Originally launched in 1999 in Canada, Neteller is an online payment solution which is owned and operated by Paysafe Group PLC which is a British global payments company. From Canada, it was moved to the Isle of Man in 2004. Up to date, it is servicing over 200 countries all over the world with 22 currencies, 100 local payment method and 15 languages for both personal and financial transaction. It is somewhat similar to PayPal, but the difference is that it is more commonly used in gambling and online trading.
In order to have a Neteller e-wallet account, the following steps should be followed.
- Open the Neteller website and choose the Sign for Free Menu which is located at the side menu
- Fill in the form with the correct information (full name, date of birth, registered address)
- Choose your preferred currency
- Open your client portal with the use of the account ID given and review your account and deposit
- Select Money In in order to deposit or link up your banking options and to verify your account
- Once completed, one can already enjoy the benefits and comforts of the Neteller e-wallet.
Payment Solutions and Fees
Clients are given a wide range of deposit options which include bank cards, direct transfer and linking account with other e-wallet solutions.
When using credit or debit cards, the following fees are deducted:
- Master card Credit – 2.25%
- Visa Credit – 1.9%
- Visa Debit – 1.9%
- Visa Electron – 1.0%
- Mastercard Debit – 2.25%
Bankcard deposits will require the client to choose whether the money is for gambling or not. This is because of the local gambling laws in different regions and with the card companies in question.
Neteller is very much strict when it comes to sending payments as there are still a few security measures before one can withdraw. The process involves heading to the money out section in order to link your bank account. After which, you will receive a small amount which you have to enter in order to validate your transaction.
Once the process is completed, your account is ready to use which means that you can already withdraw from it. Furthermore, all your transactions within a year are saved. If you fail to use your account for 14 months, you will be charged $40 for admin fee.
Neteller supports mobile banking in order to make this client’s life more convenient. Clients can download the Neteller application which can be downloaded for all Apple and Android devices.
Neteller offers their clients different award programs which include the VIP scheme. The following are the VIP levels.
- Bronze ($10,000 – $49, 999)
- 1,000-anniversary points
- 1 reward point per dollar
- 3.79% fixed FX fee
- 1.75% atm fee
- 1% send money fee
- Silver ($50,000 – $99,000)
- 9,000-anniversary reward points
- 3.19 fixed FX fee
- 1 additional currency account
- *Frees Net+ Prepaid Mastercard shipping and handling fee
- Gold ($100,000 – $499,999)
- 10,000 reward anniversary points
- 2.79% FX fee
- €4 atm withdrawal fee
- $2 send money fee
- Limit increase and next day payout
- VIP manager
- 2 additional currency accounts
- Deposit and withdrawal discount
- Platinum ($500,000 – $999,999)
- 20,000-anniversary points
- $1.25 reward for every dollar spent
- 2.39% FX fee
- 3 additional currency account
- Diamond ($1,000,000)
- 50,000-anniversary reward points
- $1.50 reward for every dollar spent
- 1.29% FX fee
Prepaid Card Options
Clients can choose from the two prepaid card options that Neteller provides. The first one is the Net+ Plastic Prepaid Mastercard with $8 handling and shipping fee. The other one is the Net+ Virtual Prepaid Mastercard which is free from the outset and allow clients for cash withdrawals with 1.75% fee. Both of these cards allow clients to make online or physical store payments free of charge.
Regulation and License
Neteller is under the regulation of Financial Services Authority (FSA) with license number 1357. FSA is known for their strict implementation of regulations in order to secure the clients under them.
In order to cater to questions from their clients, their website has a Frequently Asked Questions section in as much as they offer email support with a response within 24 hours and a customer call support.
- Reliable service
- Extremely tight security measures which may block a client
Neteller is an easy and secured e-wallet solution which everyone can enjoy. It is extremely reliable in as much as their customer support is one of a kind. Their security measure is tight in order to ensure that clients are safe. Definitely, Neteller is worth the try if you are looking for an e-wallet provider.