Sending money directly from Skrill to PayPal isn't a straightforward process, as neither platform offers a direct transfer option between them. However, don't worry! There are a few workarounds you can use to achieve your goal. Let's explore these methods step-by-step.
Step 1: Understanding the Indirect Nature of the Transfer
Before we dive into the methods, it's crucial to understand why a direct transfer isn't possible. Skrill and PayPal are competitors in the online payment processing space. They generally don't facilitate direct fund transfers to each other. Therefore, we need to use intermediary steps.
Which method sounds most appealing to you based on your needs?
- Using a Bank Account as an Intermediary: This involves withdrawing funds from Skrill to your bank account and then depositing those funds into your PayPal account.
- Utilizing a Third-Party Exchange Service: Some online services specialize in exchanging funds between different e-wallets, although these often come with fees.
Let's delve into each of these methods in detail.
Step 2: Method 1 - Using a Bank Account as an Intermediary
This is often the most common and potentially the most cost-effective method, provided you have bank accounts linked to both your Skrill and PayPal accounts.
Step 2.1: Withdrawing Funds from Skrill to Your Bank Account
- Log in to your Skrill account: Go to the Skrill website (
www.skrill.com - Navigate to the "Withdraw" section: Once logged in, look for a "Withdraw" or "Withdraw Funds" option. This is usually located in your account dashboard or under a "Money Out" or similar tab.
- Select your linked bank account: You should see a list of your linked withdrawal methods. Choose your bank account. If you haven't linked a bank account yet, you'll need to do so. This usually involves providing your bank name, account number, and sort code/routing number. Make sure the details are accurate!
- Enter the withdrawal amount: Specify the amount of money you want to withdraw from your Skrill account. Be mindful of any withdrawal limits and potential fees Skrill might charge for bank transfers. These fees will be clearly displayed before you confirm the transaction.
- Review and confirm the withdrawal: Double-check all the details, including the bank account information and the withdrawal amount. Once you're sure everything is correct, confirm the withdrawal.
- Wait for the processing time: Bank transfers typically take a few business days to process. The exact timeframe will depend on your bank and Skrill's processing times. You'll usually receive a confirmation email from Skrill once the withdrawal is initiated.
Step 2.2: Depositing Funds from Your Bank Account to PayPal
Once the funds have arrived in your bank account, you can then deposit them into your PayPal account.
- Log in to your PayPal account: Go to the PayPal website (
www.paypal.com - Navigate to the "Wallet" or "Money" section: Look for a section that manages your balance and linked accounts. This might be labeled "Wallet," "Money," or something similar.
- Select "Add Funds" or "Deposit": You should find an option to add money to your PayPal balance.
- Choose your linked bank account: You'll see a list of your linked funding sources. Select the bank account where you received the funds from Skrill. If you haven't linked this bank account to your PayPal account yet, you'll need to do so. This process usually involves verifying your bank account details.
- Enter the deposit amount: Specify the amount of money you want to deposit into your PayPal account. Ensure this matches the amount you withdrew from Skrill (minus any potential fees).
- Review and confirm the deposit: Double-check the bank account details and the deposit amount. Once you're satisfied, confirm the transaction.
- Wait for the processing time: Deposits from a bank account to PayPal usually take a few business days to appear in your PayPal balance. PayPal will typically send you a confirmation email once the deposit is complete.
Step 3: Method 2 - Utilizing a Third-Party Exchange Service
While less common and often involving fees, some third-party online exchange services might facilitate transfers between Skrill and PayPal.
Step 3.1: Finding a Reputable Exchange Service
- Research online: Use search engines to look for "Skrill to PayPal exchange services" or similar terms.
- Check reviews and reputation: Before using any service, thoroughly research its reputation. Look for reviews on independent platforms to ensure its legitimacy and reliability. Be cautious of services with very low fees or promises that seem too good to be true, as these could be scams.
- Compare fees and exchange rates: Different services will have varying fees and exchange rates. Compare several options to find the most cost-effective one for your needs.
- Understand the process: Each service will have its own specific steps for initiating an exchange. Make sure you understand the entire process before proceeding.
Step 3.2: Executing the Exchange
- Create an account: You'll likely need to create an account with the chosen exchange service.
- Follow their instructions: The service will provide specific instructions on how to send funds from your Skrill account to their platform and how they will then send the equivalent amount (minus their fees) to your PayPal account. This might involve providing your Skrill account details and your PayPal email address.
- Confirm the transaction: Carefully review all the details, including the amount you're sending, the exchange rate, the fees, and the PayPal receiving address, before confirming the transaction.
- Wait for the processing time: The processing time for these exchanges can vary depending on the service.
Important Considerations
- Fees: Be aware that both Skrill and PayPal may charge fees for withdrawals and deposits, respectively. Third-party exchange services will also have their own fees. Factor these costs into your decision.
- Verification: Ensure that your Skrill and PayPal accounts are fully verified to avoid any limitations or delays in transactions.
- Currency Conversion: If your Skrill and PayPal accounts use different currencies, there might be currency conversion fees involved, both from Skrill/PayPal and potentially from any intermediary service.
- Security: When using third-party services, prioritize security. Only use reputable platforms and be cautious about sharing your account details.
How to... Frequently Asked Questions
How to link my bank account to Skrill?
Log in to your Skrill account, go to the "Cards and Bank Accounts" section, and follow the instructions to add your bank details. You might need to verify your account.
How to check Skrill withdrawal fees?
Log in to your Skrill account, navigate to the "Withdraw" section, and the fees associated with each withdrawal method will be displayed before you initiate a transaction.
How to link my bank account to PayPal?
Log in to your PayPal account, go to the "Wallet" section, click on "Link a bank account," and follow the prompts to enter your bank details. PayPal may require you to confirm small deposits.
How to check PayPal deposit fees?
Generally, PayPal doesn't charge fees for receiving money or depositing funds from a linked bank account within the same country. However, always check PayPal's fee structure for any potential exceptions.
How to find reputable third-party exchange services?
Look for services with a long track record, positive reviews on independent review sites, and transparent fee structures.
How to ensure the security of my transactions?
Use strong, unique passwords for all your accounts, enable two-factor authentication whenever possible, and be cautious of phishing attempts.
How long does a bank transfer from Skrill usually take?
Typically, bank transfers from Skrill take between 2 to 5 business days, but this can vary depending on your bank and location.
How long does a bank deposit to PayPal usually take?
Deposits from a linked bank account to PayPal usually take 1 to 3 business days to reflect in your balance.
How to deal with currency conversion fees?
If possible, try to keep your Skrill, bank, and PayPal accounts in the same currency to avoid unnecessary conversion fees. If conversion is unavoidable, compare the rates offered by different services.
How to contact Skrill or PayPal support if I encounter issues?
Both Skrill and PayPal have dedicated support sections on their websites with FAQs, contact forms, and sometimes live chat options. Look for the "Help" or "Contact Us" links on their respective platforms.
Hopefully, this detailed guide helps you navigate the process of sending money from Skrill to PayPal! Remember to always prioritize security and be aware of potential fees involved.