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Posted by: FourTeller at June 16, 2006, 12:01 pm

Topic: Neteller euro vs dollar Forum: Bonus Whores

RobDoral wrote: terrellk11 wrote: However, if you have a Neteller account in $ and make a deposit to a Crypto site that operates in pounds (Total, UK and Littlewoods), Neteller will charge you a 1.9 percent conversion fee BOTH ON DEPOSIT AND WITHDRAWAL.

Ok, I've made deposits at both Littlewoods and UK recently (and a withdrawal from Littlewoods) but I never saw anything about a fee. At what point does neteller charge you and is there some record of the fee or do they just credit you with the money minus the fee?
Neteller applies the fee in a very sneaky way because it doesn't show up separately but is simply included in their exchange rate. Next time you make a foreign exchange transaction, compare their rate (they usually send an email mentioning it) with any corresponding bank figure and you'll see the difference. I used to discount the effect of Neteller's gouging when I had a CAD account because it wasn't obvious but, as my bankroll increased and I did the math, it became clear just how much I was losing due to the constant currency conversion.

FT
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FT

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