The PayPal vs Skrill comparison is different to the Neteller vs Skrill comparison. Skrill (former Moneybookers) and PayPal aim for different customers in some parts of their e-wallet businesses and therefor offer different conditions. Most important: PayPal does not provide most Poker, sports betting and online gambling rooms as merchants.
All data of the following PayPal vs Skrill comparison are updated whenever it is required.
Last updated: August, 2013.
PayPal does not offer a VIP program like Skrill (Moneybookers) and Neteller do. The information in bricks in the following fee comparison show the benefits of Skrill (Moneybookers) VIP members.
The required amount of sent transfers to merchants within 6 months to become Skrill (Moneybookers) VIP are: bronze: 12,000 EUR; silver: 30,000 EUR; gold: 90,000 EUR; diamond: 180,000 EUR.
The fees at PayPal are very complicated and different for many cases. The following comparison provides information for personal usage with lower fees than the PayPal business accounts. Please check the anchored links to PayPal’s User Agreement in the following PayPal vs Skrill comparison for more information.
|specific VIP conditions in (bricks)||n/a||(bronze; silver; gold; diamond)|
|Available accounts per customer||2 accounts
(1 personal + 1 business account)
(1;2;3;4 different currency accounts)
|Available account currencies||25||40|
|Account management fees||free||free|
|Account unused||free||unused for 12 months:
|Exchange fees (FX)||2.5%||2.49% (2.49%; 1.75%; 1.75%; 1.75%)|
|p2p Money transfers||Sender generally determines whether the sender or recipient pays the fee.|
|- send money (p2p)||free||1%, max 0.50€|
|- receive money||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 between
2.9% + $0.30 (from US to US account) and
7.4% + $0.50 (from US to Brazil account)
–> PayPal User Agreement #Receive Money
|- bank transfer||free||free|
|- instant bank deposit||free||free|
|- credit card||between 2.90% + $0.30 and 7.40% + $0.50||free|
|- bank transfer||free||1.80€ (free*)|
|- prepaid card at the ATM||$1.95||1.80€ (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||customer with verified account|
|- fee to order||free||10€ (free)|
|- membership||$4.95/month||10€/year (free)|
|- costs for cash withdrawals at the ATM||$1.00 + 2.5% FX fees
1% + 2.5% FX fees outside the US
|1.80€ (free) + FX fee: 2.49% (2.49%; 1.75%; 1.75%; 1.75%)|
|- ATM transaction decline fee||$1.00||free|
|- costs at points of sale||free||free|
|- stop payment fee for preauthorized||$10||free|
|- online bank statement||free||free|
|- new PIN||free||free|
|- new prepaid card||$5.95||10€ (free)|
|- cash withdrawal at ATM limits/24h||$940||250€ (250; 500; 2,500; 2,500)|
|- points of sale limits/24h||$5,000||1,000€ (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|
|- more information||PayPal PrePaid MasterCard: Cardholder Agreement Nov 2011
||Skrill PrePaid MasterCard: Terms of Service|
|Cashback for merchants transfers
||n/a||none (0.2% with Skrill Loyalty Club)|
|- promotions||n/a||0.8% cashback; 3-4 times/year for 4-6 weeks|
- additional bonus-programs
|bonus paid by VIP-Cashback.net
for new and existing customers
Claim extra Bonus!
|Security Token||PayPal Security Key||Skrill Security Token|
|- fee to order||$29.95||15€ (free)|
|- delivery time||3-5 business days|
|- battery life span||5-7 years|
|- Money-back guarantee in case of fraud||yes||for all Skrill customers using the Security Token|
It is not possible to transfer funds between Skrill (Moneybookers) and PayPal directly.
Both e-wallet providers do not offer any transfers with Bitcoins at the moment. However, recently PayPal announced to maybe implement Bitcoins as well as other virtual currencies such as airlines miles.
Skrill (Moneybookers) was able to double their memberships to more than 35 million as well as their overall transfers to 55 billion EUR within last 2 years. Compared to PayPal with “128 million active registered accounts” and 110 billion EUR value of transactions in 2012, Skrill (Moneybookers) is still the much smaller competitor. But with a growing rate of around 20% PayPal grew slower than Skrill (Moneybookers) did with more than 50% last years.
Skrill (Moneybookers)was able to team up with biggest global players, such as Facebook, Skype and Ebay. Ebay acquired PayPal in 2002 and is benefitting from their own e-wallet provider. PayPal revenues represented 40% of eBay Inc. revenues in 2012, showing the strength of that acquisition a decade ago.
PayPal will probably keep growing with a rate of 20% within the next years. Regarding much smaller fees for personal accounts, but especially for merchants, it will be interesting to see how Skrill (Moneybookers) will compete with PayPal having Ebay as the strongest supporting website. Aiming for the US market, especially the huge online gambling market could be a way for Skrill (Moneybookers) to outperform PayPal within the next 5-7 years.
Pro Moneybookers (Skrill):
Most people have a PayPal account for smaller transfers or when they buy things at Ebay. But when it comes to bigger transactions, especially for online gamblers and Forex traders, Skrill (Moneybookers) is the way better option. The fees are not even comparable for these two e-wallet providers.
We only provide Skrill (Moneybookers) with our value added VIP-Cashback program, because we want our clients to benefit from the best conditions available. If you want to learn more about it, please have a look at our benefits and start earning significant cashback by using Skrill (Moneybookers) – the best e-wallet provider in the net!
Posted in: Skrill (Moneybookers)