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Last Updated: May 6, 2019

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PayPal vs. Skrill - Comparing Online Casino Banking Methods


Online banking speak is as hot a topic nowadays as it was back in the late 90s, when the first banks started offering digital accounts, and later on, online transactions. Today, people owe many of their everyday commodities to this functionality, and they have some of the leading financial services to thank for this convenience.

PayPal and Skrill...

... are arguably among the top leaders in their industry, especially when it comes to the online payment facilitation service. Online gambling is just one of the numerous businesses to grow out thanks to this modern convenience, with these two services have made some of the greatest contribution to this cause.

PayPal & Skrill – Short Overview

Before getting into the nitty-gritty details of the services, their similarities and differences, it’s useful to learn something about them in general.

The PayPal company, which first started off as Confinity back in 1998...

... went on to rebrand their service and ultimately grow into one of the top e-commerce platforms of modern day. It provides all kinds of online funds storage, transaction and other financial services through a safe and completely secured gateway, ranking them among the top choices in terms of reliability, security, and accessibility.

Skrill, much like the remaining online payment processing services...

... originated from the PayPal model, which was completely revolutionary at the time. Each competitor on the market would afterwards add their personal touch to the whole, aiming to distinguish their product offering from the rest. Skrill, initially known as Moneybookers, launched in 2001, managing to stay ahead of the curve in all key areas of payment processing.

Payment Methods Comparation

Payment method name PayPal Skrill
Available accounts 2 accounts (1 personal + 1 business account) 1 account (1;2;3;4 different currency accounts)
One time signup bonus n/a 15 USD Signup Bonus
Account management fees free free
Account unused free unused for 12 months: 1 EUR/month
Exchange fees (FX) 2.5% 3.99% (3.79%; 2.89%; 2.59%; 1.99%)
p2p Money transfer
Send money p2p free 1.9%, max 20 EUR (1%, max 10 EUR for bronze; 1%, max 2 EUR for above)
Receive money p2p Free for p2p in same country and currency by using bank or PayPal balance only.By transferring money internationally, with different currencies or by using a credit card the fee is between2.9% + 0.30 USD (from US to US account) and7.4% + 0.50 USD (from US to Brazil account)–> PayPal User Agreement #Receive Money free
Deposit fees
Bank transfer free free
Instant bank transfer free free
Credit card between 2.90% + 0.30 USD and 7.40% + 0.50 USD 1.90% (1.25%; free; free; free)
Withdraw fees
Bank transfer free 3.95 EUR (3.95; free; free; free)
Cheque 1.50 USD 3.50 EUR
Prepaid card at the ATM 1.95 USD 1.75% (1.75%; free; free; free)
To merchant site free (only available at few online gambling providers) free
PrePaid Card PayPal PrePaid MasterCard Skrill PrePaid MasterCard
Requirements to order customer for 60+ days with premier or business account n/a
Fee to order free 10 EUR (free)
Membership 4.95 USD/month n/a
Costs for cash withdrawals at the ATM 1.00 USD + 2.5% FX fees, 1% + 2.5% FX fees outside the US n/a
ATM transaction decline fee 1.00 USD n/a
Costs at points of sale free free
Stop payment fee for preauthorized 10 USD n/a
Online bank statement free free
New PIN free free
New prepaid card 5.95 USD 10 EUR (free)
Cash withdrawal at ATM limits/24h 940 USD 250 EUR (750;1,500; 3,000; 5,000)
Points of sale limits/24h 5,000 USD 1,000 EUR (3,000; 3,000; 5,000; 5,000)
Delivery time 2-4 weeks 5-10 business days
Available currencies EUR, USD EUR, USD, GBP, PLN
Validation 3 years 3 years
Cashback and promotions
Promotions n/a up to 100 EUR Bonus by becoming Skrill VIP
Additional bonus-programs none n/a
Two Factor Authentication PayPal Security Key Skrill Two-step Authentication
Fee to order 29.95 USD free app
Delivery time n/a right after app installation is completed
Money-back guarantee in case of fraud yes for all Skrill customers using the 2-step-authentication
Link to Terms & Conditions


Individuals can choose to hold accounts with one or both of these payment services providers, depending on their needs and preferences. In this regard, there are some key features which distinguish the PayPal accounts experience from the one offered by the Skrill payment gateway.



