Last Updated on May 21, 2021 by Filip Poutintsev
Table of Contents
Introduction
Neteller is an e-money platform which enables its user to perform transactions across multiple platforms. One can create their accounts online, deposit funds, and start making transactions. It is available in over 20 languages making it convenient for many users across the globe to use Neteller services in their native languages. Also, it is accessible in most countries, except a few countries over legal issues. With Neteller, you can deposit and transact with over 20 major currency meaning that you don’t have to change your money to a mostly used currency like USD or GBP to start transacting.
Security
With elite hackers rising each second, Neteller provides you with the security you need to make sure your hard-earned money stays yours. With security features such as 2 step verification process to access your account, no one other than the owner can access the account. The first step of the verification process is the password of the account holder. Next is the Neteller authentication code which is sent to the account holder’s contact detail. The authentication code has to be typed in within 30 seconds otherwise the window will close and a new code will be required. All this is done to safeguard your account.
Finally for every transaction made a virtual card is generated. The virtual cards will have different numbers for every transaction to ensure that even if someone takes a sneak, the number will be useless once a transaction has been completed. The number is only usable on one transaction, this is to ensure that even if an unauthorized person gets hold of that number it won’t be usable. Even the owner of the account you won’t be able to use the same number twice, a new one will have to be generated for you to make a transaction.
Available on multiple platforms
Neteller is easily accessible on multiple platforms. First, you can access the services of Neteller on the interactive website where you can create your account with no hustles, transfer money from or to other multiple e-money transfer services, and make transactions. Secondly, it is available on Google Playstore for Android users. Lastly, it is also available on Apple Store for iPhone users. Download these great apps and start transacting with your mobile phone anytime, anywhere, making it more convenient for you despite the type of smartphone you own. The apps also have all the capabilities to do everything on the website.
Fast transactions
For instantaneous transactions, Neteller services provide its user with that convenience. With Neteller, online purchases on Amazon and many other online stores are easy, fast, and secure. In a situation where your MasterCard or debit card can’t process a transaction, Neteller is the answer for those particular situations. It provides another alternative payment method to make your transaction a success. Transact to your family members across the globe with Neteller. The more transactions you perform the more points you earn, which can be exchanged for fantastic gifts. The best e-money platform that rewards you for your transactions.
In a situation whereby payment is required in other currency other than the one you have, Neteller provides currency exchange services for a minimal fee, so that you can proceed with your transactions with ease. Finally, Neteller users can transfer funds to people who don’t have Neteller and upon signing in on Neteller, their money will be debited into their newly opened accounts.
Net+ MasterCard and VIP Membership
Neteller introduced the Net+ MasterCard that you can buy with and withdraw money from ATMs making it even more helpful when in need of cash. Besides using the Net+ MasterCard to withdraw funds one can transfer the money to their banks for withdrawal too.
With Neteller, you can upgrade your account to VIP membership. The VIP status has improved additives that include reduced transfer fees and increased maximum limit per transaction. Depending on which VIP status one is on, they are offered another currency account for free. The VIP program is suited best for those who perform multiple transactions and also those who transact large sums of money.
Online gambling, Forex trading, and Betting
Those who are into online gambling and forex trading know how frustrating it is to wait for a transaction to be processed so that they can play their favorite games or place their most anticipating trade. All this frustration can be easily solved with Neteller as it is available on those platforms for fast transactions into your accounts. One can also do cross transactions with Neteller to other e-money service providers with no hustle. Also for bettors, Neteller is available on many of the betting sites making it more convenient for you. If you do all three then there is no need to have multiple accounts with different e-money transfer service providers as Neteller can simultaneously cover all that for you.
Issues
Surprisingly despite its popular use among people who do their transactions online, Neteller has a very poor review on Trustpilot, categorizing it as a poor service provider. Some users have had the experience of being unable to pay online although their accounts were funded. Also, there are numerous complaints on very high transaction fees reaching even 40% to do withdrawals. Also, there are numerous issues of accounts getting closed without prior notification and for no particular reason, inquiry into the matter has been done by many and unfortunately without reply. Others have been asked for particular documents which they sent to get their accounts verified but they are still waiting for the good news concerning the activation of their accounts. Those who got responses were to notify them of some of the documents which were rejected without verification.
Conclusion
Neteller provides its user with surprisingly awesome features which make the online transaction smooth whilst at the same time offering you the security one needs from fraudsters who will not hesitate to wipe your account clean. Despite its history of being once a great service provider, the reoccurrence of the same problems being experienced by users will outweigh all the new features and services being offered, if the problems are not attended to much sooner.
