Online money transfer is a booming trend in the online world as it is a faster, easier, and more convenient method to send in or withdraw funds any time and without the need to go to a physical bank. Neteller is perhaps one of the world’s largest e-wallets used as a payment method for various activities, purposes, and needs. With Neteller, sending funds has never been this easy. Your recipient does not necessarily need an account on Neteller to be able to receive his or her funds; all he or she needs is an email address. But despite all the good things you’ve heard about Neteller, should you fully put your trust in them?
Neteller is an e-money transfer service established in 1999 handled by the Paysafe Financial Services Limited which provides an online alternative to traditional payment methods. Neteller now supports 18 currencies and conducts the transaction activities in more than 200 countries. Through the continuous success of Neteller, they are now processing billions of dollars each year. Neteller is authorized and regulated by the UK Financial Conduct Authority, hence, maintaining the highest standards in the industry around the world.
Neteller offers a wide set of deposit options for funding your account. Below are some of the most well-known and commonly used deposit methods and their corresponding fee percentages:
- Euteller: 2%
- HSBC: 7%
- Paysafe card: 7.5%
- Paysafe cash: 2.9%
- Skrill: 3%
- Trustly: 1.95%
- Trustpay: 1.5%
- Unionpay: 3%
- Visa/Visa Debit/Visa Electron: 1.9% – 4.95%
Check Neteller’s website under the Fees section to see the complete list of deposit methods and fees.
Meanwhile, Neteller offers a few withdrawal methods but still guarantee the safety and security of your funds and personal information:
- Bank Draft: 7.5 – 25EUR
- Bank Transfer: 7.5EUR
- Member Wire: 10.5EUR
- Merchant Sites: 0% Free
- Money Transfer: 1.45% Min. Fee 0.50 USD
Withdrawal methods can also be viewed on Neteller’s website under the Fees section.
Signing up for a Neteller account is totally free, but not with their services. You have to cash out a little amount of money to complete some transactions and avail their services:
- 3.95 USD for ATM withdrawal fee
- 2.95% foreign exchange fee
- 3.00 USD for paper statement fee
- 2.99 USD for monthly admin fee
- 5.00 USD for replacing a lost card
Sending money with Neteller is surprisingly easy. All you need is money in your account and the transfer happens immediately. While other e-money transfer services require both the sender and recipient to register an account on their site, at Neteller, they will let the recipient know that money is waiting for them. Basically, the recipient does not need any account on Neteller to claim their cash. But life becomes easier when you have a registered Neteller account because cash is instantly deposited to your account.
You may also send and accept funds directly to a bank account, thanks to Skrill which is also part of the Paysafe Group. You may choose the country and the amount using an online calculator and pay using your bank account or card. Your funds will usually arrive in your recipient’s account in 1 to 2 business days. You may create a Skrill account and use its services for Neteller.
When you register an account on Neteller and move funds in and out of your account, you are entitled to their Reward Points Program and earn points for every transaction then redeem these points in return for cash. Good news is: there is no limit to the number of rewards you may earn. The better news is, you may exchange your points for merchandise, digital gift cards, wallet or cash by navigating to the Shop link, then select Merchandise, Cash-Exchange or View Our Digital Gift Cards. However, your points may expire after 14 months of inactivity. Points earned but not redeemed in any year will also expire.
Transactions with Neteller are now more convenient with the app now available on App Store and on Google Play. You may also check your balance and transaction history through this platform, just like what you are capable of doing with the Neteller website. Transferring money is also available through the mobile app. Uploading documents is also possible with verification of your identity by scanning your ID and uploading a selfie. Just log in to use the mobile app in an instant.
Security and Licenses
Neteller is registered under the trademark of Paysafe Holdings UK Limited, and Paysafe Financial Services Limited is authorized by the UK Financial Conduct Authority (FCA) under the Electronic Money Regulations of 2011. Furthermore, Paysafe Merchant Services Limited is licensed by the Financial Services Authority of the Isle of Man. Optimal Payments Merchant Services (Mauritius) Limited is licensed and regulated by the Mauritius Financial Services Commission as a Payment Intermediary Service.
