How Do I Change My Currency on My Skrill Account?
Skrill is an online money transfer platform. Before, you had to open another account to change the currency with which to transact. However, you can now change the currency by becoming a Skrill VIP and using the exchange feature. If you are unable to change your currency with the two ways, contact Skrill customer service.
Skrill is an electronic payment platform headquartered in London that focuses on low cost international money transfers. You can use Skrill for gambling, trading, shopping and gambling.
When you set up a Skrill account, you will be asked to select a currency that you will be using for your transactions going forward. Most people choose the US dollar for its prevalence and convenience.
Until a while ago, with a basic Skrill account, you could not change the currency on your account. The only way to do so was to close your Skrill and open a new one selecting a different currency during registration. This had significant disadvantages such as loss of account information.
On the other hand, you are currently able to change the balance on your account in two ways. You can either upgrade your Skrill account to a VIP account or to use the 'Exchange' Feature.'
Skrill's VIP Program
The Skrill VIP program is a very exclusive club. It has plenty of benefits including 24/7 dedicated customer support and access to lower fees.
To become eligible to be a Skrill VIP, you must have a valid Skrill account and transfer at least € 6,000 to merchants in a single quarter (3 months). You may conduct your transactions in other currencies but when converted, it should meet the € 6,000 requirement.
You will automatically become a Skrill VIP when you meet the transfer requirements. You will then become a VIP member for that quarter and also for the following quarter. You will then lose eligibility unless you meet the requirement for that quarter and then you become a VIP for the next two quarters.
You will know that you are a Skrill VIP member by the VIP icon in your account status. You can then hold accounts in different currencies.
Exchange Feature
The Exchange feature in Skrill allows you to add extra account balances in different currencies to your primary account currency. You can do this for several reasons including to avoid conversion fees.
Using the Exchange feature, you can choose which currency you want to make deposits and withdrawals with. You can also decide which currency you will use during purchases or to send money to others.
You will pay a fee of 3.99% to use the feature in addition to the wholesale exchange rates. This is the only drawback to the Exchange feature.
There is no limit to the number of currencies you can add to your account and the number of exchange transactions you can start.
The minimum amount for the exchange feature as far as conversions are concerned is €0.50. there are no maximum transaction limits.
There are transactions that do not support Skrill's Exchange feature. These include Skrill card payments and Cryptocurrency exchanges.
It is important to note that the Exchange feature can only be used to switch secondary currencies. You cannot switch the primary account currency with another currency.
The process of adding a secondary currency to your account using the Exchange feature is as follows:
1. Open your Skrill account and log in
2. Head to the 'Exchange' section of your Skrill account
3. Choose the currency you want to exchange and enter the amount you want to convert
4. When you complete the exchange, a separate balance will be created for every secondary currency
5. You can confirm the account balances in the 'Dashboard' and 'Transaction' sections of your account.
If you have any trouble whatsoever upgrading your Skrill account to VIP or using the Exchange feature, you should contact Skrill customer service immediately.
They have a phone number and an email address where you can reach them. The phone number is recommended.
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