Neteller fee raise

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ratioxz
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Neteller fee raise
« on: August 16, 2016, 02:23:43 PM »

We would like to notify you of an upcoming change to the NETELLER fee structure. You can review the new fees here.
https://www.neteller.com/en/fees

Deposit to skrill from 1.9% to 3% *Effective October 17 2016, the Deposit to Skrill Fee will change to 3%.
Friend transfer from 1% capped at 10$ to 1.9% capped at 20$ *Effective October 17 2016, the Money transfer fee will change from 1% to 1.9%, capped at $20

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luctens
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Re: Neteller fee raise
« Reply #1 on: August 16, 2016, 09:15:25 PM »

bbc_standard_quote">We would like to notify you of an upcoming change to the NETELLER fee structure. You can review the new fees here.
https://www.neteller.com/en/fees

Deposit to skrill from 1.9% to 3% *Effective October 17 2016, the Deposit to Skrill Fee will change to 3%.
Friend transfer from 1% capped at 10$ to 1.9% capped at 20$ *Effective October 17 2016, the Money transfer fee will change from 1% to 1.9%, capped at $20
Their greed has no boundaries. Especially with Skrill to Neteller and friend to friend transfers, these are the two things that would surely cost them next to nothing as it would just be transferring money between their own processors so this isn't done to cover their costs or whatever, this is a blatant money grab by some monopolists who think nobody can touch them. Absolutely disgraceful.

In my view, these ever increasing fee changes is corporate suicide and is getting to be pretty much a carbon copy of Betfair. The trouble with Skrill/Neteller is that they have nowhere near as many USPs that Betfair had in their heyday so it would be even easier in the e-wallet market than the betting exchange market for either Ecopayz or a brand new competitor to come in and flush these money grabbing merchants out of the ground by offering a low margin, low cost alternative. I see so many similarities to Smarkets coming in and challenging Betfair to what could very well easily happen in the e-wallet market too, and happen at an even faster rate than the Smarkets challenge to Betfair. Maybe even Smarkets could use their expertise to creating an e-wallet as it would be pretty much the same business model, concept and ethos that they are using in the betting exchange market, who knows.

Like with Betfair, if Skrill/Neteller continue on their merry way increasing fee after fee, they will create irreparable damage with their customers absolutely hating them and wanting to leave as soon as possible and rather than with Betfair where in the end it will take around 15 years from the start of their greed from them to fall off their perch, I give it 5 years before Skrill/Neteller get toppled over as long as a competitor can offer a low cost, low margin alternative to this disgusting corporate greed.
« Last Edit: August 16, 2016, 10:04:34 PM by luctens » Logged
dealer wins
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Re: Neteller fee raise
« Reply #2 on: August 16, 2016, 09:57:51 PM »

Ive not used Skrill now since June, I was putting well over £100K a month through them for the 2 years previous.  Debit cards and bank transfers are slightly more hassle, but offer more security.  And I dont like greedy companies so will put myself out to avoid them (and NT obviously)
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Alfa1234
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Re: Neteller fee raise
« Reply #3 on: August 16, 2016, 10:55:06 PM »

bbc_standard_quote">Ive not used Skrill now since June, I was putting well over £100K a month through them for the 2 years previous.  Debit cards and bank transfers are slightly more hassle, but offer more security.  And I dont like greedy companies so will put myself out to avoid them (and NT obviously)

Ditto, emailed them several times about it.  Have not used it ever since they took away my last hassle-free deposit option (Sofort).  If they lose enough revenue, something will change...I hope.
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ProfGambler
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Re: Neteller fee raise
« Reply #4 on: August 17, 2016, 12:48:42 AM »

bbc_standard_quote">Ive not used Skrill now since June, I was putting well over £100K a month through them for the 2 years previous.  Debit cards and bank transfers are slightly more hassle, but offer more security.  And I dont like greedy companies so will put myself out to avoid them (and NT obviously)

Same here. I 99.9% prefer to use bank and card transfer. It's takes time but I know it's safest option available.
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Skaggerak
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Re: Neteller fee raise
« Reply #5 on: August 17, 2016, 02:17:18 PM »

It would be at least slightly understandable if they guaranteed any sort of security but we know it's a grey area regarding whether or not they communicate with companies and share information.

What they are doing is making most of their customers lives much harder, some of their customers lives a lot easier, whilst risking a lot of potential profit in the future.
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alimma
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Re: Neteller fee raise
« Reply #6 on: August 17, 2016, 05:46:34 PM »

what about paypal
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my_username
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my_username

Re: Neteller fee raise
« Reply #7 on: August 18, 2016, 08:49:43 AM »

so what are the alternatives? debit cards?

can you buy them for your friends or do you need them to do it ?
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csampion
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Re: Neteller fee raise
« Reply #8 on: August 18, 2016, 01:40:28 PM »

This is so typical of the business world in general. Companies are so obsessed with increasing revenue and profits (the emphasis is on _increasing_) that if there is a financial year in which they only replicate the previous year's profit (however high it was already), then it's taken as a failure. The argument of business leaders for this is typically that "we have to act in the interest of our shareholders" and "meet our shareholders' expectations" blah blah. And when a company can no longer grow organically or through acquisitions (e.g. when they have reached a monopolistic position), all they can do is raise their fees. Which is acceptable to a degree, but Neteller's raise back in May was far too much, let alone this next one in October.

