Learn all about Moneygram in Pakistan- is it available ✔, how to receive money ✔, create an account ✔, and all the fees and charges involved ✔. Know more.
Skrill is an online wallet and payment gateway that Pakistanis can use for global payments. But account holders may deal with more than wallet and fees when trying to move or get money in Pakistani rupees. Learn more about Skrill, how it works and what to expect if you do open an account in Pakistan.
For an easy and convenient way to get money transfers directly to a Pakistani bank account, check out Wise.
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Skrill is available in Pakistan for Pakistani residents. You can sign up and register online. But, it is not possible to hold money in Pakistani Rupees in your Skrill account.
Any money you add to your Skrill wallet will need to be converted into one of the global currencies they offer. The conversion can be done through Skrill using their exchange rate, so you don’t need to convert the money before adding it.
Here are a few of the currency options when you open an account in Pakistan with Skrill:¹
- British Pounds
- Canadian dollars
- Australian dollars
- UAE Dirham
- Swiss Francs
- Indian Rupees
- Saudi Riyal
- Singapore dollars
- US dollars
- Turkish Lira
- Kuwaiti dinar
- Qatari Rial
- Jordanian Dinar
- Omani rial
Skrill can be used to make payments at hundreds of global sites and to send money. Money can also be sent to other Skrill users or to send money to a bank account globally. Skrill has 40 different currencies which can be used to send money. And since Skrill is a wallet, you can hold the money, send it globally, or withdraw it. ²
Skrill does have fees so it can often be more expensive than other money transfer services. Check out the section below on the fees to expect with Skrill.
You can create an account on Skrill online from Pakistan. Here are the steps:
- Go to the Skrill website or download the app on iOS or Android
- Click on Sign up
- Enter your first and last name (make sure it matches an ID)
- Select Pakistan from the country drop-down list
- Choose which currency you would like to open the account with
- Enter your email address
- Enter a password
After following the steps and confirming your contact details, you have created an account on Skrill. But to start sending money or making payments, you will need to complete the registration by providing Skrill:
- Your complete postal address
- Date of birth
- Mobile number
Pakistani residents may also be asked to confirm a source of income or wealth and how you plan on using the Skrill account from a drop-down menu.
While your Skrill account will have a primary currency, it is possible to hold multiple currencies in a single account. Once you have an account open, you can exchange money into a different currency in your account and hold or make payments in both. There are fees for exchanging currencies within Skrill.³
If you want to send money to Pakistan with Skrill, you can do it in two main ways:
- Skrill money transfer: You can transfer money to a bank account by bank transfer, debit, or credit card payment. There are transaction fees and currency conversion fees on each transaction. You will need the recipient’s bank account details to complete.
- Skrill to Skrill transfer: You can send money to another holder of a Skrill account. This also carries a fee.
Both options are available from the Skrill dashboard. Before sending money with Skrill, you will need to fill your Skrill wallet by depositing funds using a debit or credit card.
It is free to receive money into a Skrill account, but depending on the currency you may get a currency conversion fee. It is free to use your Skrill account at websites that accept Skrill.
Receiving money can be instant with Skrill into a Skrill account. An international money transfer to a Pakistani bank account can take 24 to 72 hours.⁴
There are 3 ways to withdraw money from Skrill in Pakistan. Each way has its own fees that Skrill takes out before depositing the funds. Here is what to know about the withdrawal options:
|Medium||Description||Skrill fee to withdraw|
|Jazz Cash||Jazz Cash is a mobile wallet in Pakistan. You can receive Skrill funds into a Jazz Cash wallet and then transfer the money to your bank account.⁵||1.45%|
|NeTeller||NeTeller is not very popular in Pakistan but it is a wallet that can receive funds from Pakistan.⁶||3.49%|
|To a bank account||A bank account transfer to your local account.||5.50 EUR|
Here are the fees to expect when you use Skrill in Pakistan:
|Deposit money into Skrill||2.50%|
|Skrill to Skrill money transfer||2.99%|
|International transfer with debit card payment||Up to 1%|
|International transfer with credit card payment||Up to 2.99%|
|International transfer in same send/receive country||4.99%|
|International transfer exchange rate fee for currency conversions||4.99%|
|Receive money (no currency conversion)||Free|
Skrill also has a fee of 5 Euros if your account is not kept active within 6 months. The fee will be taken in the currency equivalent of your primary currency in your account.⁷
|⚠️ With Skrill’s transfer fees, exchange rate fees and withdrawal fees, you can look at potentially losing close to 10% of your transaction amount in fees just to get the funds to your Pakistani bank account.|
And if you are trying to transfer money using Skrill to a Pakistani bank account, that can cost you too. Here is an example of sending 1,000 GBP to Pakistan using Skrill-before their fees. Compare it to Wise, which has a low transparent fee and the mid-market exchange rate..
|Amount to send||£1,000||£1,000|
|Exchange rate to £1||Rs. 270.53||Rs. 273.03|
|Amount received in Pakistan||Rs. 270,532||Rs. 271, 227 Try Wise 🚀|
As of 18 December, 2022
Although Skrill doesn’t have a transfer fee when sending money to Pakistan, it has an exchange rate fee that reduces how much your recipient can get. Wise, with its clear fee and mid-market exchange rate lets your recipient in Pakistan get Rs. 1,000 more in the same transfer.
Wise is an easy and simple way to get money in Pakistan. Signing up is free, and senders can send money directly to your Wise multi-currency account or your local Pakistani account. No wallets or complicated fees here.
Over 13 million people around the world use Wise to send money globally. With the mid-market exchange rate, you don’t lose money on extra fees and can get more in your pocket.
- The speed of transaction claim depends on funds availability, approval by Wise’s proprietary verification system and systems availability of our partners’ banking system, and may not be available for all transactions
Sources used for this article:
All sources checked as of 18 December, 2022
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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