Software · head to head
Skrill vs Betterment
The short version
- Only Skrill has a free tier, so it costs nothing to try first.
- Each has a real cost: Skrill a currency conversion fee of 4.49 percent applies to most conversions; Betterment digital automated investing charges $5 per month fee for accounts under $24,000 balance
- They diverge on capability: Skrill covers Money transfers, Betterment covers Automated investing.
Where they differ
Only the attributes on which Skrill and Betterment actually diverge.
| Attribute | Skrill | Betterment |
|---|---|---|
| Starting price | Free | $5/month |
| Pricing model | transaction | subscription |
| Free tier | Yes | No |
| Founded | 2001 | 2008 |
Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Unknown).
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 Skrill
- Money transfers
- Digital wallet
- Currency conversion
- Prepaid card
- Credit cards
Only in Betterment
- Automated investing
- Retirement planning
- Financial advisory
- Goal tracking
- Investment accounts
Both cover
- Bank accounts
- Web support
- IOS support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Skrill
- Sending money internationally from a prepaid digital walletnot Betterment
- Funding and withdrawing from online merchants and gaming sitesnot Betterment
- Buying and selling cryptocurrency inside a wallet accountnot Betterment
Betterment
- Small investors starting with automated investing at no minimum balancenot Skrill
- Fee-only digital wealth management for accounts under $24,000 via $5/month flat feenot Skrill
- Premium advisory access for high-net-worth individuals with $100,000+ balancenot Skrill
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
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
Betterment
- Digital automated investing charges $5 per month fee for accounts under $24,000 balance
- Premium advisory service requires minimum balance of $100,000 in eligible investments
- Foreign transaction fees apply to checking account (though reimbursed after the fact)
- High-balance fee discounts only available above $1,000,000 account balance
Pricing, plan by plan
Skrill
Free- Free AccountFree
- Money transfers
- Digital wallet
- Premier Account$undefined/month
- Higher limits
- Special rates
Betterment
$5/monthNo published plan breakdown. See the Betterment review.
Which should you pick?
Choose Skrill if
- You need money transfers.
- You want to start without paying.
- You work on Web, IOS, Android.
- You also want digital wallet.
Choose Betterment if
- You need automated investing.
- You work on Web, iOS, Android.
- You also want retirement planning.
Questions people ask
- Is Skrill or Betterment better?
- Neither clearly leads. Skrill starts at Free and Betterment at $5/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Skrill or Betterment?
- Skrill has a free tier; the other does not. Paid plans start at Free for Skrill and $5/month for Betterment.
- Does Skrill or Betterment run on more platforms?
- Skrill runs on Web, IOS, Android. Betterment runs on Web, iOS, Android.
- Can I use Skrill for free?
- Yes. Skrill has a free tier, so you can try it without paying. Betterment starts at $5/month.
- What is Skrill best used for?
- Skrill is most often used for sending money internationally from a prepaid digital wallet, funding and withdrawing from online merchants and gaming sites, buying and selling cryptocurrency inside a wallet account. Of those, sending money internationally from a prepaid digital wallet and funding and withdrawing from online merchants and gaming sites are not what Betterment is typically brought in for.
- What can Skrill do that Betterment cannot?
- Skrill covers Money transfers, Digital wallet, Currency conversion, Prepaid card. Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. Both handle Bank accounts, Web support, IOS support, Android support.