Neteller review: Skrill's twin with a rewards programme
We opened a fresh account, verified it and transacted — here's what Neteller actually costs, where it beats Skrill, and where it doesn't.
What will you mainly use Neteller for?
Verdict in 30 seconds
Neteller is Paysafe's second wallet and shares Skrill's core strengths: fast verification, instant balance-to-merchant payments and wide specialist acceptance. It costs slightly more per transaction, but the Knect rewards programme can offset that for frequent users.
What we liked
- Automatic ID verification — typically 10–15 minutes
- Instant payments to merchants from balance
- Net+ prepaid Mastercard (virtual and physical)
- Knect points on transactions, redeemable for cash
- Same wide specialist acceptance network as Skrill
- VIP tiers reduce fees significantly at volume
What to watch
- Card deposits cost up to 2.5% — more than Skrill
- Bank withdrawal costs 1.75% (minimum USD 3.50)
- 3.99% FX fee — keep one currency
- USD 5 monthly service fee after 6 months without a login or transaction
Neteller fees, plainly
Published personal-account fees as of October 2026. Confirm current rates on neteller.com before transacting.
| Action | Fee | Speed |
|---|---|---|
| Open account | Free | 2 min |
| Deposit by card | up to 2.5% | Instant |
| Deposit by bank transfer | 0–1% local, 2.5% international | 1–2 days |
| Pay a merchant from balance | Free | Instant |
| Neteller-to-Neteller transfer | 2.99% (min USD 0.50)* | Instant |
| Withdraw to bank | 1.75% (min USD 3.50) | 1–3 days |
| Currency conversion | up to 3.99% | — |
| Inactivity (after 6 months) | USD 5/month | — |
*Receiving money from another Neteller user is free; Neteller True members pay 1.45% to send (min USD 0.50).
From zero to first payment — the exact steps
Same rule as any wallet: <strong>verify immediately after registering.</strong> Unverified Neteller accounts have low limits; verified ones pay merchants instantly.
Register with email
Name, email, country, currency. Choose your main spending currency carefully — changing it later requires support.
~2 minVerify your identity right away
Photo of passport or ID plus a selfie scan in the app. Approval is automatic for most users, typically within 15 minutes, and unlocks full limits.
~15 minMake your first deposit
Local bank deposits cost 0–1% (international bank transfers 2.5%); card deposits are instant but cost 2.5%. Start small to confirm the full loop works.
Instant–2 daysPay from your balance
Choose Neteller at checkout, log in, confirm — the merchant is credited instantly. For card-only sites, use the Net+ virtual Mastercard.
~1 minWithdrawing back
Merchant withdrawals land in your Neteller balance, usually same-day. Spend via Net+ card, send to another user, or withdraw to bank (1.75%, min USD 3.50, 1–3 days).
Same day*How Neteller compares
| Neteller | Skrill | PayPal | |
|---|---|---|---|
| Verification | ~15 min | ~10 min | ~1 day |
| Card deposit fee | up to 2.5% | up to 1.25% | Free* |
| Bank withdrawal | 1.75% (min USD 3.50) | 1.75% (min €3.50) | Free |
| Rewards programme | Knect | — | — |
Skrill is slightly cheaper per transaction; Neteller rewards frequent use. Most people only need one — our Skrill vs NETELLER fee comparison lines the two up side by side; see also the full e-wallet comparison for 2026 and our Skrill review.
Neteller questions, answered
Is Neteller safe and regulated?
Yes. Neteller is operated by Paysafe Group and authorised as an e-money institution (regulated by the UK FCA, with EU services via its licensed EU entity). Customer funds are safeguarded separately from company funds. Turn on two-factor authentication.
Neteller or Skrill — which one?
They're sister products with near-identical acceptance. Skrill has lower card-deposit fees (up to 1.25% vs 2.5%), while bank withdrawals cost 1.75% on both; Neteller adds the Knect rewards programme and VIP fee reductions that favour high-volume users. Casual users: Skrill. Heavy users: compare your monthly volume against Knect returns.
What is the Net+ card?
A prepaid Mastercard linked to your Neteller balance — virtual card issued instantly after verification, physical card available in supported countries. It works anywhere Mastercard is accepted.
How long does Neteller verification take?
Usually 10–15 minutes via the app with a valid passport or national ID. Manual review can take up to 24 hours. Do it immediately after signup to avoid limits.
How do I avoid Neteller fees?
Deposit with a local bank method rather than a card, keep one account currency to avoid the 3.99% FX fee, and log in or make a transaction at least once every 6 months to avoid the USD 5 monthly service fee.