Neteller – General Review
Contents
Neteller – what is Neteller?
Neteller is a mobile and PC application that acts as a digital wallet. Through this app, you can make online payments, transfer funds, make purchases, and keep track of your transactions, all in one place. Neteller was launched in 1999 and previously only operated in a few countries. However, it’s operant in over 200 countries and has millions of daily users who rely on the app for their everyday dealings. The app lets its users transfer money to over 180 countries worldwide through a fast and secure network that’s a lot quicker and convenient than conventional banking apps, which make daily businesses quite a hassle. Furthermore, Neteller allows the users to select from within 22 different currencies while making transactions.
Neteller, whose parent company is Optimal Payments, now has bought Skrill as well, another digital wallet platform, and so Neteller users can now easily link the two applications. This link allows the users to fund their Neteller wallet through Skrill or their Skrill account through the Neteller wallet without any trouble.
In short, the Neteller is an app that acts as a single platform that combines all your resources, your debit cards, credit cards, and bank account all in one place; from here, you can transfer these funds just with an email address.
How to register an account?
To create a new Neteller account, the users can log onto the Neteller website. The homepage gives users the option to either create a new account or sign in to existing accounts. Once you click on the ‘create a new account’ option, the site presents you with a form asking for basic details.
Firstly, you need to enter your first and last name, along with other personal details like the user’s house address, date of birth, gender, and phone number. The phone number should be valid, as the website asks users to verify it by sending a one-time pin on that phone number to confirm the entered details to ensure the user’s account’s security. Next, the form asks for the country you are signing up from, and the users can choose from over 200 countries around the globe.
The following field asks for the currency that the user wants the wallet to be in. The dropbox presents users to opt from 30 currencies, including the dollar, euro, Canadian dollar, Australian dollar, etc. One thing to remember here is that users cannot change their currency preference once it has been chosen; hence they need to be careful here. After that, the users need to enter the email addresses they want to associate with their Neteller wallet, and after that, they’re asked to choose a strong password to protect the account. The password needs to contain one capital letter, one numerical digit and needs to be longer than eight characters so that Neteller can ensure security. Once the users have confirmed their email addresses, they’re free to use the Neteller wallet and can get to making transactions instantly.
Neteller Fees and Limits
Different Fees for Different actions
Customers using Neteller as your e-wallet comes with some fees as well. There are numerous ways for users to deposit transactions: MasterCard, visa card, and Epay, to name a few. The deposit fee for all these alternatives stands at a constant rate of 2.5%. However, if an amount of USD 20,000 or more is being deposited into the account, the deposit fee rate is not applicable and automatically gets canceled out.
The rates for money withdrawal fees, on the other hand, are a bit more complex and different. Five different withdrawal fees can apply to variant users according to their preferences.
Neteller Fees
- Bank Transfer: users are charged a total of USD 10 on withdrawal through the bank.
- Member Wire: the rate for member wires is USD 12.75
- Merchant Sites: withdrawals through merchant sites like RubixFx are made short of any withdrawal fee.
- Money transfer: the fee charged to transfer money from one Neteller account to another is 1.45%, and the minimum amount that customers can transfer between two accounts is USD 0.50.
- Neteller to Skrill: a withdrawal fee rate of 2.5% is charged for transactions made from a Neteller account to a Skrill account (unless the amount being transferred is USD 20,000, in that case, the transfer is free).
Lower Fees for Higher VIP accounts
The limits of cash withdrawal vary according to the type of account a user may have. For instance, users having an unverified Neteller account can withdraw money ranging from USD 20 to USD 2,500 on credit card transactions and USD 5,000 to 50,000 in the case of Neteller to Neteller transfers. On the other hand, users with a verified Neteller account can make deposits up to USD 15,000 on credit cards and USD 50,000 on Neteller to Neteller transfers.
Verification
Once you have become a Neteller user, you’ll need to keep the account as secure as possible. There are two ways that users can ensure security for their Neteller e-wallets;
Through the Neteller website:
- Firstly, you need to log on to the Neteller website and go to the Settings tab from the drop-down menu.
- The user will then go to the ‘verification’ tab and click on ‘Verify now,’ which will automatically lead to the verification window.
- Verification can be done in a few steps listed below
- By linking your Facebook account. Through this, the verification process becomes a lot less complex as the Neteller site can get most of the required data for verification through the user’s Facebook account.However, since many users don’t have active Facebook profiles, this step is optional and can be skipped if need be.
- The users are presented with two more ways to provide the network with the required personal data; uploading a recent picture or taking a picture. It’s advised to go for the first option.
