Rapid Transfer Brokers 2022 - Which Brokers Accept Rapid Transfer?

Rapid Transfer is an instant online payment system launched by Skrill and supported by other well-known brands, including Neteller. With no sign-up needed and a fast login to digital banking, investors can make direct money deposits into their trading accounts. Find out if Rapid Transfer by Skrill is a safe option, as we review the payment process, fees, deposit limits, rewards points and more. We have also compiled a list of the best brokers that accept Rapid Transfer deposits.

What Is Rapid Transfer?

Rapid Transfer is an instant online payment brand launched by Skrill Ltd, a Paysafe company. With over 170 supported banking institutions, including Deutsche Bank and Barclays, the system allows users to move money fast and securely directly from their bank account.

Skrill has been in operation since 2001 and has been part of the Paysafe Group since 2015, along with former competitor, Neteller. The Rapid Transfer service is delivered through an integrated and secure platform, supporting fast web and mobile device transactions. This makes it a popular payment solution with active traders and investors.

Pros Of Trading With Rapid Transfer

No Registration

The payment method does not require any account sign up or mobile (iOS/APK) download. Only your online banking login details are needed to make a payment, which is ideal for traders who want to make a direct deposit without topping up a separate e-wallet account.

Fast

Payments can be made in three easy steps once you’ve been redirected from the broker’s page. Funds are authorized in seconds, meaning brokers benefit from instant settlement too.

Secure Tracking

It is one of the safest methods available, as investors benefit from the familiar security framework of their online banking service. Transactions are encrypted and bank details are never stored.

Supported Countries & Currencies

Skrill Rapid Transfers supports payments to 18 countries, including the UK and France, and 9 different currencies including GBP, EUR and USD. In 2019, Rapid Transfer also launched in the USA, in partnership with Skrill USA Inc.

Note, Rapid Money Transfer by Ecobank is available across Africa, including Ghana and South Africa.

Flexibility

Skrill and Neteller customers can also deposit money into their digital wallets using the service, which is a handy feature if traders already have a Skrill account, for example.

International Rewards

Skrill customers can enjoy reward points via the Knect loyalty program, where you can exchange Rapid Transfer points for perks, cash vouchers, bonuses and more. User reviews of the ultimate rewards system are positive. Many of the top trading brokers and platforms also offer welcome bonuses.

Good Support Options

Skrill offers several fast contact options like a support phone number, live chat, and an FAQ page on their website. If a payment is not working or has failed, the issue is likely to be resolved quickly compared to alternatives in the market. However, the live chat service is manned by a chatbot, which only answers general queries. If you want to talk to a human you may need to give the company a ring: 020 3308 2519.

Cons Of Trading With Rapid Transfer

Fees

Rapid Transfer (Skrill) may charge fees depending on the country, currency unit and transaction type. Note that your broker may also charge service fees, which you can find on the company’s website or by contacting the customer support team. Alternatively, check out our reviews of the best supporting brokers.

Speed

As the name suggests, the payment process via Rapid Transfer is quick, with transactions authorized instantly on Skrill’s side. The time it takes for your deposited or withdrawn funds to be credited may vary depending on your broker’s processing times. FBS withdrawals, for example, usually take 15-20 minutes.

Security

Rapid Transfer is a secure payment method. Banking details are never stored and remain fully encrypted with your bank. All transactions are also SSL-secured and VeriSign (Norton Secure) protected.

Skrill is also authorized by the Financial Conduct Authority (FCA) in the UK, a leading financial regulator.

Deposits & Withdrawals

To make a deposit or withdrawal in your trading account, look for the Rapid Transfer logo in the cashier area. When prompted, enter your online banking credentials and additional security codes, such as an SMS code, a OTP (One Time Password) or mobile app confirmation. Your funds will then be processed instantly and you will be redirected back to your broker’s website.

Note that your broker may have certain deposit or withdrawal limits for trading accounts. RoboForex, for example, has a minimum deposit limit of $10, whilst eToro requires at least $200.

Charges & Rates

Skrill may charge some fees if, for example, you use Rapid Transfer to deposit into your Skrill wallet. From the UK and using GBP, this would be charged at 1%. Currency conversions are 3.99%. There are also other Skrill fees for various types of transactions, so bear these in mind, along with other charges that your broker may impose.

Is Rapid Transfer A Good Choice For Traders?

Rapid Transfer by Skrill is an excellent option for direct online bank transfers. Investors enjoy fast and safe deposits to their accounts using existing online banking credentials. There is a good list of European-supported countries and currencies as well, plus recent expansion into the USA. The notable downside is the fees (if applicable for your transaction).

Use our list of brokers that accept Rapid Transfer deposits to start trading today.

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