ONLINE casinos often absorb deposit fees when a customer uses Neteller.
In fact – there are a number of operators paying bonuses to clients using Neteller. Withdrawals should always be free too, although some operators only offer one free payout per month using the e-wallet.
The gambling websites listed on this page all offer free Neteller deposits and payouts.
Just because deposits and withdrawals are free, doesn’t mean there are no fees. There are a number of fees you should be aware of when using Neteller and I’m going to explain those now.
Deposit fees at Neteller
I love how transparent Neteller are – they list the complete list of fees on their website.
When it comes time to fund your account, it can end up being free or costing you up to 20%. That’s a huge range, which is why it’s so important to do a little research and find out which methods have no charge.
You can fund your account with no fees using DineroMail (0%-5%), EUteller, fast bank transfer, GiroPay (0%-1.5%), local bank deposit, international bank transfer, Moneta, Trustly and Sofort Uberweisung (0%-1.5%).
Some of the methods above may have a fee depending upon where you reside.
MasterCard, Visa, Maestro, Visa Electron, Visa Debit and MasterCard Debit all have a 1.9%-4.95% fee when used to fund your Neteller account. They remain popular funding options, but the free methods are better.
The entire list of local deposit options and fees are available at Neteller.com if you’re interested.
Withdrawal fees at Neteller
Sending money to a merchant or another Neteller account is free.
However, withdrawing money from your account to your bank will entail paying a fee. A bank transfer costs €7.50 inside of the EU ($12.75 Outside of Europe), while a cheque costs €7.50 ($10 or £5).
A bank wire has a €10.50 fee or the equivalent in another currency. The best option is to use the Net+ Prepaid MasterCard for withdrawals, as the fee is only €4 ($6 or £3) maximum and can be free too.
The charges are inexpensive, but only if you’re transactions aren’t too small. Neteller is a secure e-wallet and keeping money on the account is safe, plus with a Net+ MasterCard the money can be accessed 24/7.
Fees for using the Net+ Prepaid MasterCard
If you decide to use the Net+ Prepaid MasterCard there are going to be some fees involved.
You have to pay for the MasterCard to be shipped to your address (£8, €10 or $13). If you withdraw cash at an ATM the fee is €4, £3 or $6 every transaction, although it’s point of sale (POS) transactions are free.
This means you can use the MasterCard at shops, restaurants or online to pay for anything you’d like.
The Net+ card is available in eight currencies, including the US dollar (USD), British pound (GBP), euro (EUR), Japan yen (JPY), Australian dollar (AUD), Denmark krone (DKK, Canadian dollar (CAD) or Swedish krona (SEK).
Make sure your card uses your local currency or else you’ll incur a 2.95% foreign exchange fee.
If you qualify for the VIP program ($50,000+ in annual transfers) the fees are lower.
Foreign exchange costs
Any transaction using Neteller involving a currency conversion will be charged a fee. 2.95% is added to the average daily interbank rate. The fee protects the company from losses due to exchange rate fluctuations.
The cost can be lowered to 1.25% minimum based on your standing in the VIP program.
Try to avoid any transactions involving a currency conversion, which is simple for most. For example, Aussies can open an account in Australian dollars and play only with casinos accepting AUD.
There is also an administrative charge if your account is dormant for 14 months. After 13 months of no activity, you’ll be contacted by email. If you don’t reply, your account will be charged a fee the following month.
The fee is only charged if you have a positive balance in your wallet.
Neteller charges several other fees for additional services, such as gift cards or Net+ virtual cards, but none of these added features are necessary to deposit and withdraw money at an Internet casino.
So, how expensive is it to use this online payment service?
It can actually be real cheap. Funding the account is free using the methods described in the article. The only thing you’ll pay for are withdrawals, which can be as cheap $6 when using the Net+ MasterCard.
You could actually never pay a fee if you used your money to make purchases, such as groceries. There’s no fee on POS transactions. However, if you want cash, there’s going to be a small cost.
Make sure the online casino you play with offers no fees on deposits and payouts, which is common among the reputable brands. Neteller is truly a gambling-friendly e-wallet and they offer VIP perks unlike competitors.