Skrill v Neteller v Wire etc

[Frank]

I jsut got the same Email from Neteller 1.75% fee.. now does that cover multi currency withdrawals or all withdrawals?

 

[KasinoKing]

isn't it more than 25%?

Well depends how you look at it:
€3.95 is 25.32% more than €2.95.
But you could say it's an 33.9% increase, yes.
So I guess I worded my post wrong

KK

 

[CygX1]

The fees for credit card suppliers were limited earlier this year by European/ EU institutions. I am not sure if this has anything to do with it but to me this additional withdrawal fee just seems like a money grab by Neteller/ Skrill.

 

[jopaa]

1.75% fee.. now does that cover multi currency withdrawals or all withdrawals?

From the email I've understand that this fee applies only to Net+ and Skrill MasterCard withdrawals.

Neteller: Before I was paying $6 every $1000 withdrawal (max per day) through Net+ and now, according to the new fees, I will pay $17.5 !?! plus the conversion rate that sucks so I presume that every $1k I will loose around $50.

Skrill: Before I was paying €1.8 every €250 withdrawal (max per day) through Skrill card and now, I will pay €4.375, plus the conversion rate.

Since I use both these cards to withdraw my commissions, I must find another method because the fees are just ridiculous.

 

[CygX1]

Yes. As of may 17th 2016 these cards will have lost their function as a method to withdraw money due to these additional fees. The only thing they will still be good for is direct purchases in the currency of the ewallet.

 

[TheGooner]

With that in mind, I see a few good US programs moving towards using Bitcoin this week.. What is the Bitcoin market like for UK programs? If any of them can pay via that option, that should eliminate a lot of these problems...

I'm not sure that I see this solves ANYTHING - unless you plan on keeping the amount in bitcoins.
From what I can see on the exchanges - turning Bitcoin into cash is convoluted and time consuming ifyou have any volume - and still costs 1%+ to do so.

 

[Chipy]

Skrill is the best - Lowest fees, instant payments.. however not all programs work with skrill.

Neteller is also great - Low fees (a bit higher than skrill), instant payments, Almost all affiliate programs are working with neteller.

Wire is the worst - Expensive, hard to manage.

Hope that helps.

 

[PaaskeUK]

Hi guys

I am really angry with the fees at Neteller. We might not notice them so much with smaller amounts and normally I have just accepted it and not looked the “Real” figures.

I am expecting payment from VJ affiliates very soon and as they only work with Euros now (crap for uk) then payment of €2095 will go into player account which is also Euro.

If I then use neteller I can expect best rate to be 0.75 but should be around 0.79.

So end result would be £1571 neteller fx rate, £1634 at normal fx rate.

Other example on neteller crazy exchange rates is :


I made deposit of €15 which neteller charged me £12.31

I then checked with XE currency converter which uses the mid markets and is what I think best tool to measure with. This is just shocking!!! And I am so angry.

Mid market exchange which Neteller is supposed to charge (I know they have the fx charge)

12.31 GBP = 15.6341 EUR
British Pound ↔ Euro
1 GBP = 1.27003 EUR 1 EUR = 0.787382 GBP
Mid-market rates: 2016-05-05 21:16 UTC

Result with Neteller >

Date 05-05-2016
Status Accepted
Transaction amount 15.00 EUR
Effective FX rate 1 EUR = 0.82086540 GBP
Service fee 0.00 GBP
Credit/Debit 12.31 GBP

So I make deposit at Casumo and they use fx rate at 0.82 !! (is it only neteller who has control over this or does the casino also use a different set fx rate?

As by neteller terms and conditions they will “only” charge 3,39% exchange free. BUT then this cannot be correct? Also I am on Silver VIP level which means fx exchange fees is ONLY at 2.59%

BUT with this very poor fx rate they are actually doing a much higher percentage. Surely that cant be legal? And customers should be able to maybe sue is a harsh word but claim charges back like we see with banks in UK where we can claim back charges or like payments to banks for account packages.

That is basically a 4% fx rate charge and not 2.59% !!

Okay but I have quite few questions for you J Also sorry for this long post I might come out bit wrong as I normally jiggle in the same words LOL GRRRR

1. Should I just withdraw whole amount to neteller? Or use visa debit card / bank transfer. Do you know if Barclays give better exchange or does it also influence at what exchange Vera John sends the money?

2. Plainpartners also have option direct to bank but that is essential the same as I withdraw to my bank. Do you know what if I changed player account to pounds would that do me any better?

3. Also how come each Casino the exchange rate seems to be different? I have proof of this despite withdrawals or deposits has been at the same time. What is you guys experience?

4. Okay will finish off here and want to know if maybe neteller is giving a worse exchange rate because it is affiliate payment? In this case its not as it gets withdrawn from player account and therefore not reflected as this. But I seem to always get very bad exchange rate when I receive from Guts casino (GIG affiliates) Anyones experiences in this?

That’s it for me how to hear peoples experience in this I know KK for sure will have some good stuff. I am mainly wanting to hear from UK affiliates or anyone welcome with knowledge about it all cheers guys.

 

[Frank]

The FX rate is usually set by your bank, you will almost never get the fx rate shown at XE, always someone looking to make a few cents on the dollar euro etc, You could always set up a Euro account but upon withdraw you would still be faced with the same problem

 

[PaaskeUK]

Just bumping my post above as not really had any comments from anyone apart from Frank I guess it might be only KK who is also Uk affiliate But I was also thinking of changing my Vera&John casino account from Euros to Pounds. So that way my earnings in Euros will be directly converted into pounds in player account and then withdrawal to neteller will be without fees. Just not sure what is best but will be sending email to Plainpartners and see and also Vera&John support now as now feedback here but i would assume by law Plainpartners has to use a 3rd part for conversion and can not do conversion exhange in house.

