Skrill or Neteller for money transfer? | Forex Factory

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Skrill or Neteller for money transfer?

  • #1
  • First Post: Aug 27, 2016 9:21am Aug 27, 2016 9:21am
Dear traders,

Let's please help each other by sharing our experiences about these 2 payment processors that both provide debit cards for those who don't want or cannot use a credit card issued by their bank.

Unfortunately, I have no experience to share yet about them.
Does a broker like IC Markets allow to withdraw to Skrill or Neteller more than the deposits ?
Don't give up on your dreams. Keep sleeping.
  • #2
  • Aug 27, 2016 3:12pm Aug 27, 2016 3:12pm
First of all, just to let you know that if an Australian broker goes bust then there is no guarantee fund like in the United Kingdom. So you would lose all of your money. Secondly, Skrill generally has better terms than Neteller. But to conclude I would use bank transfer as it is more secure and there are no percentage fees.
  • #3
  • Aug 27, 2016 7:39pm Aug 27, 2016 7:39pm
I use IC Markets and i deposit and withdraw with Neteller with no problems, generally in a few minutes, for now no more than $500 but i dont think it should be a problem with biggers deposits.
  • #4
  • Aug 28, 2016 1:37am Aug 28, 2016 1:37am
With ICMarkets, you can deposit amounts through Skrill (Moneybookers) but cannot withdraw to your Skrill account.

http://www.icmarkets.com/client-area/withdrawals/

I have funded a binary option account through Skrill and have so far withdrawn amounts much more than my original deposit. I guess it's the same with forex brokerages too.
  • #5
  • Aug 28, 2016 6:14am Aug 28, 2016 6:14am
Quoting BlackPip
First of all, just to let you know that if an Australian broker goes bust then there is no guarantee fund like in the United Kingdom. So you would lose all of your money. Secondly, Skrill generally has better terms than Neteller. But to conclude I would use bank transfer as it is more secure and there are no percentage fees.
Thanks for the advice.
I already did a bank transfer with IC Markets just to test it, and it cost me almost $50 for a transfer in a bank outside of Australia. And it was only for $500. Furthermore, it took a few days.
The thing also is that I don't have an international credit card with my bank so I cannot spend the money abroad.
Don't give up on your dreams. Keep sleeping.
  • #6
  • Aug 28, 2016 6:17am Aug 28, 2016 6:17am
Quoting GnWFx
With ICMarkets, you can deposit amounts through Skrill (Moneybookers) but cannot withdraw to your Skrill account. http://www.icmarkets.com/client-area/withdrawals/ I have funded a binary option account through Skrill and have so far withdrawn amounts much more than my original deposit. I guess it's the same with forex brokerages too.
Thanks bro.
I didn't see where they say that you cannot withdraw to your Skrill account ?
Can you please clarify what you said ?
Don't give up on your dreams. Keep sleeping.
  • #7
  • Aug 28, 2016 6:23am Aug 28, 2016 6:23am
Quoting Whikka
I use IC Markets and i deposit and withdraw with Neteller with no problems, generally in a few minutes, for now no more than $500 but i dont think it should be a problem with biggers deposits.
Mucho gracias amigo.
How much fees did it cost you ? I heard they are more expensive than Skrill.

Once the cash is in your Neteller account, can you just spend it with your associated debit card anywhere ?
Don't give up on your dreams. Keep sleeping.
  • #8
  • Aug 28, 2016 9:38am Aug 28, 2016 9:38am
Quoting Artcool
{quote} Thanks bro. I didn't see where they say that you cannot withdraw to your Skrill account ? Can you please clarify what you said ?
Skrill was formerly known as Moneybookers -- try www.moneybookers.com and you will be directed to Skrill homepage.

This is from ICMarkets website:

  1. Moneybookers transactions are processed by Ingenico ePayments (Formerly Global Collect). Ingenico ePayments does not permit Moneybookers refunds. All Moneybookers deposits must be withdrawn by bank transfer.

​

  • #9
  • Aug 28, 2016 10:17am Aug 28, 2016 10:17am
I used skrill payment for some brokers as sometimes credit card declined.
  • #10
  • Aug 29, 2016 7:14am Aug 29, 2016 7:14am
I have heard that neteller has bought skrill but i am not sure about the authenticity of this news, can anyone confirm this please?
  • #11
  • Aug 29, 2016 8:45am Aug 29, 2016 8:45am
Quoting Artcool
Dear traders, Let's please help each other by sharing our experiences about these 2 payment processors that both provide debit cards for those who don't want or cannot use a credit card issued by their bank. Unfortunately, I have no experience to share yet about them. Does a broker like IC Markets allow to withdraw to Skrill or Neteller more than the deposits ?
I use Skrill with Hotforex. Same day withdrawal, cheap ATM and bank transfers. Make sure you're fully verified with them and don't login from different IPs frequently.
Cheers.
  • #12
  • Aug 29, 2016 9:08am Aug 29, 2016 9:08am
Quoting leebsurag
{quote} I use Skrill with Hotforex. Same day withdrawal, cheap ATM and bank transfers. Make sure you're fully verified with them and don't login from different IPs frequently. Cheers.
Great mate.

Unfortunately I have to go with Netteller because as GnWFx pointed out, IC Markets don't send out profits to your Skrill account. Have no idea why, since they can do it with Neteller.
Don't give up on your dreams. Keep sleeping.
  • #13
  • Aug 30, 2016 1:06am Aug 30, 2016 1:06am
I have used both payment system , both are equally reliable , actually they both belong to the same group .

The difference is Nettller take over 7 days to process withdrawals to bank and skril process it the next day .
  • #14
  • Oct 2, 2016 3:12am Oct 2, 2016 3:12am
I'm using skrill but recently it charges $33 called "foreign bank fees" when i do bank transfers, My country is Sri lanka. anyone know why they charge huge amount. methods like western union charges less fee than skrill.
Failure is not failure if you learn from it...
  • #15
  • Edited 4:47am Aug 18, 2020 1:54am | Edited 4:47am
hi,
i tried to deposit money in IC market using skrill (verified account) but its showing unable to process payment. add here the image too. what's the problem here. can i get help how to solve this.
Attached Image
  • #16
  • Aug 30, 2020 12:24pm Aug 30, 2020 12:24pm
could never use skrill, I;m from argentina, switch to bitcoin to fund.
  • #17
  • Sep 2, 2020 11:32am Sep 2, 2020 11:32am
Honestly, both of them are kinda sh*tty

Meaning the withdrawal fees AND the currency exchange fees are off the through the roof (around 4% each time)

So the only time I still use my Skrill account, is for paying for stuff online in USD. Basically I withdraw USD then pay in USD with my virtual card. No fx fee, and no ATM withdrawal.
  • #18
  • Sep 2, 2020 11:44am Sep 2, 2020 11:44am
Quoting rockthepips
Honestly, both of them are kinda sh*tty Meaning the withdrawal fees AND the currency exchange fees are off the through the roof (around 4% each time) So the only time I still use my Skrill account, is for paying for stuff online in USD. Basically I withdraw USD then pay in USD with my virtual card. No fx fee, and no ATM withdrawal.
do you pay yearly tax to government if you don't use bank transfers?
  • #19
  • Sep 6, 2020 5:08am Sep 6, 2020 5:08am
neither,e bitcoin wallet all teh way for me, faster and easier to use
  • #20
  • Sep 21, 2020 12:30am Sep 21, 2020 12:30am
are they safe to use for the deposits and withdrawals with the unregulated broker?
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