Skrill, the virtual wallet for money transfers and payments, has become pretty popular in the UK. If you’re a fan of app-based money management, you might be tempted to give it a try.
But is Skrill safe to use? It’s always smart to check out security before using any online money services. Read on to find out everything you need to know about safety and security with Skrill.
Also, check out the Wise account from the money services provider Wise if you need to send money overseas for low, transparent fees and mid-market exchange rates.
Learn more about the Wise account 💰
Who owns Skrill and is it a legitimate company?
Skrill is owned by Paysafe, which is a multinational online payments company based in the UK. Paysafe has been around since 1996 and its shares are traded on the New York Stock Exchange (NYSE).
So is Skrill legit? Absolutely. Not only does it have a well-known parent company, but Skrill itself is authorised and regulated by the Financial Conduct Authority (FCA) here in the UK.¹ It also operates globally, and is regulated in the countries it operates in.
Is Skrill available in the UK?
Yes, Skrill is available to UK customers, although it does also operate globally. In fact, the company has its headquarters in London.
All Skrill services are available to personal and business customers in the UK, including accounts, transfers, cryptocurrency services and the Skrill prepaid debit card.
| 📚 Read more: 12 alternatives to Skrill in the UK |
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Is Skrill safe to use in the UK?
Yes, Skrill is safe to use, although you should always take steps to protect yourself when sending or managing your money online.
Skrill has a range of sophisticated security features designed to keep you and your money safe. This includes:²
- Anti-fraud monitoring and blocking suspicious transactions
- Two-factor authentication protecting accounts
- Logins and transactions secured using Secure Socket Layer (SSL) technology with high-security 128-bit encryption, certified by VeriSign.
Is it safe to send money through Skrill?
It is safe to send money with Skrill, but it's important to be vigilant against potential fraud and scams.
Here are some common-sense tips to follow, courtesy of Skrill’s fraud awareness team:
- Set a strong, unique password and never share your login credentials with anyone.
- Always double-check who you’re sending money to, and be extra cautious if it’s someone you don’t know.
- Use antivirus and firewall software to protect your devices, and make sure to update it regularly.
- Resist pressure to send a payment immediately - it could be a scam.
- Always remember that if something seems too good to be true, it probably is. A ridiculously good offer or super low price could be a red flag for a scam.
And that’s it - everything you need to know about safety and security with Skrill. You should now be able to use the platform with confidence.
And if you’re looking for a safe, alternative way to send money online, consider signing up for a Wise account.
Sources used:
Sources last checked on date: 10-May-2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information. This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
