Neteller

[The Cryptkeeper]

Does anybody use Neteller as a cashout option for their poker winnings?

I would be interested to hear any feedback in terms of fees and ease of use. It is starting to appeal as an option for me as my preferred poker site (Partypoker) is making it increasingly difficult for Australian players to cash out.

How is the Neteller card used?

What fees do they charge?

Can the card be used the same as any EFTPOS card?

Any information and help appreciated.

 

[dmc333]

Does anybody use Neteller as a cashout option for their poker winnings?

I would be interested to hear any feedback in terms of fees and ease of use. It is starting to appeal as an option for me as my preferred poker site (Partypoker) is making it increasingly difficult for Australian players to cash out.

How is the Neteller card used?

What fees do they charge?

Can the card be used the same as any EFTPOS card?

Any information and help appreciated.

Ain't played there for a while, but couldn't you cash straight to your bank account? Or was that just for deposit.

 

[paxmaniac]

I use neteller all the time, and I don't know how I would manage without it.

I have heard others complain about the fees, but I haven't had any issues. It costs 2% to deposit from CC. Transfers to and from poker rooms are free as long as you don't need to change currency.

Withdrawals to the real world I handle via the prepaid card. It took forever to arrive (like 6 weeks), but it's great. It works like a Mastercard, and purchases cost just the 2% currency conversion fee. The exchange rates are standard Mastercard and are pretty good. ATM cash withdrawals cost USD$4, which is a bit steep, so I prefer to buy goods with it. It also costs $1 to load the card I think. There is supposed to be a $10 card setup fee, but that is usually waived. You can also request a cheque, which I think costs $10.

There is a refer-a-friend deal where you get $10 and the referrer gets $20 on a $100 deposit, so make sure you get a referral. Better yet PM me, and I'll send you one

 

[MinerBoy]

Just started using it after finding that depositing to and from my credit cards was becoming a royal pain.

Have transferred funds to/from neteller to poker sites easily, quickly and free of charge. Still awaiting my card and as yet have yet to make a withdrawal/purchase from my neteller funds.

 

[Bibra]

I just withdraw direct to my bank account. I jump on live chat, tell them how much I want to withdraw and it's in my bank account a few days later. Not sure if you have to be VIP for this service though (It's not hard to achieve).

 

[paxmaniac]

I just withdraw direct to my bank account. I jump on live chat, tell them how much I want to withdraw and it's in my bank account a few days later. Not sure if you have to be VIP for this service though (It's not hard to achieve).

What's the fee for this? I have noticed that since I got a prepaid card, the direct bank withdrawal options don't seem to be available to me (not that I need them).

 

[TheTrav]

Moneybookers>>>>>>Neteller

 

[paxmaniac]

Moneybookers>>>>>>Neteller

why?

 

[dmc333]

Handy for a transfer system between sites, but don't most major sites deposit straight to your bank account anyway?

 

[paxmaniac]

Handy for a transfer system between sites, but don't most major sites deposit straight to your bank account anyway?

The problem for this in Australia, is that you pay currency fees every time you deposit from an Australian bank, and every time you withdraw back to an Australian bank. And the processing time is usually significant. The eWallets allow you to move funds from one poker room to another with little delay (sometimes as little as 24hrs), and with no fees.

Some sites require multiple sets of ID to process bank withdrawals (see the Hansa thread). Do you really want a dozen poker sites to have access to your bank account and ID details?

 

[TheTrav]

why?

I have used both, moneybookers for me is quicker at not only getting the money from the poker site, but it's quick to go into my bank account. I don't know if it would be different for everyone but I just think Moneybookers is better than Neteller.

 

[Bibra]

Pax, I just made a withdrawal. (Good time to have money in US Dollars). The fee is U$12.75. They charge a couple of percent for the currency exchange then deposit into your account in your preferred currency.

 

[paxmaniac]

Pax, I just made a withdrawal. (Good time to have money in US Dollars). The fee is U$12.75. They charge a couple of percent for the currency exchange then deposit into your account in your preferred currency.

$12.75 includes the currency conversion fee? If so, how much was the withdrawal for?

By the way, Neteller have just changed their prepaid card (again). The new card is much worse - 3% conversion fee, US$6 cash withdrawals and a host of other fees including a "dormancy" of $3 if you don't use it in a particular month. It's very, very poor. Fortunately, I have the old card at least for another year.

 

[Bibra]

No, it's something like 1.75% on top of the fee.

 

[The Cryptkeeper]

$12.75 includes the currency conversion fee? If so, how much was the withdrawal for?

By the way, Neteller have just changed their prepaid card (again). The new card is much worse - 3% conversion fee, US$6 cash withdrawals and a host of other fees including a "dormancy" of $3 if you don't use it in a particular month. It's very, very poor. Fortunately, I have the old card at least for another year.

Pax

Do I pay a fee though if I just use the card as a Mastercard Debit....ie, if I just use it to pay for goods and services without making cash withdrawls?

The Neteller site is very ambiguous.

 

[paxmaniac]

Pax

Do I pay a fee though if I just use the card as a Mastercard Debit....ie, if I just use it to pay for goods and services without making cash withdrawls?

The Neteller site is very ambiguous.

For purchases, you only pay the currency conversion fee (1.9% on the old card, 3% on the new). I generally don't do cash withdrawals for this reason. Incidentally, my ANZ Visa card this week announced a currency conversion fee increase from 2.5% to 3%, so maybe this is an industry wide trend.

 

[mdc]

If you want to get around neteller's fees on withdrawals, just do the following:

- Make a small deposit onto Stars if you don't already have a Stars account.
- Transfer the money from Poker Site A into your neteller account.
- Transfer the money from neteller to Stars.
- Cash out directly onto your Visa card using Stars (or, I guess, use Gary Benson)

Either way, all you're paying is the currency conversion penalty.

 

[paxmaniac]

If you want to get around neteller's fees on withdrawals, just do the following:

- Make a small deposit onto Stars if you don't already have a Stars account.
- Transfer the money from Poker Site A into your neteller account.
- Transfer the money from neteller to Stars.
- Cash out directly onto your Visa card using Stars (or, I guess, use Gary Benson)

Either way, all you're paying is the currency conversion penalty.

Don't they have anti-laundering rules? Most sites require you to cash out to the same deposit method - i.e if you deposit $300 from Neteller, you must first withdraw $300 to Neteller before you can withdraw to any other account.

 

[mdc]

Don't they have anti-laundering rules? Most sites require you to cash out to the same deposit method - i.e if you deposit $300 from Neteller, you must first withdraw $300 to Neteller before you can withdraw to any other account.

Ah, that's possible. I've cashed out enough from Neteller itself for it not to be a problem I guess.

I'll ask around.

 

[passionate81]

Don't they have anti-laundering rules? Most sites require you to cash out to the same deposit method - i.e if you deposit $300 from Neteller, you must first withdraw $300 to Neteller before you can withdraw to any other account.

Yes that is true.

I had this problem not long ago. I have 2 Debit cards linked through the same account and one of them was lost so i had to cancel it. Unfortunately the one which was lost was the one i had been using to deposit funds. Since the card was cancelled i couldnt withdraw to it and it took me a few days of speaking to the online help to convince them to put it into my neteller account. Finally they agreed, then about 30 min later they changed their mind and made me withdraw it to my other card.

 

[Chief]

I'm all set up now, just waiting for my card. Was pretty easy.