Neteller is this a scam? Review and Customers Reviews

Why Neteller

Neteller – is one of the most popular and extensive payment systemscovering almost the entire world. Founded in 1999, it is based in London and positions itself as a system of instant online transfers.

Let’s see if the provider is that good, what is Neteller And is it safe to entrust my money to him? Or is Neteller a scam? Let’s start with the main thing.

First of all, Neteller (or rather, its owner) is regulated by the FCA, a British financial association that enjoys enormous credibility due to its strict system of transaction control. What’s more: the provider is an authorized agent of the association and protects users’ personal data and funds from fraud according to modern international standards. Your money is kept in independent (segregated) accounts, so it is virtually impossible to steal it. Secondly, Neteller has a rather low cost of service among global systems (take for example PayPal).

Thirdly, it is possible to handle not only electronic currency, but also cash. It is enough just to issue a Net+ Prepaid card (delivered in 2 to 10 working days, delivery costs 10 euros). It should be noted here that it is temporarily not available for Russians, but we hope and believe that everything will return to normal. And finally, it’s just convenient: in order to use the basic functionality (with a limit of up to $2000), you only need to confirm the phone number. Large transfers require passport and address verification. Plus you work with any payment agents: banks, mobile operators, other systems (Moneta.ru, Skrill, Yandex.Money, QIWI), etc.

Neteller for sports betting

Almost all representatives of online gambling cooperate with Neteller. This means that deposits and withdrawals from an account created in betting shopIt will not be difficult. As for the commissions, it is on average 1.45%, but may be more (all depends on the country of registration of the Internet resource). In addition, the bookmaker itself may charge its own fee for transactions between the wallet and p/w, it is open. There is another important point we would like to draw your attention to: a number of betting companies do not provide bonuses (welcome packages) to those gamblers who make their first deposit through Skrill.

Neteller for buying/selling cryptocurrency

Neteller allows you to instantly purchase and sell cryptocurrency in those exchangers and exchanges where this payment system is supported (it is supported almost everywhere, since it is the most popular payment agent). It supports 28 cryptocurrencies, including Bitcoin, Bitcoin Cash, XRM, Ethereum, Litecoin, EOS, XLM and ZRX. The commission is fixed: 1.5% when buying/selling for dollars and euros, 3% for other c.u.

There’s no need to open an additional electronic wallet. You work from your personal account, choosing one of more than 100 methods of deposit/withdrawal: card, another cryptocurrency wallet (created directly within the platform), banking, etc. The exchange rate, as the provider promises, is competitive with the market average. Minimum amount to be exchanged is about 10 EUR (and its equivalents in other currencies) – the exact figure is determined by the current market situation (How to Make Money on Cryptocurrency?).

How do I use Neteller to pay for goods and services?

In order to use NETELLER with maximum benefit you need:

• just sign in;
• fill out the form hereto join the discounted program;
• to pass the verification of the account.

The main thing is to specify real personal data, because during account verification problems may arise when you are asked to send scans of documents. Using the NETELLER payment system you can access your account via a browser or a mobile application for smartphones. The latter allows you to quickly and securely access your funds regardless of your location. All you need is a smartphone and Internet access.

To pay for goods and services using Neteller, you need to register a personal wallet on the website neteller.com, undergo identity verification (entered for security purposes) and deposit the account. When making transactions, a 12-digit account identifier (purse number) is used, and a 6-digit identifier if 2-step protection is connected (reduces the risk of third parties writing off funds from the balance). At the store’s website, choose the desired catalog item, find the “Replenish/Purchase” item (it can also be called “Free Money”, “Cashier”, “Crediting”, etc.), and select Neteller. Then log in to your account and confirm the payment. Important: You do not need to specify your Neteller EC password on the store. If you are asked to do so, you are most likely faced with fraud.

How to register in the payment system neteller.com?

Registration on neteller.com free of charge. To initiate the procedure, click the button of the same name in the upper right corner of the resource and go to the form. Specify name and surname in Latin alphabet, e-mail address, and a password (it should include at least 1 capital letter and 1 digit, and be at least 8 characters long).

Then log in to the account using the specified username (e-mail) and password. We will open a personal account with the ability to deposit, receive and transfer money and cryptocurrencies. For users from the Russian Federation there is a verification procedure (we told about it below).

Account type

There are two types of accounts (accounts) in Neteller:

• Unconfirmed. It is assigned immediately after registration and allows to perform all basic operations (deposit, withdrawal, transfers, payments, connection to bonus program), but supports only basic limits. So, one time you can transfer no more than 1500-2000 USD depending on the country of residence.
• Approved. It is assigned after all the stages of identity verification (about them below). Transaction limits are wider here: for the same one-time transfers it is already 2500 USD.

There’s more. VIP Neteller account. Connected additionally, “on top of” the existing account. Gives the opportunity to expand the limit by sending applications to support (considered individually), as well as reduce the amount of commission for transfers.

