Neteller jack up their fees!

conker

Dormant account
Joined
Feb 10, 2012
Location
UK
A nice Christmas present from Neteller received in an email this morning!

We hope you are enjoying your NETELLER services.

We have recently reviewed our fee structure and we are getting in touch to let you know about some planned future changes which will come into effect on 25 January 2016.

These fee changes form part of our ongoing commitment to improving your experience with NETELLER and we hope you continue to enjoy using our services in the future.

Fees*

Free to pay in shops, restaurants, or online
2.95% (1) foreign exchange fee - this has gone up, I don't know by how much
8.00 GBP shipping and handling fee - up 37.5%
3.00 GBP cash withdrawal fee - same
8.00 GBP to replace a lost card - I don't know how much it was before

I personally am quite disappointed that they have pushed up shipping and handling fee (which is just another way of saying transfer to your bank) by 37.5%. I felt the £5 charge before was excessive, but at £8 it looks like blatent profiteering from their dominant market position.

No doubt an email from Skrill about their fee changes can't be far behind this one.
 

jjezebel37

Dormant account
Joined
Nov 20, 2011
Location
Belfast (Northern Ireland)
Got this email as well. However, I don't use Neteller so it won't effect me.

I do use Skrill though and I did get an email yesterday to inform me that there are upcoming price changes that are to follow.
 

hedgehok

Meister Member
mm3
Joined
Jul 30, 2014
Location
Germany
Of course, Skrill is doing basically the same. It's quite apparent that fees are synchronized between Neteller and Skrill.
They even share the same promotions now.

Changes to Skrill fee structure

Dear xxx,
We hope you are enjoying your Skrill services. We have recently reviewed our fee structure and we are getting in touch to let you know about some planned future changes which will come into effect on 25 January 2016.

To view the changes, please visit our fees page for full details.

Visit our
You do not have permission to view link Log in or register now.
now

These fee changes form part of our ongoing commitment to improving your experience with Skrill and we hope you continue to enjoy using our services in the future.

Thank you for using Skrill.

Regards

The Skrill Team
 

esc0bar

Newbie member
Joined
Aug 18, 2013
Location
RU
In my opinion these changes aren't that dramatic. Okay, the fees for getting a new Net+ Card and the shipping costs went up a bit (as far as I see it went up by max. 2 GBP), but the substantial fees for using Neteller are remaining the same. Cash withdrawal fee is the same and as far as I remember the FX fee is the same as well (I'm pretty sure it was 2.95% before as well). As somebody being Gold VIP (transferring around 150'000 USD a year to merchants), I don't really care if I have to pay 10 or 12 Euro every three years to get a new Net+ Card.

edit: Especially due to the fact that the Net+ Card fee and shipping costs are waived as soon as you become a Silver VIP.
 

philderby1

Senior Member
Joined
Oct 8, 2012
Location
derby
this is just another reason for me to leave my neteller account alone and use my debit card for deposits. no fees and providing you are playing at a fast paying casino then should only take a couple of day to receive any winnings
 

Harry_BKK

Dormant account
Joined
Dec 18, 2014
Location
Balcony
Sorry to say this guys & girls but i think we gamblers are sometimes quite pathetic. :eek: :rolleyes: We don't hesitate to throw hundreds or thousands at a casino but complain about a few bucks in increased fees. :rolleyes:

Neteller, Skrill etc. are a very handy convenience service in the online gaming world allowing us to get withdrawals in minutes and our cash at ATM's all around the world. Surely we cannot expect this to be a free service.

On the other side i do think Neteller is charging quite a bit more than Ecopayz, especially when it comes to currency conversion fees, hence I use primarily EP.
 

vinylweatherman

You type well loads
Joined
Oct 14, 2004
Location
United Kingdom
£8 for a transfer to bank is excessive. It costs nothing like this much for a bog standard BACS transfer. I could understand a fee of £8 for a same day CHAPS transfer as solicitors charge £25 for this service.

The fees may be designed to modify behaviour and discourage small withdrawals to one's bank. This will hit small time players, but the big hitters are likely to be Neteller VIPs which means that many of these fees are reduced or waived.

