Comparison
Payz vs. Skrill: Choosing the Right E-Wallet for Your Online Deposits and Withdrawals
Payz
FCA-regulated · Since 2000
Best for: European bettors who want the Paysafe alternative with a Mastercard and free standard-tier P2P
The former ecoPayz — rebranded to Payz in 2023 — still the third-largest e-wallet in online gambling but dragging a complicated five-tier VIP system and a high base FX rate.
Skrill
Paysafe-owned · FCA-regulated · Since 2001
Best for: European bettors and anyone mixing casinos, sportsbooks and crypto in one wallet
Neteller's sister wallet, built on the same Paysafe rails but with a slightly cheaper fee schedule on most local deposits and a slimmer three-tier VIP ladder.
Head to head
Fee schedule
Top VIP tier
Gold
EUR 10,000 eligible deposits / quarter
- 1.49% eAccount FX (saves 1.5 percentage points)
- Free Payz-to-Payz P2P transfers
- Higher transaction and balance limits
Gold VIP
€45,000 / quarter
- 2.49% FX rate
- Same-day withdrawals
- 1.30% crypto buy / sell
Payz · Pros
- Free Payz-to-Payz P2P transfers at Gold VIP and above (no volume grind for Silver)
- Third-largest gambling e-wallet by casino coverage
- Payz Mastercard available for Silver VIPs and above (physical + virtual)
- FCA-regulated (PSI-Pay Ltd) with 25+ year trading history as ecoPayz
- 45 currencies supported plus Payz Plus virtual card tied to wallet
Skrill · Pros
- Free SEPA bank deposits in the EEA and many local methods at 0%
- Cheaper than Neteller for most European bettors at the Standard tier
- VIP Knect loyalty programme layers on top of the three-tier VIP programme
- Skrill Prepaid Mastercard with free POS spending and free virtual first card
- Same Paysafe-group regulation and consumer protection as Neteller
Payz · Watch-outs
- Base FX rate of 2.99% is the highest in the category at standard tier
- Classic accounts cannot withdraw to bank at all (must reach Silver)
- 1.69 – 6% card deposit fee plus $0.36 per transaction surcharge
- Five-tier VIP ladder is confusing vs competitors' three or four
- Bank withdrawal costs €5.90 – €10 flat at Silver/Gold/Platinum
Skrill · Watch-outs
- Standard FX fee of 3.99% on non-wallet currency transactions
- USD 6.70 bank withdrawal fee and 7.5% card withdrawal at Standard tier
- Crypto On-Ramp unavailable to UK residents
- Many sportsbook welcome bonuses still exclude Skrill deposits
- Prepaid card ATM fee picks up a €1 minimum from 1 April 2026
Our verdict
Payz
Payz is the product formerly known as ecoPayz, rebranded in mid-2023 under the same parent (PSI-Pay Ltd, FCA-regulated in the UK). It's the third-largest e-wallet in online gambling after Neteller and Skrill, and for a lot of players in Europe, Canada and Asia it's the pragmatic third option when their preferred operator doesn't list the Paysafe wallets. The standout: a 2.99% standard-tier FX rate that's meaningfully lower than Skrill / Neteller's 3.99%, and free Payz-to-Payz P2P from Gold VIP upwards. The catches: the Mastercard is gated to Silver VIP+ and Mastercard FX is a flat 2.99% at every tier (the Gold/Platinum 1.49% and True VIP 1.25% discounts only apply to the eAccount, not the card), the tier system is five-deep (Classic, Silver, Gold, Platinum, True VIP) which is genuinely the most confusing ladder in the category, and Silver P2P still costs 1.50% (min €1.50). In 2026 Payz remains a solid secondary wallet; it's rarely anyone's first choice but it's widely accepted enough to matter.
Skrill
Skrill is the pragmatic twin of Neteller. It accepts almost the same list of operators, runs on the same Paysafe infrastructure, and is often the cheaper choice for non-UK European players because of free SEPA bank deposits and lower local-method upload fees. The VIP ladder is shorter — just Silver, Gold and Diamond — but the benefits step down in line with Neteller's Silver/Gold/Diamond equivalents. The crypto product is the awkward one: Skrill's Crypto On-Ramp is unavailable to UK residents, and the Crypto Balance buy/sell fee is tiered at €0.99 / €1.99 / 1.50% which is only competitive on larger trades.
The longer story
Table of Contents
Payz vs. Skrill: Choosing the Right E-Wallet for Your Online Deposits and Withdrawals
With the rise of digital transactions, e-wallets have become an essential tool for online payments. Among the numerous e-wallet providers, Payz and Skrill stand out due to their unique features and global acceptance. This article will compare these two popular e-wallets to help you choose the right one for your online deposits and withdrawals.
Understanding Payz and Skrill
Before diving into the comparison, let's understand what Payz and Skrill are.
- Payz: Payz is a versatile e-wallet that allows users to make online payments, send and receive money, and even trade cryptocurrencies. It supports multiple currencies and is accepted by many online merchants worldwide.
- Skrill: Skrill is a well-established e-wallet known for its security and convenience. It offers a wide range of services, including online payments, money transfers, and cryptocurrency trading. Skrill is accepted by numerous online merchants and supports over 40 currencies.
Comparing Payz and Skrill
Now, let's compare Payz and Skrill based on several key factors.
Security
Both Payz and Skrill prioritize user security. Payz uses advanced encryption technology to protect user data, while Skrill is authorized by the Financial Conduct Authority, ensuring high security standards. However, Skrill has a slight edge due to its two-factor authentication feature, which adds an extra layer of security.
Transaction Fees
Payz charges a small fee for certain transactions, such as currency conversion and withdrawal. On the other hand, Skrill also imposes fees for some transactions, but its fees tend to be higher than Payz's. Therefore, Payz may be a more cost-effective option for those who frequently make online transactions.
Customer Support
Both e-wallets offer customer support, but their quality varies. Payz provides 24/7 customer support via email and live chat, while Skrill offers support through email and a dedicated help center. However, some users have reported slow response times from Skrill's customer support.
Usability
Both Payz and Skrill have user-friendly interfaces and offer mobile apps for on-the-go access. However, Skrill's app has a higher rating on app stores, indicating better user satisfaction.
Conclusion: Which E-Wallet is Right for You?
Choosing between Payz and Skrill depends on your specific needs. If you prioritize lower transaction fees and 24/7 customer support, Payz may be the better choice. However, if you value security and usability, Skrill might be more suitable. Regardless of your choice, both e-wallets offer a convenient and secure way to manage your online transactions.
Remember, the best e-wallet is the one that fits your personal and financial needs. So, take the time to research and choose wisely.
Deciding between Payz and Skrill for your online deposits and withdrawals? Make an informed choice that suits your needs. Learn more about the benefits and features of each e-wallet. Don't compromise on your online transactions. Choose wisely. Enjoy Peace of Mind with Payz's Secure Transactions.