund your Skrill account using the card linked with your Skrill account.
For that, go to their homepage, log in, and enter the ‘deposit’ section.
There you will see the options for depositing funds.
Formerly, as a funding option, bank wire transfer was also available, but it is no longer the case now.
They will ask for a fee, which will be 1.9% of the total deposit.
The amount will be instantly deposited to your Skrill account.
It’s as simple as that.
Therefore Skrill works with all the major international credit and debit cards like Visa, Mastercard, JCB, Diners, Maestro, Paysafecard, AMEX, Cartasi, Carte Bleue, Laser, etc.
How to receive money into your Skrill account in Nigeria?
Receiving money is very simple and easy.
You need your email address registered with Skrill.
You will give that email address to the person sending you the money,.
And also he will make the transfer using that email.
The money will be added to your Skrill account instantaneously and will alert you of it.
The amount, transaction Id, and other relevant details will appear in the email and the “Transactions history”.
If the sender of the money or his bank or third-party service provider requests to reverse the transaction.
Even more it can be reversed.
If you receive a notification from Skrill regarding the arrival of payment on an email account that is not registered with Skrill.
Then that amount is not credited to your account unless you follow the instructions given in that email for crediting that payment to your account.
The receipt of payments is subject to certain fees, and currency conversion rates.
It all depends on the type of payment you receive, and the nature of the Skrill account that you have.
How to send money using Skrill in Nigeria?
The procedure for sending money is equally straightforward.
First, you have to log into your account and then click on the option of “Skrill money transfer”.
Enter the amount you want to send and where to send it.
You can send it to another Skrill account or a regular bank account.
The person receiving the money does not have to be a Skrill user should you choose to send the money to the bank account.
You will have to select the payment method that you choose at the time of registration.
Or also that is available in the country of your residence or where you want to send the money.
You cannot choose any other methods.
Using the third-party payment method:
Skrill may use the services of a third party to transfer money if the option of direct transfer to the recipient is not available.
As a result, Skrill will not be responsible for your payment once they transfer it to the third party.
Now it is the responsibility of the third party to transfer the money to the recipient.
Countries served by Skrill:
You must refer to Skrill’s website or their customer support to update yourself on the country you intend to send payment to.
It is better to have this information beforehand to avoid any inconvenience.
You can find the details of your transaction in the “Transaction history”.
Withdrawing money from your Skrill account in Nigeria
Withdrawal is quick and easy too. After logging in, click to withdraw.
Select the account where you want to transfer the amount.
If you have not added an account, you can add now.
Enter the amount to withdraw and follow the on-screen instructions.
Your withdrawal is done.
You will be charged a fee for withdrawal.
It is 1.75% of the withdrawal with the maximum being GBP10.00.
You will also have to pay 2.99% for transfers between currencies like USD, EUR, GBP, CAD, and PLN currencies.
The rate will be 3.99% for transfers involving any other currencies.
Your withdrawal is set to certain limits.
You can view your withdrawal limits anytime on your profile.
Before making a withdrawal request, you must make sure that your request falls within your set limits; otherwise, your request will be reject.
While making the withdrawal request, carefully check the account details where you are transferring the funds.
Skrill will not be responsible if the account details are incorrect.
How to use Skrill in Nigeria?
There is wide acceptance of Skrill in Nigeria.
It gained popularity as an alternative to PayPal.
It offers the same level of service, and it is pretty affordable too.
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You can use Skrill in the same way as you would use it in any other country.
First and foremost, you should know how to open a Skrill account.
Then You have to set up an account, deposit funds in it, and start using it.
It’s simple as that.
Increasing your transaction limit:
There is no minimum transfer amount in Skrill.
The maximum transfer limit varies from US$135-25,000 a month.
Therefore, if you have used up this limit and now want to increase your limit, you will have to write to Skrill.
They will consider your request based on your transaction history and your overall conduct.
If they are satisfied, they might grant you the VIP status.
The VIP status does not have any limit on the outgoing transactions.
Fees charged by Skrill in Nigeria:
Skrill charges very small fees.
The details of its charges on deposits, withdrawals and receipts are given below;
When depositing using the following, Skrill charges 2.5% of the deposited amount.
- Visa cards
- Mastercard cards
- American Express cards
- JCB cards
- Diners Club International cards
- International payment services are like, for example, Fast bank transfer, International bank transfer, Bitcoin, Neteller, Klarna, Trustly, Paysafecash, Rapid Transfer.
Skrill charges the following on withdrawals;
- Bank transfers: Free of cost
- Online shopping: Free of cost
- Sending money around the world: 1.45% of the amount with US$0.50 at least.
- In transactions involving currency conversion, Skrill adds 3.99% to the average daily wholesale interbank rate.
Skrill does not charge any commission on receiving money.
Blocking of Skrill account:
If you are unable to access your Skrill account contact customer support immediately.
You could be a victim of a scam, or the company blocked your account due to some valid reason.
In the latter case, the company will inform you why they blocked your account.
