WARNING Neteller takes your bitcoins and gives you joke money

[angryargie]

Since the debit card blackout, out of the EU and USA. I decided to try out neteller to cash some bitcoins I threw 5 dollars they charged me 7 included the mining fees. (maybe that's ok since mining fees have skyrocket)
 I tried lots of purchases none of them worked. Today they informed me that since the deposit is made in bitcoins it only can be spend in select commerces and banks. (I imagine they actually meant that those dollars can only be used in European banks   , I don't know what they actually are trying to say with that)
Here is a proof of the many transactions I tried to do and all where cancelled by neteller. It's a virtual mastercard.
https://image.ibb.co/kyJ2iR/netellerscam1.png
https://image.ibb.co/ngwuxm/netellerscam2.png

And some are even European based because it's common practice to process transactions in tax-free countries, like Luxembourg.

Hope this works as warning !!

[junoreactor]

Skrill and Neteller are very greedy and take advantage of their reputation, they are the most expensive ewallet on the market, lucky for them than many big bookmakers work with them, otherwise they would need to cut their fees.
Not surprised they charge a lot too when Bitcoin is concerned.

[audaciousbeing]

Since the debit card blackout, out of the EU and USA. I decided to try out neteller to cash some bitcoins I threw 5 dollars they charged me 7 included the mining fees. (maybe that's ok since mining fees have skyrocket)
 I tried lots of purchases none of them worked. Today they informed me that since the deposit is made in bitcoins it only can be spend in select commerces and banks. (I imagine they actually meant that those dollars can only be used in European banks   , I don't know what they actually are trying to say with that)
Here is a proof of the many transactions I tried to do and all where cancelled by neteller.



And some are even European based because it's common practice to process transactions in tax-free countries, like Luxembourg.

Hope this works as warning !!

You just didn't check well before going that route of spending your bitcoin. The issue is all these other payment platforms are against bitcoin and if you had read well, I think someone also faced the same situation some weeks back. I can't just place the thread now.

What you need to do is to find a way to sell to individuals in your locality. One thing is sure not only you is facing this kind of issue. Another is go through a peer to peer site where you can change your btc with someone who have what you wanted with the myriad of options available. Stay away from skrill, netteller, etc they will only rob you.

[angryargie]

You just didn't check well before going that route of spending your bitcoin. The issue is all these other payment platforms are against bitcoin and if you had read well, I think someone also faced the same situation some weeks back. I can't just place the thread now.

What you need to do is to find a way to sell to individuals in your locality. One thing is sure not only you is facing this kind of issue. Another is go through a peer to peer site where you can change your btc with someone who have what you wanted with the myriad of options available. Stay away from skrill, netteller, etc they will only rob you.

I'm looking to sell them at bitinka.com they seem more legit than Neteller and skrill at least they don't have their headquarters on Island of Maine or Luxembourg. I can wire transfer locally with almost no fees, and they also buy/sell ethereum.

[swogerino]

I am using Skrill and it actually is only 1.0% fee when I upload money there in Bitcoin. I don't see this as being greedy and I like their fast withdrawal system directly to my bank account after I have uploaded money in bitcoin. A good thing compared to exchanges like Kraken, they don't need to declare anything as Bitpay takes responsibility for exchanging the coin so until now I have not received a visit from governments entities trying to ask me where did this money came from.

Maybe is me but before judging any service I do a thorough analyze of the good and bad things and then I come to the final conclusion. For Neteller I agree their fees are outrageous but not for Skrill.

[angryargie]

Have you tried to spend that money with a prepaid card?? Maybe it's just in some countries that this is banned.

[angryargie]

I don't know about Skrill but Neteller it's like a f**ck*ng bad joke. Those are not US dollars they are just fake money that you can only spend where they tell you. Like amazon coupons or whatever they should have a Net$$ sign or whatever.
No company that does that can call themselves serious. If I were a EU commissioner I would close their business.

[zaeek]

Humm, Use bnkwallet.com, and send your cash on bitcoin on paypal like that you can pay everywere

[Samarkand]

Have you tried to spend that money with a prepaid card?? Maybe it's just in some countries that this is banned.