On top of this, casinos are increasingly trying to discourage the use of Neteller in favour of debit and credit cards. Many have implemented more onerous terms simply because a player has deposited via Neteller. It used to be the other way around, casinos would give up to 15% extra bonus cash purely for using Neteller rather than a credit card. It was the high card fees paid by the casino that was behind this. Now it seems casinos feel that cards are a better option than Neteller. An EU directive that has dramatically cut the fees card providers can charge merchants is likely to make cards an even better option for casinos than Neteller, which is reputed to charge as much as 6% to casinos. The downside of using cards is constant interference from one's bank in blocking random deposits because their automated fraud detection has been triggered, plus the fact that the bank can know all about your gambling habit, which can be taken into account in a negative way when asking for a loan or mortgage.
 

t4llek

Full Member
Joined
May 31, 2013
Location
portugal
£8 for a transfer to bank is excessive. It costs nothing like this much for a bog standard BACS transfer. I could understand a fee of £8 for a same day CHAPS transfer as solicitors charge £25 for this service.

The fees may be designed to modify behaviour and discourage small withdrawals to one's bank. This will hit small time players, but the big hitters are likely to be Neteller VIPs which means that many of these fees are reduced or waived.

On top of this, casinos are increasingly trying to discourage the use of Neteller in favour of debit and credit cards. Many have implemented more onerous terms simply because a player has deposited via Neteller. It used to be the other way around, casinos would give up to 15% extra bonus cash purely for using Neteller rather than a credit card. It was the high card fees paid by the casino that was behind this. Now it seems casinos feel that cards are a better option than Neteller. An EU directive that has dramatically cut the fees card providers can charge merchants is likely to make cards an even better option for casinos than Neteller, which is reputed to charge as much as 6% to casinos. The downside of using cards is constant interference from one's bank in blocking random deposits because their automated fraud detection has been triggered, plus the fact that the bank can know all about your gambling habit, which can be taken into account in a negative way when asking for a loan or mortgage.

I subscrive everything u say and know for a fact that i was refused a loan for my house a few years ago because i used my card exclusively for online gambling and my bank at the time(even when i never had any delays in any kind of payments) straight up said to me they wouldnt borrow to people who gamble, ofc i had to go to another bank and got the loan, but it was a hard road, nowadays i use only my card for that tenner at 32red every 3 months or so, not hundreds or anything like that, i adivse people to use either paysafecard or neteller/skrill for their online gambling.
 

citizenx

Non-Gambler
Joined
Nov 29, 2012
Location
UK
£8 for a transfer to bank is excessive. It costs nothing like this much for a bog standard BACS transfer. I could understand a fee of £8 for a same day CHAPS transfer as solicitors charge £25 for this service.

The fees may be designed to modify behaviour and discourage small withdrawals to one's bank. This will hit small time players, but the big hitters are likely to be Neteller VIPs which means that many of these fees are reduced or waived.

On top of this, casinos are increasingly trying to discourage the use of Neteller in favour of debit and credit cards. Many have implemented more onerous terms simply because a player has deposited via Neteller. It used to be the other way around, casinos would give up to 15% extra bonus cash purely for using Neteller rather than a credit card. It was the high card fees paid by the casino that was behind this. Now it seems casinos feel that cards are a better option than Neteller. An EU directive that has dramatically cut the fees card providers can charge merchants is likely to make cards an even better option for casinos than Neteller, which is reputed to charge as much as 6% to casinos. The downside of using cards is constant interference from one's bank in blocking random deposits because their automated fraud detection has been triggered, plus the fact that the bank can know all about your gambling habit, which can be taken into account in a negative way when asking for a loan or mortgage.

I agree, it is expensive BUT this is a unique situation in my mind in that the money coming out are winnings so for me, i'd just account for this in my withdrawal. For instance, I might withdraw £1005 now (current fee is a fiver) but in future it would be £1008 therefore resulting in a nice round figure hitting my bank.

As for Casinos discouraging Neteller. I use it exclusively as withdrawals are available to me immediately, not days later. Any casino making it difficult for me to use that on their site will immediately and permanently lose my custom.
 
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