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Cashing out to bank big sum from skrill

Discussion in 'Skrill / Moneybookers' started by kush, Apr 16, 2018.

  1. kush

    kush New Member

    Hello, anyone can suggest me in what country I could open bank account to withdrawal my funds from skrill? The money earned in online gambling. The sum is rather substaintial, I'm talking hundreds of thousands.
     
    auric likes this.
  2. void

    void Active Member Entrepreneur

    this money is no problem to any EU bank or EMI - you have to be ready to provide information about source of wealth (and statements, screenshots from gambling sites)
     
  3. kush

    kush New Member

    I'm non EU citizen, can I open bank account without traveling to destination country? Can it be done online only? Also those money I won, been on skrill for several years, I didn't do with them anything (they are like dead waste), was waiting to get back to gambling again, but now I'm interested in other things, will bank allow me to make wire transfers to crypto-exchanges trading platforms? Because in my original country I'm afraid they won't allow me to send big money outside the country if I will want to make wire to bitstamp for example.
     
  4. kush

    kush New Member

    what is EMI by the way?
     
  5. auric

    auric Offshore Agent Mentor Group Business Angel

    You can open an account in Cyprus and use transferwise inbetween in this setup you don't need to tell anyone where the money comes from or at least no need to mention gambling at all.
     
  6. void

    void Active Member Entrepreneur

    transferwise will ask about the source after you send some amount in total (say bigger tens of thousands)
     
  7. void

    void Active Member Entrepreneur

    if your goal is to move this money to crypto exchanges then I'd open mistertango or transferwise (using your personal IBAN provided) - withdrawal from skrill will work without problems
    when EMI is loaded use their card or direct wire transfer
     
  8. void

    void Active Member Entrepreneur

    also you can get their card from skrill and use this one to load the exchanges
    limits depend on your Skrill VIP status however
     
  9. kush

    kush New Member

    This is interesting, I tried to use moneypolo.com, they provide you with iban and swift and bank account, but skrill do no cash out there, since it's not real bank account, only virtual as I understood it (i'm still waiting on their response). Is mistertango like moneypolo?
     
  10. kush

    kush New Member

    crypto exchanges accept wire transfers from banks, not visa/mastercard deposits (or if they do, the fees will be huge), so I'm thinking the most efficient way for me is to open bank account -> withdrawal there money from skrill -> wire from bank to bitstamp or kraken or another bitcoin exchange.
     
  11. void

    void Active Member Entrepreneur

    I know nothing about moneypolo, MT is a pretty standard EMI providing you personal IBAN starting with LT....
    skrill doesn't have a clue if there is a bank or anything else behind this IBAN or if it's yours or not (however be aware what T&C say)
    use reasonably sized withdrawals and you'll be good
     
  12. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    @kush What country are you from? India?
     
  13. kush

    kush New Member

    no, I'm from former USSR country
     
  14. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    Ok all good.
     
  15. extremedox101

    extremedox101 Trusted Member Business Angel

    how you felt safe keeping 6 figures in skrill ?

    depends, what is high fees for you? cex accept mc/visa.
     
  16. kush

    kush New Member

    skrill is safe, they are part of paysafe, i been using it for years and years, never had any problems. also I'm not able to use their prepaid card, because it's not available for non eu countries.
     
  17. kush

    kush New Member

    I can't, card not available in my coutnry.
     
  18. kush

    kush New Member

    can anyone tell me what is EMI? I don't understand
     
  19. extremedox101

    extremedox101 Trusted Member Business Angel

    this true the cards sent to EEA countries, not issued worldwide . i mean that lots of money to leave in non bank/ EMI regardless of reputation you link to them .

    EMI= electronic money institution
     
  20. kush

    kush New Member

    I'd rather hold money on skrill then on some bank, but, given the circumstances, I need bank account.