Everything you need to know about NETELLER
NETELLER is one of the world's largest independent payment systems that provides online translation services around the world, covering almost 200 countries and working in 16 languages.
NETELLER allows you to quickly, reliably, and confidentially transfer and receive cash, as well as make money transactions in markets with no options to use traditional methods of payment.
- NETELLER geography is quite wide.
- The company has an interesting history of development.
- The security of transactions and accounts in NETELLER is guaranteed by the FCA (but it is also important to configure two-factor authentication).
- NETELLER services include various payment instruments.
- Premium statuses allow to use NETELLER on more favorable terms.
NETELLER allows you to:
The latest technologies of data protection and two-stage authentication provide your funds safety.
*Due to the restrictions imposed by MasterCard, the Net + Prepaid MasterCard cards have stopped working in countries outside the SEPA zone.
SEPA countries include: Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxemburg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Finland, France, Estonia, Bulgary, Great Britain, Hungary, Denmark, Poland, Romania, Croatia, Czech Republic, Sweden, Iceland, Leichtenstein, Monaco, Norway, Switzerland.
Why NETELLER is so good?
NETELLER is a service known to gamblers around the world, although it has only recently become really popular with online payments in stores within the Internet. The list of its services includes:
NETELLER operates in 197 countries, which is actually worldwide except:
- China (except Macau and Hong Kong),
- North Korea,
- And Southern Sudan.
There is restricted service in Belgium, Canada, France, Germany, Hong Kong, Israel, Italy, Japan, Macao, Singapore, Spain, Turkey, United Arab Emirates (UAE), United Kingdom, United States of America.
You can get access to your NETELLER wallet not only through the website but using a mobile application as well.
The service is translated into 16 languages and works with 26 currencies:
How NETELLER developed
In the UK, Netbanx Ltd is created, specializing in the processing of credit card payments. In the future, this company will be issuing plastic cards for NETELLER customers.
NETELLER PLC was founded to present a payment solution in Great Britain.
Optimal Payments moves to the offshore area on the Isle of Man. The company already conducts about 80% of the world's calculations in online gambling. 95% of the income is brought by transfers between deposits of gambling sites, for the most part, US citizens. The payment system takes the first place for all poker rooms and online casinos.
Being a joint-stock company, it conducts an IPO and enters the London Stock Exchange (with the designation "OPAY"). By that time, its capitalization equals $ 70 million.
NETELLER purchases Netbanx for £12.36 million. By that time, Netbanx independently handled credit card payments totaling £10 million. The company cooperated with the largest banks in the UK, as well as with MasterCard and Visa. NETELLER purchased it in order to provide plastic cards to its customers.
Legislative prohibition of online gambling is passed in USA. 250 thousand of NETELLER accounts are seized by the authorities. The clients of those accounts could get back their money only on July of 2007. The company couldn’t work with clients from the USA, and it was reflected in its earnings for several years (it fell from $239 million in 2006 to $ 61 million in 2010). It was difficult times for Optimal Payments.
Neovia starts accepting online payments on the territory of Russia and Ukraine. The company will arrive in Belarus in 2014.
Neovia acquires Optimal Payments, a company dedicated to supporting solutions for payment systems in North America and Europe. At that time, it independently serviced payments totaling $2.5 billion a year. The total amount of the transaction is $50 million.
A month later, the company changes its name to Optimal Payments PLC.
Optimal Payments is buying California-based Meritus Payments Solutions and American Global Merchant Advisors for $263 million.
Due to the development of these companies, it was possible to significantly improve the speed and quality of the payment system.
Optimal Payments acquires a competitive payment service Skrill for €1.1 billion and changes its name to Paysafe Group. (The text of the Skrill's preliminary public agreement on Optimal Payments PLC was published on the London Stock Exchange on March 23, 2015).
The two largest services Skrill and NETELLER combine their resources.
Currently NETELLER has representative offices in Canada, Great Britain, Hong Kong and Costa Rica. Several companies are working on the service at once. The service is licensed by the British FCA, which controls compliance with European economic security standards.
The company key figure is Joel Leonoff, president and CEO of the parent company Paysafe Group. He is engaged in management and handles all processes in the company, including major transactions.
In 2016 Paysafe Group owning all the companies that provide the NETELLER work, achieved revenue of $1 billion, that is 63% more than last year. $311 million of this revenue was brought exactly by the company's payment systems. At the same time, operating profit was $194.4 million, according to the company's annual report.
