Neteller withdrawal fee

[spearmaster]

Neteller have a "Merchant" option which costs $1,000 to set up and has it's own fee schedule. For players, there is generally no charge for withdrawals and depositing, however they do apply their own currency exchange rates if you are using a currency different to that of your Neteller account and in my experience, that is quite expensive for players.

Correct.

BTW, the fee they charge merchants is 8.9% for Instacash - the casino absorbs this fee and so far I have not seen this passed on to the player. The only way casinos can avoid paying additional charges is to reverse previous charges (ie. if you deposited $50 twice, then won $100 and cashed out, they would reverse two $50 charges).

I can't remember the fees for normal merchant transactions, but my instinct says it was 3.9% - or else it was 8.9% - will have to go through my emails to uncover this. These charges are the same whether you are a gambling operation or not - which explains why there are few to no non-gambling merchants in the first place...

Another thing to note - besides losing about 2% on the currency exchange - BOTH ways, you pay fees to move money into your debit card - and then when you withdraw, you are paying a hefty charge for the withdrawal - my last transaction cost me in the region of $22... and when most ATMs only allow you to withdraw $500 per transaction, you're looking at a whopping 4.5-5% loss on the withdrawal alone.

As far as I'm concerned, I expect that I will get 10% less if I use the Neteller debit card. So now I avoid it unless absolutely necessary.

[cheekymonkey]

I have always used debit cards to play online, however I have just applied for a Neteller ATM card.

Is it true that once I cashout from a casino and it arrives into my Neteller account, that I will be able to cash out instantly at any ATM machine - or is there a clearing/waiting period with Neteller?

I understand that they will charge me £2.95 for every withdrawal and about $3 a month for dormant accounts.

[wangpoker]

This is buried deep, but should not be a problem once you know about it. They have at least given you the option to "improvement!"

absolutely true.
I never recommend this group to my friends.

[GrandMaster]

BTW, the fee they charge merchants is 8.9% for Instacash - the casino absorbs this fee and so far I have not seen this passed on to the player.

Pokerroom did not absorb the charges when I last played there years ago. There was another casino, Casino-on-Net I think, which credited the charges as a bonus with WR.

[RobWin]

Play at Bodog and you will not have to put up with this kind of BS. I have been playing over there for about two years now and do multiple withdrawals each week and have never had a charge for anything.

I cashed out the other day and received my funds back into my Neteller account within TWO MINUTES.....Unbeliveable !!

BODOG..............