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Sending money abroad is easier than ever with digital platforms like Skrill and Vance. Whether you support your family, pay for services, or manage business transactions, Skrill provides a reliable method for transferring funds across borders. However, understanding the proper steps and best practices can enhance your experience, making it smoother and more efficient.
In this blog, we'll explain how to send money abroad efficiently using Skrill, provide tips on avoiding delays and tracking your transfers, and introduce you to Vance, a better alternative that may best suit your needs.
Step-by-Step Guide to Sending Money with Skrill
1. Setting Up Your Account
Access Skrill via their official website or download the app from the App Store or Google Play.
Provide details, set a secure password, and verify your email address. Complete your profile by adding your address and nationality.
Select the country you're sending money from and the destination country.
2. Selecting Your Transfer Type
Standard Transfer: Typically processed within 1-3 business days, suitable for non-urgent transfers.
Instant Transfer: When logged in, you can send money directly to another Skrill account for immediate transfers by selecting the 'Skrill to Skrill' option.
3. Choosing Your Recipient, Delivery Method, and Payment Method
Enter Recipient Details
Provide the recipient's full name as per their bank records.
Include their email address or mobile number if they receive funds via Skrill.
4. Select Delivery Method
Bank Transfers: Send money directly to the recipient’s bank account.
Skrill Wallet: Transfer funds to the recipient’s Skrill account.
5. Select Payment Method:
Fund the transfer using a bank transfer, debit/credit card, or Skrill wallet balance.
Be aware that different payment methods may have varying fees and processing times.
6. Review Exchange Rates and Fees:
Skrill provides the current exchange rate for your transfer.
Review applicable fees based on your chosen transfer type.
Ensure all recipient details, delivery methods, and transfer amounts are correct to avoid delays or errors.
6. Confirming the Transfer
Confirm the recipient’s information, chosen delivery method, and the estimated delivery time.
Ensure you know the total cost, including any fees.
Once everything appears correct, confirm the transfer. You'll receive a confirmation email or SMS with a tracking number to monitor the status of your transfer.
Additional Considerations
1. Transfer Fees: Skrill's fees vary depending on the transfer method and destination. For instance, sending money to a bank account abroad can be free, but other methods may incur fees.
2. Processing Times: While some transfers are instant, others may take up to 24-72 hours, depending on the destination and payment method.
3. Currency Conversion: Skrill applies a currency conversion fee of up to 4.99% per transaction.
For the most accurate and up-to-date information, it's advisable to consult Skrill's official resources or contact their customer support.
What are the Tips for Quick and Secure Transfers?
1. Use Verified Payment Methods
A verified payment method can speed up the transfer process and reduce the risk of errors. Skrill allows you to save your payment details for future use, making the process quicker each time.
2. Choose Faster Transfer Options
Skrill’s instant transfer option is ideal if the money arrives quickly. However, the standard transfer can save on fees for those waiting.
3. Keep Your Documents Ready
For larger transfers, you may need to provide additional documentation. Having these documents prepared can ensure a smooth and timely transaction.
Commonly Required Documents:
Government-issued ID (passport, driver’s license)
Proof of address (utility bill, bank statement)
Source of funds (pay stubs, bank statements)
4. Track Your Transfer
After initiating the transfer, you can track its status via the Skrill app or website. This feature helps you stay informed about your money’s journey until it reaches its destination.
Steps to Track:
Log in to your Skrill account.
Go to the ‘Transaction History’ section.
Select your transfer to view real-time updates.
Vance offers a similarly robust tracking feature for users who prioritise staying updated, with the added benefit of real-time notifications and more detailed transaction histories.
Make Secure Transfers to India with Vance
At Vance, we solve banking for Global Citizens—the NRIs. For people who constantly hop around the globe, banking becomes increasingly complicated. Managing multiple accounts, paying obscene forex fees, and dealing with complex regulations are the norm. Our mission is to be the one-stop shop for all your financial needs worldwide. We’ve started by enabling users to transfer money to India from the UK, UAE, and parts of Europe.
Transfer money to a reliable network of banks, including the State Bank of India (SBI), HDFC Bank, Kotak Mahindra Bank, Yes Bank, and many more. Get £10 as a sign-up bonus instantly after completing your KYC verification, making your first transaction even more rewarding. The best part? Your first transfer with Vance is free!
In Conclusion
Adhering to these steps makes sending money abroad with Skrill efficient and secure. Understanding how to set up your account, select the proper payment methods, and track your transfers will enhance your overall experience. Platforms like Vance might also be worth considering for those looking for alternatives, depending on your specific needs.
This content is for general informational purposes only and should not be taken as financial, legal, or professional advice from Vance or its affiliates. While we strive for accuracy, the information may change over time. Vance makes no representations, warranties, or guarantees, whether express or implied, regarding the information's accuracy, completeness, or reliability. The comparison is based on publicly available data and is intended to assist users in making informed decisions. It is not a substitute for professional advice or consultation with financial experts. Please review your region's terms of use and product availability or visit the service provider's website for the latest pricing and service information.
FAQs
Q1. What are the steps to send money abroad using Skrill?
Set up an account, choose transfer details, enter the recipient information, select a payment method, and confirm the transfer. Consider alternatives like Vance for enhanced tracking and updates.
Q2. How long do Skrill international transfers take to complete?
Standard transfers take 1-3 business days, while instant transfers are immediate. Platforms like Vance might also be worth exploring for faster and more seamless transfers.
Q3. Are there ways to get better exchange rates when using Skrill?
Monitor exchange rates through the Skrill app and look out for promotions. Vance users may appreciate real-time updates and lower fees on initial transactions.
Q4. Can users schedule future transfers on Skrill?
Currently, Skrill does not support scheduling future payments. Users must initiate each transaction manually.
Q5. Are there limits to the amount that can be transferred internationally with Skrill?
Yes, transfer limits depend on your account verification and payment method. Users needing more flexibility might explore options like Vance for diverse solutions.
Q6. How secure are international transfers made via Skrill?
Skrill uses encryption and security protocols for safe transfers. Platforms like Vance offer robust alternatives for increased security and detailed transaction tracking.
Rupali enjoys writing about everything related to money (in India and around the world). A MICA graduate in Communications, she has over seven years of experience in content creation and communication strategy for various user touchpoints, from CRM to UX for apps and websites, especially in fintech and healthcare. Outside of work, you'll find her binging on true crime documentaries or cooking up a storm.
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