In Neteller, your security is taken with the utmost importance. Whether you are transacting with your credit card, bank account, or any alternative online payments, Neteller got you covered. This is proven through the authorization of the UK Financial Conduct Authority (FCA) to keep your funds and personal information safe from fraud and theft.
When it comes to trusting a certain company with your finances, it is just right to find the company with an accurate and responsive team of customer support to help and assist you when you encounter issues. Neteller offers a few options to contact their customer support representatives.
Frequently Asked Questions:
If you have queries which you think is quite general, you may find or search the answers to your questions on the FAQ section on Neteller’s website.
You may send an email to Neteller’s support team when you can’t find the answers on the FAQ section. Contact them through their email address at firstname.lastname@example.org.
Thankfully, Neteller is just one call away with their phone support line at 1-855-769-3600. Excellent support is a reason enough to use the payment platform.
Social media accounts:
With the technologically advanced world, it is just right that Neteller moves along with it through their social media platforms:
- Twitter: https://twitter.com/neteller
- Facebook: https://www.facebook.com/NETELLER
- Youtube: https://www.youtube.com/user/neteller
Neteller Review Verdict
Money transfers : check. Rewards: check. Security: check. Customer service: all check. However, Neteller’s charges may seem costly compared to other competing companies. Nevertheless, Neteller is worth the risk. It has really good reviews and high ratings allover the internet making it one of the best and most trusted payment options by international customers and users in the market today. Before you sign up for an account, it is always advised to read the terms and conditions first.
How do you register for a Neteller account?
Paying online using Neteller is definitely fast and easy. As long as you have an active Neteller account, you will be able to make transactions online.
Start by making an account which would take only a minute to finish.
All you need to do is to visit https://www.neteller.com and click on the “Join for Free”.
Enter your email address, country of residence, desired account currency and your personal details.
Complete the asked details including the security questions answers. Click Continue to finalize your account.
How do you verify your Neteller account?
Verifying your identity with Neteller is definitely an important step to take when creating an account. Having a verified account will ensure your account’s security and you are allowed to gain access to other deposit options and higher limits.
To verify your account, Neteller will ask documents to verify your identity. You can provide a digital copy of these documents to prove your identity:
Face match picture of your ID
National ID Card
Billing Address (Utility bills, etc)
What currencies can you fund your Neteller account with?
Neteller offers its players a wide list of currencies that it can process. When currencies are converted, a conversion fee or foreign exchange fee of 3.99% is charged to the account holder. Here is a list of the currencies accepted by Neteller:
Australian Dollar - AUD ($)
Brazilian Real - BRL (R$)
Bulgarian Lev - BGN (лв)
Canadian Dollar - CAD ($)
Danish Krone - DKK (kr)
Euro - EUR (€)
Great Britain Pound - GBP (£)
Hungarian Forint - HUF (Ft)
Indian Rupee - INR (Rs)
Japanese Yen - JPY (￥)
Malaysian Ringgit - MYR (RM)
Mexican Peso - MXN ($)
Moroccan Dirham - MAD (د.م.)
Nigerian Naira - NGN (₦)
Norwegian Krone - NOK (kr)
Polish Zloty - PLN (zł)
Romanian New Leu - RON (lei)
Russian Ruble – RUB (руб)
Singapore Dollar - SING (S$)
South African Rand - ZAR (R)
Swedish Kronor - SEK (Kr)
Swiss Franc – CHF (Fr.)
Taiwan Dollar - TWD ($)
Tunisian Dinar - TND (د.ت)
United Arab Emirates Dirham - AED (د.إ)
United States Dollar - USD ($)
Colombian Peso - COP ($)
How do you link your bank to your Neteller account?
You can find the link to register a bank account in the “Money Out” section where the “Add a Bank Account” option can be found. After choosing that option, you will need to provide your banking details such as your IBANK (International Bank Account Number) and other necessary details in order for Neteller to link your bank. Select continue to confirm your registration and proceed to verifying your bank account.