- After choosing your relevant country from the drop-down box, users need to choose the desired verification document to upload one by one. This form includes their passports, identity card, or driver’s license.
- Once you’ve successfully submitted the identification documents, your verification request will go into the review, and you’ll be made to wait while the website analyzes the uploaded documents.
- The next step is to verify the location of the user. This process can be done either by turning on your live geolocation for the website to track or providing Neteller with proof of your current residency details.
Once all these steps have successfully been completed, the website will show a message stating that verification has been concluded, and at this point, users can exit the page.
Through the Neteller Mobile App:
- The first step would be to download the Neteller mobile application available on the Google Play Store and the IOS App Store, and then log into your Neteller account.
- Next, the user needs to go to the ‘verification’ tab to start the verification process.
- Before starting the uploading procedure, the users are asked to upload their identification documents to choose from between their Passports, Identification Card, and Driver’s Licenses.
- The app then asks the users to upload a selfie where their face is correctly aligned with the camera’s angle so that the scanner can correctly scan the facial feature before uploading.
- Once this is done, the app will ask the user to turn on their geolocation. If the user wants to enter the residential details manually, the app will require proof in the form of utility bills of your current location, bank statements, and tax certificates.
- After attaching all the required material, the app will notify its user that the documents are under analysis.
The verification process takes 3 to 7 days and is only applicable when the user has paid the verification fee of $5; once this is done, the user will now have a verified Neteller account.
Security
Deposits
Neteller allows its users to deposit money into their wallets through various ways, each suiting individual users; this includes;
- Bank transfer
- Rapid transfer
- Credit Card
- Debit Card
- PaySafe Card
- PaySafe Cash
– And a few other methods using local service providers that are operant in different countries.
Withdrawals
There are over 35 options that users can use for withdrawing their funds, each having similar withdrawal fee rates. The most popular ones include:
- Master Card
- Visa Card
- Epay
- Bank Transfer
- Skrill
Neteller VIP Program
The Neteller VIP program consists of five stages that users can reach by satisfying a set of rules and regulations that each stage requires. After every successful transaction, you get closer to the next stage of the VIP program, and each stage comes with more and more benefits and perks for the users, including reduced withdrawal costs, increased limits, and a lot more. Once a user verifies his account, he is automatically added to the VIP program and can enjoy the benefits at each transaction he makes using the Neteller e-wallet.
The stages of this program are listed here:
- Bronze (Bronze Pro free via eWR!)
- Silver (Only $ 7 500 in deposits if registered via eWR!)
- Gold
- Diamond
- Exclusive
Benefits:
- Decreased deposit and withdrawal fees and discounted exchange adjustments on different currencies according to the user’s preference.
- Same-day withdrawal is available for users that have reached the Gold, Diamond, and Exclusive status.
- No transfer fee is charged for users on and above Silver level transferring between Neteller accounts.
- Increased transaction limits applied for users on the Silver stage and up.
- ATM cash withdrawal limits for MasterCard raised $1000 per day for the Bronze stage and $3,300 for Gold and up.
- Chatrooms and a personal supervisor are available 24 hours a day, seven days a week, in your preferred language.
- Chances to participate in special events hosted by Neteller.
Neteller Master Card
- The NET+ Prepaid MasterCard is a physical card, and
- Net+ Prepaid Virtual MasterCard, which is a digital card.
The prepaid Master card is a physical debit card composed of polymer plastic to withdraw money from ATMs that accept MasterCard. This process is a sensible alternative since there are countless all over the globe.
Furthermore, there is no month–to–a month or annual charges associated with the Neteller Net+ Prepaid MasterCard, and users don’t even have to pay a fee if they don’t use your card for a while, in the form of an inactivity fee.
The Neteller virtual card is another great alternative for users who don’t want to rely on physical cards. It’s wholly virtual and works in the same way as a debit card while shopping online.
By opting for this option, users have less to worry about misplacing the card, and this option is even more secure as no pick-pocket can get a hold of your card in any case. Additionally, the virtual card isn’t linked to any credit card, making it even more challenging for users to become prey to fraud.
The Neteller app
With technology taking over the world, everything has become virtual as people become increasingly reliant on their mobile phones. Thus, having a mobile app is essential, especially for users who use Neteller for everyday transactions and need easy access to their funds.
The Neteller mobile app allows its users to transfer funds, withdraw cash and receive capital in a few easy steps, at any time from anywhere around the globe. The app is easy to use, user-friendly and has a catchy theme that makes day-to-day dealings child’s play for Neteller clients. Furthermore, the app is available on both the Google play store and the IOS App store, hence easy access for all mobile users.