At some point, you must have needed to make a payment through the internet. This procedure has been greatly facilitated with the advent of digital wallets. This is where Neteller comes in, a secure, fast, and easy to handle digital wallet.
This payment method is recognized for its great accessibility; however, it presents certain complaints. For this reason, we bring you a summary of the most important features you should know about this digital wallet.
How does it work?
To use Neteller you only need to register on the web platform. This registration is free of charge and requires basic personal information.
Once you complete the registration process, you must make a deposit in your Neteller account. This can be done through a variety of methods.
With this digital wallet, you have the ability to execute international payments without any commission. The platform even has more than 20 different currencies within the exchange system. Through this, the money you send will be automatically converted to the indicated currency under a pre-established rate.
We must highlight the high presence of this digital wallet. It is usually received on a large number of platforms and businesses around the world. For this reason, it represents a payment option to take into account.
On the other hand, Neteller has a prepaid card system. You can easily apply for it through the website. With this card, you are able to have at your fingertips all the funds in your Neteller account. At the same time, it can be used in more than 35 million establishments worldwide.
How much does it cost?
There are fees charged for making the transfer. This will depend on the account receiving the money and the amount sent. The fee can be up to 4.99%.
If the payment is made from one Neteller account to another, the fee will be reduced. In this case, there is a minimum fee of 0.50$, which can be increased up to 2.99%.
On the other hand, the receipt of money by transfers or Neteller accounts does not have any cost. Only the amount will be deducted from the user who makes the transfer.
Regarding the Net+ prepaid card, you will be charged an annual fee of $10. In addition, the fee is subject to the same terms of payment between Neteller-Neteller accounts.
The platform also has affiliate programs with reduced commissions. If you are a Neteller Standard account user, the Neteller-Neteller commissions will maintain the previously mentioned cost. On the other hand, if you are a Neteller True user, the commission will be 1.45%.
To access this type of account you only need to earn points using the digital wallet. These will be obtained when making any type of payment. In addition, they act as coins redeemable for prizes within the Neteller mobile application. Before that, you must have subscribed to Neteller’s Knect program.
They also have a VIP account program
This is the ideal option in case you are a merchant or someone who needs to send and receive money constantly. With this type of account you will enjoy:
- Personal managers
- Lower exchange rate commissions
- Deposits and withdrawals with reduced commissions
- Exclusive promotions
Finally, they have a section exclusively dedicated to the management of cryptocurrencies. In this function, you can buy and sell these currencies immediately and earn Neteller VIP points.
Payment methods
The available deposit methods are extremely varied. There are 40 different ways to fund your Neteller account. It should be noted that regardless of the payment method, a 5% deposit fee will always be added.
Among the available options, we find Visa, Mastercard, Skrill, Trustly, Santander, Efecty, Oxxo, Sofort, and many more options.
Regarding withdrawal methods, there are not as many as those available for funding. You can only withdraw through bank transfers, Member Wire, Skrill, and Visa.
In the case of bank withdrawals, these have a fixed fee of $10, while in Member Wire it is $12.75. On the other hand, Skrill and Visa have fees of 3.49% and 0%-7.5% respectively. For the latter, the commission will depend on the amount sent by the user.
Is it reliable?
The security of the platform is extremely high. There are no complaints related to unsuccessful payments or unsolved problems within the platform. Any money movement in Neteller is executed instantly and completed in the time established by the platform.
However, there are some negative opinions related to the high commissions. Certainly, Neteller has high fees when compared to other competitors or directly to bank transfers.
However, this does not diminish in any way the security that transmits at the moment of using our money.
Customer service
They have the classic system of frequently asked questions. This section is complete enough to solve any problem you may have.
In case you do not find what you are looking for, you can contact the Leo support bot. This is only available for Neteller users and works by entering your registration email.
It does not have a live chat system or personalized help.
Pros
- Immediate payments
- Various exclusivity systems
- Multiple deposit methods
- Diversity of currencies for international payments
- Received as payment on multiple platforms
Cons
- Few withdrawals methods
- No live chat
At the end
Overall, this is a great option as far as the digital wallet market is concerned. At first, we may think that the commissions are excessively high. However, these are at the same level as those found in other platforms such as Skrill.
With its loyalty program and the diversity of commission discounts, it seems a good option for the merchant. It offers fast, secure, and extremely simple payments. If you are a frequent shopper it wouldn’t hurt to have a Neteller account.
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