If you are looking for a fast, secure, and low-cost way to send and receive money online, Skrill could be the perfect solution for your business. This article will show you how to create a Skrill business account and how to use it to send and receive payments. We will also discuss some of the benefits of using a Skrill for Business account.
What Is a Skrill Business Account?
Skrill Business Account is an online money transfer service that allows businesses and individuals to send funds quickly, safely, and at a reasonable cost through the Skrill website or via its mobile app. Skrill business account integration with your website offers flexibility, complete visibility, and control of all transactions. The highly secure method allows businesses to accept credit cards, debit cards, bank transfers, etc.
You can opt for any of the following three types of accounts:
- A Full Merchant Account, which enables sending and receiving of money.
- An Expense Account that allows you to send payments.
- Wallet to Wallet to send and receive money transfers.
Benefits of Using a Skrill Business Account
Selling online is an incredibly profitable industry, and with over 2.14 billion online buyers in 2021 alone, that’s not surprising. However, for this kind of business to be successful, merchants need a Skrill business account to receive money securely and efficiently. Here are some of the top benefits you can enjoy by using Skrill:
You don’t have to worry about paying high payment processing or account fees with Skrill Business. With the account startup free of cost, there are no transaction fees when depositing money into Skrill via bank transfer. You only pay a small withdrawal fee of 3.99% on Mastercard and VISA and 5.50 EUR on bank transfers.
Higher Number of Supported Currencies
Skrill is one of the most well-known payment companies, and it supports over 40 currencies. For online businesses, this diversity is a big positive, and that’s why many businesses and individuals use Skrill to pay for their purchases or receive payments from overseas customers in their currency.
More Payment Options
Skrill offers several payment solutions for business owners, such as credit cards, debit cards, bank transfers, and more than 100 local payment methods. A Skrill for Business Account also unlocks other payment methods, such as a digital wallet and Rapid Transfer.
Skrill is FCA-regulated and PCI-compliant. What’s more, its Money Transfer service has SSL technology with 128-bit encryption, which means that your details are protected during transactions at any time. The Skrill Prepaid Mastercard has a 3D Secure security feature.
24/7 Customer Support
The payment solution offers 24/7 phone, email, and live chat Skrill business support. . You can access these to receive assistance for various queries related to transactions you have made on the platform or to gain information about additional services. You can also visit Skrill’s blog for updates on their products and features. Reviews for Skrill business indicate a helpful customer service experience.
Easy To Use
As per the majority of the Skrill for business reviews, the service is one of the easiest ways to send and receive money on the go. You can easily access your account from any device, including tablets, smartphones, and computers. Use Skrill on the go with no extra software installations required — simply login securely from a web browser or mobile app. You can manage your account, securely store your billing information, and send money with just a few clicks; it’s that easy.
How To Open an Account
You can create a new Skrill business account quickly and easily online. It merely takes a few steps and basic information like the name of the business, company registration number, etc. It is mandatory to have a registered business and a functional website.
Creating a New Business Account
You can create a Skrill business account with the following steps:
- Go to the Business page, click on “Get Business Account” for registration, and provide your email address.
- Fill in the required details, such as a website link, business and ownership details, contact information, and market details.
- Skrill will then review the provided details and documents. They will contact you if more information is required.
- Once approved, a merchant ID will be provided to you. You will now need to connect your online store to your Skrill business account; then, you can begin using it instantly.
Upgrading the Skrill Account to Business
You cannot convert a personal Skrill account into a business account. You will need to create a separate account.
Documents Needed To Open a Skrill Business Account
The following documents are required for the approval of your Skrill for business account:
- A certificate or a relevant document stating your registration as a business entity or sole proprietor
- Proof of identity and address
- Proof of owning the business website and domain
Difference Between a Skrill Business Account and a Personal Account
An international money transfer is a very complex process in which many people can easily lose a huge amount of money due to unexpected fees, commission rates, and balance uncertainties. Skrill simplified the whole process, so you can do business with confidence, no matter where your customer or supplier is located.
Skrill Business Account
The difference between them is the extra features on the business account, which are available to help save money and time and increase customer satisfaction.