PS I already have EURO account as well with Neteller as I have Silver VIP status( i have one £ and one seperate € account). Also have Mastercard for withdrawals. BUT again yes like Frank is mentioning I will be hit by exhange the other way around if I try and withdraw Pounds in UK from it. Or if do bank transfer.

 

[KasinoKing]

Just bumping my post above as not really had any comments from anyone apart from Frank I guess it might be only KK who is also Uk affiliate ...

I used to worry about fees and stuff and even used to delay cashing-out from Neteller hoping for a better rate etc., but in the end I just started to accept it as an unavoidable overhead.
Now I just use the most convenient method which matches the currency the operator pays in and don't worry about it.
Worse things can happen - like some dodgy RTG casino pissing-off with $7K of my money...

KK

 

[PaaskeUK]

I used to worry about fees and stuff and even used to delay cashing-out from Neteller hoping for a better rate etc., but in the end I just started to accept it as an unavoidable overhead.
Now I just use the most convenient method which matches the currency the operator pays in and don't worry about it.
Worse things can happen - like some dodgy RTG casino pissing-off with $7K of my money...

KK

Yeah you are right it is just bit annoying as we have to pay tax of the "best rate" or actually whatever HMRC has setup. This is main concern as my earnings has gone quite hefty up on the "Euro" front and so I am losing a lot in expenses and exchange fees etc. And from what I understand you can not use any tax rebate towards these fees

 

[KasinoKing]

Yeah you are right it is just bit annoying as we have to pay tax of the "best rate" or actually whatever HMRC has setup. This is main concern as my earnings has gone quite hefty up on the "Euro" front and so I am losing a lot in expenses and exchange fees etc.
And from what I understand you can not use any tax rebate towards these fees

Yes you can - you only have to declare your NET income, not gross.
i.e. Only tell the tax man how much you actually received to your bank.
Not even the HMRC would expect you to pay tax on something you never had!

KK

 

[preditor]

I hate Neteller and Skrill nowdays! Every single time i log in i have to awnser security questions, enter the last digits from the card etc.

Back in the old good days i had Neteller Silver and the Net+ card was working well, but nowdays when dropped down to Bronze every single transaction or withdraw from the Atm feels like a pain in the as.

Its also kind of a Russian roulette even the Neteller balance shows "Yo man, you got cash!" 8/10 times a withdraw from a Atm gives a "Connection to your bank failed" and the Atm spits out the Net+ card right back at you. I lost my trust to thouse Mastercards from Skrill and Neteller as they dont work like a Mastercard should. I mean, thers almost no online shopping sites here in Sweden that i have managed to go "shop-a-holic" at without getting a error message like "Unable to process your order, try an other card"

The faq bouth Neteller and Skrill was hacked and tens of thousends of accounts was "leaked" out and also the faq that Neteller time to time is a 404 and site down is very serius issues, so im all like "Fak that, cash is king" (as soon as i have managed to update the rest of my affiliate accounts with payment method: Cash)

 

[affeaffe]

Anyone who could say what a normal fee could be for a bank transfer from the affiliates ? , transfer within EU. Is It like 5-10 euros or more ?

 

[AussieDave]

The FX rate is usually set by your bank, you will almost never get the fx rate shown at XE, always someone looking to make a few cents on the dollar euro etc

I've managed to arrange with some of my long term aff program, wires sent in AU$. The same goes on my casino account; those times when I've hit BIG and get it wired. If I got funds sent in the usual payout currency of US$. My bank's FX is always AU .04 cents lower that the current FX rate shown on EX.

Banks et al are a shifty lot. They'll use a lower conversion rate.
However not being happy with (in my case) an 4% extra, they then slap on an FX fee of 3%, (yes I sh#t you not).

So in really wire terms, if I can't get the cash sent in AU$... I'm stung 7%, plus their wire fee (AU$25), the intermidatory bank's fee (AU$25) and up to another 2xUS/(EU equivilant) $25, if it passes through 2 more banks. Normally that's only 1 extra, but sometimes, for some reason, it is 2.

For me, using a web-wallet, even if it's not a VIP account, still means I'm saving $'s.

 

[Frank]

With that in mind, I see a few good US programs moving towards using Bitcoin this week.. What is the Bitcoin market like for UK programs? If any of them can pay via that option, that should eliminate a lot of these problems..

I honestly just started researching it more and opened an account at coinbase this week, I know very little about how many programs are currently using it to pay affiliates.

Not seen any UK programs offering the option yet, "unless they are bitcoin dedicated" EU in general there are just a handful

 

[onlinecasinoscloud1]

Skrill and Neteller after recent renovation fees really sucks. But for me in EU that are still okay because I can quickly receive payment and in affiliate programs threshold limits for ewallet are lower than for normal bank transfer.

 

[jiriprochazka]

I use skrill but that fees really sucks, that's true...

 

[KasinoKing]

I use skrill but that fees really sucks, that's true...

I made a withdrawal this month and noticed they've upped the fees AGAIN!
Up from €3.95 to €5.50 - and that's on top of a €1 rise in March

Good job I only withdraw once every 2-3 months.
And it is pretty much instant...

KK