There are many different payment methods that you can use online. And as we all know, making monetary transfers online has become somewhat of a necessity. From time to time we need to make and process payments online. We could do this for shopping or for making other forms of payments. And at certain times, we also need to accept various payments from people from the far sides of the world. In order to do all this, we will need a payment platform that we could use.
That being said, there are several different payment platforms that you can use for this purpose. If you want to keep things simple, then you can use credit and debit cards. If you wish to go a step further and make things simpler and safer, you can use payment platforms. That being said, one of the leading names in online payment processing is Neteller. But why is this the case? What makes this platform so popular? Be sure to read the rest of this review in order to find out.
you can also make use of the VIP loyalty feature
History of Neteller
The first thing to know about Neteller is that it originally started in 1999 in the country of Canada. The official listing for this company is “Authorized Electronic Money Institution”. In 2004, the seat of the company was transferred to the Isle of Man. The Paysafe Group made a purchase of Skrill back in 2015.
What you need to know is that Neteller is not conceived as a bank. This means that it’s not able to lend money to people. Also, various regulations state that Neteller should have funds to repay all its customers at all times.
One of the biggest sources of revenues for Neteller was gambling. It started processing gambling money transfers back in 2001, mostly for US customers. However, this company was at one point forced out of the US market and the funds were frozen. The funds became available to their respective owners in 2007.
Because of the fact that the company was forced out of the US gambling money transfers, it sought to diversify. Even though the owners tried their best, the profits and revenues fell sharply. At the peak of the revenues, the company made nearly 240 million dollars in 2006. These revenues fell to around 61 million in 2010.
As a customer of Neteller, you have the opportunity to get access to some special features. You can get this access if you have a high turnover rate. And these special features correspond for the most part to those that you can find at Skrill. Among them, you can get multiple currency accounts, security tokens, and loyalty points. And the best prize that you can get for your loyalty to Neteller is the comparatively smaller fees.
There are five different levels to the VIP program at Neteller. These five tiers are bronze, silver, gold, platinum, and diamond. If you manage to reach the conditions for accessing these VIP tiers, then you will instantly be rewarded. If you want to learn more about the particular benefits of getting there, then you can do so at the website. There you find all the information you may need on the subject of the VIP program for loyalty.
Net+ Prepaid MasterCard
One of the things that you can get by using Neteller is the special Net+ Prepaid MasterCard. This card works as a traditional credit or debit card. The balance of the card will be connected to the balance at your Neteller account. And the best thing about it is that there is no way in which you can get into debt. As mentioned in one of the previous paragraphs, Neteller isn’t a bank. It can’t lend you money.
So, you will be able to spend only as much as you’re prepared to pay at the moment. There are various ways in which you can fund this prepaid MasterCard. And moreover, you will be able to withdraw your money at any ATM in the world that supports Neteller.
However, you need to be aware that there are certain countries where you can’t really use Neteller. These countries are mentioned in a list on the website. If you’re uncertain if you’re living in one such country, we suggest that you check the list out. But the fact of the matter is that Neteller serves customers that reside in well over 200 countries in the world. So, in most cases, you shouldn’t have any issues with any potential geo-restrictions.
Fees for using Neteller
Depending on the way you will deposit and withdraw your Neteller funds, you will need to pay different fees. And the fees for funding the account can be as low as 2%. But they can also be as high as nearly 6%. You really need to investigate whether it will be worth your money to deposit and withdraw money with Neteller.
Also, there are no annual fees that you will need to pay for using this platform. Since the card works as a prepaid card, it means that you won’t pay fees for being late with payments. That being said, Neteller is one of the cheapest payment methods that you can use for making online transactions. And this is one of the best things about it.
When it comes to different online payment methods and e-wallets, Neteller is one of the best. It’s a leading name in the field and for good reason. You can use this platform while paying relatively small fees upon transactions. And it’s incredibly easy to begin using this platform. You will be able to learn how to use it in a matter of minutes. That being said, you can also make use of the VIP loyalty feature if you have a high turnover.
All of these elements combine to make Neteller one of the leading names in the field of online payments. There are millions of people that use Neteller in over 200 countries in the world. We hope that you will be satisfied with its use as well.