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NETELLER review
Learn all about NETELLER's e-wallet features and fees.
NETELLER is a digital wallet that supports up to 27 different currencies. From online shopping to crypto payments, NETELLER offers a huge range of features to meet your payments needs. This review will cover how NETELLER works in Germany, including the features offered by NETELLER’s prepaid Mastercards.
€0.66
Monthly fee
1.75%
ATM fee for Euro withdrawals
3.99% per payment
Currency conversion fee
| Product Name | NETELLER Net+ Prepaid Mastercard |
|---|---|
| Monthly fee | €0.66 |
| Card delivery | 10 business days |
| Supported currencies | GBP,SEK,DKK,USD,CAD,AUD,EUR |
| Card fee | €0 |
| ATM fee for Euro withdrawals | 1.75% |
| Currency conversion fee | 3.99% per payment |
| Mobile payments | Apple Pay,Google Pay |
| Card type | Mastercard |
| More Info |
| Product Name | NETELLER Net+ Virtual Prepaid Mastercard |
|---|---|
| Monthly fee | €0 |
| Card delivery | 10 business days |
| Supported currencies | GBP,SEK,DKK,USD,CAD,AUD,EUR |
| Currency conversion fee | 3.99% per payment |
| Mobile payments | Apple Pay,Google Pay |
| Card type | Mastercard |
| More Info |
What's in this review?
How NETELLER works in Germany
In general, a NETELLER account allows you to send and receive money online while conducting safe transactions. Here’s the breakdown of how NETELLER works for each of its features.
What can you do with a Net + Virtual Prepaid Mastercard?
The benefits of a Net + Virtual Mastercard go beyond online transactions. Let’s dive into the array of features offered, from special rewards to cryptocurrency payments.
NETELLER e-wallet and online payments
- Affordable and quick. Enjoy digital payments with no monthly account fees.
- Convenient top-ups. Top up your NETELLER account anytime you want, for a fee of 2.5% per top-up.
- Use globally. Enjoy quick bank transfers and ATM withdrawals worldwide.
- Merchant-friendly. Net + Virtual Prepaid Mastercards are accepted wherever Mastercards are.
- Secure payments through Paysafe. All transactions are protected by Paysafe, which is an electronic money issuer regulated by the Financial Conduct Authority in the United Kingdom.
International money transfers with NETELLER
- Send money worldwide. You can send money to bank accounts over 180 countries worldwide, even to individuals without a NETELLER account.
- Send money to friends with a NETELLER account. When sending money to a NETELLER account, a fee of 1.5% applies with a minimum transfer amount of 0.50 USD. A higher one-time fee may apply if you’ve yet to make deposits into your NETELLER account.
- Send money for free with Skrill. NETELLER partners with Skrill such that if a NETELLER customer opens a Skrill account, he/she may send money worldwide.
Rewards with NETELLER
- Rewards Points Program. Join NETELLER’s Rewards Points Program and earn points each time you move money in and out of your accounts. Points may be redeemed for cash.
Cryptocurrency services
- Over 28 currencies available. Buy crypto and enjoy currencies like Bitcoin, Bitcoin Cash, EOS, Ether, Ethereum Classic, Litecoin, and XLM.
- Buy and sell crypto in a matter of seconds. Buy and sell crypto at a fee of 1.5% (USD, EUR) or 3% (other currencies).
Compare NETELLER with other digital banks in Germany
*You must transfer at least 3 salary payments (wages, salary, pension, salary, BAföG) of at least 1,000 € per month by 31 March 2021.
How much does NETELLER cost?
Net+ Prepaid Mastercard
- Annual fee of €8
- Card issuance fee of €10
- No payment fees
- Foreign exchange fee of 3.99%
- ATM withdrawal fee of1.75%
- Lost card replacement fee of €10
- Inactivity fee (12 months) of 5 USD
Net+ Virtual Prepaid Mastercard
- Add-on card fee of €2.50 per card
- 1.5% transfer fee to another NETELLER account
- Crypto-related fees should you choose to buy/sell crypto
- 2.5% top-up fee
- Inactivity fee (12 months) of 5 USD
Do note that additional fees may apply when you go above the set card limits, such as exceeding your 10 daily purchase limit up to €6,300 with a Net + Virtual card.
Is the Net+ Virtual Prepaid Mastercard safe?
NETELLER is an e-wallet and payments service provider rather than a digital bank. It, therefore, does not possess any form of banking license, nor is it regulated by the Federal Financial Supervisory Authority. As a result, it is not advisable for you to treat your NETELLER digital wallet as a bank account for you to store large sums of cash.
However, as an e-payments system, NETELLER does offer virtual features to enhance the safety of your account. This includes industry-standard encryption for sensitive information, a secured data centre for storing user information, 24/7 transaction monitoring by live agents and a 24-hour customer support team. NETELLER also has a Secure ID and Strong Customer Authentication features to enhance the protection of your NETELLER account.
Ultimately, you should read reviews online and give their customer service centre a call to gauge the quality of protection your account may be offered. Additionally, you may want to treat your account like you would treat a physical wallet — you should only include as much money in it as you are willing to lose.
Pros and cons of NETELLER
- Security and safety associated with using a debit card.
- Virtual Mastercard offers quick and easy online payments.
- Users who spend and receive cash in multiple currencies may enjoy holding up to 28 currencies in their e-wallets.
- Hold multiple Virtual Mastercards at a time and customise each one to your preferences.
- Use the physical Mastercard for ATM transactions and secure payments in real life.
Cons
- Not a regulated platform.
- A range of fees that may add up, including top-up fees, card fees and foreign currency fees.
- Many limits placed on the number and amount of transactions that may be conducted.