Skrill is a globally recognized digital wallet and payment platform that allows users to send and receive money, make online purchases, and even trade cryptocurrencies. It’s especially popular for international transfers and gaming-related transactions. While Skrill is available in Canada, many users find the experience less than ideal due to high transaction fees, foreign exchange markups, and limited Skrill Canada customer care support. Additionally, features like the Skrill card are not fully accessible to Canadian residents, making the service less competitive compared to local fintech alternatives. Whether you’re managing personal finances or running a small business, using Skrill in Canada can quickly become expensive and inconvenient. The good news? There are several Skrill Alternatives in Canada that offer low-cost transfers, better customer service, and more user-friendly apps. In this article, we’ll explore the top options available and help you find a digital payment solution that fits your lifestyle and financial goals.
What is Skrill?
Skrill is a UK-based online payment platform founded in 2001 and has been part of the Paysafe Group since 2015. Initially launched as Moneybookers, Skrill has evolved into a global digital wallet service that allows users to send and receive money, shop online, pay for services, and even buy or trade cryptocurrencies. One of its key features is the Skrill Prepaid Mastercard, available in GBP, EUR, USD, and PLN, allowing users to access their funds and make purchases globally. Skrill users can also link their bank account or credit card to fund their wallet or withdraw balances, making it a convenient bridge between traditional banking and digital finance. The platform is particularly favored by online gamers, freelancers, and those sending international transfers. Despite its global reach, some services like the Skrill card have limited functionality in Canada, prompting users to explore more accessible and affordable Skrill alternatives within the country.
Is Skrill Available in Canada?
Yes, Skrill operates in Canada, providing services such as money transfers, online payments, and cryptocurrency transactions. However, Canadian users often encounter high fees, including up to 4.99% for currency conversion and 2.99% for sending money. Additionally, while Skrill offers a prepaid Mastercard in various currencies, this feature is not accessible to Canadian residents. The Knect loyalty program allows users to earn points on transactions, redeemable for rewards. Managing accounts is convenient with the Skrill mobile app, available on iOS and Android. Given the fee structure and limited card access, it’s advisable for Canadians to explore other digital payment platforms that may better suit their needs.
The Exchange Solution That Puts More in Your Wallet
Let’s face it—traditional banks just don’t cut it when it comes to currency exchange. At CanAm Currency Exchange, we’ve built a smarter, more rewarding way to exchange your money. With rates up to 3% better than the banks, we help you keep more of what’s yours. Whether you’re exchanging USD to CAD or any other currency, our goal is simple: give you the cheapest rates in Canada without the usual runaround.
We believe exchanging money should be Quick, Transparent, and Stress-Free. That’s why we’ve stripped away the hidden fees and confusing fine print. What you see is what you get—clear rates, instant service, and a team that puts your needs first. With Safe & Secure systems in place, you can relax knowing your transaction is fully protected. And with our promise of Premium Service, you’ll never feel like just another number.
Need to crunch the numbers before you commit? Our handy Currency Converter App gives you instant access to live rates and fast conversions right from your phone.
Curious how it all works? Head over to our “How It Works” page to explore just how seamless money exchange can be with CanAm. If you’re ready to ditch the fees and boost your savings, this is the exchange solution that truly puts more in your wallet.
6 Best Skrill Alternatives Available in Canada
While Skrill is available in Canada, many users find its high fees, currency conversion markups, and limited card access inconvenient—especially for regular international transfers or frequent online payments. Skrill charges up to 4.99% in exchange rate fees and 2.99% for money transfers, which can quickly add up. Fortunately, Canadians have several better-suited options. Whether you’re sending money abroad, managing daily expenses, or looking for a low-cost digital wallet, these Skrill alternatives in Canada offer user-friendly platforms, transparent fees, and reliable customer service. Let’s explore the top six platforms that make transferring and managing money much easier and more affordable.
KOHO
Overview:
KOHO is a Canadian fintech app that blends everyday banking with financial wellness tools, making it a strong alternative to Skrill for Canadians. With a prepaid Visa card, KOHO lets you earn cashback on purchases, track spending, and automate savings directly from the app. It’s perfect for users looking for fee-free banking without the complications of traditional bank accounts. KOHO also offers credit-building tools and an early payroll deposit feature, mimicking some of the best aspects of Chime or Skrill—minus the high fees.
Key Features:
- Prepaid Visa with cashback
- No monthly fees (standard plan)
- Real-time spending insights
- Early payroll deposit
Fees:
Free basic plan; KOHO Extra at $9/month for enhanced perks. Foreign exchange fee: 1.5% (waived with KOHO Extra).
Why Choose KOHO?
Great for budgeting, rewards, and low-fee everyday spending in Canada and abroad.
Wise
Overview:
Wise (formerly TransferWise) is the top choice for Canadians who need transparent, low-cost international money transfers. Unlike Skrill, which hides costs in currency markups, Wise always uses the real mid-market exchange rate and clearly displays fees before you send money. You can also open a multi-currency account, hold over 40 currencies, and get a Wise debit card to spend worldwide. For freelancers, remote workers, or expats, Wise offers better rates, faster delivery times, and fewer surprises than Skrill.
Key Features:
- Mid-market exchange rates
- Multi-currency wallet
- Wise debit card for global spending
- Transparent pricing
Fees:
Between 0.35%–1.5% depending on currency and payment method.
Why Choose Wise?
Ideal for international transfers and multi-currency banking at a fraction of the cost of Skrill.
