Skrill Money Transfer vs Wise
Skrill vs Wise: Which Is the Better Service?
Skrill vs Wise. Which one is best for you and your needs? Which is the most affordable option if you need to send or receive money internationally? Check out our analysis of the pros and cons of each money transfer company.
Both are great services. While Skrill Money Transfer is a brand new service started by an established company with super-competitive pricing, Wise has years of experiences and the largest amount of satisfied customers using their service which is why Wise has a better overall Monito Score.
Our recommendation: compare Skrill vs Wise for the exact amount you need to transfer and go with the cheapest. Based on Monito's data, Skrill is often cheaper than Wise.
📢 Important: Wise Is the New Name for TransferWise
Until March 2021, Wise had been formerly called TransferWise. The company decided to change its name to broaden its appeal and encapsulate the full range of service it offers. While the name is different, it's important to note that the service is still the same, and you're still able to use the service as usual with the same set of login details that you used on TransferWise. See more here.
Skrill vs Wise
Compare Skrill, Wise and 100+ International Money Transfer Services
Trust & Credibility
Background check
Owned by the publicly-traded Paysafe Ltd, Skrill is a well-established and widely-used money transfer operator duly authorised and regulated by the FCA in the UK and FinCEN in the US.
Wise is duly authorised and regulated by the FCA and HMRC in the United Kingdom, as well as by the relevant authorities in all the countries in which it operates.
Security & reliability
Skrill's website and mobile app are fully secured and use top-notch security protocols, including segregated user accounts and HTTPS.
Wise's website is fully secured and makes use of top-notch security protocols, including segregated user accounts and HTTPS.
Company size
Since 2001, Skrill has grown to serve around a million customers globally, employ around 500 people, and handle up to US$1 billion in annual transactions.
Founded in 2011, Wise is a large and well-established company in the international money transfer world, touting over US$72 billion transferred in the past year, 10 million customers, and two thousand employees.
Transparent pricing
All of Skrill's fees are buried away in hidden exchange rate margins, meaning that the company is far from transparent when it comes to pricing.
Wise Money Transfer is impressively transparent when it comes to pricing, offering the mid-market exchange rate and charging only a low, clearly-displayed fee on transfers.
Service & Quality
Opening an account
Opening a new mobile wallet with Skrill is a straightforward experience, made all the easier by a smooth and easy-to-use interface.
Opening an account with Wise is quick and intuitive thanks to the platform's clean user interface, helpful prompts, and lack of information overload.
Making a transfer
Sending money overseas with Skrill (whether to a new or existing recipient) is a fast, simple, and clear process.
Transferring money with Wise Money Transfer is fast and straightforward, regardless of whether you're a first-time or seasoned customer.
Contacting support
Getting help when needed is possible with Skrill through a 24/7 live chat, although phone support is lacking.
Wise makes it easy to find help when needed, providing a detailed FAQ, a live chat feature, and phone support, all available around the clock.
Fees & Exchange Rates
Transfers to a bank account
Skrill was the cheapest bank transfer option on nearly a third (29%) of Monito searches over the past three months and was competitive on more than half (55%).
Wise was the best deal on one third (33%) of available Monito searches for bank transfers over the first three months of 2021.
Customer Satisfaction
Customer review score
With 4.8 out of 5 stars on Trustpilot, it goes without saying that Skrill has made an overwhelmingly positive impression on its customers.
Earning 4.7 out of 5 stars from more than 100 thousand reviews on Trustpilot, it should go without saying that Wise's service consistently delights its customers.
Number of positive reviews
Earning more than 6,700 four- and five-star reviews on Trustpilot, Skrill is much-loved in the eyes of its customers.
Having earned more than 107 thousand four- or five-star reviews on Trustpilot so far, Wise is without a doubt a trustworthy and reliable service in the eyes of its customers.
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Why Trust Monito?
You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.
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