What are the charges of PayPal to Skrill and Skrill to PayPal money transfer?
Here's a comprehensive breakdown of the fees associated with transferring funds between PayPal and Skrill, particularly focusing on users in India:
PayPal to Skrill Transfer Fees
Direct transfers from PayPal to Skrill are not supported. To move funds from PayPal to Skrill, you would need to:
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Withdraw funds from PayPal to your Indian bank account.
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Deposit funds into Skrill from your bank account.
Fees involved:
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PayPal to Bank Transfer: Typically, PayPal does not charge a fee for withdrawing funds to a linked bank account. However, currency conversion fees may apply if the withdrawal involves currency conversion.
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Bank to Skrill Deposit: Skrill charges a fee of 1.75% (minimum £3.50) for withdrawing funds to a bank account. Depositing funds into Skrill from a bank account may also incur fees, depending on the method and country.
Note: This method can be time-consuming and may involve multiple steps, each with associated fees.
Skrill to PayPal Transfer Fees
Skrill does not support direct transfers to PayPal. To move funds from Skrill to PayPal, you would need to:
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Withdraw funds from Skrill to your Indian bank account.
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Deposit funds into PayPal from your bank account.
Fees involved:
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Skrill to Bank Transfer: Skrill charges a fee of 1.75% (minimum £3.50) for withdrawing funds to a bank account.
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Bank to PayPal Deposit: PayPal charges a fee of 2.9% + $0.30 USD for receiving payments funded by credit or debit cards. For bank account transfers, the fee is typically lower, but may vary depending on the country and currency.
Note: Similar to the PayPal to Skrill transfer, this method involves multiple steps and associated fees.
???? Alternative: Using a Trusted Exchange Service
To avoid the complexities and fees associated with bank transfers, consider using a reputable exchange service like ChangeBuz.com. These platforms facilitate direct transfers between PayPal and Skrill with lower fees and faster processing times.
Benefits:
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Lower Fees: Typically lower than bank transfer fees.
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Faster Processing: Transfers are often completed within minutes.
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Direct Transfers: Eliminates the need for multiple steps and reduces the risk of errors.
Note: Always ensure the exchange service is reputable and has positive user reviews to avoid potential scams.
???? Fee Comparison Table
| Transfer Direction | Method | Estimated Fees | Processing Time |
|---|---|---|---|
| PayPal → Bank → Skrill | Bank transfer | PayPal: Free; Bank: Varies; Skrill: 1.75% + £3.50 | 3–5 business days |
| Skrill → Bank → PayPal | Bank transfer | Skrill: 1.75% + £3.50; PayPal: 2.9% + $0.30 | 3–5 business days |
| PayPal ↔ Skrill (via Exchange Service) | Direct transfer through exchange service | Typically lower than bank transfers | Minutes |
Note: Fees and processing times are approximate and can vary based on the specific banks and services used.
Conclusion
While direct transfers between PayPal and Skrill are not supported, using a trusted exchange service like ChangeBuz.com can provide a more efficient and cost-effective solution. Always compare fees and processing times before choosing the method that best suits your needs.