When both the payment methods are best at their own, why is there a need for a comparison anyways? Because, ultimately one needs to crowned as the winner. One needs to be rewarded for that little extra that it has that distinguishes it. For online casino players, the debate is on fire about which e-wallet method to use amongst the two.
Although both the methods of online payment are so mighty, still many businesses avoid using them. One of the reasons why they do is because of the charges of their services. However, there are more factors responsible for this. Howsoever, as far as consumers are concerned, these payment methods are in their good books.
Consumers especially love PayPal. From many of the reasons why PayPal is liked by consumers greatly, one is that they are not required to give their financial information straightaway to dealers or sellers. This proves to be advantageous to them because they are supposed to rely on just a single entity for their financial credentials and not on many companies. Once they make an account on PayPal and all their details get registered, they are implied to use that account only for all their dealers without the need at all to let all your information deliver to each dealer individually and separately. Furthermore, the PayPal users are exempted from the need to have an ownership of a credit card or a debit card in order to make their accounts functioning. Rather, a regular bank account is all they need for the transfer of money whether sending or receiving.
Why then is PayPal observed with so much negativity by the merchants? Perhaps because their way of conducting their businesses is a little inappropriate and once if they rectify everything and make everything fall into order, never will they ever method.
The bad news, to your utter surprise, is that PayPal is a huge disappointment with regards to their customer service. Getting your issues resolved seems like huge thing with them. There seems to be little room for common sense in their staff. They are seemed to abide by the rules very literally, without considering that special cases can and does take place everywhere, in every type of business. Skrill is even worse at this thing. More complaints are received for Skrill's poor and negligent customer service as compared to PayPal. What both of them does is they lock your accounts, which makes soling your issues even harder. Counting on these methods is a blunder if you have not had any issues yet and everything is going flowy. There is no good in keeping your money lying in their system for no obvious reason. Maturity will be to immediately transfer your money to your account instead of letting it stick with their system.
On the basis of language
All the languages are supported by PayPal practically, but Skrill only supports 7 major European languages.
Skrill offers a choice of 40 currencies to make your transaction in, whereas, PayPal offers half of the number of these choices.
Charges on withdrawal
On withdrawal of money, Skrill charges you slightly more (4.9%) than PayPal (3.4%) of the total amount of withdrawal.
Transferring money between accounts
There are absolutely no charges for transferring your cash between accounts with the PayPal service. However, Skrill has 5 percent fee charges for this.
Almost an entire day is taken by Skrill to process your transfer of cash from your Skrill account to your bank account, whereas, PayPal hardly takes more than two hours. If the money that you want to transfer was sent by the same origin that has sent sometime before too, then through PayPal, the transfer into your bank account will be even swifter.
Skrill VIP program
Skrill offers a VIP program with a complete set of perks and benefits. Based on the amount of money you spend; the VIP offers get more and more luxurious. Special promotions, extra security etc. are part of this VIP program. There are no such loyalty programs offered by PayPal, however, by using Mastercard, some loyalty points can be earned.
Online gambling providers
Most of the online gambling providers offer Skrill instead of PayPal. In fact, Skrill tops in that category.
Registration and verification time
The duration for getting your account registered and verified is double of Skrill (1 day) for PayPal (2 days).
Keeping all these points in mind, make the best decision for yourself.
Emily Jack is the author of this blog-post Paper Writing Services. She is an amazing content writer and helps students with their difficulties through her work.