How Does Neteller Work

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When you open a Neteller account, it acts as a type of e-wallet that allows you to upload, transfer, and withdraw funds. Clients can transfer funds to and from any merchant website instantly as long as the website uses Neteller’s online payments platform. If you would like to transfer money to another NETELLER account holder, you can do so for free by using the Money Transfer withdrawal option. Click the green “ Transfer money” button to move on to the confirmation screen. ※ Note that you can also send money to an email address that is not a registered NETELLER email address.

Bronze VIP Pro
Great VIP rewards

Instant VIP boost
Fast track verification
24/7 support

Terms and Conditions Apply

Follow this step by step guide bellow on how to transfer money from Neteller to bank account.

How Does Neteller Work In South Africa

  1. Log into your Neteller account (if you don’t have one already click here for instant upgrade to Bronze VIP pro)
  2. Go to the ‘Money Out’ section in your account
  3. Click on ‘Bank withdrawal’ and then ‘Add a bank account’.
  4. Enter your bank account details. If you are not sure about your banking details, contact your bank and they will be able to provide this information for you.
  5. Click ‘Continue’, confirm your account details and click on ‘Confirm’.

Once the bank details are confirmed, a micro deposit will be sent to your account from Neteller. The micro deposit is normally, received within 2 to 5 business days. In order to see the micro deposit, you need to check your bank statement or online bank account. Once the micro deposit is received, please make a note of the amount of the transaction. You will then need to sign into your NETELLER account click on ‘money out’ and enter the micro deposit number in the relevant field.

If you are having any issues on how to transfer money from Neteller to bank account, you can consult Netellers support here.

How does neteller work

Which countries can make a bank transfer withdrawal?

At this current time Neteller provides a bank transfer option as a withdrawl method for SEPA countries and Andora. You can find a list of these to the right

SEPA is a payment-integration project of the EU. Consisting of the 28 European Union countries and 3 European Economic Area countries. For more information about SEPA click here.

How Does Neteller Work

CroatiaIrelandSan Marino
Czech RepublicLatviaSlovenia
FranceMonacoUnited Kingdom

How Does Neteller Work

What are the fees for withdrawing from Neteller to bank?

The fee taken for withdrawal from Neteller to bank is 10 USD, or the equivalent amount in the accounts currently. This fee is the same regardless of what VIP level that the account has reached through the Neteller VIP program. This is one of few fees that stay the same for all account holders, as VIP customers usually get discounts for the fees that are charged for various transactions.

The funds that are withdrawn from Neteller to bank are sent in the currency of your registered bank account, as long as the bank account is in USD. If the Neteller account and bank account are in different currencies, there is a 3.99% foreign exchange fee applied to the transaction. This fee is taken out to protect Neteller against exchange rate fluctuations.

Can I avoid Neteller fees?

You can’t avoid them, but you certainly can pay less of them! Make sure you get your VIP statuses set up, and you’re ready to go.

Does Bronze VIP Pro have any fees?

Yes it does, but the fees are already way lower than it would be without any Neteller VIP levels. Going up through the ladder, the fees are going to get significantly lower, some of them are even removed completely!

Do I have to pay Neteller fees when transferring money to merchants?

No. Deposits to merchants are completely free by Neteller’s end.

If I use Neteller without VIP levels, why is there min. 30 USD commission for the first P2P transfer?

This is mainly because Neteller wants to minimize the risks of bot accounts and money laundering. Please not that it’s only your first transfer that’s going to cost a bit more. After that, P2P transfers are fairly cheap.

Last Updated on September 28, 2020