What is a Neteller account?

What is a Neteller account?

by | Feb 10, 2022 | 0 comments

What is a Neteller account?

Neteller is a leading name in the world of digital wallets at present. It was founded in 1999 and started its service as a payment method in a limited number of countries at that time. Nowadays, it operates in nearly 200 countries, allowing users to transfer money between them. It is owned and operated by the Paysafe Group, previously known as Optimal Payments PLC.

Neteller, with its popularity as a money transfer service, also allows consumers to make online payments. Neteller also offers a prepaid card to its customers, and it can be used to make secure online payments at retailers who accept Neteller or Mastercard.

Neteller and Skrill

In 2015, Paysafe Group acquired Skrill, one of the largest eWallet providers in the world and a former competitor of Neteller. So, the users of both these eWallets can benefit from using these two applications together. It enables users to easily fund their Neteller wallets via Skrill and vice versa.

Registering a Neteller account

Registering a Neteller account is simple and less time-consuming. Follow the instructions to register an account and instantly upgrade to Bronze Pro for free.

Steps to create an account

  • Go to the Neteller website or click here to create your account via eWalletsReview and get your account upgraded to the Bronze Pro VIP program automatically.
  • Then, enter your personal details like name, address, valid phone number, date of birth, etc. into the registration form. After that, you are required to choose your country from a list of 200 countries.
  • Following that, choose the currency and enter your email address, which you want to associate with your Neteller wallet, and set a strong password.
  • They will send a one-time pin (OTP) to your phone number and an activation mail to your email address. Once you activate your email address and verify your phone number, you are ready to use the wallet and start the transaction immediately.

Security of Neteller

For the protection and confidentiality of its consumers and their information, it employs the Paysafe software. Two-step authentication is used by the software, which makes the account more protected and less hackable. To enable two-step authentication, you have to set your phone number or email address as the medium to get an authentication code each time you log in to your account.

The authentication code keeps changing every 30 seconds, which makes sure no one can follow this code and hack your log-in credentials.

Neteller fees

“The good things in life don’t come free.” It applies to Neteller as well, as there are some fees associated with deposits, withdrawals, and money transfers. Let’s check these fees out:

Deposit fees

Several deposit options for users to deposit funds into their wallet, including credit debit card, net prepaid mastercard, bank account, Epay, etc. are there. All of these options have a fixed deposit cost of 2.5%. However, the deposit fee does not apply to deposits of USD 20,000 or higher.

Withdrawal fees

Depending on the user’s selections, there are five distinct withdrawal fees that can be applied.

  1. Bank transfer: The charge for withdrawing money from your bank account is $10.
  2. Member Wire: The fee for member wires is $12.75.
  3. Merchant sites: Mostly free.
  4. Neteller to Skrill: 2.5% withdrawal fee to transfer money less than $20,000.

Money transfer fees

  • Neteller to Neteller: For the first inter-account transfer, the fee is 20% with a $30 minimum amount. From the second transfer, the fee is reduced to 1.45% with a $0.50 minimum transfer amount.

Neteller VIP program

The Neteller VIP program is divided into five phases, each of which requires users to follow a set of rules and regulations. Each successful transaction moves you closer to the next step of the VIP program, which offers even more benefits and incentives to customers, such as lower withdrawal fees, higher limits, and so on.

The five stages of VIP status are,

  • Bronze (Bronze Pro is free via eWalletsReview)
  • Silver (Only $7,500 in deposits if registered via eWalletsReview)
  • Gold
  • Diamond
  • Exclusive

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