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Personal Finance · head to head

Skrill vs TrueLayer

Skrill logo

Skrill

Personal Finance

Fast and secure money transfer

From
Free
Rated
-
Full reviewWebsite
TrueLayer logo

TrueLayer

APIs

Open banking payments and data across the UK and Europe, with the largest share of UK variable recurring payments

From
On request
Rated
-
Full reviewWebsite

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; TrueLayer variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.
  • They diverge on capability: Skrill covers Money transfers, TrueLayer covers Pay by bank.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Skrill and TrueLayer actually diverge.

Attributes where Skrill and TrueLayer differ
AttributeSkrillTrueLayer
Starting priceFreeOn request
Pricing modeltransactionquote
Free tierYesNo
CategoryPersonal FinanceAPIs
Founded2001Unknown

Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated).

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
  • Bank accounts
  • Credit cards
  • Web support
  • IOS support

Only in TrueLayer

  • Pay by bank
  • Variable recurring payments
  • Payouts and refunds
  • Account information
  • Account name verification
  • Signup and KYC support
  • Multi-country coverage
  • Hosted payment page

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 TrueLayer
  • Funding and withdrawing from online merchants and gaming sitesnot TrueLayer
  • Buying and selling cryptocurrency inside a wallet accountnot TrueLayer

TrueLayer

  • A UK subscription or top-up business that wants card-like recurring collection over bank rails using variable recurring paymentsnot Skrill
  • A trading or crypto platform funding accounts instantly by bank transfer where card deposits carry chargeback risknot Skrill
  • A marketplace paying sellers out to verified bank accounts with name checking to reduce misdirected paymentsnot Skrill
  • A lender verifying income and affordability from bank transaction data rather than uploaded statementsnot 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

TrueLayer

  • Variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.
  • Payment conversion varies substantially by bank, and a bank with a slow or broken authentication journey drags results down regardless of vendor, so aggregate coverage numbers say little about your actual mix.
  • Pay by bank has no chargeback mechanism, which merchants like until a customer disputes a purchase and finds no scheme protection, making it a poor fit for categories where buyers expect card style recourse.
  • Pricing is unpublished and varies by market and product, so multi-country merchants cannot model cost without a full sales engagement and often find rates differ significantly between countries.
  • Open banking authentication requires the customer to leave the checkout and authorise in their banking app, and that redirect remains the largest source of drop-off compared with a stored card.

Pricing, plan by plan

Skrill

Free
  • Free AccountFree
    • Money transfers
    • Digital wallet
  • Premier Account$undefined/month
    • Higher limits
    • Special rates

TrueLayer

On request
  • TrueLayer Payments and Data$undefined/year
    • Per-payment fees quoted by volume, market and product
    • Separate commercial terms for payment initiation, VRP and account information
    • Platform and minimum commitment terms negotiated per contract

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.
Skrill review

Choose TrueLayer if

  • You need pay by bank.
  • You work on Web, iOS, Android.
  • You also want variable recurring payments.
TrueLayer review

Questions people ask

Is Skrill or TrueLayer better?
Neither clearly leads. Skrill starts at Free and TrueLayer at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Skrill or TrueLayer?
Skrill has a free tier; the other does not. Paid plans start at Free for Skrill and On request for TrueLayer.
Does Skrill or TrueLayer run on more platforms?
Skrill runs on Web, IOS, Android. TrueLayer runs on Web, iOS, Android.
Can I use Skrill for free?
Yes. Skrill has a free tier, so you can try it without paying. TrueLayer 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 TrueLayer is typically brought in for.
What can Skrill do that TrueLayer cannot?
Skrill covers Money transfers, Digital wallet, Currency conversion, Prepaid card. TrueLayer covers Pay by bank, Variable recurring payments, Payouts and refunds, Account information.

Answered from the vendors’ own pages

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.

Source
TrueLayer: Is VRP available outside the UK?

No. Variable recurring payments are a UK capability. EU adoption is on a slower path, with UK commercial VRP expanding into ecommerce during 2026.

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/.

Source
TrueLayer: What does TrueLayer cost?

Not published. Per-payment fees are quoted by volume, market and product, usually with a platform component and a minimum commitment.

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.

Source
TrueLayer: Are there chargebacks on pay by bank?

No. Bank transfers have no card scheme chargeback mechanism, which removes that cost but also removes buyer recourse, so it suits some categories and not others.

Skrill: 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.

Source
TrueLayer: Which countries are covered?

The UK plus a substantial set of European markets under PSD2, though bank-level coverage and conversion vary by country and should be checked for your specific mix.

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