Leonoff said that it was an excellent year, and the company has great plans for the future:
NETELLER & Security
The most important thing in the online payment service operating is to protect the funds of their customers. NETELLER approaches this issue seriously.
First and foremost, Paysafe is an authorized agent of FCA for issuing electronic money (UK VAT GB 002 4257 28). FCA regulates issues related to security protocols, combating money laundering, protection against identity theft and fraud.
identity documents (for example, a passport or driver's license);
a document confirming the address (an extract from the bank, or a receipt of payment for housing and communal services),
and a photo (selfie) with the document.
For customers who have been verified, transaction limits are much higher, and commissions are minimal or completely absent.
NETELLER & 2-Step Authentification
NETELLER additional security is provided by two-step authentication, launched in conjunction with Google Authenticator. Every time you log in your NETELLER account, in addition to the password, the system will request a one-time code that is generated by a special application in your smartphone.
To connect the service and increase the security of your wallet, you should do the following actions:
- Install the Google Authenticator app on your smartphone* (the app is free).
- Log in to your NETELLER account.
- Select the "Options" item.
- Open the "Security" section.
- Click the Enable button in the 2-Step Verification section.
- Click "Start" and enter your secret code.
- Select the type of smartphone and enter the one-time code generated by the application to complete 2-step verification.
*Please note that 2-step verification does not apply to Windows smartphones.
You can top up NETELLER account in 60 ways. The most common deposit options are:
NETELLER offers two options for withdrawing funds: bank account and the NET+ card.
Please note, that when depositing or withdrawing funds from NETELLER account, a conversion fee is possible. Its amount depends on the status of the account.
Find out about all options of deposits and withdrawals on the official NETELLER website.
NETELLER premium statuses
Through premium statuses NETELLER implemented a more profitable program for using an electronic wallet for VIP customers:
Among the benefits of VIP clients, one can find:
How do I get a VIP status at NETELLER?
You can get the premium status at NETELLER:
- on common conditions,
- by connecting to our NETELLER + VipDeposits program
|VIP status conditions||With VipDeposits||On common conditions. Required transaction amount to merchants per calendar year|
|Bronze||-||$ 10 000|
|Silver||Pass account verification||$ 150 000|
|Gold||-||$ 100 000|
|Platinum||-||$ 500 000|
|Diamond||-||$ 2 000 000|
Almost all fees in the payment system depend on the status of the account. You can find more details about commissions and fees here.
|Terms of obtaining a VIP status||For common accounts||VIP Bronze||VIP Silver||For VipDeposits users||Gold Platinum Diamond|
|Deposit/Withdrawal to poker rooms, betting sites, casinos etc.||free*||free*||free*||free*||free*|
|Internal transfers at NETELLER||1,9%, max $20||1,9%, max $10||free||free||free|
|Net+ Mastercard ATM withdrawal fee||1,75%||1,75%||1,75%||1,75%||$ 6 (€ 4)|
|Exchange fee||3,99%||3,79%||3,19%||3,19%||2,79% - 1,29%|
|Net+ Mastercard** shops purchases||free||free||free||free||free|
*Deposit / withdrawal of funds in poker rooms, bookmakers, and online casinos - almost always free, with rare exceptions (i.e. bwin takes around 4,9%).
** New cards are only issued to SEPA countries: Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxemburg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Finland, France, Estonia, Bulgary, Great Britain, Hungary, Denmark, Poland, Romania, Croatia, Czech Republic, Sweden, Iceland, Leichtenstein, Monaco, Norway, Switzerland.
What you should consider while working with NETELLER?
NETELLER and Skrill are a payments system that divides the first place in the world of online gambling. It may be more convenient to make Internet purchases with ordinary bank cards or whatever you prefer, however, NETELLER is indispensable for operations with forex brokers, bookmakers, and poker rooms.
To confidently use NETELLER you should know about several of its shortcomings:
First, there is no withdrawal to the bank card, only to the bank account.
Second, if you withdraw to bank account in USD, you will have to pay double conversion as long as the processing of bank withdrawals are held in EUR.
New NETELLER users who live outside the SEPA zone can not order either a NET+ card or a virtual NET+ Virtual Prepaid MasterCard. However, existing users (who have already ordered a card at least once) can re-order it again after the expiration date.
You will be granted the highest transfer deposits and withdrawals limits of funds in just one business day. Please, find out more about our VipDeposits + NETELLER program, register or fill out the application form (if you already have a NETELLER account) and get all the advantages of working with VipDeposits.
If you have any questions, or would like to know more about VipDeposits NETELLER, please contact us.