Skrill Glossary

ATM (automated teller machine) – an electronic device that allows you to make financial transactions, such as cash withdrawals, deposits, money transfers, or account information inquiries, at any time and without the need for direct interaction with bank staff.

Bank code – an alpha-numeric code associated to a specific bank and that is used to identify it during financial transactions. You can find your bank code on your bank statement or other official bank issued document.

Bank branch - a bank office where the bank offers a wide array of face-to-face and automated services to its customers. Each bank branch has its unique code that helps to identify it and serves as such during financial transactions.

Bank Branch Name – the name of a specific bank office that differentiate it from the other offices of the bank. It is used to identify the specific bank office during financial transactions. You can find your bank branch name on your bank statement or other official bank issued document.

Bank statement - an official document provided by a bank and reflecting account, account holder’s and transaction information associated to the relevant bank account.

Branch code - a unique identifying code for a given branch of a bank. It is used to identify the specific bank branch during financial transactions. You can find your branch code on your bank statement or other official bank issued document.

BSB (Bank State Branch) – a 6-digit code used by banks in Australia and New Zealandia to identify and route the money transfers to the respective bank branch. You can find your BSB code on the back of your cheque book, on your bank statement or other official bank issued document.

Card statement – an official document provided by an issuing bank and reflecting card, card holder’s and transaction information associated to the relevant credit, debit or prepaid card.

CBU (Clave Bancaria Unificada) – a 22-digit code used by Argentinian banks to identify and route the money transfers to the respective bank and account. You can find your CBU on your bank statement or other official bank issued document.

CCI (Código de Cuenta Interbancario) - a 18-digit or 20-digit code used by Peruvian banks to identify and route the money transfers to the respective bank and account. You can find your CCI on your bank statement or other official bank issued document.

CLABE (Clave Bancaria Estandardizada) - a 18-digit code used by Mexican banks to identify and route the money transfers to the respective bank and account. You can find your CLABE on your bank statement or other official bank issued document.

CVV / CVC (Card Verification Value / Code) – a security code required for online payments with cards in situations where you PIN code can’t be used. It is composed by 3 digits and is located on the back side of your card (On American Express® cards it is composed by 4 digits and is located on the front side of the card).

EEA (European Economic Area) - consists of the Member States of the European Union (EU) and three countries of the European Free Trade Association (EFTA) (Iceland, Liechtenstein and Norway; excluding Switzerland). It operates as an internal (or single) market which allows free movement of goods, capital, services and people between member states.

IBAN (International Bank Account Number) – an internationally agreed code that helps to identify bank accounts involved in cross border transactions. It consists of up to 34 letters and numbers. You can find your IBAN on your bank statement or other official bank issued document.

IFSC (Indian Financial System Code) - is an 11-digit alpha-numeric code used to identify bank branches within the National Electronic Funds Transfer (NEFT) network by central bank. You can find your IFS Code on your bank statement, cheque book or other official bank issued document

IP (Internet Protocol) – or IP address (Internet protocol address) is an identifying number that is associated with a specific computer or computer network. When connected to the internet, the IP address allows the computers to send and receive information. It also helps to identify their location.

Issuing bank – a bank or financial institution that provides you with credit, debit or prepaid card and facilitate the payments made with the card. It is also in charge with your financial information and account data and can provide you with the associated details or grant you with access to them.

PIN (personal identification number) – a security password used on ATM or POS transactions. It is composed by 4 to 6 digits. The PIN is usually sent separately from the card by the post or is provided upon the card’s activation. You can change your PIN on an ATM device. (in Skrill we also have our PIN Authentication code, which is different from the one used for card transactions)

Sort code – a 6-digits number used by British and Irish banks to identify and route the money transfers to the respective bank and account. The sort code of a bank is integrated and encoded in the IBAN number of the account but not in the BIC codes of the account. You can find your sort code on the back of your debit card, on your bank statement or other official bank issued document.

POS (point of sale) – a place where you can make a payment for products or services you buy, usually by way of a device such as a credit card terminal or cash register.

Proxy – a server application or appliance that acts as an intermediary between you and the rest of the internet, having its own IP address. Your computer speaks only to the proxy, and the proxy forwards all communication onward to the internet at large and vice versa.

SEPA (Single Euro Payments Area) - a system of transactions created by the European Union (EU) which aim is to make cross-border EUR transfers within this area equivalent to a domestic transfer. SEPA covers the whole of the EU. It also applies to payments in euros in other European countries: Andorra, Iceland, Norway, Switzerland, Liechtenstein, Monaco, San Marino and Vatican City State.

SWIFT (Society for Worldwide Interbank Financial Telecommunication) - a standard format of Bank Identifier Code (BIC) used to specify a particular bank or branch. These codes are used when transferring money between banks, especially for international wire transfers. SWIFT codes consist of 8 or 11 letters and numbers. You can find your SWIFT code on your bank statement or official bank issued document.

VPN (Virtual private network) – an encrypted connection over the Internet from a device to a network. VPNs allow you to hide while surfing the web as they create an encrypted tunnel between your device and internet.

3D Secure (3-domain structure) - an additional security layer for online card transactions, known as a payer authentication. It provides a means for card issuer to verify the identity of the cardholder, typically by asking them to enter a password or secret code that only the cardholder should know. The password or secret code are usually provided by sms or email.