Skrill begins lifting restrictions on Forex broker merchant accounts – LeapRate Exclusive

Further to action taken by Skrill (formerly Moneybookers) as a result of Thursday’s extreme volatility which affected currency pairs being traded which included the Swiss franc in that the company temporarily suspended payments to certain FX firms, Skrill has confirmed today that it has begun reinstating payment services.

The company, whose main business is to facilitate online payments, has a commercial relationship with a large number of retail FX brokerages.

LeapRate was provided with a corporate statement from Skrill today confirming the resumption of service: “Following the currency markets’ response to the Swiss Franc (CHF) value fluctuations last week, Skrill began evaluating the potential impact of this and took action to temporarily restrict the cash withdrawal from some of its merchant accounts, effective late on January 16” began the statement.

“No consumer accounts were impacted by this, and would not be impacted due to the separation of consumer and merchant funds in compliance with FCA regulation” continued Skrill.

“On January 19, Skrill began to lift the restrictions imposed in line with market recovery, and has been in contact with the majority of merchants impacted. Skrill remains committed to the FX market and to its customers in this space. Any forex merchants with questions or concerns should contact [email protected]” concluded the corporate statement.


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