Neteller recently began notifying its customers that the fee associated with ATM cash withdrawals using the NET+ Prepaid MasterCard will be changed to 1.75%.
What do these changes mean to card holders? It is important to note that this change only applies to cash withdrawals and not standard purchases made with this card. The current fee structure varies based on your selected currency but the one thing that remains across all of them is the assessment of flat fee for withdrawals.
The fee of 1.75% is based of the entire amount of the cash withdrawal. You’ll be limited by the standard daily/weekly/monthly withdrawal limits but rather than paying the standard flat fee, you’ll be charged a percentage.
The current fees are GBP 3, US 6, EUR, 4, CAD 6, SEK 40, DKK 30, AUD 6 and JPY 650. On the plus side, customers that withdraw smaller amounts of cash will pay lower fees while those withdrawing larger amounts could end up paying more than they do with current fee amount.
Conducting a Point of Sales (POS) transaction is the best way to avoid fees but it may not be realistic for everyone. Another option offering reduced fees is VIP membership. Details regarding this are available on the Neteller website but it’s free to join and there are a total of five VIP levels based on the amount you spend annually. Your ATM fee will not be reduced but you can earn higher withdrawal limits and reduced fees for other services.
The fee change will be effective May 17, 2016 and does not affect the 3.39% fee for transactions involving foreign exchange.
Neteller to Change NET+ Prepaid MasterCard® Fee Structure
Back
Casino Banking
Back to articles
Was this article helpful?
1/ 1 found this helpfulYour Feedback
Please enter your comment.
Your comment is added.
Member's feedback (15)
All Article Categories
- General Gambling News (7078)
- Casino Games (5766)
- Gambling Law & Society News (3533)
- Casino Software (3040)
- Tournaments, Promos & Bonuses (1446)
- LCB News (973)
- Sports Events (835)
- Land Based Casino News (657)
- Casino Banking (310)
- Bitcoin & Crypto News (295)
- From the Players for the Players (182)
- Casino Warnings & Rogue Reports (109)
- LCB Monthly News Reports (94)
- Upcoming new casinos (73)
- LCB Approved Casinos (33)
- Sportsbook Sponsorship (27)
- Predatory Terms (15)
- Upcoming Sporting Events (5)
- Live Sports Betting (1)
izi90 8 years ago Full Member
I don't know what to think about the new fee structure. It was alright to pay 4€ for a cash withdrawal, since I was only withdrawing relatively bigger amounts but now I will probably consider also withdrawing smaller amounts. So yeah, not as bad as I first thought. :)
Please enter your comment.
Your comment is added.
maiwen63 8 years ago Super Hero
I have an account with Neteller for several years and it seems that the card mastercard Neteller looks better. I use the card only for my neteller withdrawals at ATM, the only problem costs 4 euros each time. it is not profitable if we did a little withdrawal.
Please enter your comment.
Your comment is added.
richmcc1 8 years ago Sr. Newbie
Neteller suspended my account with no explanation and has of yet to refund me my account balance.
Please enter your comment.
Your comment is added.
lillifee66 8 years ago Newbie
I am not amused i use neteller a lot. I think i will pay more than before. Perhaps i will loof for skrill or other payout methods. But i was really fast with the casinos i played. Thought i would never change neteller, but i may be wrong.
Please enter your comment.
Your comment is added.
Mouche12 8 years ago Moderator (nl)
Yes, for smaller amounts upto Euro 200 it is cheaper, but when making a max allowed cash withdrawal of Euro 700 (in my case), it is 3 times as expensive compared to the Euro 4 fee! Especially in view of the withdrawal limits per 24 hours AND, it is a sour deal!
Please enter your comment.
Your comment is added.
stephenclax.mclachlan 8 years ago Full Member
Well to be honest there milking the cow, the goat and keeping the cream in there circle (PAYSAFE) for far to long. Yes it was costing me £3 at ATM for cash withdrawn, Cheeky baskets when they were taking 9.9% for a top up by PAYSAFE and there part of the paysafe group, just like skrill, yeah 1.9% to put money in skrill,,,...
