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Skrill is an incredible tool when you know what you’re doing, but when first getting started, there are a lot of factors to keep in mind. From verification and registration to what you can and can’t do with particular accounts, it can get to be quite overwhelming rather quickly. As such, VolumeKings felt it was time to clarify a few things. Today, we’re talking about the limits placed on Skrill accounts; both verified and unverified.
Today’s Topics Include:
Now without further ado, let’s dive right into things, shall we?
Just as in real life, knowing your limits is one of the most important parts of being a responsible adult. Whether it's with drink, exercise, or money, knowing when to call it is crucial to ensuring you're safe and healthy. And your digital wallet is no different! Knowing what your account limits are on Skrill, why, and how to navigate them will serve you quite well.
This will be a quick and simple article, so let’s just get going!
Keep in mind that these limits are generalised and will vary from country to country. Depending on your local jurisdiction’s laws regarding digital wallets and the restrictions it places on financial institutions, you may have drastically larger (or smaller) limits placed upon your account.
Also bear in mind that there are numerous types of limits on a Skrill account ranging from deposit limits, transfer limits, P2P transfer limits and prepaid card limits all the way to international bank transfer limits using the Skrill Money Transfer Service.
It’s also worth noting that, depending on the actual type (VIP level) of account you have, your limits will also change. If you register your Skrill account through Volume Kings, you’ll get access to Fast Silver VIP Status, which will increase certain limits on your Skrill account along with temporarily reducing the transfer requirements for VIP Silver status by more than 50%.
Among the benefits on offer through Volume Kings are:
Firstly, we'll talk about the Skrill Money Transfer Service which is the facility they offer to transfer money from your Skrill to any international bank account.
Something you’ll notice quite quickly here is that the transaction limits for users in the EU/EEA, U.K., and the majority of Africa and Asia are drastically larger than those in some other countries such as the US.
While it can get overwhelming, there's a simple way to see exactly what your limits are in your country. Check out the Skrill Money Transfer Terms and Conditions and be sure to select your nation in the header above to ensure you’re getting information localised to where you are.
Note that the limits generally translate to your local currency, though some countries will have different limits due to local rules and regulations.
|Per-Transaction Limit||Daily Limit||Weekly Limit||Monthly Limit|
|£8,611 GBP||£12,917 GBP||£25,834 GBP||£25,834 GBP|
|€9,999 Euro||€14,999 Euro||€29,999 Euro||€29,999 Euro|
Skrill offers a multitude of deposit methods, all of which come with different deposit limits.
It would be beyond the scope of this article to list all the accompanying methods and fees due to the huge amount of variation by country and region.
However, there is one failsafe method to check the deposit limit of your chosen deposit method.
Simply go to Skrill and then proceed to the “Deposit” section of your Skrill account, shown in the photo below.
After selecting "Deposit" as shown above, you can select your desired payment method (card, bank transfer, etc.). Following this, you will see the limit displayed underneath your chosen payment method.
With an unverified Skrill account, what you can do is quite limited. While this is understandable (after all, you want your money safe, right?), it can get frustrating if you’re unaware of what specifically you can and can’t do with an unverified account. Let’s clarify things, shall we?
Once again, keep in mind that these limits will vary from country to country, and upon verification, the limits will increase to those listed in the previous section.
Now, with that said, the limits for unverified accounts are pretty small. Be sure to remember that these limits affect deposits, withdrawals, and transfers. In other words, these limits apply to the entirety of the money in your Skrill account.
You can have a total of £2,500 over three months in all of your accounts, and cannot transfer or withdraw any more beyond that limit within the given timeframe. Those who are members of the EU/EEA (European Union/European Economic Area) will have their limits translated to the equivalent rate in Euros. (I.e. £2,500 is currently equivalent to €2937.50 in July 2022)
Non-member countries of the EU/EEA with unverified accounts can have limits as low as $135 (converted to local currency, obviously). To see the limits placed upon your account (specific to your country), navigate to your "Deposit" tab as mentioned above, select a payment method, and you'll see the specific limit displayed for you.
Keep in mind that the limits also vary depending upon what form of payment you’re using. Both credit and debit cards can be used to fund your Skrill account, as can your bank account. While it will vary somewhat from one payment method to another, generally your primary limits are going to be placed on transfers into your Skrill account.
While this will vary somewhat depending on your country of residence, the general rule of thumb is that Skrill allows you to upload roughly 30,000 to your account per month - though this also varies by your VIP status and chosen payment method.
Over time, users are able to hold just about any amount of money in their Skrill account, though their ability to withdraw and/or use the funds will be affected most directly by their account limits detailed above.
All in all, the limits for Skrill seem much more confusing than they are. There are a few general guidelines to keep in mind if you want to use Skrill to its best ability:
Now, it’s time for a well-deserved snack - you earned it.
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