Following Neteller, Skrill also announced that it is changing Terms of use, thus affecting money transfers, account administration, and cryptocurrency service. In this article, we take you step-by-step through the changes announced by Skrill.  

Skrill made changes to four documents that are governing the relationship between Skrill and Skrill users. Here are the links to updated versions, which will come into effect on January 15, 2020:

What is new in Skrill's updated terms? 

ADMINISTRATION FEES FOR SKRILL ACCOUNTS 

Skrill accounts will face stricter measures and higher administration fees for providing untruthful information, upload and withdrawal fees when the account or payment method is not in your name, Cash upload, prohibited transaction, and costs for reversal of incorrect transactions. 

 

Fee for provision of inaccurate or untruthful information or lack of cooperation

up to 150 EUR

Chargeback fee

25 EUR per chargeback

Fee for upload from and/or withdrawal to a payment method not in your name

up to 10 EUR per upload and/or withdrawal

Cash upload fee

10 EUR per upload

Prohibited transaction fee

up to 150 EUR per transaction

Fee for reversal of an incorrect transaction

up to 25 EUR per reversal attempt

 

Source: Skrill

 

Skrill users will be subject to financial penalties if breaching the agreement with Skrill, such as providing false information, or just making a simple mistake when entering account details.  

THIRD-PARTY PROVIDERS 

  • If you gave consent and your Skrill account information to a Third Party Provider, Skrill would assume that you consent to access your account is granted as frequently as the third party provider requests it. 

SKRILL RAPID TRANSFER 

  • Skrill has updated its terms to explain in detail how your personal data is used in the provision of Rapid Transfer service. 

SKRILL CRYPTOCURRENCY SERVICE

  • Skrill introduced a new feature to the Skrill Cryptocurrency Service. After November 15, 2019, you can use your Crypto Account instead of the e-money balance in your Skrill Account to buy crypto.
  • For transactions under 100 EUR, Skrill Cryptocurrency Service introduced a flat fee. 

SKRILL MONEY TRANSFER 

From January 15, 2020, Skrill accounts will be charged with: 

  • Upload funds fee for countries outside the European Economic Area will be 2.5%
  • Domestic Skrill Money Transfer transactions will be 2%, non-domestic transfer remain free of charge 
  • A currency conversion fee of 3.99% for all Skrill Money Transfer transactions.

What can Skrill affiliates do to surpass these new fees? 

Administration fees cannot be avoided after January 15, 2020. Skrill is implementing stricter measures, and it intends to charge for all additional administrative procedures. Make sure your account information is correct and share the new fee scheme with your clients. 

  • Skrill VIP status can help reduce fees and costs. Paynura can help affiliates and their clients with the optimal solution and customer support.

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