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Why can’t I transfer funds from my funded Skrill account?

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Question
Why can’t I transfer funds from my funded Skrill account?

Answer

The reason you can’t transfer funds from your Skrill account could be either that:

  1. You don’t have enough funds to cover the Skrill deposit’s service fee (information about the service fee can be found in your Backoffice > Deposit > Skrill), or;
  2. The funds you have in your Skrill account were transferred from Visa/MasterCard.

According to new restriction from Visa/MasterCard, all binary options, rolling spot forex trading, financial spread betting, and Contracts for Difference merchants operating unregulated or unlicensed trading platforms are considered gambling merchants and must be coded under the Merchant Category Code (MCC) 7995 - Betting. This change has been effective from 1 December 2018. Resultingly, funds transferred from Visa/MasterCard to a Skrill account can’t be removed to your FXChoice account. You will need to use another available deposit method to fund your Skrill account.


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Article Details
Views: 162 Created on: Apr 22, 2019
Date updated: Apr 22, 2019

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Risk warning: Forex, spread bets and CFDs are leveraged products. They may not be suitable for you as they carry a high degree of risk to your capital and you can lose more than your initial investment. You should ensure you understand all of the risks.

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