Neo Financial
Overview:
Neo Financial offers a modern Canadian digital banking experience, with a focus on rewards, savings, and convenience. The Neo Money account gives you high-interest savings and spending flexibility with no monthly fees. Neo’s credit card rewards program is highly competitive, offering up to 5% cashback at participating merchants. Unlike Skrill, which mainly focuses on transfers, Neo helps Canadians get more out of their daily spending while staying fee-free. Their sleek app makes it easy to track expenses and savings goals—perfect for tech-savvy users who want simplicity and value.
Key Features:
- High-interest savings account
- Credit card with up to 5% cashback
- No monthly fees
- Instant spending insights
Fees:
No account or card fees. Standard FX fees apply to foreign transactions.
Why Choose Neo?
Best for Canadians seeking rewards, savings, and a modern digital-first banking experience.
Tangerine
Overview:
Tangerine, owned by Scotiabank, offers full-service online banking with no monthly fees—making it a practical alternative to Skrill for both domestic and international financial needs. Tangerine customers can access chequing, savings, credit cards, and investment services, all through one simple app. Unlike Skrill, Tangerine supports Interac e-Transfers, bill payments, and cashback credit cards without hidden fees. It’s designed for Canadians who want a trusted bank’s features with fintech flexibility, and it’s backed by one of the country’s largest financial institutions.
Key Features:
- No-fee chequing and savings
- Credit cards with cashback
- Interac e-Transfers included
- Easy-to-use mobile app
Fees:
No monthly fees; standard FX fees for international use.
Why Choose Tangerine?
Perfect for those looking for a reliable, no-fee banking platform backed by a major Canadian bank.
EQ Bank
Overview:
EQ Bank is a Canadian digital bank known for its high-interest savings, no monthly fees, and low-cost international transfers powered by Wise. It combines the functionality of a chequing and savings account into one product, giving you the best of both worlds. With EQ, you can pay bills, send Interac e-Transfers, and transfer money abroad—all from the same account. Compared to Skrill, EQ Bank offers clearer pricing, better savings rates, and real integration with your day-to-day banking.
Key Features:
- High-interest hybrid account
- Wise-powered international transfers
- Free Interac e-Transfers
- No minimum balance
Fees:
No monthly fees; international transfers use Wise’s mid-market rates with small fees.
Why Choose EQ Bank?
Great for Canadians who want to save more and pay less on international money transfers.
PayPal
Overview:
PayPal is one of the most trusted online payment systems in the world and is often considered alongside Skrill for global transfers and online shopping. In Canada, PayPal supports peer-to-peer transfers, international payments, and business invoicing. However, like Skrill, PayPal does come with higher fees and currency markups, especially when sending money abroad. Still, PayPal is widely accepted and offers strong buyer/seller protection, making it a dependable choice for digital transactions—just not always the cheapest one.
Key Features:
- Global acceptance for shopping and transfers
- Buyer/seller protections
- Simple mobile wallet interface
Fees:
Free for domestic transfers (bank-funded); ~3%–4% for currency conversion + fixed international fees.
Why Choose PayPal?
Best for secure online transactions and peer-to-peer payments with wide global acceptance.
Comparing the Best Skrill Alternatives for Canadians
If you’re looking for a more cost-effective and user-friendly option than Skrill, you’re in luck Canada has several excellent digital banking and money transfer platforms. In this section, we’ll compare the top Skrill alternatives for Canadians, highlighting their strengths, fees, and standout features. Whether you’re focused on saving money on transfers, earning cashback, or simplifying your banking, these options provide a modern experience without the high fees associated with Skrill. Use the comparison table below to find the best solution for your personal or business financial needs.
| Alternative Name | Best For | Cost to Send Money in Canada | Cost to Send Money to the U.S. | Extra Perks |
| KOHO | Budgeting & cashback spending | Free | 1.5% FX fee (waived with KOHO Extra) | Prepaid Visa, credit building, early payroll deposit |
| Wise | Transparent international transfers | Low (~0.5%-1%) | Low (~0.35%-1.5%) | Mid-market rates, multi-currency account, global debit card |
| Neo | Cashback & savings | Free | Standard credit card FX fees | Up to 5% cashback, no monthly fees, modern mobile app |
| Tangerine | Full-service digital banking | Free | Standard bank wire fees apply | No-fee chequing, cashback cards, backed by Scotiabank |
| EQ Bank | High-interest savings + transfers | Free | Low via Wise integration | Hybrid account, no monthly fees, fast e-Transfers |
| PayPal | Online payments & international use | Free (bank-funded transfers) | ~3%-4% markup + fixed fee | Buyer/seller protection, wide global acceptance |
FAQ
Are these services more secure than Skrill?
Yes, most of these services such as Wise, PayPal, and EQ Bank offer bank-grade security, encryption, and fraud monitoring that meet or exceed industry standards. They’re regulated in Canada and provide reliable customer support, which can be a challenge with Skrill Canada customer care. Platforms like KOHO and Tangerine are backed by Canadian financial institutions and are CDIC-insured, offering added protection for your funds.
How do transfer speeds compare between Skrill and its alternatives?
Transfer speeds depend on the platform and destination. Skrill money transfers in Canada can take up to 2–5 business days. In contrast, Wise often processes international transfers within 1–2 business days, while KOHO, EQ Bank, and Tangerine support instant domestic transfers via Interac e-Transfer. For urgent international payments, Xoom and PayPal may offer faster delivery, especially for cash pickups.
Which of these services offers better exchange rates than Skrill?
CanAm Currency Exchange consistently offers better exchange rates than Skrill, with savings of up to 3% compared to traditional banks and online platforms. Unlike Skrill, which often includes hidden fees and less favorable conversion rates, CanAm is focused on transparency and value. Whether you’re converting USD to CAD or any global currency, CanAm delivers a more cost-effective solution backed by real-time rates, low margins, and a customer-first approach.
