Neteller is a money transfer service based in the United Kingdom. Its products include the Neteller eWallet and the Net+ Prepaid MasterCard.
Opening a Neteller Account
If you want to take advantage of the convenience provided by Neteller, you need to create an account and it’s really quick and easy.
First, you’ll need to enter your email address, country of residence and desired account currency.
Then you will be required to enter your personal details and login information. Once you’ve done so, you will already have an unverified Neteller account. You can start sending and receiving money although there is still a limit until your account is verified.
The process of getting your Neteller account verified is easy as well. You just need to upload a copy of your passport so that you can increase your transaction limits and receive a Net+ Mastercard. When your account is already verified, you can then fund your eWallet through a local bank transfer, iDeal bank transfer, funding using prepaid vouchers or through your Visa or MasterCard.
Here is a video showing you a little bit more of Neteller’s features:
Transaction, Withdrawal and Deposit Fees
The good news is that using the Net+ Prepaid Mastercard service is free. So if you want to use this card, you don’t need to worry about incurring any transaction fees. However, if you are going to withdraw from an ATM machine, the fee is $6. To transfer money the cost is 1.9% or a minimum of $1. To convert to another currency, the cost is 2.95%.
Advantages of Using Neteller
Neteller is a free money transfer service that you can use to send money to your loved ones or friends from around the world. All you would need to do is to get that person’s email address and they would be able to receive their funds (in their Neteller account) instantly.
Payment is also secure when you use Neteller. The company was established in 1999 and have built a reputation as one of the most trusted online payment systems in the world.
If you’re using Neteller primarily for playing casino games online, then there is no fee to deposit or withdraw money so instead of having to pay a fortune on transaction fees, you can just use the savings you get to play even more poker games.
Disadvantages of Neteller
The main issue with Neteller is that it does not offer multi currency accounts. As mentioned earlier, there is a fee of 2.95% to convert your money to a foreign currency which means you would have to limit your use of your Neteller funds to transactions in your home country or the currency that you have chosen for your account.
In addition, you cannot withdraw money from your debit or credit card. You can only use the Net+ Prepaid Mastercard to withdraw funds.
Finally, there’s also a limit as to how much you money can be withdrawn. For casino players, such limitation can be a nuisance particularly for high rollers.
Overall, Neteller gives you more benefits than drawbacks. It’s a safe and affordable way to send money, play casino games, or even make purchases.