Bank Withdrawals - Currencies

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Shawn2k
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Shawn2k

Bank Withdrawals - Currencies
« on: March 15, 2019, 10:14:43 AM »

Hi,

Neteller does not support bank withdrawals to local currencies anymore? Only EURO? This will result in a massive FX fee income for Neteller.

Any other good solutions \ ways to don't convert money and pay 3% +\-....?
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Alfa1234
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Alfa1234

Re: Bank Withdrawals - Currencies
« Reply #1 on: March 15, 2019, 12:05:21 PM »

Withdraw from Neteller to transferwise and use that to transfer into the currency you want.  Should be way, way cheaper.
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Shawn2k
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Re: Bank Withdrawals - Currencies
« Reply #2 on: March 15, 2019, 12:25:29 PM »

How do I withdraw from Neteller to Transferwise? (Probably a newbie question, but have never used anything else then directly transfers to my bank).

Did anyone get a warning about this change?
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arbusers
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Re: Bank Withdrawals - Currencies
« Reply #3 on: March 15, 2019, 12:33:16 PM »

Withdraw from Neteller to transferwise and use that to transfer into the currency you want.  Should be way, way cheaper.

Are you sure this is doable. Last time I checked it wasn't.
« Last Edit: March 15, 2019, 07:40:43 PM by arbusers » Logged
cristi13
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cristi13

Re: Bank Withdrawals - Currencies
« Reply #4 on: March 15, 2019, 12:51:38 PM »

open bank account in EUR then find a local exchange with a good price
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Shawn2k
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Shawn2k

Re: Bank Withdrawals - Currencies
« Reply #5 on: March 15, 2019, 01:10:27 PM »

I'm not to afraid of the costs in my bank - They are pretty low. Netellers costs on the contrary, they are not so funny to pay. Even with high VIP you still pay almost 3%.

Anyway, I can't understand why I did not get a warning about this. It's not a nice way to treat customers. It's greed, just pure greed.

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ludako
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Re: Bank Withdrawals - Currencies
« Reply #6 on: March 15, 2019, 01:32:24 PM »

In NT if you register your bank account as EUR (doesn matter what the real currency of the BA is), they will send EUR to your bank and your bank will convert them to your currency at their exchange rate.
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Shawn2k
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Shawn2k

Re: Bank Withdrawals - Currencies
« Reply #7 on: March 15, 2019, 01:40:32 PM »

Yepp, but when you got a Neteller account in something else then EURO, this will cost - Neteller will convert the money from XXX to EURO and take 3% +\- in fees.

I mean, not giving a sound about this in advance..... it's like stealing money - Don't see the difference.
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ludako
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Re: Bank Withdrawals - Currencies
« Reply #8 on: March 15, 2019, 04:28:57 PM »

Yepp, but when you got a Neteller account in something else then EURO, this will cost - Neteller will convert the money from XXX to EURO and take 3% +\- in fees.

I mean, not giving a sound about this in advance..... it's like stealing money - Don't see the difference.
Oh really? Im sorry that I didnt understand this at first. So you got lets say USD account and before sending to the bank they want to convert the money to eur and steal 3%? wtf :D
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Shawn2k
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Shawn2k

Re: Bank Withdrawals - Currencies
« Reply #9 on: March 15, 2019, 05:28:41 PM »

Yepp, but when you got a Neteller account in something else then EURO, this will cost - Neteller will convert the money from XXX to EURO and take 3% +\- in fees.

I mean, not giving a sound about this in advance..... it's like stealing money - Don't see the difference.
Oh really? Im sorry that I didnt understand this at first. So you got lets say USD account and before sending to the bank they want to convert the money to eur and steal 3%? wtf :D

Here's what it says:
NOTICE:
Local currency bank withdrawals to your country of registration are no longer supported. You can register and withdraw funds to a bank account denominated in EUR.

When my currency is not EURO, the message above means that I can't get my money without converting them at least once, probably twice - Which practically means my money at Neteller and all bookies has dropped like 4-5% in value today.

..So I feel a warning would have been fair play - Or am I to demanding?   ???
« Last Edit: March 15, 2019, 05:31:23 PM by Shawn2k » Logged
Alfa1234
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Alfa1234

Re: Bank Withdrawals - Currencies
« Reply #10 on: March 15, 2019, 05:37:33 PM »

Withdraw from Neteller to transferwise and use that to transfer into the currency you want.  Should be way, way cheaper.

Are you sure this is doable. Lat time I checked it wasn't.

Which part?  I had my transferwise verified with Neteller to make withdrawals about a year ago, maybe things have changed...
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ISIN
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ISIN

Re: Bank Withdrawals - Currencies
« Reply #11 on: July 20, 2020, 01:22:27 PM »

My Neteller account is in GBP.
If I try to withdraw to my bank account that is not in the UK (but in the EU in GBP), will Neteller send GBP or will force to convert it?

I asked Neteller support but I can't get a straight answer from them.
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kapetan1122
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kapetan1122

Re: Bank Withdrawals - Currencies
« Reply #12 on: July 21, 2020, 09:08:57 AM »

If youf bank acc is in GPB they ll not convert your money no matter where your bank is located.
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