- Who runs Skrill
- Who can open a Skrill account in the US
- How Skrill account opening and verification works
- Where your money is held with Skrill
- Skrill fees: inactivity and withdrawals
- Is Skrill useful for freelancers and side hustlers?
- Skrill scams to watch for
- Skrill at a glance
- So, is Skrill legit?
- Frequently asked questions
Skrill is a real digital wallet that began in the UK in 2001 as Moneybookers and is now part of Paysafe. In the US, its terms say the wallet is provided by Skrill USA, with funds held at an FDIC-insured bank. The catches are a monthly fee on inactive accounts, withdrawal fees, strict identity checks and personal use only.
Skrill is the kind of wallet people hear about from a client, a gaming site or a freelance platform, and then wonder whether it's safe to hand over their details. I've read Skrill's US Terms of Use and its help page on opening an account so you can see what it says about who runs it, where the money sits and which rules and fees catch people out.
Who runs Skrill
According to Wikipedia, Skrill was founded in the UK in 2001 as Moneybookers, was later renamed Skrill, and is part of Paysafe. That's a long history for a payments brand. For US customers, the Terms of Use say something more specific: the Skrill Digital Wallet Program is provided by Skrill USA, Inc., a Delaware corporation, and Paysafe, an affiliate, acts as program servicer.
It matters which company you're contracting with, because the legal wording changes by country. I've written this page around the US terms, since that's what most searchers from the US will be offered. If you live elsewhere, read the terms shown to you when you register.
Who can open a Skrill account in the US
The terms say you must be a US citizen or legal permanent resident of the United States of at least 18 years of age. You may hold only one account, and you may only use it for personal purposes, not for business. If you were hoping to use it as a business account for a small company, that's a clear no under these terms.
How Skrill account opening and verification works
Skrill's help page on opening an account says to use your own IP address and to avoid VPNs or proxies. You provide your name, date of birth, address and phone number, plus the last four digits of your Social Security number, and the email verification link is valid for 15 minutes only. You may also be asked to confirm your source of wealth and what you plan to use the account for.
Separately, the terms say Skrill USA verifies your identity and access to any linked bank account. It can use a third-party tool, two micro-deposits you confirm, or a manual document review. Make sure the details you give match your ID exactly, because mismatches are the usual cause of delays. These checks are normal for a payments company, but they do mean you can't open a wallet anonymously.
Where your money is held with Skrill
The terms say funds are held in custodial accounts at an FDIC-insured bank. They state your funds are insured up to 250,000 US dollars if the bank fails and specific requirements are met. They also say FDIC insurance doesn't protect your funds if Skrill USA itself fails.
That last line deserves a second read. It means the protection is about the bank, not about the wallet company. I'm not a financial adviser, so check the exact wording for your own situation before you leave a large balance in any wallet.
Skrill fees: inactivity and withdrawals
Two parts of the US terms catch people out. First, the account is free if you log in or transact at least once in a 365-day period. After that, a monthly maintenance fee of 5 US dollars applies until your balance reaches zero or you make a new transaction. If you set up a wallet for one job and forget it, that fee can quietly reduce what's left.
Second, the terms say withdrawals are subject to withdrawal fees per the Fee Schedule. I haven't quoted figures because the schedule changes and sits on a separate page, so look at it before you move money. You can close your account at any time, and the terms say any balance is transferred to you after anti-money-laundering and fraud checks.
Want AI doing the heavy lifting in your marketing?
I build the systems that handle the boring 80 percent, so you get your week back. Done properly, with the human kept in.
Is Skrill useful for freelancers and side hustlers?
It can be one way to get paid by clients who use it, but you should compare it with other options before you commit. My comparison of Stripe vs PayPal for a small business shows what to weigh up with any payment provider, and freelance writing opportunities has ideas on where client payments come from. Whatever you choose, keep records for your tax return, and speak to an accountant for your own situation.
Skrill scams to watch for
- Messages claiming your wallet is locked unless you click a link.
- Anyone asking you to receive and forward money for them.
- Requests to share verification codes sent to your phone.
- Sites that look like Skrill but ask for your password on a different address.
Skrill's terms rely on strict verification, so any offer that skips it, or any stranger asking you to open an account in your name for them, should make you stop. Go to the official site or app yourself rather than following a message.
Skrill at a glance
| What I checked | What Skrill's own US pages say |
|---|---|
| Provider | Skrill USA, Inc., a Delaware corporation |
| Minimum age | 18, US citizen or legal permanent resident |
| Use | Personal only, one account |
| Funds held | Custodial accounts at an FDIC-insured bank |
| Inactivity | Free if used once in 365 days, then a monthly fee |
| Withdrawals | Fees per the Fee Schedule |
So, is Skrill legit?
Yes, it's a real, long-running wallet brand with published US terms. Use it with your eyes open: know that the FDIC wording covers the bank not the wallet company, keep the account active or empty, read the fee schedule before you withdraw, and ignore anyone who contacts you first asking for codes or access.
Frequently asked questions
Is Skrill legit?
Yes. Skrill is a real digital wallet that began as Moneybookers in 2001 and is part of Paysafe. In the US, the wallet is provided by Skrill USA, Inc. under published terms.
Is my money safe in Skrill?
The US terms say funds are held in custodial accounts at an FDIC-insured bank, insured up to 250,000 US dollars if the bank fails and requirements are met. They also say FDIC insurance doesn't protect funds if Skrill USA itself fails.
Does Skrill charge for inactive accounts?
The US terms say the account is free if you log in or transact at least once in a 365-day period, after which a monthly maintenance fee of 5 US dollars applies until your balance reaches zero or you make a new transaction.
Who can open a Skrill account in the US?
A US citizen or legal permanent resident of at least 18. The terms say you may hold only one account and use it for personal purposes only.
Why does Skrill ask for so many documents?
The terms say Skrill USA verifies your identity and linked bank access, using a third-party tool, micro-deposits or a manual document review. Make sure your details match your ID.
