Review: Neteller money transfers

Neteller offers instant transfers in 20+ currencies to other Neteller account holders, but beware expensive fees, bad reviews and questionable customer service.

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  • Good for instant transfers to another Neteller account.
  • Not so good if you want a cheap and simple transfer process.

Neteller exchange rates and fees

Neteller charges a transfer fee of 1.45%. In addition, you’ll be charged a 2.5% processing fee to deposit money in your Neteller account before it can be transferred.

Neteller also adds a margin to the interbank mid-market exchange rate. Plus, it charges a foreign exchange processing fee of 3.99% (for non-VIP members; 1% for VIP members), which it claims is to protect against exchange rate fluctuations.

Available currencies

You can use Neteller to transfer money into 22 different currencies. Some of the most popular currencies that Neteller covers include:

  • EUR euro
  • USD United States dollar
  • PLN Polish zloty
  • SKK Swedish kronor
  • DKK Danish krone
  • CAD Canadian dollar
  • AUD Australian dollar
  • INR Indian rupee

What types of transfers can you make with Neteller?

Neteller lets you send money to another Neteller account, via email or by mobile phone.

How long does a transfer with Neteller take?

Neteller says you can send and receive money around the world instantly.

If the recipient is a Neteller member, the funds will be automatically credited to their account.
If they don’t have a Neteller account, they’ll get an email explaining you’re trying to send them funds and they will need to register for a Neteller account within 30 days to receive the funds.

What payment methods does Neteller accept?

Money is transferred through your Neteller account, so you’ll need to add funds there. You can add money in various ways, including with a debit or credit card, Rapid Transfer, a Skrill e-wallet or a Paysafe card. Be aware that you’ll be charged a 2.5% processing fee to deposit money.

Transfers typically takeClock icon for transfer speed

1 day

Is Neteller safe to use?

  • Regulation: Regulated by the FCA
  • Security: Neteller says it holds 100% of your account balance in trust accounts. Logging in and making transfers requires two-step verification.
  • Established: 2000
  • Customers: Claims to have over 23 million account holders worldwide*
  • Reviews: Rated as “Bad”, a 1.4 out of 5, on Trustpilot based on more than 580 reviews*
*According to Neteller and Trustpilot on 19 February 2020

How does Neteller make money?

Neteller makes money by charging various transfer fees and by adding a margin to the interbank exchange rate.

How to register

How do I make an international money transfer with Neteller?

What is Neteller?

Neteller is owned and operated by Paysafe Financial Services Limited, which also owns Paysafe card and Skrill, the digital wallet account. Based in the UK, Neteller is a payment processing service that is popular with the British online casino and gambling industry.

In a nutshell

Pros

  • Instant transfers. Neteller says you can send and receive money around the world instantly – all you need are funds in your account and a recipient’s email or mobile number.

Cons

  • Expensive. Neteller charges at least three different fees including adding money to your account, transfer fees and foreign exchange processing fees.
  • Recipient must have a Neteller account. They’ll need to sign up with Neteller within 30 days of the transfer in order to receive the money.
  • Bad reviews. Neteller is rated as “Bad”, 1.4 out of 5, on Trustpilot based on more than 580 reviews.*
  • Questionable customer service. The reviews on Trustpilot mention poor and slow customer support.

*According to Trustpilot on 19 February 2020

How does Neteller compare to other services?

Table: sorted by promoted deals first
Our table below lets you compare the services you can use to send money abroad. Choose if you want to send under or over £10,000, and you’ll be shown a list of services that can help you.
Data updated regularly
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
TransferWise for large transfers
Within an hour
From £3.75

View details
TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
TorFX
24 hours
£0

View details
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
SpartanFX
24 hours
£0

View details
SpartanFX has fee-free transfers, a best exchange rate guarantee and personalised one-to-one support for every customer.
Universal Partners FX
24 hours
£0

View details
Universal Partners FX offers competitive exchange rates and same-day transfers in 100+ currencies.
PagoFX for large transfers
Within an hour
Varies

View details
PagoFX offers fast and cheap international money transfers from the UK and is backed by Santander.
Currencies Direct
Within an hour
£0

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyTransfer
24 hours
£0

View details
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Central FX
24 hours
£0

View details
CentralFX's dedicated team will guide you or your business from first call to final payment.
TransferWise
Within an hour
From £3.75

View details
TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
PagoFX
Within an hour
Varies

View details
PagoFX offers fast and cheap international money transfers from the UK and is backed by Santander.
XE Money Transfers
24 hours
£0
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
XE has fast transfers with no fees and a range of foreign currency tools.
Azimo
Within minutes
From £0.99
SPECIAL OFFER ✓ First two transfers free for new customers.

View details
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
CurrencyFair
24 hours
€3
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Remitly
Within minutes
From £1.49
SPECIAL OFFER ✓ Free transfers and better exchange rates for new customers

View details
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within an hour
From £1.99
SPECIAL OFFER ✓ Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
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