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.
- Good for instant transfers to another Neteller account.
- Not so good if you want a cheap and simple transfer process.
What's in this guide?
- Neteller exchange rates and fees
- Available currencies
- What types of transfers can you make with Neteller?
- How long does a transfer with Neteller take?
- What payment methods does Neteller accept?
- Is Neteller safe to use?
- How to register
- How do I make an international money transfer with Neteller?
- What is Neteller?
- In a nutshell
- How does Neteller compare to other services?
- Frequently asked questions
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.
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 take
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*
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
- 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.
- 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?The table below shows the fees and exchange rates you can expect from other money transfer specialists compared with Neteller. Compare it with other providers to see if it’s the best option for you to send money abroad.
Frequently asked questions
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