I made a blog post about how I loved MoneyBookers’ services. But that was before.
I now abhor Skrill (MoneyBookers) because of the following reasons:
- Lowest exchange rate. Before, the exchange rate between the American dollar and the Philippine peso was slightly higher than PayPal. My last transaction was a pain in the arse. Skrill’s currency converter was way too low. Case in point: $1 =PHP38. The BSP exchange rate that time was $1: PHP42.
- Longer time frame. Before, bank transfer only took 1 ½ days, even if I withdrew money on weekends. With my last transaction, I waited 4 BUSINESS days before it reached my bank. With PayPal, the time frame for money transfer was always 2 days.
If you are planning to use Skrill (MoneyBookers), you should stop and think twice. Even though its bank transfer fees are lower than PayPal, it is not worth it, considering the above mentioned reasons. Better stick to PayPal and endure its high fees.
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