Skrill once again waives fees for Italian lockdown transfers

|

Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Skrill, which is owned by the company Paysafe, will give customers in Italy a no-cost payments experience for both incoming and outgoing transactions until early December.
  • The move follows the firm’s decision to do the same thing when the last lockdown took place earlier in 2020, and it is understood that small businesses in particular could benefit.
  • The firm’s chief executive officer said that the move will help “ease the pressure” posed by the lockdown.

Online money transfers to or from Italy will once again be free during lockdown if customers use Skrill to place the transaction.

The firm, which operates a cross-border payments service called Skrill Money Transfer, said that it will reprise the move – which it did during the lockdown earlier in the year – with immediate effect.

The fee-free service will be in place until 3rd December of this year, when the Italy-wide lockdown rules are set to expire.

The free nature of the service will be applied to both incoming and outgoing transactions.

According to press reports, Skrill, which is owned by the payments service Paysafe, intends for small companies to benefit primarily from the development.

In addition to the headline fee waivers, there will also be some other cost reductions on offer.

Some product strands – in particular, the wallet service and the Quick Checkout service – will also be free for two months.

This will only apply, however, to companies – and they will only receive the benefit if they use the service for the first time before the year is out.

In another move, sellers that begin taking Skrill as a payment option for their customers will also receive a marketing benefit.

They will be told that they can have their firm’s messaging shared with people from all across the globe.

In a statement to the press, a leading figure at Skrill acknowledged the worries that many Italian people had about the impending lockdown.

Lorenzo Pellegrino, who serves as the firm’s chief executive officer, said the moment was significant.

“Italians are bracing themselves for the coming weeks as restrictions begin to tighten across the country. It has never been more important to protect our loved ones and support local businesses,” he said.

Pellegrino, who is himself Italian, expressed his hopes that the move would help both firms and individuals.

“We’re keen to ease the pressure that both businesses and consumers are experiencing at this time and ensure that as many funds as possible are going to the right place,” he said.

Skrill was first set up in 2001, meaning that it is now almost two decades old.

It operates receiving services in more than 40 nations around the world.

As well as allowing people to send cash to other Skrill accounts, it also permits transfers to bank accounts.

Users can also choose to send money to e-wallets.

It’s important to have good information on hand when making cross-border payments decisions during these unprecedented times – to check out our review of Skrill’s mobile app, click here.


Most Read

Use Our Currency Comparison Tool

Select country...

Select country...

Send

Editor's Choice

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.