How to send money from PayPal to Skrill in the UK?

If you’re a fan of digital payments services, you might be a regular user of both PayPal and Skrill. They’re popular mobile wallets in the UK, handy for shopping online and sending money to friends and family.

But the big question is - can you send money from one to the other? In this guide, we’ll cover everything you need to know about sending money from PayPal to Skrill here in the UK.

Also, check out the Wise account from the money services provider Wise if you need to send money overseas for low, transparent fees and mid-market exchange rates.

Learn more about the Wise account 💰

Can I transfer money from PayPal to Skrill?

Unfortunately, PayPal and Skrill can’t be directly linked. While they offer some similar services, they’re two different and separate platforms.

This means that there isn’t an easy way to send money from PayPal to Skrill. It isn’t impossible to do, but the process is a little long-winded - we’ll show you how to do it in just a moment.

Is Skrill like PayPal?

Skrill is similar to PayPal in a few ways. They both offer a digital wallet, along with transfers, a mobile app and online payments. However, PayPal is much more widely accepted at online retail sites than Skrill.

PayPal has additional services such as credit and ‘Pay in 3’ to spread the cost of purchases, while Skrill offers cryptocurrency trading.

Both also offer business accounts and services for online merchants.

How much does the transfer cost?

It shouldn’t cost you anything to send money between PayPal and Skrill, because the only way to do it is via bank transfers.

PayPay doesn’t charge a fee to withdraw your balance to your bank,¹ and Skrill doesn’t have any fees for depositing via bank transfer.²

Crucially, this is only as long as no currency conversion is involved.

If you need to send money overseas in different currencies, consider opening a Wise account. You can transfer money to 40+ currencies for low fees and great exchange rates.

How to send money from PayPal to Skrill?

As we’ve mentioned, it isn’t possible to send money directly from PayPal to Skrill in just a tap or click. You’ll need to follow a few additional steps.

Here’s what to do:

1. Login to your PayPal account - if you don’t have one yet, read this to get started.
2. Go to ‘Wallet’ and select your PayPal balance.
3. Withdraw your PayPal balance to your linked bank account - if you haven’t yet linked a bank account, this is something you’ll need to do first.
4. Once the money has arrived in your bank account, make a bank transfer to Skrill - this will top up your Skrill digital wallet balance, which you can then use for spending or money transfers.
5. To start a bank transfer, open the Skrill app and select ‘Deposit now’ under ‘Bank transfer’.³
6. Skrill’s bank details and your unique reference number will be displayed - make a note of these.³
7. Go to your online banking and sign in.
8. Set up a bank transfer using the Skrill details - make sure to include the unique reference number so the money will be assigned to your account.

Is Skrill better than PayPal?

Both Skrill and PayPal are good for online payments and money transfers, so you can use whichever one you prefer - or both.

But if you’re looking for additional features, you might choose to use one or the other. PayPal is handy to have if you’re a regular online shopper, as it’s more widely accepted at checkout than Skrill. You may also be eligible for PayPal credit services to help spread the cost of purchases.

Skrill, meanwhile, offers services like cryptocurrency trading, and it specialises in payments for gaming and betting sites. It also has a prepaid debit card, which isn’t an option for personal PayPal customers.

📚 Read more: 12 alternatives to Skrill in the UK

Is Skrill safe like PayPal?

Both Skrill and PayPal offer advanced security features.

Skrill has leading edge security and is fully regulated in all the countries it operates in. PayPal security is just as sophisticated, with data encryption, protected account access and buyer protection policies.

How long does it take to transfer money from PayPal to Skrill?

The time it takes to send money from PayPal to Skrill can vary depending on your bank.

PayPal transfers to bank accounts can take 3-5 working days, although it could be much quicker.⁴

Bank transfer deposits into Skrill generally take 1-2 working days.³

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After reading this, you should have a better idea of how to send money from PayPal to Skrill. It’s a shame you can’t do it directly, but it’s good to know it’s still possible. You’ll just need to work your way through a few extra steps.

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Sources used:

1. PayPal - PayPal Consumer Fees
2. Skrill - Our Fees & Charges
3. Skrill - Support - How do I deposit with bank transfer?
4. PayPal - Help - How do I withdraw money from my PayPal account?

Sources last checked on date: 09-May-2024