What requirements must UK residents complete to enable crypto transactions on Skrill?

Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take two minutes to learn more.

In compliance with FCA’s financial promotion rules for crypto assets, as of January 2024, Skrill customers residing in the United Kingdom are required to complete certain steps in order to use the Skrill Cryptocurrency Services.

The new requirements aim to enhance the customer journey and provide additional protection for new and existing investors in crypto assets. This includes a cooling-off period for first-time investors, a client categorisation process, and an appropriateness assessment.

What do the categorisation and assessment forms represent?

  • Customer categorisation is a declaration of your current financial status for statistical purposes. The categorisation you fall under will not affect the services available to you.
  • The assessment questionnaire is intended to help us evaluate your understanding of the risks involved in trading crypto assets.

How to access and complete the crypto investor forms?

There are two ways to access the investor forms: through the section Crypto or Withdraw > Withdraw to crypto wallet. Feel free to navigate at your own pace:

  1. Get familiar with the risk warning message at the top of your screen and press Continue if you acknowledge it.
  2. Fill out the investor declaration truthfully and, when ready, press Save and continue.
  3. Review the investor statement and proceed if you agree with it. Feel free to go back and correct your declaration if needed.
  4. Conclude the journey by completing an assessment based on your investment knowledge and experience.

Remember, every step gives you the opportunity to decide whether to proceed, make adjustments based on your preferences or stop the journey.

If you're a first-time investor, please be aware that you will be subject to a 24-hour cooling-off period before you can perform crypto transactions. This period begins when you start filling the client categorisation form and appropriateness assessment. Once completed, we'll ask you to wait until the end of the 24-hour period before you can proceed with your investment.

Rest assured, any information you submit is treated in accordance with the Privacy Policy.

If you’ve just created your account but do not see a Crypto section, please ensure you’ve completed the entire registration process by providing your full residential address, date of birth, mobile phone number, nationality, and occupation.

What happens if I do not complete the crypto investor forms?

Please be aware that you will not be able to use our crypto services until all required steps are completed.

In case you do not wish to complete the categorisation process and appropriateness assessment but have a crypto balance in your account available from prior transactions, please contact us for further details and assistance.

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