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Neteller is a e-payment and money transfer service, used widely by forex brokers and other internet companies. You can open an account at Neteller in 26 major currencies and it can be used to pay merchants or any retailer that accepts MasterCard using the Neteller prepaid card that is a part of the account.
You can also withdraw your funds directly using the Net+ prepaid MasterCard or transfer your Neteller balance to your bank accounts.
Neteler has an upload fee, (when you are funding your Neteller account) of 2,5% in case the sum is less than 20 000 USD. If you are funding your account with 20 000 USD or more there is no upload fee.
Here we should also note that you can fund your Neteller account via 60 different payment methods.
About the withdraw options – via a bank transfer there is a fixed fee of 10 USD, if you just pay at a merchant site that works with Neteller there is no fee at all, while money transfers will generally cost you 1,45% of the transferred amount or minimum 0,50 USD, and if you use the Net+ prepaid MasterCard the fee is 1,75%.
Neteller has basically global coverage so it is easier to list the countries and territories, where the service has no coverage – those are basically countries in parts of Africa and Central Asia, some Middle Easter countries like Iraq and Iran, as well as some islands in the West Indies and the Pacific, mostly offshore territories.
The service is owned and operated by British global payments company Paysafe Group, which was originally established in Canada under the name Optimal Payments Plc back in 1999.
Neteller is regulated by the Financial Conduct Authority in the UK, which requires the company to keep customer funds in segregated, trust accounts, separate from Neteller operating cash, sufficient to repay all customer balances at the same time.
In 2015 the company bought their main competitor Skrill Group – one of Europe’s largest online payments services and among the world’s largest independent digital wallet providers.
Forex news about Neteller
Forex broker FreshForex has cancelled commission fees on deposits via Neteller and China UnionPay, the broker said on Thursday in a notice.
Online forex broker ForexTime (FXTM) said on Monday its clients can make deposits and withdrawals to and from e-wallet Neteller in GBP,
MetaQuotes, the developer of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) forex trading platforms, said on Thursday it has added ePayments