Note: Skrill typically charges a markup of 3.99% above the mid-market rate for currency conversions.
Effective Exchange Rate:0.0000
Exchange Markup Cost:0.00
Transfer Fee Cost:0.00
Total Cost (vs Mid-Market):0.00
Recipient Receives:0.00
Understanding Skrill Exchange Rates
When sending money internationally using Skrill, understanding the fee structure is crucial to ensuring your recipient gets the amount you intend. Unlike traditional banks that hide fees in complex terms, Skrill generally applies a specific currency conversion fee on top of the wholesale exchange rate.
How the Calculation Works
This calculator breaks down the costs involved in a Skrill transfer using the following logic:
Mid-Market Rate: This is the "real" exchange rate you see on Google or financial news sites. It is the rate banks use to trade with each other.
Currency Conversion Fee: Skrill typically adds a fee of 3.99% to the wholesale exchange rate. This is known as a spread or markup. This means if the rate is 1.00, Skrill might apply a rate of roughly 0.96.
Transfer Fee: Depending on your payment method (credit card, bank transfer) and your VIP level, there may be an additional percentage fee charged on the send amount.
Why is the "Recipient Receives" amount lower?
The total amount received is lower than the raw conversion because of the "Exchange Markup." For example, if you send 1,000 USD to EUR at a market rate of 0.90, the raw value is 900 EUR. However, with a 3.99% markup, the effective rate becomes lower, reducing the final payout. Our calculator helps you visualize exactly how much value is lost to these fees.
Skrill VIP Status
If you are a frequent user, Skrill offers VIP levels (Silver, Gold, Diamond) which significantly reduce the FX markup fee. While the standard fee is often 3.99%, VIP Gold members may pay as little as 1.99%. You can adjust the "Currency Conversion Fee" field in the calculator above to see how much a VIP status would save you.
Tips for Better Rates
Check the Mid-Market Rate: Always compare the rate offered by the provider against the current mid-market rate found on independent financial sites.
Verify VIP Eligibility: If you transfer large volumes, check if you qualify for VIP status to lower your FX fees.
Send in Same Currency: If possible, send money in the same currency to avoid conversion fees entirely, though the recipient may incur fees to withdraw it in their local currency.
function calculateSkrillFees() {
// Get Inputs
var amount = parseFloat(document.getElementById('sendAmount').value);
var marketRate = parseFloat(document.getElementById('marketRate').value);
var markupPercent = parseFloat(document.getElementById('fxMarkup').value);
var transferFeePercent = parseFloat(document.getElementById('transferFee').value);
// Validation
if (isNaN(amount) || amount <= 0) {
alert("Please enter a valid amount to send.");
return;
}
if (isNaN(marketRate) || marketRate <= 0) {
alert("Please enter a valid mid-market exchange rate.");
return;
}
if (isNaN(markupPercent)) markupPercent = 3.99;
if (isNaN(transferFeePercent)) transferFeePercent = 0;
// Logic
// 1. Calculate Transfer Fee (deducted from send amount or added? usually added, but for simple 'send' calc let's show cost)
// For this calculator, we assume the user has 'amount' and fees are deducted from it or calculated based on it to show "Recipient gets".
// Scenario: User sends [Amount].
// Skrill takes Transfer Fee % from that amount (or charges it on top, but let's assume inclusive for "How much arrives").
// Let's assume the user pays 'Amount', and fees reduce the payout.
var transferFeeCost = amount * (transferFeePercent / 100);
var amountAfterTransferFee = amount – transferFeeCost;
// 2. Apply Exchange Rate Markup
// Skrill Rate = Market Rate * (1 – Markup%)
// Example: Rate 1.00, Markup 3.99%. Effective Rate = 0.9601
var effectiveRate = marketRate * (1 – (markupPercent / 100));
// 3. Calculate Final Amount
var recipientReceives = amountAfterTransferFee * effectiveRate;
// 4. Calculate Hidden Costs (The difference between ideal market conversion and actual)
// Ideal conversion (no fees, perfect rate)
var idealConversion = amount * marketRate;
var totalCostInReceiveCurrency = idealConversion – recipientReceives;
// Markup Cost specifically in Receive Currency
// (Amount after transfer fee * Market Rate) – (Amount after transfer fee * Effective Rate)
var markupCost = (amountAfterTransferFee * marketRate) – (amountAfterTransferFee * effectiveRate);
// Display Results
document.getElementById('results').style.display = 'block';
document.getElementById('resRate').innerHTML = effectiveRate.toFixed(4);
document.getElementById('resMarkupCost').innerHTML = markupCost.toFixed(2);
// Convert transfer fee cost to receive currency equivalent for total cost comparison or display in source currency
// Usually better to display transfer fee in source currency, but for consistent total cost, we often look at the 'loss' in value.
// Let's just display the transfer fee numeric value in source currency context, but labeled clearly.
// Actually, to make "Total Cost" accurate, we need units.
// Let's display simple numbers.
document.getElementById('resTransferCost').innerHTML = transferFeeCost.toFixed(2) + " (Source Currency)";
document.getElementById('resTotalCost').innerHTML = totalCostInReceiveCurrency.toFixed(2) + " (in Receive Currency Value)";
document.getElementById('resFinalAmount').innerHTML = recipientReceives.toFixed(2);
}