Neteller – exactly explained
For more than a decade, Neteller has been a darling to businesses and individuals a like. They have been applauded for their simple, fast and secure ways of transaction money over the World Wide Web. Neteller is one of the world’s largest and independent money transfer business. They perform transactions worth billions of dollars each year.
This payment system is trusted by merchants and its customers. They have a reach of more than 200 countries across a huge spectrum of businesses and industries.
Neteller is operated by Paysafe Financial Services Limited which is the same company that operates Skrill.
Neteller is an online service which allows you to make instant deposits to gaming sites (and other merchants as well) and fast withdrawals, taking usually around 24-48 hours. You can apply for a Net+ card, which will give you easy access to your funds just like a normal credit card.
The transfers between Neteller users are free and instant. The use of Neteller is free but there are fees for currency exchange and long periods of inactivity. However, these fees are low and not different to regular banking fees.
How safe is Neteller?
Neteller is a large company which is traded on the London Stock Exchange. The Headquarter of Neteller is on the Isle of Man and Neteller is licensed by the FCA for the issuing of electronic money and cash under the Electronic Money Regulations 2011 (900015 FRN).
Paysafe Financial Services Limited is a wholly owned subsidiary of Paysafe Group Plc. The company has received authorization from the Financial Conduct Authority under the Electronic Money Regulations to offer electronic money services. Having been authorized by the Financial Conduct Authority in UK, they maintain one of the highest standards in the business which has made them a leader in the electronic money transfer industry. They have stringent Anti-Money Laundering protocols which makes sure that members are protected from identity theft and fraud.
This is one of the most secure and trusted online payment systems in the world. They have state of the art anti-fraud tools and security features.
The security measures in use are meant to keep you safe when online or offline. Even with the sophisticated tools, you need to also take precaution with your account to protect your security.
What are some of these precautions you should take?
- Review your transaction history from time to time when you think that someone has used your account. Change your password when you notice this and contact the Neteller support service.
- Upgrade your browser when you can, this may assist in upgrading on crucial security patches and updates.
- Once you’re done using your Neteller account, do not close the browser before signing out. Signing out clears your browser cache and protects you from anyone from signing in.
- Do not share your account information with anyone
- Make use of string passwords
- Avoid logging into your Neteller account from public computers
- Make use of the two-step authentication on your account
Do I have other benefits if I use Neteller?
Neteller VIP program
When you become a VIP member, you will enjoy limitless benefits from the program which will make it easy and fun for you to use their services.
What are some of the benefits when you become a member to Neteller VIP program:
- You get an account which supports multiple currencies. This will save a lot when it comes to the forex fees and lower your hassles when you travel abroad.
- You are cushioned from VIP fraud. You are guaranteed 100% reimbursement in case you lose money because of unauthorized account activity.
- You get instant high limits increase when you are a Gold, Platinum or Diamond VIP member.
- As a VIP member you will get exclusive discounts on deposits and withdrawal fees.
- Gold, Platinum and Diamond VIPs get next business day bank transfer withdrawal processing.
- You get an annual reward point bonus for remaining a member to Neteller
- As a VIP member you get a VIP manager who will help you in answering questions and concerns
- Every time you transact you earn reward points which can later be redeemed for cash
In this section, I will furnish you on the amounts of money you should transact in each of the VIP levels
Bronze: $10,000 per year
Silver: $50,000 per calendar year
Gold: $100,000 per calendar year
Platinum: $500,000 per calendar year
Diamond: $2,000,000 per calendar year