Neteller is a British owned global payment company accessible to Nigeria, and over 200 countries. With Neteller you can send and receive money online in Nigeria with automatic currency conversion, make payment for goods and services and get paid for your services as a freelancer. The electronic payment platform offer online wallet that support 22 currencies to individuals and organizations and a gateway to e-commerce merchants .
Neteller is owned and operated by Paysafe Financial Services Limited, alongside the former competitor Skrill. The online payment company was launched in 1999 in Canada and has its operational headquarter moved from Canada to the Isle of Man in 2004. They are regulated to offer Electronic Money transactions by the Financial Conduct Authority in the UK.
Related article: Skrill account in Nigeria: How to Open, Fund & Withdraw from Skrill
In this post, you’ll learn how to open, deposit, and withdraw fund from a Neteller account in Nigeria. We partner with Neteller, the online financial payment platform.
Neteller has been making e-payments, secure and fast since 2004. With over 23 million account holders worldwide, you can send money to so many parts of the world using Neteller. The Neteller site is available in 16 languages with a 24/7 Customer Support. When you send money through the Neteller Money Transfer service, you’re protected with industry-leading secure payment systems. The Neteller online wallet just like the Skrill is widely used by forex traders and online gaming enthusiasts across the globe.
Neteller offers two online Wallet account type – Personal and Business accounts.
NETELLER PERSONAL AND BUSINESS ACCOUNTS
The Neteller personal account are use to buy products online, buy and sell cryptocurrencies online, send money and receive money from other people (including Neteller members) while the business account are open by marchants for receiving money from clients or integrated to eCommerce site for clients to easily make payments for goods and services.
Open a Neteller Account
Follow these steps to open a Neteller account:
- Go to the Neteller official website and click on the “sign up” button or Download Neteller Mobile App from Google play store or Apple store. It is important that you fill in your details accurately.
- Enter your full names
- Select your country and currency
- Enter your active email address and password.
- Click on the “register” button.
After registration, login into your Neteller’s member area or dashboard to set up your account for usage.
Once, you log on, you will see 2 tabs, the first is for making payment while the second is for sending money to another Neteller member.
- Click on pay online and fill the form for: Address, City, Postal code, Date of birth and Phone number.
- Next, verification your phone number and email address. A verification code will be sent to your registered phone number which you are expected to verify within 15 minutes. Input the code that will be sent to your registered number.
- Create a 6 digits PIN to secure your account. These 6 digits numbers are usually needed when you want to log in or make withdrawals from your Neteller account. So, save the PIN securely.
Congratulation! You have successfully open a Neteller account.
Note: Neteller has two verification levels. The first verification mentioned above is to set up your account for usage. The second verification is to lift the limits on your account. I will discuss this in my next article.
Deposit Fund into your Neteller Account
As a Nigerian, you can deposit money into your Neteller wallet via bank transfer deposit, bitcoin or Skrill.
To make a bank transfer deposit into your Neteller account simply:
- Log into your Neteller account.
- Click on Manual bank transfer within the MONEY IN section of your NETELLER account.
- Note the displayed bank details and Reference number – you will need those to make the transaction.
- Complete the payment:
- You may have the option to choose the currency of the transaction – this will depend on your country of residence. Based on the currency you choose, different bank details will be displayed.
- We can only process transfers coming from a bank account on your name. Third party transfers and wires from business names will be returned.
- Cash deposits cannot be accepted either due to regulations. If you want to make a cash deposit, go with Paysafecash
To deposit fund into Neteller wallet via Bitcoin:
- Log into your Neteller account
- Click on the ‘MONEY IN’ tab and select the Bitcoin option.
- Type in the amount you want to fund into your account, make sure your Bitcoin app is still running.
You will be redirected to a third-party app through which you will complete the transaction. Please ensure you provide your e-mail in case there is an error.
To deposit fund into Neteller account via Skrill:
- Log into your account
- Click on the ‘Money in’ tab and select the Skrill option.
- You will be redirected to a Skrill page where you can add your Skrill account details.
- Click on Pay Now tab and your Neteller account will be credited.
NB: The Skrill option is available to those with a Skrill account only.
Withdraw from Your Neteller Account
When you want to make a withdrawal from your Neteller account, go to the ‘money out’ tab and select your preferred withdrawal method, then input the amount that you want to withdraw.
You should note that the ‘money out’ is the tab that will lead you to the withdrawal methods that you can choose from.
The following are some of the methods that you can use to withdraw your fund to your account.
WITHDRAW TO YOUR BANK ACCOUNT IN NIGERIA
To withdraw directly to your bank.
- Log into Neteller Account and go to the “MONEY OUT” tab section.
- Click on the “Withdraw Now” under bank account.
- Add your bank account details for a first-timer (if you have previously registered your account, just select the bank account)
- Click “Next” and add the amount you intend to withdraw.
- Then, Click “Next”.
- A page containing the summary of your withdrawal will be displayed, click “Confirm” to complete your withdrawal.
* To complete the transaction, enter your Secure ID.
Please note that it may take 1 -5 business days for your money to get into your local account.
WITHDRAW FROM YOUR MOBILE WALLET
To withdraw fund from your mobile wallet:
- Go to the Money out tab.
- Select withdraw now under Mobile Wallet.
- Add your mobile wallet and then click next to go to the next level of your transaction.
- Enter the amount you want to withdraw and click next, you will be taken to the next page which contains a summary of your withdrawal.
- Click confirm to complete your transaction.
WITHDRAW TO YOUR SKRILL ACCOUNT
Follow these steps to withdraw from your Neteller account to your Skrill account.
- Go to the Money out tab.
- Click the Withdraw Now tab under Skrill.
- Enter the amount and the valid email of the receiver (you can send it to yourself).
- Click Next, you will be taken to the summary page of your transaction.
- Click confirm to complete your withdrawal.
Please note that other withdrawal methods are country-specific. Remember that your ID will be needed to complete the withdrawals regardless of your chosen withdrawal method.
Neteller Transaction Charges/Fees
- Deposit fee (all local and global payment methods) – 5% per transaction
- Foreign exchange Fee – 4.49% per transaction to the NETELLER wholesale exchange rates
- Withdrawal Fee from NETELLER Account to a Skrill Account – 3.49% per transaction.
- For all transactions involving currency conversion, NETELLER adds 4.49% to the average daily interbank market rate published by a third-party foreign currency data provider.
- Your NETELLER Account is free for personal use as long as you login or make a transaction at least every 12 months. If you don’t do this, a monthly service fee of USD 5.00 (or equivalent) will be deducted monthly from the available funds in your Account.
You can use your Neteller account to make payments online, receive money and also use their affiliate links to make some cash.
For business owners, you can use Neteller to receive recurrent revenue from your subscription platform this makes it easy for you to make money while serving your customers without much issues with how you are going to get paid for your services.