Neteller is an online payment processor that enables businesses and individuals to make and receive payments in over 200 countries worldwide. Founded in 1999, the company has since grown to become one of the world’s most popular payment processors.
Today, Neteller offers a number of services and products, such as online payments, apps, money transfers, and crypto trading, as well as a number of business solutions regarding payment security, payouts, and payments overall.
Price/Fees
Neteller offers a wide variety of products and services for businesses and individuals who want to send and receive money online. Here’s a rundown of their various fees and charges associated with account funding, withdrawing funds, currency conversion fees, etc.
Deposit Options
Neteller offers plenty of choices when it comes to user account funding. The fees may differ depending on the bank/company used for making the deposit.
In the majority of cases, the fees are 2.5%. This applies to Exito, Banco de Chile, Banco Guayaquil, Boleto Bancario, Davivienda, Epay, EPS, Maestro, MasterCard, Multibanco, NetBanking, Paysafe:cash, etc. In some cases, the fees go from 0 to only 1%, like in the case of the local bank deposit, PaysafeCard, or MBWay.
Withdrawal
When it comes to withdrawals and payments, Nettleler ensures simple, fast, and safe options.
Bank transfers usually cost £8.04, and payments on merchant sites are free of charge. The crypto wallet has a 2% fee, but MasterCard and Visa come with a 0-3.99% fee.
The fee for the Member Wire is fixed: £10.25, while the money transfer fee is usually 2.99%.
Net+ Prepaid Mastercard fee goes from 0 to 1.75%, while for Skrill, it goes up to 3.49%.
Account Levels Fees
There are two account tiers at Neteller, each with its own fees.
Neteller Standard money transfers come with a 2.99% fee, while the first Net+ Prepaid Mastercard Application costs up to £8.04.
Neteller True account charges 1.45% for money transfers and applies the same £8.04 fee on the first Net+ Prepaid Mastercard Application.
Net+ Prepaid Mastercard
Net+ Prepaid Mastercard is Neteller’s awarded product and one of the best-priced cards on the market.
Card Fees
Owners of this card can use it to make payments in shops and restaurants and to online retailers for free.
In case of payments in a foreign currency, the fee goes up to 3.99%. The new card application fee is £8.04, and the cash withdrawal fee is up to 1.75%.
The lost card replacement and annual card fee both cost £8.04.
DHL express card delivery costs £20.10.
Limits
Within a 24-hour span, users can make up to 10 withdrawals and up to 50 purchases. The withdrawal limit is £723,753, but the limit for purchases is £2,171.
Net+ Virtual Mastercard
The first Net+ Virtual Mastercard is free. After that, every canceled card replacement costs £2.01.
The maximum limit on this card is £2,171 per transaction. Users can make up to 10 purchases every 24h and spend up to £2,171 in POS.
Money Transfer
Making an international money transfer via Neteller with a credit card is completely free of charge, while debit card transfers cost only £16.08. Interested parties can calculate how much money they can save by using Neteller on this webpage.
The international transfer exchange rate markup per transaction is up to 4.99%; sending money to other Neteller users costs 2.99%, but receiving money is always completely free of charge.
Buy and Sell Cryptocurrency
There are four fee tiers for buying and selling cryptocurrency via Neteller.
With the Neteller Standard and Neteller True packages, users get to trade Crypto for a 1.50% fee. This fee is 1.40% for Silver VIP and 1.30% for Gold/Diamond/Exclusive VIP packages.
For Crypto P2P, the fee is 0.50% per transaction.
Foreign Exchange Fee
In case a transaction requires a conversion to a foreign currency, a variable Neteller exchange rate and a foreign exchange fee of 3.99% apply.
Service Fees
Users who regularly use their Neteller accounts are never charged a service fee. In order to avoid this fee, users need to log in or make a transaction at least every six months. If they don’t do this, they will be charged a monthly service fee of £4.01.
There are other types of service fees at Neteller:
- The fee for providing inaccurate or untruthful information or for lack of cooperation goes up to £120.41.
- The fee for an incorrect transaction or reversal is up to £20.07.
- The fee for chargeback is £25 per case.
- The fee for making a prohibited transaction fee is up to £120.41.
VIP Membership Fees
There are four types of VIP membership fees. They are outlined in the following table:
Product/Service Overview
Neteller offers various products and services for both clients and businesses aimed at providing users with simple and affordable payment processing solutions.
Payments
Pay Online
The Pay Online feature allows users to make secure payments online on thousands of websites without the need to use a debit or credit card or provide bank account information on a purchase.
To use this feature, users need to simply log in to their Neteller account and select the “Pay Online” option. After that, they need to input the amount of money to pay and the website they want to make a payment to. Upon confirming the payment, the funds will be instantly transferred.
App
The Neteller mobile app allows users to manage their Neteller accounts from the comfort of their phones. They can perform various operations, such as making secure online payments, checking their account balance, viewing transaction history, and sending funds to other Neteller accounts.
Money Transfer
Neteller enables users to send their money to bank accounts overseas without any transfer fees.