How to get verified in Neteller?

As we have already said, users registered on the territory of Russia and creating an account in Russian rubles must go through the verification procedure. Depending on what status of the account you want to get, you fill out this or that form on the website neteller.com. To create a non-approved account, you must provide personal information: date of birth, gender, residential address with zip code, and mobile number. It is not necessary to agree to the advertising mailing. Note that the address is filled according to the European model: in the first line – street and house number, in the second – city and region. And in Latin letters (despite the fact that the regions in the list are written in Russian).

You will need to confirm your phone number by entering a 6-digit code from a text message sent by your provider. You will have 15 minutes to do this, then everything is reset and starts all over again. And – for security purposes – you will be asked to create a 6-digit security identifier. In the future, you will need to provide it to confirm any of your transactions. An approved bill requires passport details and proof of address – for example, a receipt for payment of services, where the address and full name are spelled out.

Depositing and withdrawing funds at Neteller

Given a user’s country of registration, there are up to 60 ways to deposit a wallet and about the same number of ways to withdraw. Recommended Neteller methods include bank transfers, own prepaid card of the Net+ Prepaid system, bank transfers via international payment networks and bitcoin wallets. In all cases, interest is charged for processing the transaction on top of the amount (i.e., consider that when sending, say, 100 USD, 101.5 USD or a little more will be withdrawn from the account, but if there is not enough money, the transaction will not take place). In addition, third parties may also impose their own fees.

Currency of operations

Neteller supports 27 types of currency units:

• Euro.
• American/Australian/Canadian/Singapore/Taiwanese dollar.
• British Pound.
• Russian ruble.
• Bulgarian lion.
• Brazilian Real.
• Colombian/Mexican peso.
• Chinese Yuan.
• Indian rupee.
• Hungarian forint.
• Norwegian/Swedish/Danish kroner.
• Malaysian Ringgit.
• Marrocan Dirham.
• Romanian New Leu.
• Polish zloty.
• Nigerian Naira.
• South African rand.
• Tunisian dinar.
• UAE Dirham.
• Swiss franc.

Currency conversion is done in euros or American dollars (depending on the account type and user’s country of registration). An additional fee of 3.99% is charged for it.

Commission

The standard fee for transferring funds from an account opened with Neteller to the account of another user (individual or entity) is 1.45% (but not less than $0.50). However, there may be additional fees if you funded your account with PaySafeCard, QIWI, Neosurf, Skrill or BitPay:

• 4.49% for users who registered later than April 08, 2020.
• 2.9% for users who registered from 18.03.2020 to 07.05.2020.
• 20% (not less than 30 USD) for users who registered before March 18, 2020.

Replenishment practically by all methods is carried out with a commission of 2.5%, if the lump sum deposited does not exceed 20 thousand dollars (and its equivalent in other c.u.). If you deposit more than that, you’ll get rid of Neteller fee (which, however, doesn’t cancel third party fees). At a conclusion on the requisites of the system the remuneration can be fixed (for example, 10 dollars for a bank transfer or 12.75 dollars for the electronic purse) or percent (0% at merchant-script, 1.45% at online transfer in payment of the goods or service, 0%-1.75% at payment by card Net + Prepaid, 3.99% at a conclusion on Skrill or a card).

Payment limits

Taking into account the method and availability of VIP status (as well as the level of the latter), the following limits are set:

• On card replenishment per transaction – $2500 for basic accounts and maximum (on the last three levels: Gold, Platinum, Diamond) to $15000 for VIP-users.
• To recharge the card per day – $7500 for basic accounts and from $7500 to unlimited (on the last three levels: Gold, Platinum, Diamond) for VIP-users.
• To recharge the card per week – $15 000 for basic accounts and from $15 000 to unlimited (on the last three levels: Gold, Platinum, Diamond) for VIP-users.
• To recharge the card per month – $30,000 for basic accounts and from $30,000 to unlimited (on the last three levels: Gold, Platinum, Diamond) for VIP-users.
• For transfers within the network – $5000 for basic accounts and from $5000 to $50 000 for VIP-users.
• To deposit via online banking for 1 transaction -$192 100 for basic accounts and from $192 100 to $288 200 (on the last three levels: Gold, Platinum, Diamond) for VIP-users.
• For replenishment through online banking for 1 transaction – $30,000 for all.
• For replenishment via online banking per day – $400,000 for all.
• On top up with QIWI, WebMoneyYandex.Money – 15 000 rubles. per 1 transaction for all, $500 per day for all, $5000 per month for all.
• On deposit from Skrill – $5000 per 1 transaction for all, $5000 per day for basic accounts and from $5000 to $100 000 (on the last three levels: Gold, Platinum, Diamond) per day for VIP-users, $5000 for basic accounts and from $50 000 to $100 000 (on the last three levels: Gold, Platinum, Diamond) per month for VIP-users.
• On deposit from Moneta.ru – $300 per 1 transaction for all, $1000 per day for all.