+ Easy integration with your business website
+ Access to major shopping carts
+ Digital wallet
+ Rapid Transfer
+ It can be used in any niche except for tobacco, drugs, etc.
+ It is budget-friendly.
– It requires business registration.
– It cannot be changed to a personal account.
– Account registration may be rejected if the website is not functioning, the business model is unsupported, or incorrect details are provided.
Skrill Personal Account
The Skrill regular account is created for individuals who want to use Skrill for online transactions.
+ Offers reward points under the Knect loyalty program
+ Available on hundreds of sites
+ Offers three Skrill account levels with increasing benefits and lower fees: Skriller, True Skriller, and VIP Skriller
– This service doesn’t offer any of the additional features of the Skrill business account.
– It cannot be upgraded to a business account.
How Do Skrill Business Payments Work?
Skrill offers merchants an easy way to receive funds from their customers. The benefits include no set-up costs, low fees, and fast transfers. To begin accepting payments with Skrill, the merchant needs a business account connected to their bank account. The money received will be added to a bank account of their choice or transferred to a credit/debit card associated with the business’ profile. The payment is processed as per the following workflow:
- The customer proceeds to the checkout on the online store.
- They will select the Skrill payment option on the website.
- The payment processor will receive the transaction data.
- The details are forwarded to the issuing bank for authorization.
- The bank approves the transaction.
- The acquiring bank is told about the transaction.
- Funds from the customer’s bank are transferred to the merchant’s bank.
Available Payment Options
When you open a Skrill Business account, several payment options are available to you. You can choose the ones that suit your business best and make use of them as much as you like. Skrill also offers a variety of options to suit the needs of various types of customers, with high levels of security measures.
- Credit/Debit Cards
Skrill accepts all major credit cards, so you should have no problem using your card. You can use Visa, MasterCard, Diners Club Official, JCB, and Maestro credit or debit cards as payment options.
Skrill is one of the few top e-payment solutions to use a highly secure 3D Secure process with Mastercard, which helps ensure your online transactions are safe.
- Local Payment Methods
Through Skrill, your customers can choose from over 100 local payment methods.
- Bank Transfers
Once your bank account information has been added, you will be able to add and withdraw funds from Skrill to your bank account.
Residents of Austria, Finland, Denmark, France, Hungary, Germany, Italy, Portugal, Norway, Spain, and Sweden can use Rapid Transfer with zero fees under bank transfers.
Residents of Austria, Germany, Belgium, Italy, Netherlands, and Spain can use Klarna at 1% fees.
Paysafecash can be used by those in Skrill-serviced countries at 1% fees.
Digital wallets are very popular because of their free-to-use nature and because they can provide excellent security. Using the Skrill digital wallet and its 1-Tap technology, your customers can ensure that all transactions are made securely and that their money is protected even if the wallet is hacked or stolen.
Skrill Business Support
Skrill’s business support provides significant assistance to its account holders, including:
- Concise FAQs
- Live chat support
- Comprehensive integration and supporting guides
Get More Benefits With Baxity
You can get all the benefits of a Skrill business account with Baxity, with additional benefits for:
Gamblers and Traders:
- You can get 24-hour priority verification with zero deposits on business days.
- You can get a huge discount on the VIP Silver level.
- Partners in the gambling community can get a portion of the profits, a personal manager, and attractive conditions for the players.
What Is a Skrill Account for Business?
A Skrill business account is a secure and easy-to-use payment service geared towards businesses. It assists them in receiving payments from their customers and in sending payments to their partners.
How To Make a Skrill Business Account?
The first thing you as an applicant should do is go to the Skrill website and click on “Business” at the top of your screen. You should then click on “Get a Business Account.” On this page, Skrill asks for your business and ownership details. After filling out all of this information, press Submit and wait for Skrill’s approval. Once approved, you will get a merchant ID and can instantly begin your transactions.
Which Documents Do I Need To Open a Skrill Business Account?
If you create a business account, you need to provide Skrill with the following documents:
- Your business’s registration document
- Your ID and address proof
- A functional website and domain