Skrill vs NETELLER
Whilst Skrill and NETELLER are popular choices, we've broken down their fees by intended use, to get the facts.
As deposit and withdrawal options vary with each country, why not open open a free Skrill account and a NETELLER account to see for yourself? Simply close or sign-in to the unwanted account within 12 months to avoid inactivity fees.
Skrill vs Neteller for account funding
Skrill is, without doubt, the best way to way to fund your wallet as most funding options are free of charge. It's free to fund your Skrill account using a local bank account, a debit card or credit card. In contrast NETELLER charges a 2.5% fee on all deposists, across all funding methods. In contrast, NETELLER will only waive its fees if you deposit more than US$ 20,000 (or local currency equivalent) into your account.
Skrill vs NETELLER for sending money
Both Skrill and NETELLER allow you to send money easily to anyone with an email address or a mobile wallet. Unlike NETELLER, Skrill also offers domestic and international bank transfers. Whilst the right wallet for you will depend on your personal circumstances, Skrill does, on paper, offer a more competitively priced service for sending money.
Send to another wallet or email:
- Skrill: no charge, if you have funded your account via a bank transfer or a card. Fees will apply if you have never funded your Srill Wallet or deposited via NETELLER, paysafecard or BitPay. These fees will vary depending on when you opened an account. Find out more Skrill.com.
- NETELLER: 1.45% fee, subject to a US$ 0.50 minimum. Importantly, a higher fee will apply if you have never funded your NETELLER Wallet or have deposited only via Skrill, paysafecard, Neosurf, Qiwi or BitPay. Fees will also vary based on your account opening date. Find out more Neteller.com.
Send to a mobile wallet, like M-Pesa:
- Skrill: no charge.
- NETELLER: as above, a 1.45% fee applies, subject to the same caveats.
Domestic bank transfers: subject to a fee up to 2%. A domestic transfer is defined as one that begins and ends in the same country. Skrill alone offers this service.
International bank transfers: no charge. Skrill alone offers this service.
Skrill vs NETELLER for spending money
Withdrawals to a bank account
Both Skrill and NETELLER support withdrawals to a local or international bank account. Skrill charges EUR 5.50 for both local and international transfers. NETELLER charges up to USD 12.75 USD for bank transfers. Please note that additional charges may apply when your withdrawal is processed through correspondent banks. As withdrawal options depend on your country of residence, we encourage you to open a free Skrill account and NETELLER to review your options.
Prepaid debit cards
Both Skrill and NETELLER offer a prepaid Mastercard® that you can use online or in the real world - purchases are free of charge. You may also use their prepaid cards to withdraw cash anywhere that Mastercard® is accepted, subject to a 1.75% cash withdrawal fee. A US$ 1,000 withdrawal limit applies over every 24 hour period. Prepaid cards offer convenience and anonymity, as neither are linked to your primary bank account.
Trading Forex and gambling
Both Skrill and NETELLER have partnerships with an extensive network of Forex brokers, CFDs providers and gambling sites. Neither Skrill nor NETELLER will charge you when you transfer money to an online trading or gambling site. Your funds will usually settle within 24 hours and sometimes in minutes. If you have an interest in Forex, please review our lists of Forex brokers that support Skrill and NETELLER as funding options.
Currency conversion fees
Importantly, both Skrill and NETELLER charge a 3.99% currency conversion fee above the market exchange rate, on all transactions that require an exchange of currency. This applies at all times, whenever you fund your wallet, send or spend money abroad or withdraw your balance. To avoid these charges, you'll need to open an account in the same currency as your bank account, debit or credit card. We've listed Skrill and NETELLER account base currencies below, in alphabetic order, for information.
Skrill account currencies: AED, AUD, BGN, BHD, BRL, CAD, CHF, COP, CZK, DKK, EUR, HKD, HRK, HUF, ILS, INR, ISK, JOD, JPY, KES, KRW, KWD, MAD, MYR, NOK, NZD, OMR, PLN, QAR, RON, RSD, RUB, SAR, SEK, SGD, THB, TND, TRY, TWD, USD, ZAR.
NETELLER account currencies: AED, AUD, BRL, BGN, CAD, CHF, CNY, COP, DKK, GBP, HUF, INR, MAD, MYR, MXN, NGN, NOK, PLB, RON, RUB, SEK, SGD, TND, TWD, USD, ZAR.
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