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Reward points ending

Skrill: VIP accounts | Highest Limits | Reduced costs
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Reward points ending

Wed May 18, 2016 2:42 pm

Just had an email confirming reward points will stop on 1st July 2016.

Is there no end to their greed, and is there any reason to use them over bank transfers/debit cards now?
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Re: Reward points ending

Wed May 18, 2016 3:01 pm

Skrill or NT  ?
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Re: Reward points ending

Wed May 18, 2016 3:08 pm

He probably means the loyalty points from skrill, not the reward points from NT
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Re: Reward points ending

Wed May 18, 2016 3:17 pm

He is talking about Skrill. In addition, their VIP structure is changing also.
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Re: Reward points ending

Wed May 18, 2016 3:36 pm

are there any plans to completely merge those two?
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Re: Reward points ending

Wed May 18, 2016 3:54 pm

Thordin wrote: are there any plans to completely merge those two?
So far they fiercely deny this, but these are not things to be announced.
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Re: Reward points ending

Wed May 18, 2016 5:27 pm

Bastards.
Fade Fairpunter's picks for sure profits!
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Re: Reward points ending

Thu May 19, 2016 12:02 am

I give it 3 years before they turn into one company. Just makes no sense to have 2 companies owned by the same company playing to the same audience of customers and doing basically the same thing. The synergies (ie. job cuts) and the vast savings that could be made from that will surely be too much of a temptation to boost their profits further in tandem with the raft of fee rises etc since the acquisition.

I see this as akin to the culture of the Betfair Exchange with their premium charge etc that started 5-10 years ago. They obviously thought they could get away with squeezing more and more out of their loyal customers. To a degree they have got away with it with the monopoly they had and still have but I believe that Smarkets will continue to gain market share and become the dominant exchange in front of Betfair within the next 5 years with their simplified, cut price and no nonsense proposition as more and more customers get disillusioned with Betfair and looking for a viable alternative.

And if Skrill and Neteller continue doing what they are doing, it will catch up with them in time just like it is starting to catch up with the Betfair Exchange. Whether Ecopayz is the Smarkets in this sector or somebody else comes along with a cut price, high volume, low margin e-wallet model to challenge Skrill and Neteller, whether it is in 2, 5 or 10 years time, people will start to move to another e-wallet as soon as another viable and mass market option becomes available if Skrill and Neteller continue treating their customers with such disdain.
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Re: Reward points ending

Thu May 19, 2016 7:56 am

If i was inside to any business group that had interest to open a financial institution like an ewallet , i would consider as perfect time to do it!
The greed of paysafe group (NT/skrill) will eventually destroy them , as with their monopoly they created a "gap" and "nature hates gaps"
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Re: Reward points ending

Thu May 19, 2016 12:05 pm

I used to think Skrill was the best thing ever, but over the last 2 years their sheer greed has made me actively stop using them wherever possible.  They now miss out on a MINIMUM of £80K a month being put into books and exchanges.  I keep a few £1000 in there just in case my debit card gets declined which happens occasionally.
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Re: Reward points ending

Sun Jul 03, 2016 9:20 pm

Total transactions May  £64525.00 
Total transactions June £30.00

Hope they don't miss my £1200 of merchant commission for being greedy cu next tuesdays.

And to be fair debit card and bank payments have been as fast as Skrill, except getting money to Premium Tradings which takes 3 days by wire.  But I left an extra £10K in Premium Tradings and using banks feels safer than Skrill too.

I cant stand greed, even if it costs me time and money I try to avoid companies who are blatantly taking the piss.
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Re: Reward points ending

Mon Jul 04, 2016 11:54 am

and since skrill is not a bank, your money is not insured while they freely gamble with it, like every bank

so they act like a bank, charge MORE than a bank and provide NONE of the benefits/security a bank provides

seriously, anyone else thinks there is NO market for a new e wallet ?

they're asking for it, they have a monopoly and they won't give a shit until there's an alternative
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Re: Reward points ending

Mon Jul 04, 2016 1:49 pm

dealer wins wrote: Is there no end to their greed, and is there any reason to use them over bank transfers/debit cards now?
C'mon, you know the answer already.
MaxShalamar wrote: I use debit card more these days - may take longer to get a withdrawal but safer IMO
There was me thinking you were a loner  ;D
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Re: Reward points ending

Mon Jul 04, 2016 7:11 pm

my_username wrote: and since skrill is not a bank, your money is not insured while they freely gamble with it, like every bank

so they act like a bank, charge MORE than a bank and provide NONE of the benefits/security a bank provides

seriously, anyone else thinks there is NO market for a new e wallet ?

they're asking for it, they have a monopoly and they won't give a shit until there's an alternative
What about their 100% VIP fraud money back guarantee? I know it probably doesn't apply if they go out of business and only for fraudulent transactions but if we are scared that a company the size of Paysafe are at risk of going out of business then we might as well not get out of bed in the morning.

Thankfully I have never been and never wish to be in a position where I need to make a claim against this but has anybody been in that position and got their money back from Skrill as that would surely offer security to your funds? Obviously unless getting your money back from them doesn't work as well in practice as it does on paper.
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Re: Reward points ending

Tue Jul 05, 2016 11:10 am

luctens wrote: Obviously unless getting your money back from them doesn't work as well in practice as it does on paper.
Nailed it

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