Skrill is a digital wallet that allows users to transfer and receive money online. It is gaining popularity as a payment method, particularly for digital casinos. But can it be used in Hong Kong?
If you are visiting Hong Kong, you will find a range of international online casinos serving the market. Yet as a global traveller, you may choose to use a digital payment method to credit your account, like Skrill. This wallet allows fast transfers of money to and from a user’s device. But can it be used for casino deposits, and how many online casinos accept it?
Online Casinos in Hong Kong
There are plenty of online casinos that serve the Hong Kong market. These are offshore casinos, making it imperative that you use the right ones, rated and reviewed by trusted online third parties. Not only will they rate and review bonuses and rank casinos based on their game selections, but they will also only include casinos that are transparent and fair.
These websites will also make it very easy to check online casinos by payment methods. It makes finding online casinos in Hong Kong that accept Skrill payments accessible. You should note that different payment methods will have varied processing times, both for deposits and withdrawals. Luckily, Skrill is one of the fastest, being a digital version. Many of the most well-known online casinos will accept Skrill.
Use of Skrill in Hong Kong
Skirll is available to anyone who resides in Hong Kong. Like most countries, it works in a very similar way to a bank account. You receive money, transfer money and can use held funds to pay for goods and services online. You can even send money to traditional bank accounts from it. The only real difference to a traditional bank is that it is more of an instant payment method, and does not provide financial products or savings accounts, loans and so forth.
To get started with Skrill, visit the app store. Download it to your phone and start opening your account. To open a Skrill account in Hong Kong, you will need to provide some personal information. This is a passport or ID card, along with a proof of address document.
The next step is to make a deposit into your Skrill account. You can do this using a range of cards or global payment services. These can include everything from Bitcoin to Neteller and Paysafecash. Note that Skrill charges 1% of any amount deposited as a fee.
You can then end and receive money using Skrill. Online purchases are free, but other transactions will charge a commission. Some of these can be quite high. For example, sending money to a bank account elsewhere in the world incurs a 5.5% charge.
Comparative Analysis: Skrill vs. Other Payment Methods
When considering the use of Skrill, it may not be the best payment method for your casino needs. In fact, each payment method has its own advantages and disadvantages. For example, Skrill has quite high fees for its use, which is weighed up by its inherent convenience.
Most popular methods include credit and debit cards. If you use these to top up a Skrill account, you may as well cut out the middleman along with the fees and go direct. Cards also provide an instant deposit, so you can get playing almost immediately once the payment is made. The downside is that some banks or cards may decline casino payments, as they are considered high risk. You may also find that any withdrawals take a few business days to process.
Bank transfers are a great option for those who want to remain secure. You don’t have to give over credit or debit card information. Instead, you can send money through a direct, SEPA or SWIFT transfer. Many casinos will also have higher limits for those who pay by bank transfer. Its drawbacks are that bank transfers take a long time to process, so you won’t be playing right away. You may also find high fees on the bank’s end for the processing of international transfers.
Many casinos also provide the option to pay in cryptocurrency such as Bitcoin or Ethereum. Of all payment methods, this is the fastest and most secure. In some cases, there are even whole casinos built on the blockchain which only accept cryptocurrency. You may even find that casinos give you a designated crypto wallet.
The problem is that not all casinos will accept this payment method. Cryptocurrency also remains inherently volatile. A deposit could be worth a certain amount when transferred to fiat currency one day, and much less the next. Thus, most people now choose to use cryptocurrency for investment purposes as opposed to funding their casino account with it.
Skrill is gaining in popularity and can definitely be used for online casinos in Hong Kong. Yet it may not be the right method for you. Decide on what you want in a payment method, then look online for a casino that accepts it. Pretty soon, you will have money in your account and can enjoy your gaming responsibly.
David Prior
David Prior is the editor of Today News, responsible for the overall editorial strategy. He is an NCTJ-qualified journalist with over 20 years’ experience, and is also editor of the award-winning hyperlocal news title Altrincham Today. His LinkedIn profile is here.
