Neteller Deposit Overview
Ewallets are the best banking option for Indians looking to trading on online brokers. Once the account is set up, they have the highest success rate of any option available. Neteller is a leading ewallet for providing a trusted service, lower fees than competitors like Webmoney, and convenient funding options including credit cards and bank transfers. You can also deposit and withdraw fund through local exchanger like vipexchanger Traders can also use Neteller to withdraw from their trading accounts in addition to using it for deposit.
How it Works
Neteller is an ewallet and works much the same as any other. Traders fund their ewallet account using various methods, including bank transfers, credit cards, checks and more. Once money has been transferred to the ewallet, this acts as an online bank account that the trader can use to deposit and withdraw at trading sites.
Fees: Deposit, Transfer, and Withdraw
Fees to Fund Neteller Account: 2.5 –7%
Depending on the method used to fund your Netller account, fees range from 2.5 to 7% of the deposit amount. However, most methods are not over 1.75%. Of course, we recommend funding your Neteller account with either Maestro cards or Bank Transfers if possible because these methods are free.
Popular Funding Options
Bank Transfer: 2.5%
Generally, trading sites do not charge their traders fees for either withdrawing or depositing using Neteller. None of the trading sites that we recommend charge for using Neteller. This means you can freely use your Neteller account to take money from one trading site and move it to another if you would like. To do this, you simply need to transfer money from site A to your ewallet, and then transfer it to site B.
Transfers to Other Neteller Accounts: FREE
There are 1.45%, Min. Fee 0.50 USD charges for transferring to other Neteller accounts.
Withdrawing from Neteller: Free* – 12.75 USD
Withdrawing is how Neteller makes most of its money to operate. Most fees will be about 7.5 USD for bank transfers or checks.
See a full listing of their fees here.
Why Use Neteller?
We recommend ewallets such as Neteller to all Indian traders. Depositing can be the most challenging aspect to freely trading online. Methods like credit cards and some bank transfers are sometimes difficult to execute. However, ewallets have a 100% success rate once money is transferred to the ewallet.
Ewallets also provide a layer of privacy for the trader. If a trader transfers funds directly to online trading sites, a transaction will show up on bank statements or credit cards as a transaction with the trading site. However, when using Neteller, the transaction is between the credit card or bank and Neteller. This means that any transfers will show as transactions with Neteller. What you do with the money after you transfer it to Neteller will remain only on your ewallet account.