Unverified accounts have much lower maximums, ranging from $500 to $2,000 a one-time fee.

Restrictions on withdrawals to Neteller

For the withdrawal restrictions are not as strict as for deposits and transfers. So when you transfer money to your bank account per day allowed to withdraw up to $192 100 from a regular account and from $192 100 to $288 200 (on the last three levels: Gold, Platinum, Diamond) from the VIP account.

Bonuses from Neteller

The Neteller bonus system includes a loyalty program (accumulation of points), a referral program and VIP-status bonuses.

Loyalty Program

With each transfer from/to your Neteller account, you earn loyalty points, which are later exchanged for real money or spent on products from the company’s special catalog (featuring Neteller partners). There are no limits on the number of points you earn, but they are only valid as long as your account is active. And they are burned with its freezing (in case of absence of activity for 14 months). You can register in the program from your personal cabinet. To do this, you must have a positive balance.

VIP statuses

Connected based on your spending at Neteller partner stores. They give a number of privileges: increased limits, more favorable commissions, additional loyalty points (bonus points), the possibility of creating multi-currency accounts (without additional fee for conversion of supported currency types), etc.

Referral program

It is oriented first of all on owners of sites and persons with an extensive network of contacts. Assumes monetary rewards of up to 20% of the amount of payments of those who came and registered in Neteller using your unique link (invitation), and then began to make transactions to pay for services in stores.

Reviews of the payment system Neteller

On Russian otzavik, unfortunately, a lot of complaints about Neteller: the difficulties of communication with technical support (the site only works through a feedback form, processes applications long), widespread blocking of Russian accounts, difficult and long verification with a passport and problems with the return of funds (many simply can not pay and want to return the money from the account back to their details, but encounter problems).

But there are also positive reviews whose authors praise the system for its convenience and speed.

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Regulation and license of Paysafe Financial Services Limited

Before handing over your personal and payment data to a financial system, it makes sense to check its license. The company-owner must be listed in the register of one of the world’s regulators.

Neteller license

Paysafe Financial Services Limited, the owner of Neteller, is regulated by the FCA – Financial Conduct Authority (registration number 900015). You can check the status of your license yourself by clicking on the link below.

Check your Neteller license on the FCA website

Neteller.com User Agreement

The User Agreement (“Neteller Terms of Use”) defines the rights and obligations of the administration of the resource and the owners of the accounts created in it to each other. Let’s analyze several provisions of the document. For example, clause 4.1 states that you must be at least 18 years old to register an account. In addition, there is a list of countries whose residents are not allowed to register in the system. You create an account only if you have a personal phone address and a valid e-mail and postal address, as well as pass the verification procedure.

Using someone else’s account is prohibited (clause 4.2). You are responsible for keeping your personal data up to date and must correct it as soon as it is updated, for example, if you change your address or name (clause 4.3).

Provider has the right to cancel any transaction at its sole discretion if it deems it suspicious and may be fraudulent or in violation of service rules. If you close your account on your own initiative, you will send written notice to Neteller. The Company will return the funds from the balance to one of the accounts listed in the Withdrawal section and deduct its own fees and commissions (clause 6.7.1, clause 6.7.3). In advance, for security purposes, you will need to confirm your right of ownership of the account by verifying your identity (clause 6.7.2).

Interestingly, there is a clause in the agreement. 14.2, which forbids the user to pay or request money from individuals or legal entities offering illegal gambling, sports betting and other gambling activities. That is, it is allowed to work only with partners of Neteller.

The administration has the right at any time to ask you to confirm the information provided in the registration and past verifications. You, in turn, undertake to compensate the service provider for any losses incurred by it as a result of servicing your account and performing its obligations – legal and under the contract (clause 17.13).

Customer Service

Support for most customers on the site neteller.com is done through the feedback form and social networks. Of course, personal chat is available for VIP-users, but you have to reach a transfer volume of 10 thousand dollars in 1 year to get it. Legal appeals are sent to the physical office, and there is a FAQ to answer typical questions.

Is the Neteller payment system a scam?

Neteller – is a legally operating system, run by a company with a license from a reliable British regulator and a physical office. It has an extensive network of partners, which still speaks of reliability (the same banks enter into a contract on rather strict terms).

However, user feedback shows that many aspects of the payment service provider are not finalized. For example, support here is mostly remote, and even online chat is only available to VIP clients. And the return of payments takes a very long time and requires serious effort and good understanding on the part of the account owner. Of course, Neteller is not a scam, but in terms of customer orientation here, as it seemed to us, not everything is smooth.

Conclusion

NetellerDespite the negative reviews on the Russian sites, it is in great demand among our users. Especially among those who play gambling or economic games. The system does make fast transfers. In addition, it supports a large number of deposit methods (card, banking, wallet, phone, etc.) and offers good bonus terms. Limits here are rather high even for unconfirmed accounts. Mistakes, of course, could not be avoided. However, on the whole, this is a very good payment service.