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Neteller has a lot of fine details to keep in mind when first getting started. One of the more confusing aspects of their business for many users is their fees - so today, we’re breaking down everything you need to know about Neteller’s fees. We’ll also answer some commonly-asked questions related to what Neteller charges fees for, what they offer for free, and why they charge the fees that they do.
So - what’re we covering today?
Today’s Topics Include:
With that out of the way, let’s get into things. After all, there’s no sense in wasting time, right?
Let’s start with the most important thing - an actual breakdown of Neteller’s most common fees, sorted by account status. After that, we can talk about why Neteller charges the fees they do, what they charge to do, what they don’t, and more.
Now, I’m going to apologize right off the bat. This is going to be a very number-dense section, but there’s really nothing to do about it. Just rest easy knowing that if you’re tired of numbers, I’m a writer - maths is the bane of my existence. Now - here are all of Neteller’s fees in one, easy-to-find spot:
It’s worth noting that no matter your VIP or verification status, all accounts have the following fees and conditions attached to them:
This answer varies on your chosen method of sending money. Instant bank transfers are generally both free and instant, whereas card transactions come with a small fee for non-VIP users.
VIP users (Silver or higher) can send money to other Neteller users for no fee, and all users can send money to merchants without fees.
For more detailed information, you can either inspect the graphic above for a list of the most common fees or head to the Neteller Fees page. If you opt for the latter option, be sure to select your home country and language in the top right-hand corner for information accurate to your location.
Neteller charges users to withdraw because it’s industry standard for P2P lenders, e-wallets, and similar services, regardless of where you live. Generally, these fees will be limited to a negligible amount, usually less than £10.
Fortunately, though (as mentioned above), Neteller’s fees are actually quite competitive. They charge less than many other similar services do for the same privileges, and try to keep it to a reasonable fee for all users - though obviously, VIP users get more favourable fees.
Now, I don’t expect you to just take my word for it - you saw that there are fees for multiple types of transactions, so obviously, Neteller does cost something. So, here are a few bits of important data to keep in mind when looking at Neteller fees:
It’s also worth noting that most P2P lenders/services charge fees between 1-6%, and they’re generally much higher than those Neteller charges. Hell, MasterCard charges 2.99% for cash withdrawals on almost all cards in the U.K., with a minimum of £2.99. That free P2P fee and cash withdrawal fee seems pretty nice now, doesn’t it?
For more information, visit Neteller’s Fees page. Be sure to select your home country/language in the top right-hand corner to get information accurate to your location.
While there seems to be a bit of confusion around Neteller’s fees, they’re really both pretty straightforward and quite reasonable. Neteller generally keeps their fees below the industry average, limits how much you’ll pay in fees to keep costs on your part down, and treats their VIP members very well.
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