December 9th 2019
We are delighted to inform you that the long awaited Skrill Knect loyalty program has now gone live in November 2019 allowing you to earn a variety of cash vouchers and gifts simply for using your Skrill account.
Initially piloted in two countries - United Kingdom & Bulgaria – the rewards program has now been rolled out in a total of 77 countries and is available for new and existing Skrill account holders. You can view the Skrill Knect countries at the bottom of this article.
In this article, we will explain everything there is to know about Knect: How it works, who is eligible, what benefits are on offer and how to get started.
Please note that in order to join Knect you must be a current Skrill account holder of an active and fully verified Skrill Account.
If your Skrill account is not verified, you will see the message shown below and you will not be able to join the program. If you still need to verify your Skrill account please refer to How to verify your Skrill account?
Assuming your account is verified, joining the Skrill Knect program could not be easier. Follow the steps outlined below to get started.
There are seven methods for earning points and each activity generates a different number of points.
Below you find a comparison table of what points every action contributes towards your total Knect points.
Transfer Type | Points | Info |
---|---|---|
Withdraw Money | 1.00 | Earn 1 point for every €1* you withdraw from Skrill |
Deposit Money | 1.00 | Earn 1 point for every €1* you deposit into Skrill |
Skrill Prepaid Mastercard | 1.00 | Earn 1 point for every €1* you spend/withdraw using your card offline & online |
Send Crypto | 0.50 | Earn 0.5 points for every €1* of crypto you send to another Skrill user |
Trade Crypto | 1.00 | Earn 1 point for every €1 of crypto you buy/sell |
Merchant Transfers | 0.25 | Earn 0.25 points for every €1* you transfer to merchants |
Skrill to Skrill transfers | 0.50 | Earn 0.5 points for every €1* you send to another Skrill user |
* or currency equivalent
When you click through to the Spend Points tab, you will see your available personalised gifts. Initially it is likely you will just see the Wallet Credit option.
Wallet Credit is a cash voucher that will be credited to your Skrill account when you exchange your points. There are five different tiers for you to exchange your points for Wallet Credit which will be listed in two currencies: Euro’s and the currency of your Skrill account.
You will also see the current Skrill exchange rate applied so that you can see exactly how much Wallet Credit you will receive in your chosen currency.
If your account is in Euros, you will not see any currency conversion.
The table below shows the tiers available for you to exchange your points for cash.
Points Required | Wallet Credit |
---|---|
10,000 | €10 |
30,000 | €30 |
50,000 | €50 |
75,000 | €75 |
175,000 | €175 |
Please note that new rewards and offers will continually appear in the spend points section of your Knect dashboard so we advise you to keep checking your account and your chosen marketing channels to stay up-to-date with what rewards are currently available. Offers may include but are not limited to gifts such as vouchers, discounts, freebets and bonuses.
Additionally, Skrill have made clear that they will run special promotions to groups of users from time to time. If you’re selected, you will be contacted by the Skrill Knect team.
Special promotions may allow you to boost your points by participating.
We have summarised important information below regarding the Knect program which may be helpful for you to know.
There are limits applied to the number of points you can earn per transaction and per calendar month.
Transaction limit – you can earn a maximum of 1000 loyalty points per transaction.
Monthly limit – you can earn a maximum of 500,000 loyalty points per calendar month.
Your loyalty points will expire on the 1st January of the year following the year when your points were earned.
Essentially when you earn loyalty points, they will be valid for the current year and the full succeeding year.
When you sign up to the Knect loyalty program you should take note of the following terms so that you do not get removed from the program.
In our ewallet reviews, our analysis has been that NETELLER was a slightly better option for most customers due to their generous rewards program.
However, with the launch of Skrill Knect, it can be argued that Skrill is a more suitable option for customers who do not expect to become top-level NETELLER VIP’s.
This is due to the fact that the NETELLER rewards program allows you to earn some fantastic benefits, you will only earn reward points at NETELLER from transfers to merchants and from buying/selling crypto whilst Skrill Knect allows you to earn points from 7 different transaction actions
Additionally, the NETELLER reward program is more VIP-focussed whilst at the current time, the new Skrill Knect program allows users of all levels and volumes to benefit equally.
Of course, we cannot rule out that in the future that Skrill will increase the number of points earned per transaction according to your VIP level but as it stands, all customers will benefit equally from the Skrill Knect program.
The way that the Skrill and NETELLER loyalty programs work has some similarities but at the same time are quite different.
We are sure you may be wondering which program offers the highest level of rewards based on your transactions, especially if you are making large transfers every month.
It is quite difficult to do a direct comparison due to the different nature of the loyalty programs, but we’ve attempted to summarise some differences and benefits below, which we believe would be of interest to our regular clients and partners.
All merchants are included in the Skrill Knect program so any transfer to merchants that you make using Skrill will qualify for points.
For NETELLER, there are a number of restrictions on which merchants qualify for points. You can see the full list here
Firstly, it is important to realise the following when making this comparison:
For this simple comparison, we will make the following assumptions:
The highest level of Cash Exchange is $5,000 which requires 6,326,500 anniversary points. Therefore, you would need to transfer $6,326,500 (as you receive 1.00 points per 1 USD spent) to receive A Cash Exchange of $5,000 which is a rate of 0.079%.
The highest level of Wallet Credit is €175 which requires 175,000 loyalty points. As transfers to merchants return 0.25 Knect points per 1 EUR spent, you would need to transfer €700,000 (175,000 x 4) to receive €175 Wallet Credit which is a rate of 0.025%.
Even though our basic comparison of redeemable cash vouchers seems to imply that NETELLER is a better option, there are a large number of caveats and assumptions applied to this comparison.
Our advice is that if you expect to become a top-level VIP transferring hundreds of thousands you should continue with the NETELLER rewards program but for customers transacting lower volumes and less frequently you should consider joining the Skrill Knect program.
Join Skrill using the application form below and receive a FREE Bronze VIP Upgrade on your Skrill account to take advantage of lower fees, increased limits and much more. New & Existing Skrill customers welcome.
Rating
Instant VIP Bronze Status
Fast Track Verification - 24 hours
Easier VIP Targets For Higher Levels
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Lower Fees & Higher Limits
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