And also you will have to remove their objections.
If it is not the case and you are a victim of some hacking, then efforts will be made to reclaim your account.
Skrill has a layered security system to protect its customers.
If it is found that you, as a customer, took reasonable security measures and still got hacked, then the company will likely compensate you.
Closure of your Skrill account:
Just like you should know how to open a Skrill account, you must also know how to close it.
You can close your Skrill account any time you like by contacting the customer support.
They will ask you to withdraw any balance that you might have in a specific period.
If you fail to do so after the expiry of that period, you can still withdraw that amount by calling the customer support.
And also agreeing on some other method of withdrawal.
Your account will not be accessible after the expiry of that period.
Termination & suspension by Skrill:
Skrill can terminate their account with you by giving you a notice two months before termination.
They can terminate or suspend the account at any time, without giving notice.
So if they have sufficient reason to believe that you have indulged in any illegal, fraudulent or any financially compromising activity.
Skrill offers almost the same services regarding deposit, withdrawal, or transfer that a traditional bank does.
Then what is the need of having your account with Skrill?
This is a valid question.
There are, however, certain scenarios where a Skrill account holder will be in an advantageous position than a non-skill-account-holder.
We list some of these scenarios below;
- If you live in a country with tight capital movements, especially foreign capital or where International bank transfers are subject to strict rules and are expensive.
- Then a Skrill account would be helpful.
- Transfer of money is extremely quick and simple between Skrill account holders. This could be especially helpful if one of them is abroad and is in dire need of money.
- You can maintain your Skrill account in a variety of foreign currencies something your local bank may not offer.
- If your need to remit funds regularly to your friends and family living abroad.
- If a trader of cryptocurrency needs to deposit and withdraw money with high frequency.
- Skrill is a much safer option than a credit card if you want to make online purchases. Your credit card information will remain off-limits to the online merchant. Only the amount in your Skrill account will be exposed.
Advantages of using Skrill:
- It offers instant transfer of money between two Skrill account holders.
- There are no fees on transactions of two Skrill account holders.
- Transfers to some banks are also without any fee.
- Receiving money is also free from most of the vendors.
How safe is Skrill?
Skrill is owned by a company called Paysafe Group.
It is based in London and has its presence in Europe and the US.
It started as Moneybookers in 2001 and rebranded itself as Skrill in 2010.
So, being based in London means it is governed and monitored by the regulations of the British Financial Conduct Authority (FCA).
It is the premier British regulatory body for financial services.
In any event, it is also the strictest and rules-bound entity around.
Even more, this makes dealing with Skrill safe and trustworthy.
A noteworthy aspect of Skrill is the company is obliged to keep its clients’ money in separate company accounts.
Additionally, it must also keep enough balance with itself to pay all the customers at the same time.
How to open a Skrill account in Nigeria?
You can do it online by going to their homepage or do it on your mobile by downloading their app.
Can I receive money through Skrill in Nigeria?
Yes, you can receive money using Skrill in Nigeria. It works fine in the country.
Can I withdraw money from Skrill in Nigeria?
Yes, you can. All the services of Skrill are available for use in Nigeria, and that includes withdrawing.
Does the company offer tutorials on how to use Skrill account in Nigeria?
Skrill’s homepage is fairly informative and instructive. You can consult it to find answers to your questions. You can also contact the customer support for further assistance.
Is Skrill superior to PayPal?
This is purely subjective and depends on person to person and specific usage.
How to fund Skrill account in Nigeria?
You can fund your Skrill account via bank wire transfer and credit cards.
How much should I withdraw from Skrill?
Keeping in mind the fees; it is a good idea to withdraw at least US$100.
Can you reverse a transaction on Skrill?
No, you cannot. Once the transaction has taken place, it is not possible to reverse or cancel it.
Can I operate two Skrill accounts?
No, unless you are a Skrill VIP customer. Still, it is not advisable. You can, however, add more than one email address, credit cards, and bank accounts with your Skrill account.
Is funding my Skrill account in Nigeria going to invite legal actions?
Skrill is a legal entity and as such, recognizes and works within the legal parameters of a country. Funding your Skrill account will not invite any legal issues, and it works within the confines of the local laws.
Where to buy Skrill in Nigeria?
Skrill is available across the country. You can use it anywhere in Nigeria and send and receive money in USD or Euro and pay in local currency.
Why my transactions fail on Skrill?
There can be many reasons; your account does not have sufficient funds, the deposit did not transfer, your account was not properly creat, etc. You will have to consult customer support to ascertain the precise reason.
What are the minimum and maximum withdrawal limit on Skrill?
So the minimum withdrawal limit is US$10.00, and the maximum is US$10,000.
Skrill account in Nigeria conclusion:
On the whole, we can say that Skrill is a safe, efficient, and quick mode of receiving and sending money electronically.
Also, it is reliable and has become quite popular.
Overall, it is a good addition in the Nigerian market and for the most part, would augur well for the growth of this sector.