Paypal, over the years, has managed to develop and provide its potential users with a choice of accounts. Anyone interested in performing their online funds management and transfer through this service can hold a personal, as well as a business account.

Users won’t have to worry about...

... not being active on either of the two, considering that there is no fee charged for a dormant account. After all, PayPal is aware that no one wants to see a portion of their funds being deducted even when they aren’t using the service, online casino players included.

Speaking of fee charges...

... PayPal users are additionally charged 2.5% on each currency exchange they perform. Luckily for them, up to 25 different currencies are available in the service – check the list of options in order to find one suitable to your needs.


There is only one account type available through the Skrill service, but it makes up for it by allowing you to hold up to 4 different ones, each with the currency you need. And do you have currencies to choose from – Skrill users are provided a total of 41 currencies from governments worldwide, nearly double than its competitor, PayPal.

Currency exchange fees, however...

... are also nearly double with Skrill – 3.99% to be exact. This can vary depending on different factors such as country, e-commerce platform and more, from 1.99%, through 2.59% and 2.89%, up to 3.79% on specific occasions.

Online casino players opting for this payment method...

... should bear in mind that inactivity is also charged after 12 months, at a rate of 1 EUR per month. Nevertheless, top casino providers offer excellent player incentives to motivate them to stay with this payment method, no deposit signup bonuses included.

You can open a Skrill account here.

Payments, Deposits & Withdrawals

While both of these services have moved on to include a range of additional financial services to their portfolio, sending and receiving funds have always been their key operations. There are key differences between the two, and it could serve online casino players and users alike when making up their minds about which to choose.


Due to being in the industry for a longer period of time, there is a higher likelihood that people are already familiar with the payment process through PayPal’s service. However, while familiarity does make for a smoother experience, what is even better is that all outgoing p2p transactions you would like to perform are completely free of charge.

On the other hand, when it comes to receiving money to your PayPal account...

... your free experience is limited to transactions within the same country, in the same currency, and only those made from a bank or PayPal balance. Otherwise, users are regularly subjected to the currency exchange fee mentioned above, as well as the particular fees for international transfers.

The only time you will be charged...

... for making deposits to your PayPal account is from a credit card. The fees range between 2.90% + 0.30 USD up to 7.40% + 0.50USD. Making withdrawals from your PayPal account is also subject to some fees when done through a cheque or prepaid ATM card – 1.50USD and 1.95USD respectively.

There are no fees for the same transaction towards e-merchants, especially in the US, considering it is the service’s native territory. Nevertheless, US online casinos are deprived of this banking option on their sites, just like most other operators catering to dubious jurisdictions without clear legislation on interactive gambling.



The team behind Skrill has taken the completely opposite route when catering to their user pool.

Receiving p2p payments... completely free for Skrill users, while sending funds is subject to a specific fee rate depending on your user rank. Either way, the charge is capped at 20EUR, or even lower for bronze level users – max 10EUR, and 2EUR for higher ranks.

Bear in mind...

... that should you choose to send money to a bank account, you will not be subject to any fees. As it stands, the contrasting differences between the two services actually manage to coincide on more than one point; it is best to go with the one that fits your needs the most, even though both offer a high-quality service overall.

While there are fees for credit cards when depositing to Skrill as well, the charges are significantly lower – 1.90%. Nevertheless, all withdrawing transactions from Skrill via bank transfer, cheque and prepaid card at an ATM are subject to a charge – 3.95EUR, 3.50EUR or 1.75% of the withdrawn amount, respectively.

Physical Card Availability

These online payment processing services are specifically invented to provide users with a suitable alternative to the standard credit card. Still, its convenience and accessibility are undeniable, and practically rooted in people’s habits, which is why the top online services offer their own version of this financial product. Practically, it means that the online payment processing company partners with a suitable credit and debit card brand, developing a card with specific features.

PayPal Prepaid MasterCard

The PayPal prepaid card...

... is enabled through MasterCard, as is Skrills’. This feature is handy for users in general, and is available for anyone holding a premium or a business account for 60+ days. There are no fees for an application process, only a monthly membership charge of 4.95USD.

