NETELLER vs Skrill

With the steady expansion and rapid development of online gambling, the need for a stable, reliable and safe method for transferring money online has become as much of an element of the gaming process as the games themselves. Having an e-wallet account which you can use to effortlessly transfer money for a multitude of online purposes is one of the best and most secure banking models available today. We are going to look at the two leading e-wallet providers on the market: NETELLER and Skrill (or Moneybookers). Of course, both offer a plethora of additional services and options which we will examine, some briefly and others in more detail.

In order to conclude which service is better or, let’s say “easier to recommend” we will be looking at several key characteristics in both NETELLER and Skrill: Functionality (ease of use); Pricing; Availability; Prepaid MasterCard Programs; Safety and security standards and finally, Limits for deposits and withdrawals.

These should give us enough insight as to assess which is the right e-wallet for you. Let’s begin.

First impressions

Ease of use / functionality

When it comes to the initial setup of the online account at both services, the process is streamlined and pretty straightforward – the user chooses his/hers country of residence along with desired transfer currency (note that Skrill has 40 currencies available while NETELLER offers only 18) and personal details as well as banking information.

As for the available options for the actual transfer to/from your online account, both NETELLER and Skrill cover the standard array of credit cards (VISA, Mastercard). The differences come mostly in the form of country availability, fees and time required for delivery which will be discussed below.

Pricing

All right, things are now starting to get interesting. Let’s see how the two services compare in terms of pricing of their transfers.

Deposits to account

Lastly, deposits to your NETELLER or Skirll account from a credit card also vary in terms of deposit fee. At Skrill, you get a fixed 1.90% for using American Express, VISA / Mastercard, JCB or Diners Club while at NETELLER, there’s a varied fee for every credit card (1.17-4.95% for VISA; 1.75-4.95% for Master Card; etc)

Sending money to third parties (gambling sites, etc.)

Both NETELLER and Skrill have support on many gambling websites and the majority of them do not enforce any fee for deposing money.

Receiving money from third parties (gambling sites, etc.)

There’s a standard policy of 2 hours for the transfer of money from the third party to the e-wallet account, which can be extended further on behest of the company.

Withdrawals from account

Again there’s a difference in the fee policy between NETELLER and Skrill when the withdrawals are concerned.

It is clear that Skrill beats NETELLER to the punch by offering lower fees and more availability from both credit card and bank transfer.

Accepting countries

Safety and security

In terms of online and offline safety (when using their Prepaid Credit Cards) both e-wallets are outperforming for the benefit of their customers.

Offered limits for deposits/withdrawals

When it comes to limiting the amount of money you can transfer to and from your e-wallet, both services differ from one another. We will start with NETELLER first then move on to Skrill.

Conclusion

If you are a US citizen, the choice for an e-wallet between Skrill and NETELLER is very simple – you won’t be choosing either since the USA is not supported. However, everybody else (especially European citizen) have a quality e-wallets on both sides.

Overall, the options offered by Skrill seem to weight more favorably with consumers (lower fees, better coverage) while the security levels for both are top notch.