Personal Finance · head to head
Skrill vs Charles Schwab
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; Charles Schwab broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
- They diverge on capability: Skrill covers Money transfers, Charles Schwab covers Commission-free trading.
Where they differ
Only the attributes on which Skrill and Charles Schwab actually diverge.
| Attribute | Skrill | Charles Schwab |
|---|---|---|
| Starting price | Free | On request |
| Free tier | Yes | No |
| Founded | 2001 | 1971 |
Identical on both: pricing model (transaction), platforms (Web, IOS, Android), 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 Skrill
- Money transfers
- Digital wallet
- Currency conversion
- Prepaid card
- Credit cards
Only in Charles Schwab
- Commission-free trading
- Retirement planning
- Wealth management
- Research tools
- 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 Charles Schwab
- Funding and withdrawing from online merchants and gaming sitesnot Charles Schwab
- Buying and selling cryptocurrency inside a wallet accountnot Charles Schwab
Charles Schwab
- Budget Managementnot Skrill
- Expense Trackingnot Skrill
- Investment Trackingnot 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
Charles Schwab
- Broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
- Options trades carry a $0.65 per-contract fee on top of the $0 online commission, per the App Store listing for Schwab Mobile
Pricing, plan by plan
Skrill
Free- Free AccountFree
- Money transfers
- Digital wallet
- Premier Account$undefined/month
- Higher limits
- Special rates
Charles Schwab
On request- Individual BrokerageFree
- Commission-free trading
- Research tools
- Schwab Advisor Services$undefined/month
- All Brokerage features
- Wealth management
- Personal advisors
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 Charles Schwab if
- You need commission-free trading.
- You work on Web, IOS, Android.
- You also want retirement planning.
Questions people ask
- Is Skrill or Charles Schwab better?
- Neither clearly leads. Skrill starts at Free and Charles Schwab at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Skrill or Charles Schwab?
- Skrill has a free tier; the other does not. Paid plans start at Free for Skrill and On request for Charles Schwab.
- Does Skrill or Charles Schwab run on more platforms?
- Both run on Web, IOS, Android, so platform support will not decide this one for you.
- Can I use Skrill for free?
- Yes. Skrill has a free tier, so you can try it without paying. Charles Schwab starts at On request.
- 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 Charles Schwab is typically brought in for.
- What can Skrill do that Charles Schwab cannot?
- Skrill covers Money transfers, Digital wallet, Currency conversion, Prepaid card. Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Research tools. Both handle Bank accounts, Web support, IOS support, Android support.