Personal Finance · head to head
Revolut vs Skrill
Revolut
Personal Finance
Multi-currency financial app operating as a licensed bank in parts of the EU and as an e-money institution elsewhere
- From
- Free
- Rated
- -
The short version
- Each has a real cost: Revolut uK customer balances have historically been held under an e-money institution licence, meaning they are not covered by the Financial Services Compensation Scheme the way a traditional UK bank deposit is, even though Revolut was granted a restricted UK banking licence in 2024.; Skrill a currency conversion fee of 4.49 percent applies to most conversions
- They diverge on capability: Revolut covers Multi-currency accounts, Skrill covers Money transfers.
- Prices and features above were last checked on 1 September 2026.
Where they differ
Only the attributes on which Revolut and Skrill actually diverge.
Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Personal Finance).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Revolut
- Multi-currency accounts
- Revolut Bank EEA deposits
- Stock, crypto and commodity trading
- Budgeting and spending analytics
- Virtual and disposable cards
- Business accounts (Revolut Business)
Only in Skrill
- Money transfers
- Digital wallet
- Currency conversion
- Prepaid card
- Bank accounts
- Credit cards
- Web support
- IOS support
What people use each for
The jobs each tool is most often brought in to do.
Revolut
- Someone travelling or living across multiple currencies who wants low-cost exchange and spending in one accountnot Skrill
- A user in the EEA who wants their balance held with a licensed bank covered by a deposit guarantee schemenot Skrill
- A UK-based user who understands their balance sits under e-money safeguarding rather than FSCS bank protection, and is comfortable with thatnot Skrill
- An investor wanting stock or crypto trading integrated with everyday spending in a single appnot Skrill
Skrill
- Sending money internationally from a prepaid digital walletnot Revolut
- Funding and withdrawing from online merchants and gaming sitesnot Revolut
- Buying and selling cryptocurrency inside a wallet accountnot Revolut
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Revolut
- UK customer balances have historically been held under an e-money institution licence, meaning they are not covered by the Financial Services Compensation Scheme the way a traditional UK bank deposit is, even though Revolut was granted a restricted UK banking licence in 2024.
- Regulatory status differs by country of use, EEA versus UK versus other markets, so the actual protection on a given balance depends on where the account is domiciled, not on the brand alone.
- Customer service has been a recurring complaint, with account freezes for fraud checks sometimes leaving customers unable to access funds for extended periods with limited direct human contact.
- The free tier caps fee-free currency exchange at a monthly allowance, after which a fair usage fee applies, so heavy multi-currency users may need a paid plan to avoid extra charges.
- The breadth of features, banking, trading, crypto and business accounts, spans multiple regulatory regimes and legal entities, which makes the overall structure harder for a typical customer to fully understand than a single-licence traditional bank.
Skrill
- A currency conversion fee of 4.49 percent applies to most conversions
- An inactivity fee of EUR 5.00 is deducted monthly after six months with no login or transaction
- Card deposits carry a 2.50 percent fee
- SWIFT bank withdrawals cost 2.80 percent with a minimum fee of EUR 3.5
- Skrill to Skrill transfers cost 2.99 percent with a EUR 0.50 minimum on standard accounts, reduced to 1.45 percent only for True Skriller accounts
- Crypto trading fees are tiered by VIP status, from 1.50 percent standard down to 1.30 percent at Gold and Diamond VIP
Pricing, plan by plan
Revolut
Free- StandardFree
- Free multi-currency spending up to a monthly exchange allowance
- Basic budgeting tools
- UK balances held under e-money safeguarding, not FSCS-protected as a standard bank deposit
- Premium$7.99/month
- Higher free exchange allowance
- Travel insurance and card delivery perks
- Priority customer support
- Metal$14.99/month
- Cashback on card spending
- Higher limits across features
- Metal card and additional insurance cover
Skrill
Free- Free AccountFree
- Money transfers
- Digital wallet
- Premier Account$undefined/month
- Higher limits
- Special rates
Which should you pick?
Choose Revolut if
- You need multi-currency accounts.
- You want to start without paying.
- You work on iOS, Android, Web.
- You also want revolut bank eea deposits.
Choose Skrill if
- You need money transfers.
- You want to start without paying.
- You work on Web, IOS, Android.
- You also want digital wallet.
Questions people ask
- Is Revolut or Skrill better?
- Neither clearly leads. Revolut starts at Free and Skrill at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Revolut or Skrill?
- Revolut starts at Free and Skrill at Free.
- Does Revolut or Skrill run on more platforms?
- Revolut runs on iOS, Android, Web. Skrill runs on Web, IOS, Android.
- Can I use Revolut for free?
- Both have a free tier, so you can try either at no cost before committing.
- What is Revolut best used for?
- Revolut is most often used for someone travelling or living across multiple currencies who wants low-cost exchange and spending in one account, a user in the eea who wants their balance held with a licensed bank covered by a deposit guarantee scheme, a uk-based user who understands their balance sits under e-money safeguarding rather than fscs bank protection, and is comfortable with that, an investor wanting stock or crypto trading integrated with everyday spending in a single app. Of those, someone travelling or living across multiple currencies who wants low-cost exchange and spending in one account and a user in the eea who wants their balance held with a licensed bank covered by a deposit guarantee scheme are not what Skrill is typically brought in for.
- What can Revolut do that Skrill cannot?
- Revolut covers Multi-currency accounts, Revolut Bank EEA deposits, Stock, crypto and commodity trading, Budgeting and spending analytics. Skrill covers Money transfers, Digital wallet, Currency conversion, Prepaid card.
Answered from the vendors’ own pages
Revolut: Is my money safe with Revolut?
It depends on your country. EEA balances are held with a Lithuanian-licensed bank and generally covered by deposit guarantee up to 100,000 euro; UK balances have historically sat under e-money safeguarding rather than FSCS bank protection, though Revolut has been working toward full UK banking status since gaining a restricted licence in 2024.
Skrill: Is Skrill free to use?
Skrill operates on a freemium model. The digital wallet is free to open and use for basic features. The site refers to a fees page where transfer, conversion, and service fees are disclosed.
SourceRevolut: Is Revolut a bank?
In the EEA, yes, through Revolut Bank UAB, licensed in Lithuania. In the UK, it has historically operated as an e-money institution and was granted a restricted banking licence in 2024, with full UK banking status pending completion of a mobilisation period.
Skrill: What are Skrill's fees for transfers and conversions?
Skrill lists transfer, conversion, and service fees but does not display the specific amounts on the homepage. Detailed fee structures are available on Skrill's dedicated fees page at /en/siteinformation/fees/.
SourceRevolut: Does Revolut charge for currency exchange?
Exchange is free up to a monthly allowance on the standard tier, after which a fair usage fee applies; paid plans raise or remove that allowance.
Skrill: What services does Skrill offer?
Skrill provides international money transfers, online payment processing, cryptocurrency buying and selling, loyalty rewards through the Knect points program, and a mobile app. These services are included in the free account.
SourceSkrill: Is Skrill regulated?
Yes. Skrill Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for issuing electronic money and payment instruments. It is also registered with the FCA as a cryptoasset firm.
SourceRelated pages
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