Comparison
Payz vs. Skrill: Comparing Two Leading E-Wallets
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: Comparing Two Leading E-Wallets
As digital transactions continue to rise, e-wallets have become an essential tool for online payments. Among the numerous e-wallet providers, Payz and Skrill stand out due to their extensive features and global reach. This article will compare these two leading e-wallets, focusing on their features, fees, security, and customer support.
Features
Both Payz and Skrill offer a wide range of features that cater to different user needs.
- Payz: Payz allows users to send and receive money, pay bills, and make online purchases. It also offers a prepaid card for offline transactions. One unique feature of Payz is its ability to handle cryptocurrency transactions.
- Skrill: Skrill also provides similar services, including sending and receiving money, online shopping, and a prepaid MasterCard. Additionally, Skrill has a feature for forex trading and sports betting.
Fees
Understanding the fee structure is crucial when choosing an e-wallet. Here's how Payz and Skrill compare:
- Payz: Payz charges a fee for transactions involving currency conversion. However, it offers free internal transfers and has no monthly maintenance fees.
- Skrill: Skrill charges a fee for both internal transfers and currency conversions. It also has a monthly inactivity fee if you don't use your account for 12 months.
Security
Security is a top priority for e-wallet users. Both Payz and Skrill have robust security measures in place.
- Payz: Payz uses advanced encryption technology to protect user data. It also has a two-factor authentication system for added security.
- Skrill: Skrill also uses high-level encryption and two-factor authentication. Additionally, it is regulated by the Financial Conduct Authority (FCA), ensuring compliance with stringent security standards.
Customer Support
Reliable customer support is essential for resolving any issues that may arise. Here's how Payz and Skrill fare:
- Payz: Payz offers 24/7 customer support via email and live chat. However, some users have reported slow response times.
- Skrill: Skrill provides customer support through email and a dedicated help center. It also has a community forum for user discussions. However, it lacks live chat support.
Conclusion
In conclusion, both Payz and Skrill offer a comprehensive range of features, with each having its unique strengths. Payz stands out with its cryptocurrency support and fee-free internal transfers, while Skrill shines with its forex trading feature and FCA regulation. Ultimately, the choice between Payz and Skrill depends on individual user needs and preferences. It's advisable to consider the features, fees, security measures, and customer support of each e-wallet before making a decision.
Discover the differences between Payz and Skrill, two leading e-wallets, and make an informed decision for your financial transactions. Also, learn how to maximize your business potential with Payz. Maximize Your Business Potential with Payz.