Money transfer services: Skrill vs. Western Union (Digital Service)
Quick Verdict
Western Union is better for broad geographic coverage and cash pickups, while Skrill is suitable for faster digital transfers and Skrill-to-Skrill payments.
- Western Union has a wider geographic reach and supports more currencies.
- Skrill offers faster Skrill-to-Skrill transfers and a user-friendly mobile wallet.
- Both services have fees and exchange rate markups, but the fee structures differ significantly.
- Western Union has a vast agent network for cash pickups, while Skrill focuses on digital transfers.
Key features – Side-by-Side
| Attribute | Skrill | Western Union (Digital Service) |
|---|---|---|
| Transfer Speed (Estimated Delivery Time) | Delivery times can range from a few minutes to two working days. Skrill-to-Skrill transfers are instant. Debit and credit card payments are typically the quickest, arriving the same day. Bank transfers can take 2-5 days. | Money in Minutes service is available for collection almost instantly in many cases if you pay with card or cash. Mobile money payments typically arrive in minutes. Next-day service for cash collection will be available the next business day. Direct to bank payments take 2-5 days on average. Transfers can be completed in minutes depending on the service. |
| Transfer Fees (Including Any Hidden Charges) | Skrill doesn't charge transfer fees when you pay via bank transfer. However, they do charge a foreign exchange fee of up to 3.99%. There is a 1.45% fee for sending money to another Skrill account. Inactivity fee of 1 EUR per month after 12 months of no login or transaction. | Fees vary depending on the destination, amount, payment method, and how the recipient receives the money. Western Union's fees can be high, especially for quick transfers or cash pickups. Fees generally start low for small transfers or online transactions. For larger amounts, fees can increase. Expect to pay around $0.65 to $3.76 per $100 sent when sending bank-to-bank. Western Union profits from exchange rate margins, which can act as a hidden fee. Using a credit card often incurs a higher upfront fee and may be treated as a cash advance by your card issuer, triggering additional charges and a high cash advance APR. |
| Available Transfer Methods | Bank transfer, Debit/credit card (Visa, Mastercard, American Express), Mobile wallet, Email address, Klarna, PaysafeCash, Rapid Transfer, Trustly, Cash pickup | Online via website or mobile app, In-person at a Western Union agent location, Bank transfer, Debit card, Credit card, Cash pickup, Mobile wallet, Pay in-store, Phone. |
| Supported Currencies | Over 40 currencies | Supports transfers in nearly 130 currencies. |
| Geographic Reach (Countries Supported) | Available in most countries across Europe, the Americas, Asia Pacific, the Middle East, and Africa. Offers services in 131 countries. | Available in over 200 countries and territories. Western Union has a vast global retail network of over 550,000 agent locations. wu.com is live in 40 countries. |
| Customer Support Availability | Skrill provides 24/7 customer support. | Responsive customer support team is available around the clock to assist users with any queries or concerns. Customer service seems to be hit or miss. |
Overall Comparison
Reach: WU wins; Speed: Skrill (Skrill-to-Skrill); Fees: Both have markups; Support: Both 24/7
Pros and Cons
Skrill
Pros:
- Fast Skrill-to-Skrill transfers
- User-friendly mobile wallet
- 24/7 customer support
- Robust security measures
- Loyalty program (Knect)
Cons:
- Foreign exchange fee of up to 3.99%
- 1.45% fee for sending money to another Skrill account
- Inactivity fee of 1 EUR per month after 12 months of no login or transaction
- Transfer limits based on account verification level
- Exchange rate margin higher than average
Western Union (Digital Service)
Pros:
- Available in over 200 countries and territories
- Vast global retail network of over 550,000 agent locations
- Generally user-friendly interface and real-time tracking
- Mobile app streamlines the sending process efficiently
- Responsive customer support team is available around the clock
- Supports transfers in nearly 130 currencies
- Regulated worldwide and complies with AML and CTF standards
- Uses standard SSL encryption to protect data during online transfers
- Offers transaction monitoring and fraud detection
Cons:
- Fees can be high, especially for quick transfers or cash pickups
- Exchange rates often include a markup
- Customer service seems to be hit or miss
- Slow response and poor refund handling noted
- Android app prone to glitches and slow navigation
User Experiences and Feedback
Skrill
What Users Love
- Easy to use mobile app
- Fast transfers (Skrill to Skrill)
Common Complaints
- Unexpected fees from bank
- Exchange rates higher than average
Value Perception
- No value feedback reported.
Western Union (Digital Service)
What Users Love
- Money in Minutes service is available for collection almost instantly in many cases.
- Mobile money payment is completed in minutes.
- Generally user-friendly interface and real-time tracking.
- The app streamlines the entire sending process efficiently.
- Western Union app excels, with a slick mobile experience offering plenty of tools to ensure swift and seamless transfers.
Common Complaints
- Western Union's fees can be high, especially for quick transfers or cash pickups.
- Exchange rates often include a markup.
- Using a credit card often incurs a higher upfront fee and may be treated as a cash advance by your card issuer, triggering additional charges and a high cash advance APR.
- Customer service seems to be hit or miss.
- Slow response and poor refund handling noted.
Value Perception
- Western Union's exchange rates are marginally better compared to other major banks.
User Recommendations
- The app is convenient—it's simple to use, and you can make transfers on the go.