Neteller is a digital wallet that you can use to make online purchases, payments, money transfers, buy and sell cryptocurrencies. The wallet comes with Neteller virtual and physical card. It works almost the same as a bank account. Neteller charges zero fees on international money transfers when you send money to a bank account or receiving money.
How Does Neteller Work?
You first need to complete Neteller sign up process. You need to provide your personal details, including your country of residence and the currency you would like to open your wallet in. There are 28 different currencies including EUR, USD, AUD, GBP, CAD, INR, etc. You can’t change your currency once you have selected unless you create a new account.
Before finishing Neteller sign up process, you need to confirm a pin code for security, which will be sent via SMS and email using the details provided during the registration. The next step is to verify your identity by uploading your photo, get a selfie or scan of your ID. In normal cases, your account will be verified in less than 24 hours.
Once you have been approved, you can go ahead and order your Net+ prepaid Mastercard or create a Net+ virtual prepaid Mastercard from your Neteller account. You must also set a lifetime limit. This is the maximum amount you can spend on online shopping. You can also start making international money transfers with Neteller. You are able to send money to a bank account or mobile money wallet.
Neteller prepaid card comes in two forms, Neteller Net+ Mastercard and Net+ virtual MasterCard. Both Neteller Net+ cards are available in USD, EUR and GBP. Neteller card is available in the EEA, UK, and Brazil. The following are some of the ways you can use your Neteller prepaid MasterCard and Neteller virtual MasterCard.
- Convenient spending: Spend the money you have in your Neteller account anywhere MasterCard is accepted, which includes withdrawing cash from ATMs around the world.
- Make online payments: You can pay for goods and services online using Neteller virtual card. You will be using the money you have uploaded to your account. You can make payments to merchants who accept your MasterCard.
- Make fast payments: Virtual cards make faster payments, and you do not have to wait for several business days to complete a transaction.
Neteller makes it easy to buy, sell, and store cryptocurrencies. You can buy cryptocurrencies from more than 100 payment methods and 28 currencies, without the need for any additional verification. You can also set up recurring orders to buy cryptocurrencies automatically every month.
Once you have bought cryptocurrencies, you can send them to other Neteller members using their email address or mobile phone number. You can also keep your cryptocurrencies in your Neteller wallet and earn interest.
Neteller also allows you to exchange your fiat balance for cryptocurrency. This means that you can use your local currency to buy cryptocurrencies, without having to go through a third-party exchange.
When you buy or sell crypto using your Neteller crypto wallet, the transactions count towards the threshold to become Neteller VIP.
How to Add Money to Neteller and How to Withdraw Money from Neteller
How to Add Money to Neteller Account
To be able to make transactions with Neteller, you need to have money in your Neteller wallet. Therefore, you need to add funds to Neteller wallet. You can do so via a bank, credit card, debit card, POLi, BPAY, iDEAL, cryptocurrency, etc. The methods of adding funds to Neteller vary by country.
You can only add funds from a personal bank account in your name. Transfers from other names or business names will be returned. You are also only allowed to add 5 cards from 5 different banks.
How to Withdraw from Neteller
Neteller offers multiple withdrawal options. To withdraw funds, first, select your preferred method from the available options, which include bank transfers, mobile money, Visa/Mastercard withdrawals, cryptocurrency transfers, and direct spending through partnered merchants. You can also withdraw money from Neteller to your Skrill account or another Neteller account. Each method has varying fees, processing times and accommodate different preferences and needs. For example, with Neteller account in Kenya, you can withdraw funds from Neteller to M-Pesa, which is a popular mobile money service.
Neteller Crypto Withdraw to a Crypto Wallet
You can also withdraw USDC, USDT, ETH, and BTC to an external crypto wallet address. To do so, all you need to do is:
- Download and open the Neteller app
- Click ‘Transfer’ then ‘Send to yourself’ and then ‘Crypto wallet’
- Enter the amount you want to withdraw
- Enter a crypto wallet address to send to and then confirm
You can convert your crypto back to fiat currency of your choice, such as euros and dollars. It is also possible to withdraw cash straight to a cryptocurrency address.
Neteller Crypto Withdrawal to a Bank Account
With Neteller, it is also possible to withdraw crypto to a bank account:
- Open Neteller wallet
- Select your crypto portfolio
- Select the crypto you wish to convert
- Click “Sell” and select a fiat currency
- Choose ‘Withdraw’ to send money to your bank account
Neteller Card Fees
The first Neteller virtual card is absolutely free. You do not have also to pay an activation fee or shipping fee since it is not a physical card. However, you can add up to 5 more Net+ virtual prepaid MasterCard. Any additional Neteller virtual card costs 3 EUR.
|First Neteller virtual card (no activation or shipping fee)
|Additional Neteller virtual card (up to 5)
|3 EUR each
|Application for your physical card
|ATM withdrawal fee
|Making payments in a different currency
|Neteller deposit fees (regardless of deposit method)
|Neteller withdrawal fees (varies by method)
|0 – 7.5 %
|Neteller money transfer fee (for sending money)
|Neteller Standard Account
|To other NETELLER users
Neteller Crypto Fees
|Gold / Diamond / Exclusive VIP
|Fee: 0.50% per transaction
Neteller limits depends on account type, transaction type, currency and region. For example, Neteller virtual prepaid cards have limits that vary depending on whether the card has been verified or not. If your virtual card has not yet been verified, you can only spend a maximum lifetime amount of 520 GBP, 800 USD and 720 EUR. To know limits that apply to your account, log into your account to find out your limits.
Neteller Supported Currencies
The following are some of the currencies that are supported by Neteller; AED, AUD, BGN, BRL, CAD, CHF, CNY, COP, DKK, EUR, GBP, HUF, INR, JPY, MAD, MXN, MYR, NGN, NOK, PLN, RON, RUB, SEK, SGD, TND, TWD, USD, and ZAR.
Neteller Supported Countries
Neteller available countries are over 100, including Australia, India, Nigeria, UK, Kenya, Hong Kong, South Africa, Singapore, Ghana, etc. It’s important to note that Neteller is not available in the US. Below are all supported countries.
|Ireland (Rep. Of)
|Isle of Man
|Bosnia and Herzegovina
|British Virgin Islands
|United Arab Emirates
Is Neteller Safe?
Neteller is a legitimate company that has been around since 1999. It is authorised by the Financial Conduct Authority in the UK. Neteller holds customers’ funds in a trust account to meet FCA requirements. Moreover, Neteller uses SSL encryption and two-step authentication to protect customers’ data. If you are a Neteller VIP member, you will enjoy a 100 percent fraud guarantee.
Neteller cryptocurrency service is not regulated by the Financial Conduct Authority. Neteller is not a cryptocurrency exchange, it offers crypto services in partnership with crypto exchanges.
There are other virtual cards that may be more beneficial to you based on your specific needs. Neteller alternatives include the following:
Is there a Neteller virtual credit card?
No, your Neteller virtual card is not a credit card or a debit card because you can only spend the funds (prepaid) that you have deposited in your account.
Does Neteller work in USA?
Unfortunately, Neteller is not available in the US. The company left the US market in 2019 due to regulatory issues.
Is Neteller available in Kenya?
Yes, Neteller is available in Kenya.
Can I use Neteller card South Africa?
Yes, you can use a Neteller card to make online purchases, withdraw cash from ATMs, and make payments in stores.