Well to be honest there milking the cow, the goat and keeping the cream in there circle (PAYSAFE) for far to long. Yes it was costing me £3 at ATM for cash withdrawn, Cheeky baskets when they were taking 9.9% for a top up by PAYSAFE and there part of the paysafe group, just like skrill, yeah 1.9% to put money in skrill,,, now heres where the cream gets milked off,,, If a was to purchase £100 in paysafe then deposit to netteller a got basically £90, and i have not played or purchased anything yet. So i wont to play at magical vegas,,,,NO! NO! NO! Am not allowed to even though Magical Vegas CLEARLY TAKE NETTELER AND ALSO EXCEPT PAYSAFE, AS DO CASINO HEROES, GOSSIP SLOTS, DRAKES CASINO TO NAME BUT A FEW. I now have to transfare funds to skrill and if a win also got ATM fee. Then do you also know a paysafe deposit to netteller becomes restricted and HELD FOR 30 DAYS, YOU CAN ONLY SPEND WINNINGS AT SELECTED OUTLETS,,,,,, TRUTH I deposited £20 once got lucky at casino blu and william hill betwen them a won just under £1000. Could a withdraw from ATM NO! NO! NO! FACT I COULDNT EVEN BUY A TRAIN TICKET FROM VIRGIN TRAINS WHOM TAKE MASTERCARD,,,,, Netteller said deposit must sit in my account for 30 days and I COULD ONLY SPEND IT WHERE THEY ALLOWED ME MASTERCARD ACCEPTED STORES OR NOT, WHAT I AM SAYING IS ...... VIRGIN ACCEPT MASTERCARD BUT THAT WAS NOT ONE OF NETTELLERS ALLOWED SITES,,,,, I WOULD SAY THAT THIS POLICY IS CRIMANAL, AS IS THE CHEEKY TO CHARGE ME ANY FEE FROM ATM COME ON NETTELLER HOW MANY TIMES ARE YOU GOING TO TAX ME ON MONEYS YOU ALREADY HAVE TAXED ME ON,,, SKI MASK AN SHOTGUN COME TO MIND,,,,,,,,,,
Show morePlease enter your comment.
Your comment is added.
advoghado 8 years ago Hero Member
Great news, now NETELLER was more like Skrill, to change the fixed rate of about 4 euros for cash withdrawal for a pecentual fee on the total amount withdrawn. particularly I liked it, but I'd much rather be NETELLER was completely free of any kind of fee for withdrawal. I think this is impossible, but certainly NETELLER...
Great news, now NETELLER was more like Skrill, to change the fixed rate of about 4 euros for cash withdrawal for a pecentual fee on the total amount withdrawn. particularly I liked it, but I'd much rather be NETELLER was completely free of any kind of fee for withdrawal. I think this is impossible, but certainly NETELLER makes money from other sources of income not only rates ...
Show morePlease enter your comment.
Your comment is added.
bertinevis 8 years ago Full Member
I myself use a skrill prepaid card, but that must be a lucrative move, I have no idea how much is being withdrawn worldwide, but they already take € 17,500 per million, not crazy. But every disadvantage has an advantage, also in this case
Ik zelf gebruik een skrill prepaid card maar dat zal wel een lucratieve zet zijn, ik heb geen idee hoeveel er word opgenomen wereldwijd maar op een miljoen pakken ze dan al 17.500€ , niet gek bedacht. Maar ieder nadeel heb ze voordeel, ook in dit geval
Please enter your comment.
Your comment is added.
2fast4u 8 years ago Hero Member
eco payz is fine though i think they have bit expenseve wire fees. as far as Neteller goes it is still my number one choice
Please enter your comment.
Your comment is added.
Allstarmikey 8 years ago Super Hero
I have been using neteller for so long now ... I like the advantages I experience more than some things I dont like ... For me Neteller remains the number 1 !
Please enter your comment.
Your comment is added.
Shorty2001 8 years ago Full Member
Since Skrill was bought by neteller i thought there would be some changes coming. I like it that the fees for smaller amounts are now also lower too. I prefer Neteller over skrill anyway as there are some license problems when depositing to certain casinos with skrill from germany.
Please enter your comment.
Your comment is added.
VaRiXD 8 years ago Sr. Member
barebones : I suggest you get a ECOPAYZ card :) Most casino use it it's great card, cost little to deposit but to withdraw it's about 3$ for each 100$ approx On their site IT'S FREE TO RECEIVE A CARD :) Netteller for me it's not good can't use it on any casino it's restricted
Please enter your comment.
Your comment is added.
okotomi1 8 years ago Sr. Member
I am using the Neteller card for several years and I think for the smaller amounts the fee is more than nice comparising to the 4 euro at the moment. The sooner the better. Of course any fee is annoying but this is the ways it goes.
Please enter your comment.
Your comment is added.
Gambinobit 8 years ago Hero Member
Looks like I'm going back to using my Ecocard, I'm so sick of Nettelers greed :/
Please enter your comment.
Your comment is added.
barebones 8 years ago Super Hero
For a while I was actually thinking of purchasing Neteller card but I didn't. For many reasons I've always preferred skrill, I use cash withdrawals frequently,about 5x a month, so fees pay big role in that. For my country, so far the withdrawal fee for Neteller is 7€ while for skrill 4€ (used to be even 2.99€ but got higher...
For a while I was actually thinking of purchasing Neteller card but I didn't. For many reasons I've always preferred skrill, I use cash withdrawals frequently,about 5x a month, so fees pay big role in that. For my country, so far the withdrawal fee for Neteller is 7€ while for skrill 4€ (used to be even 2.99€ but got higher this year). I might prchase Neteller card sometime but at the moment I don't see too many advantages.
Show morePlease enter your comment.
Your comment is added.