Skrill vs Wise
A side-by-side look at how these two wallets stack up — and which one wins for which job.
| Feature | Skrill | Wise |
|---|---|---|
| Score | 3.6 / 5 | 4.5 / 5 |
| Best for | International online payments | Cheap, transparent international transfers |
| Monthly fee | Free; EUR 5/mo inactivity after 12 months | Free (one-time card fee in some regions) |
| Exchange rate | Up to 3.99% | Mid-market + transparent fee (often <0.5%) |
| Send / receive | Free to other Skrill users | Low variable fee (~0.33%+) |
| Withdrawals | Varies by method | Free up to a monthly cap, then small fee |
| Card | Yes — prepaid Mastercard (region-dependent) | Yes — physical & virtual debit Mastercard |
| Availability | 120+ countries | 160+ countries |
| Currencies | 40+ currencies | 40+ currencies |
| Regulation | UK FCA (Paysafe Group) | FCA (UK), NBB (Belgium), FinCEN (US) |
| Founded | 2001 | 2011 |
Skrill
Skrill is a long-established Paysafe-owned e-wallet popular for online payments, trading and cross-border transfers, holding 40+ currencies with optional crypto and a prepaid Mastercard. It scores well on acceptance and features but its FX markup (up to 3.99%) and assorted withdrawal/inactivity fees make it pricier than newer neobanks. A solid choice where merchant acceptance matters more than cost.
Pros
- Widely accepted by online merchants and trading platforms
- Buy/sell crypto in-wallet
- Holds 40+ currencies
Cons
- FX markup up to 3.99% is high vs neobanks
- EUR 5/mo inactivity fee after 12 months
- Withdrawal fees vary and add up
Wise
Wise (formerly TransferWise) is the benchmark for transparent, low-cost international transfers, using the real mid-market rate plus a small visible fee. Its multi-currency account holds 40+ currencies with local account details, making it ideal for freelancers and frequent travellers. It is an e-money provider rather than a full bank, so it lacks credit products and bank-style deposit insurance.
Pros
- Mid-market exchange rate with low transparent fees
- Hold and convert 40+ currencies
- Local account details in multiple currencies
Cons
- Not a full bank (no deposit insurance like a bank)
- ATM withdrawals free only up to a monthly cap
- No credit or overdraft features
The bottom line
Overall, Wise edges ahead with a score of 4.5 versus 3.6 — but the right choice depends on your priorities. Check both against your own country and use case before deciding.