All they need to do is log in to their accounts, select the “Money Transfer” option, and input the recipient’s email, transfer amount, and desired currency. They can also add a message for the recipient and then confirm the transfer.
The recipients will receive an email with instructions on how to claim the transfer. If the recipient is also a Neteller user, they will receive the funds automatically. In other cases, the recipient should sign up for the Neteller account to receive the transfer.
Neteller offers additional transfer features, such as sending money to bank accounts and wallets or requesting payment from other Neteller users.
Crypto
Neteller offers a convenient way to buy and sell over 40 types of cryptocurrencies. To start trading, users need as little as $1. They can also seamlessly exchange various fiat currencies into crypto and vice versa.
To start trading cryptocurrencies, users need to sign in/sign up for their Neteller accounts, deposit funds to their wallets via card, bank transfer, or another payment solution, and start trading.
Thanks to the user-friendly app, they withdraw cash straight into their cryptocurrency addresses.
Net+ Cards
Net+ Prepaid Card
Net+ Prepaid Card is a physical card that allows for making instant, secure, and contactless payments in physical stores or online or withdrawing cash from ATMs.
To obtain this card, users can apply through the website, and once approved, the card will be shipped to their address. It’s available in various currencies and accepted everywhere where MasterCard is accepted.
The main advantage of this card is that it allows users to spend their Neteller funds directly without having to transfer money to a bank account.
The card has several layers of security, such as a chip, PIN, and blocking and unblocking the card through the Neteller mobile app.
Net+ Virtual Card
The Net+ Virtual Card is used for making online payments and purchases without having to rely on a physical card. It can be linked to the Neteller account and used in all cases where MasterCard is accepted as an online payment method.
Its main benefit is that it allows users to make online payments without exposing their credit card or personal identity information. It also sets users free from carrying plastic cards in their wallets all the time. Users can set the lifetime limit of this card, after which the card becomes inactive.
Business Solutions
Payment
Neteller currently processes payments on thousands of different websites, making them a convenient choice for businesses that want to increase their profits by giving their customers another option when it comes to making payments.
They offer marketing and affinity programs to online businesses aimed at attracting new customers and driving the existing ones. Their low-cost payment solution makes customers more likely to spend money online, thus helping online businesses build stronger client relationships.
They currently cater to consumers and merchants from more than 200 countries in 15 different languages, making it easy for merchants to offer localized services to their customer base while still operating internationally.
Payouts
The Neteller Payout feature helps businesses save time and money, as this convenient and cost-effective feature gives customers instant access to their money.
The feature is convenient for both one-off and bulk payments and has a built-in FX, which allows for issuing payments in a number of currencies without any hidden fees for foreign exchange.
Neteller is among the most trusted options for corporate payouts as they offer a low-cost solution for making instant payouts to employees, vendors, suppliers, and affiliates.
Business Operations
Merchant Directory
There is a long list of merchants who have chosen Neteller as their payment option from a variety of industries, from auctions to education, insurance, online games, software, marketing and advertising, and many others.
To review the list of merchants who collaborate with Neteller, visit this webpage.
Payment Security
To protect their users’ security from identity theft and fraud, Neteller has opted for some of the leading protection tools.
All processed transactions are 100% indemnified, meaning that in case of fraud, the user would be 100% compensated.
Neteller also employs very strict identity and age verifications. This can be helpful in reducing fraud on the user’s website.
By contacting Neteller, users can get some of the following fraud protection tools to work for them: 3-D Secure, PCI DSS Compliant, real-time transaction monitoring, device fingerprinting, security code verification (CV2/CCV), and many others.
Loyalty
Neteller Knect
Knect is Neteller’s basic loyalty program that allows for exchanging points for cash rewards. Every time users use their Neteller accounts, they earn points, which they can later redeem for cash.
Neteller True
Neteller True is a higher account level designed for people who want to get more from their digital wallets. The benefits of this account level are lower fees for money transfers, bonuses for referrals, and various loyalty offers.
Neteller VIP
By opting in for the VIP status at Neteller, users gain access to a long list of benefits.
Whenever users trade crypto from their Neteller wallets, their transactions count towards gaining VIP membership. VIPs get to enjoy exclusive monthly discounts, low FX rates fees, free money transfers around the world, a dedicated personal VIP manager, and various invite-only promotions.
Company Background
Neteller provides e-money transfer services to various merchants, from forex trading companies to social networks and e-commerce businesses. The company is owned by the British Paysafe Group, which also owns Skrill and Paysafecard.
Neteller was founded in 1999 in Canada, but in 2004 it was moved to the Isle of Man. In 2015 it was acquired by the Paysafe Group.
User Review From Around the Web
To get a complete picture of Neteller, let’s take a look at users’ reviews from around the Internet.
- Sitejabber: 1.3/5 (136 total reviews)
- Trust Pilot: 3.5/5 (1,956 total reviews)
- G2.com: 4/5 (15 total reviews)
- Traders Union: 9.03/10
- Hello Peter: 1/5 (23 total reviews)
- Get App: 4/5 (8 total reviews)
User Reviews
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