Money transfer services: Remitly vs. Skrill
Quick Verdict
Both Remitly and Skrill offer robust money transfer services with different strengths and weaknesses, making the best choice dependent on individual needs and priorities.
- Remitly offers fast express transfers and a wide range of receiving options, while Skrill provides fast transfers to other Skrill accounts and a user-friendly mobile wallet.
- Remitly's fees vary and can be high for express options, while Skrill has fees for network transfers, credit card transfers, withdrawals, and currency conversions.
Key features – Side-by-Side
| Attribute | Remitly | Skrill |
|---|---|---|
| Transfer Speed | Express (minutes) and Economy (3-5 business days) | Instant to Skrill accounts, 2-5 business days for bank transfers |
| Transfer Fees | Vary based on destination, amount, payment method, and speed | 2.99% for Skrill network, up to 4.99% for credit cards, withdrawal fees up to 7.5% |
| Exchange Rates | Adds a margin to the exchange rate | Adds a fee of 3.99% for currency conversions, 4.99% for international transfers |
| Payment Options | Debit card, Credit card, Bank account transfer, Mobile wallets | Bank transfer, Fast bank transfer, Debit/Credit cards, Paysafecard, Trustly, Rapid Transfer, Skrill prepaid Mastercard |
| Receiving Options | Bank deposit, Cash pickup, Mobile wallet, Home delivery (select countries) | Bank account, Mobile wallet, Mobile number, Email, Crypto from other customers |
| Customer Support Availability | 24/7 via phone and live chat | 24/7 dedicated customer support team |
| Mobile App Functionality | Send and track transfers | Deposit, send, withdraw, manage card, 2FA, fingerprint login |
| Security Features | Regulated, encryption, data protection, 2FA, fraud detection, SSL | SSL, 2FA, anti-fraud monitoring, KYC, account locking, email confirmations |
Overall Comparison
Speed: Remitly Express vs Skrill Instant; Fees: Skrill has more fee types; Support: Both 24/7
Pros and Cons
Remitly
Pros:
- Fast express transfers
- Wide range of receiving options
- Extensive supported countries
- 24/7 customer support
- User-friendly mobile app
- Strong security features
Cons:
- Transfer fees vary and can be high for express options
- Exchange rates include a margin
- Transaction limits exist and vary
- Credit card use may incur extra fees
Skrill
Pros:
- Fast transfers to other Skrill accounts
- 24/7 customer support
- User-friendly mobile app
- Robust security features
Cons:
- Transfer fees for Skrill network transfers (2.99%)
- Credit card transfer fees up to 4.99% internationally
- Withdrawal fees up to 7.5%
- Currency conversion fees (3.99% mark-up)
- International transfer mark-up of 4.99%
User Experiences and Feedback
Remitly
What Users Love
- Fast transfer speeds (Express)
- User-friendly app
Common Complaints
- Fees and exchange rate markups can affect the total cost
- Hidden fees
Value Perception
- No value feedback reported.
Skrill
What Users Love
- Fast transfers to other Skrill accounts
- User-friendly mobile app
Common Complaints
- High fees for certain types of transfers
- Currency conversion fees
Value Perception
- No value feedback reported.
User Recommendations
- Skrill's mobile wallet is known to be fast, easy to use, and flexible.