Yes, you can transfer from Skrill to your bank account, but the method and speed depend on which country you're in and which bank you use
Skrill is a digital wallet and money transfer service that lets you hold funds online, but it's not a bank. To move money out, you need to use one of Skrill's withdrawal methods. The most direct route is a bank transfer, which sends money from your Skrill account to a checking or savings account in your name. This works in most countries, but some banks and some regions have restrictions or don't participate.
The other withdrawal options are a Skrill prepaid card (which you can use to withdraw cash at ATMs), a check by mail, or a transfer to another digital wallet. Bank transfer is usually fastest and cheapest if your bank supports it, but you need to verify that your specific bank accepts incoming transfers from Skrill.
Key Takeaways
- Bank transfers from Skrill to your account typically take 1 to 5 business days, depending on your bank's processing speed.
- You must add and verify your bank account details in Skrill before you can withdraw, and the account must be in your own name.
- Some banks and some countries do not accept transfers from Skrill, so contact your bank before you initiate the withdrawal.
- Skrill charges a flat fee for bank transfers, usually between $2 and $5 USD depending on your region, plus a small percentage of the amount in some cases.
- If your bank rejects the transfer, the money returns to your Skrill account within 5 to 10 business days.
How to add your bank account to Skrill
Before you can transfer money out, you need to link a bank account. Log into your Skrill account, go to the Withdraw section, and select Bank Transfer. Skrill will ask for your bank's name, your account number, your routing number (in the US) or IBAN (in Europe), and the account holder's name. The name on the bank account must match the name on your Skrill account exactly.
After you enter these details, Skrill sends a small test deposit to your bank—usually between $0.01 and $0.10. This can take 2 to 5 business days. Once the deposit arrives, you'll see it in your bank statement. Go back to Skrill, confirm the amount of the test deposit, and your bank account is now verified. Only then can you withdraw money.
Keep your bank details current. If you close the account or change banks, update Skrill before you try to withdraw. A transfer to a closed or incorrect account will be rejected and sent back to Skrill.
Withdrawal fees and what you'll actually receive
Skrill charges a flat fee for bank transfers. In most regions, this is between $2 and $5 USD. Some countries also have a percentage fee on top of the flat fee—typically 1% to 2% of the amount you're withdrawing. The exact fee depends on your country and Skrill's current pricing, so check the Withdraw section of your account before you confirm the transfer. Skrill will show you the fee and the amount you'll receive before you finalize it.
The fee is deducted from your Skrill balance, not added on top. So if you have $100 in Skrill and the fee is $3, you'll receive $97 in your bank account. If you don't have enough in your Skrill account to cover both the withdrawal amount and the fee, the transfer will fail.
How long the transfer takes
Once you initiate a bank transfer from Skrill, the money leaves your Skrill account immediately. But it doesn't arrive in your bank account right away. The transfer goes through Skrill's banking partner, then to your bank's clearing system, then to your account. This chain usually takes 1 to 5 business days, depending on your bank's speed and your country's banking infrastructure.
US banks typically process transfers within 1 to 3 business days. European banks often take 2 to 5 business days. Some banks are slower, especially if the transfer arrives on a weekend or holiday—your bank won't process it until the next business day. Skrill has no control over this part; once the money leaves Skrill, the timeline is up to your bank.
If you don't see the money after 5 business days, contact your bank first to confirm they received it. If your bank says they never got it, contact Skrill support with your transaction ID and ask them to trace the transfer.
What happens if your bank rejects the transfer
Sometimes a bank refuses an incoming transfer from Skrill. This happens when the bank doesn't recognize Skrill as a legitimate sender, when the account details are wrong, when the account is closed, or when the bank has a policy against accepting transfers from digital wallets. When this happens, your bank sends the money back to Skrill automatically.
The return takes another 5 to 10 business days. Once it arrives back in your Skrill account, you'll see it there and can try a different withdrawal method. Before you try again, call your bank and ask whether they accept transfers from Skrill. If they don't, you'll need to use a different bank account or a different withdrawal method, such as the Skrill prepaid card.
Alternative withdrawal methods if bank transfer doesn't work
If your bank won't accept transfers from Skrill, you have other options. The Skrill prepaid Mastercard lets you withdraw cash at any ATM that accepts Mastercard. There's usually a small ATM fee from the ATM operator, but no Skrill fee for the withdrawal itself. The card takes 5 to 10 business days to arrive by mail.
You can also request a check by mail, though this is slow and only available in certain countries. Skrill will mail you a check for the amount you request, minus a fee. Checks take 2 to 4 weeks to arrive and then another few days for your bank to clear them. Some banks no longer accept checks, so confirm with your bank before you request one.
A third option is to transfer your Skrill balance to another digital wallet or payment service that your bank does accept, such as PayPal. This is an intermediate step, but it can work if your bank has a relationship with that service.
Frequently Asked Questions
Can I transfer money from Skrill to someone else's bank account?
No. Skrill only allows you to withdraw to a bank account in your own name. The account holder name must match your Skrill account name exactly. You cannot transfer Skrill funds to another person's bank account directly. If you need to send money to someone else, you can use Skrill's peer-to-peer transfer feature to send it to their Skrill account, or withdraw to your own bank and then send it from there.
What if the name on my bank account doesn't match my Skrill account exactly?
The transfer will likely be rejected. Banks match the account holder name on incoming transfers to the name on file. If they don't match—for example, if your Skrill account says "John Smith" but your bank account says "J. Smith" or "John Michael Smith"—the bank may refuse it. Update your Skrill account name to match your bank account exactly before you withdraw, or contact your bank to see if they can accept a slight variation.
Do I pay tax on money I withdraw from Skrill?
That depends on why the money is in Skrill and your country's tax laws. If it's income from work or sales, it's taxable. If it's a refund or personal transfer, it usually isn't. Skrill does not withhold taxes or report your withdrawals to tax authorities in most countries. You are responsible for reporting any taxable income to your tax authority. Consult a tax professional if you're unsure whether your Skrill funds are taxable.
Can I set up automatic withdrawals from Skrill to my bank?
Skrill does not offer automatic recurring withdrawals. You must initiate each transfer manually. This is a security feature—it prevents unauthorized withdrawals if your account is compromised. You can withdraw as often as you want, but you have to log in and request each one separately.
What if I initiated a transfer and now I want to cancel it?
If the transfer is still pending in your Skrill account (before it's been sent to your bank), you can usually cancel it. Log into Skrill, go to your transaction history, and look for a cancel option. Once the money has left Skrill and is in the banking system, you cannot cancel it from Skrill's side. You would need to contact your bank and ask them to reject or reverse the incoming transfer, though banks are not always able to do this.