Neteller Announces October Fee Increases

Neteller customers received a nasty little surprise in their inboxes this week as the payment services provider announced an increase to its fee structure, which will be effective in October.

The last time we saw a major change in Neteller fees was in May when they did away with the flat fee for cash withdrawals using the NET+ Prepaid MasterCard and implemented a 1.75% charge based on the total amount of your ATM withdrawal.  While the 3.39% foreign exchange fee remained unaffected, the year will not close without a spike in the charge for conducting foreign transactions, money transfers and Skrill deposits.

The instant Money Transfer service is marketed to encourage customers to send money to anyone even if they don’t have a Neteller account….yet. The truth is that the recipient must open a Neteller account in order to receive the money. If you choose to utilize this service then it is important to note that the fee for transferring money will nearly double from 1% to 1.9% with a $20 cap.

The next change will affect all transactions involving currency conversion. The foreign transaction fee will go from 3.39% to 3.99 affecting your card purchases and ATM withdrawals when traveling or even online purchases from sites that do not process payments using your local currency.

Finally, the current 1.9% fee for funding your Neteller account using Skrill will also go up with a significant jump to 3%.

All fee increases will become effective on October 17th. VIP membership will help to reduce some of these fees; however customers must meet certain spending thresholds for eligibility. VIP levels begin with a $10,000 spend per year for the lowest level of Bronze all the way up to a $2 million spend to reach Diamond membership offering a major reduction in certain fee percentages.

“the year will not close without a spike in the charge for conducting foreign transactions, money transfers and Skrill deposits”

  • Luis

    aymenpronet

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    Every year Neteller increase the fees of every thing from Bitcoin fees to withdrawal fees from ATM..This days it happened the worst.. they desactivate purchasing new plastic Neteller card (mastercard) for customers of many countries (south america, africa and asia).. What a shame !! May be it will not still my favorite e-wallet.
  • No avatar medium

    catapultaudio

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    Increasing the fees for simply transferring money to other users by almost 100% is completely unacceptable, it was obvious that the merging of Skrill and Neteller would be bad for players and I'm betting this will just be the start of a whole big rip off.
  • 1455158 712091978802419 1724984601 n

    Feelin froggy

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    AlyLauren, there are a lot of great banking methods available it just depends on where you're located and whether casinos accept them. Take a look at our banking page for more option if you like. https://latestcasinobonuses.com/banking @Dinah, so glad you're enjoying the site :)
  • 13346687 10206641722830357 248508130348341014 n

    dinah.ortiz

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    LCB is a pretty neat site. I always find the best info on bonuses here.
  • Index

    AlyLauren

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    12BET
    Live Casino India
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    This is so sad, increase up to 100% well I guess we have no choice since they are the most credible one in terms of depositing our wagers.
  • Gg

    nguyen kim hieu

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    hi....
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    I used to deposit with neteller at some of these sites then one day my deposit was being declined at casino heroes then my skrill was declined at gossip and drakes, and reading between the lines it sounded as some sites had told them where to stick there fees, not bad going for the paysafe group
  • Nirvana2

    nirvana

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    what a bunch of BS... and same is now happening to Skrill ( being now part of the same company )
  • Index

    drtheolen

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    "Think for Yourself - Question Authority" - Timothy Leary
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    This is is seriously too much...
  • Soad1

    budala

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    geeez what a bunch of greedy bastards. will have to consider using Neteller in future ...
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    stephenclax.mclachlan

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    You know am getting real pissed off with the greed of these people, infact if you really open your eyes there parasites and there seems to be a lot hanging around the casino world. Seems to be but really it is just one very large one THE PAYSAFE GROUP, These fees are bad for both players and site owners in fact in the UK I thought it was against the law to HOLD THE MONOPOLY and try to tweak it so for Big greedy profits, They already actually control and basically dictate to what casinos I can play at, I used to really love Playing at gossips and drakes also casino heroes not to mention magical vegas and more. I used to deposit with neteller at some of these sites then one day my deposit was being declined at casino heroes then my skrill was declined at gossip and drakes, and reading between the lines it sounded as some sites had told them where to stick there fees, not bad going for the paysafe group, it win win win THERE LIKE A MAD CASH JUNKIES think about it you by a paysafe voucher, but most places will only let you withdraw by bank transfare if you do that, ?????????? Whats that about I THOUGHT THE WHOLE POINT IN USING THESES METHODS WAS SO YOU NEVER HAD TO USE OR REVEAL YOUR BANK DETAILS ON LINE, so you deposit the paysafe voucher to your neteller account and thats £7,70 of each hundred then you get charged again to withdraw cash from atm, and the also charge the site owners,,, GREEDY PARASITES so PAYSAFE GROUP DO YOU NOT THINK I SHOULD BE ABLE TO SPEND MY MONEY IN ANY CASINO OF MY CHOICE and by the way am also not allowed to deposit at magical vegas with neteller or paysafe ,,,,,, MABEY ALDOF HITLER IS NOT DEAD he just trying to control the whole words online cash and where it can be spent, one xmas a tryed to by a rail ticket to spend christmas with my daughter from virgin tranis, VIRGIN A BIG INTERNATIONAL COMPANY, but netteller would not allow it nor would they let me withdraw my £1000 winnings from atm for 1 callander month wait for it because a had made a £10 deposit with ukash and paid them a fee for the privilage, think the financal omnibus man should have a sniff around the PARASITE SAFE GROUP

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