Physical Card Availability

Other fees apply to the ways you use the card – successful ATM withdrawals, for one, will see users charged 1.00USD + 2.5% FX fees in the US, or 1% + 2.5% FX fees outside the US, while an ATM transaction decline comes with a 1.00USD charge.

As for limits using this card...

... bear in mind that it is valid for 3 years, and can be used for transactions up to 940USD at ATMs a day, that is 5,000USD at points of sale per day. With EUR and USD being the only two currencies currently available on the prepaid card, it is still rather handy for the greater part of the user pool, particularly players at top international online casinos where such currencies are largely welcomed.

Skrill Prepaid MasterCard

Less information is available for the Skrill prepaid card...

... issued in collaboration with MasterCard.

Another point in which it coincides with the ‘plastic’ solution explained above is the lack of charges for a new PIN, an online bank statement or at POSs. Moreover, it takes less to get the Skrill prepaid card, with wait times of 5-10 business days, as opposed to 2-4 weeks when it comes to PayPal’s MasterCard prepaid card.

Limits could be said to be more restrictive...

... although this does largely depend on the player’s location and country of residence. Thus, daily ATM cashouts are limited to 250EUR in general, although they go up to 750/1,500/3,000/5,000EUR. The same is true of POS spending limits, with the general amount set at €1,000, although it can go up to €3,000 and €5,000 depending on the merchant and their country.

Card validation is the same as PayPal, but Skrill’s prepaid product additionally includes GBP and PLN to the EUR and USD as available currencies, taking the lead by a hair.

User Benefits

Online casino players commonly have a range of benefits, bonuses and promotions to choose from at the top PayPal and Skrill online casino sites. Some even go as far as to include dedicated offers in their selection, providing incentive for players that are yet to choose their casino banking method. The payment services additionally compete for the favour of their target markets, and continuously include all kinds of benefits to boost user interest even before they reach the casino sites or any other e-merchant platform.


With PayPal, there is no direct membership program or VIP levels that would see users slowly reaching the top tiers. Service is top-notch for everyone from the complete novice, to the ripened PayPal user.

User Benefits

However, just to keep their company in the loop when it comes to this benefits program, they have set up a user point scheme for their MasterCard prepaid card. It allows users to collect points for their online purchases, and use them adequately in specific cashbacks, discounts, gift cards, prizes or vouchers for anything from travel bookings to household electronics.


Skrill offers a specific VIP program...

... for all users that spend up to a certain amount of funds within a year’s quarter. Rankings distinguish between Bronze, Silver, Gold and Diamond – for instance, you would need to spend €6,000 or more to qualify as a Bronze-tiered user, or €15,000 for Silver. Getting up to €45,000 in funds paid through your Skrill account will land you the Golden VIP rank, while the Diamond level is available for spending double the amount.

While it may seem like a lot of money, it is accounted over the course of three months at a time, and will see users benefitting from dedicated account management, increased security, better limits and lower restrictions, as well as a range of additional perks.


This is an indispensible factor for any financial institution nowadays, particularly due to increased attacks by cyber criminals. Encryption and the highest industry standards are a must-have for both services, and one of the reasons they made it this far up the global popularity ladder. The way they approach users’ individual security needs is what distinguishes them the most, as illustrated below.


What is interesting about PayPal is that it offers a unique PayPal Security Key feature, available for a single charge of 29.95USD. This may seem like a steep price to pay for a security service that should come for free, but it definitely is a good value for your money, especially when it comes to money-backs due to fraud.


Skrill’s approach is less costly – users are provided a two-factor authentication option through the free app you can download to the device you deem safest. It will become available as soon as installation is complete, and definitely makes up for it by guaranteeing money-backs in case of fraudulent transactions. However, if you miss out on this free extra security feature, you are thereby excluded from the added money-back convenience as well.

All in all, the final point...

... regarding Skrill definitely illustrates how important it is to keep yourself informed about all key features of your chosen payment service. If you are still dwelling between these two options, move on to a detailed table overview of their features, or simply head to their dedicated sites on the links provided at the bottom of the table and get first-hand info straight from both their responsive customer services.

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