Neteller Brokers 2021 - Which Brokers Accept Neteller?
Neteller is one of the biggest independent money e-wallet and transfer solutions for individuals, traders and businesses alike. You can set up accounts in 26 major currencies and money can be loaded into the account from a bank, credit or debit card or via about 50 other methods. It is a popular payment method among the best online brokers
Keeping money in an active account is a great way to carry out online transactions, including shopping wherever Mastercard is accepted, as well as transferring money to other Neteller account holders.
Neteller Brokers
Overview
Look for the Neteller logo on thousands of your favourite sites and, once you have deposited money into your standard account, or Net+ account, you will be able to access that balance whenever you wish.
With Neteller, you simply deposit money into your account and you are ready to go – it really could not be simpler.
Features include:
Withdrawing Funds
Withdraw money directly to your bank account and access funds at thousands of ATMs around the world. Whatever your preference, Neteller has the solution.
Net+ Prepaid Mastercard
The Net+ Mastercard allows you to spend any funds that you have in your account anywhere that accepts Mastercard.
You can also withdraw your cash directly at ATMs around the world and shop online as you normally would with your regular credit or debit card.
The Net+ Mastercard is available in 8 different currencies: GBP, USD, EUR, JPY, AUD, DKK, CAD and SEK.
Advantages
- Flexible, fast and efficient money management for your trading strategies
- Faster deposits and withdrawals than a regular bank
- The facility to hold accounts in various currencies with no FX fees
- Plastic and virtual Prepaid Mastercards for easy access to your cash for online and offline spending
- A VIP reward program that allows you to earn up to 0.80% cash-back on transactions and additional rewards.
- Participation in the Neteller VIP rewards plan along with the eWallet Booster plan gives you an instant Bronze Pro VIP upgrade and the ability to earn a large rebate on your transfers.
- Neteller can be used for small to substantial transactions in many sectors and across a variety of platforms, making it a very popular tool.
- All funds received are 100% secure and there are no charge-back issues.
- Online fraud protection
- 100% guaranteed transactions
Drawbacks
Fees
A notable disadvantage of using NETELLER is the fees that they charge. Almost all transactions carry fees, which can quickly add up. There are premium memberships which you can apply for, reducing some of these fees.
Withdrawal Limits
There might also be applied limits to the amount of funds that you can withdraw from your account. This could be a problem when withdrawing a large amount of money.
Verification
Depending on the platform, verification is a long process. In order to verify an account, Netller sends an ID to the company, which might not be popular with everyone. Generally, it is a quick process.
Speed Of Payments
Swift and easy to use, transactions are instant when you make payments with Neteller. You can deposit money into your account and it becomes available instantly.
Security
Highly secure – When you make a deposit, you can rest assured that the transaction is safe because the company uses the latest security features and anti-fraud tools.
Customers have the option to activate the Two-Step Authentication feature to add an extra layer of protection against unauthorised entries into their account.
Deposits And Withdrawals
Using a Neteller account allows you to easily deposit and withdraw your funds to a wide variety of merchants.
The account lets you move your money around sites quickly and without the long delays of waiting to receive your funds back.
Fees Or Costs
Though there is no charge to use Neteller for online purchases, when you deposit money into your account, you will have to pay a transaction fee of 2.5%.
Withdrawals will also come with fees per transaction:
Bank transfer – £/€5-£/€10
Member wire – £/€12.75
Money transfer – 45% with a minimum of £/€0.50
Net+ Prepaid Mastercard – 0 to 1.75%
Foreign Exchange
Neteller adds a 3.99% processing fee to protect against exchange rate fluctuations when making transactions in foreign currencies. This represents quite an expensive way to exchange currencies.
Lower Exchange Rates For VIP Members
VIP members only pay a reduced foreign exchange fee of 1%
Money Transfer
Depending on how you manage your Neteller funds, you will have to pay different fees. Generally, this is 1.45% with a min of USD 0.50, going up to 2% for funding your account.
It doesn’t sound like a lot but, depending on the transaction, fees can rise to almost 6%. When you are trading a large amount of money, these fees are certainly substantial.
You really need to investigate whether it will be worth it to deposit and withdraw money with Neteller.
Inactivity Fee
The Neteller account is free as long as you log-in or make a transaction at least every 12 months. If you don’t, you will be charged a monthly fee of around $5, which will be deducted from your balance.
Is Neteller A Good Choice For Traders?
- Internationally acceptable – Neteller is an international payment system which is used by residents of more than 200 countries.
- Verification process – The process is normally quick and only requires one form of ID, which you can scan and upload.
- Verification only happens if you withdraw money.
- Redeemable reward points – Points can be earned every time a deposit or withdrawal is made, which can then be redeemed for cash. There are also a number of exclusive promotions.
FAQ
Are there any Neteller bonuses?
Bonuses can be earned via the VIP programme with various benefits like accounts in multiple currencies, a dedicated VIP chat service, lower foreign exchange fees, and so on.
What countries can use Neteller?
Neteller provides services to 202 countries. Please refer to their website for the extensive list.