I promote Neteller myself on my small gambling-related website, so I earn money from them as an affiliate. This means that the affiliate receives a percentage of the fees that Neteller receives from merchants (sportsbooks, poker sites, etc.), so this excludes deposit and withdrawal fees. My earnings have declined sharply (by some 30-40%, although there are fluctuations) after the first fee raise in May, so the implication is that people are noticeably turning away from using Neteller. Still, it can be that Neteller makes more money in total due to the increase in deposit and withdrawal fees, but that's not at all certain, so it might be a lose-lose situation after all for all parties. Maybe the new fee raise scheduled for October is because they failed to make more money after the first raise. Or perhaps they just wanted to split the different elements of the raise into two batches anyway so that it wouldn't hurt so much at once, but still... My feeling is that this raise simply backfired on Neteller, as I'm not sure that raising deposit and withdrawal fees offsets the 30-40% decline in transfer activity, i.e. transfers to and from merchants. (Again, this 30-40% figure is only based on my experience and may be too small a sample.)
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luctens
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Re: Neteller fee raise
« Reply #9 on: August 20, 2016, 04:53:57 PM »

bbc_standard_quote">This is so typical of the business world in general. Companies are so obsessed with increasing revenue and profits (the emphasis is on _increasing_) that if there is a financial year in which they only replicate the previous year's profit (however high it was already), then it's taken as a failure. The argument of business leaders for this is typically that "we have to act in the interest of our shareholders" and "meet our shareholders' expectations" blah blah. And when a company can no longer grow organically or through acquisitions (e.g. when they have reached a monopolistic position), all they can do is raise their fees. Which is acceptable to a degree, but Neteller's raise back in May was far too much, let alone this next one in October.

I promote Neteller myself on my small gambling-related website, so I earn money from them as an affiliate. This means that the affiliate receives a percentage of the fees that Neteller receives from merchants (sportsbooks, poker sites, etc.), so this excludes deposit and withdrawal fees. My earnings have declined sharply (by some 30-40%, although there are fluctuations) after the first fee raise in May, so the implication is that people are noticeably turning away from using Neteller. Still, it can be that Neteller makes more money in total due to the increase in deposit and withdrawal fees, but that's not at all certain, so it might be a lose-lose situation after all for all parties. Maybe the new fee raise scheduled for October is because they failed to make more money after the first raise. Or perhaps they just wanted to split the different elements of the raise into two batches anyway so that it wouldn't hurt so much at once, but still... My feeling is that this raise simply backfired on Neteller, as I'm not sure that raising deposit and withdrawal fees offsets the 30-40% decline in transfer activity, i.e. transfers to and from merchants. (Again, this 30-40% figure is only based on my experience and may be too small a sample.)
So many companies nowadays are run with the view of what are we going to be like in 3 or 6 months time when we have to present our results to the city, instead of thinking how we can maintain loyal customers and prosperity for years and decades to come. Too much short termism in companies, especially in bookmakers, e-wallets and the like.
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Esso
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Re: Neteller fee raise
« Reply #10 on: October 20, 2016, 08:09:05 AM »

these greedy bast.... . 2% for every transaction now up to 18€
« Last Edit: October 20, 2016, 08:11:53 AM by Esso » Logged
dealer wins
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Re: Neteller fee raise
« Reply #11 on: October 20, 2016, 08:46:23 AM »

No longer use them at all now, and last year I was paying at least £50k a month to merchants, some months 4 times that!  Fuck em the greedy sods!
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Alfa1234
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Re: Neteller fee raise
« Reply #12 on: October 20, 2016, 11:05:06 AM »

bbc_standard_quote">No longer use them at all now, and last year I was paying at least £50k a month to merchants, some months 4 times that!  Fuck em the greedy sods!

Avoiding them as much as possible as well, use them only a fraction of before.  I sure hope their fee increases were worth these revenue huge losses for them...although I doubt it.
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Gamblers Ruin
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Re: Neteller fee raise
« Reply #13 on: October 20, 2016, 12:53:24 PM »

bbc_standard_quote">You really have to question the nouse of the bigwigs at these big companies.

bbc_standard_quote">I sure hope their fee increases were worth these revenue huge losses for them...although I doubt it.


#business
bbc_link" target="_blank">

bbc_color">(cue tirade from luctens because I disagreed with him)
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Arbusers
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Re: Neteller fee raise
« Reply #14 on: January 01, 2017, 11:04:32 AM »

bbc_standard_quote">Today I got this message from all local banks:
"From 01.01.2017, 18% tax is applied to the online payments with your card abroad (except for the purchase of hotels,merchandises,tickets). and 10% tax is applied to e-wallets(skrill/neteller) deposits."
Happy new year to me.
Thank you my country for these new fucking laws.

Very bad news indeed. This is valid for your cards issued by your bank(s). Right?
I suppose you come from a non SEPA country and therefore you do not have access to skrill/NT cards. It must be pretty hard.
Maybe you should look for other solutions outside your country.
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