You misunderstood the problem of the OP.

Skrill and Neteller allow Bitcoin deposits (for a 1 % fee), but the funds are restricted compared to money
that was deposited using another payment method.

E.g. if you deposit to your Neteller account using bank wire, you can:
-pay merchants
-send P2P payments
-withdraw funds using the Net+ Mastercard

However, if you load your Neteller account using Bitcoin, you can:
-pay merchants
-sent P2P payments

It is not possible to withdraw funds that have been deposited using Bitcoin with
the Net+ Mastercard. You can theoretically circumvent this rule by depositing your funds
to a gambling site and then withdrawing it after reaching a certain turnover. Now your funds
can be used for everything, because they are not directly related to a Bitcoin deposit anymore.

[SONG GEET]

What you can do is use exchangers to exchange your bitcoin to skrill, neteller and than withdraw out those money with their cards or use that card in online stores. They don't allow you to use funds deposited through bitcoin...

[joinfree]

It is a waste of time, i dont even know why you tried to deposit your bitcoins in there.

Neteller is a joke, and their prepaid card was the best thing that they had, but they have cancelled that card in almost all the countries all around the world (including mine), and that is why i stoped using them.

They do not have much fees if you are sending money to another guy, but they charge you a lot of money if you want to buy in shops, ecommerces, and so on.

And the bitcoin deposits that they have is a lie, because you can not send that money to anyone, you can just spend it on another stores that they allow it (it is all a marketing campaign)

[Beerwizzard]

Just read details before ordering a card. I've noticed the same thing about Okpay but they notify about it before you order a card. Also if neteller say that btc deposits can be spent somewhere but not in your online stores then it won't be truth because such restrictions are put by the bank that issued a card and they usually now allow all bitcoin deposits. The only thing that I can advice is that you can use the currency exchange section of this forum and trade your btc for other user's neteller.

[angryargie]

These are the same guys that call Bitcoin a ponzi scheme!! seriously in Argentina we have experience with this sort of things the so called "corralito" where you couldn't withdraw anything from your bank account. Funny thing this banking guys call bitcoin a ponzi when facts prove the opposite.

[junoreactor]

It is a waste of time, i dont even know why you tried to deposit your bitcoins in there.

Neteller is a joke, and their prepaid card was the best thing that they had, but they have cancelled that card in almost all the countries all around the world (including mine), and that is why i stoped using them.

They do not have much fees if you are sending money to another guy, but they charge you a lot of money if you want to buy in shops, ecommerces, and so on.

And the bitcoin deposits that they have is a lie, because you can not send that money to anyone, you can just spend it on another stores that they allow it (it is all a marketing campaign)

Even the fee to send from personal account to another personal account is a joke. I mean Skrill too, they are the same group (paysafe). They are lucky to still have this strong position in the market, because solutions such as Advcash are miles better.
Bet365 and the likes must have a very good deal to keep working with them   (because I know from a good source that the fees are much tougher to digest for merchants accounts).

[magneto]

Lol what? What good is an international remittance company going to do if they restrict their customers spending to european banks? I've had similar tsruggles actually with neteller except it's their stupid restrictions on how money can be spent... I remember there was a restriction with you can't actually send neteller funds deposited with bitcoin to other users, you actually need to spend it with a merchant.

If you don't live in the EU and you don't want to identify yourself, then neteller isn't for you.

Actually their fees are so uncompetitive that i'm sure paypal beats them.

[Samarkand]

...I remember there was a restriction with you can't actually send neteller funds deposited with bitcoin to other users, you actually need to spend it with a merchant.
...

This isn´t true (maybe it was in the past, but P2P transfers with Neteller funds that were deposited with Bitcoin work flawlessly).
Bitcoin deposits can be used to make P2P payments and payments to merchants.

However, debit card withdrawals with the Net+ Mastercard are not possible if the source of your funds is a Bitcoin deposit.
I assume they still have this restriction, because they don´t want people to use them as Bitcoin debit card provider, because
they earn much more if the user spends their money in a P2P transaction or makes a payment to a merchant.

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