Financing your Neteller account with money can be done in a variety of ways based on the user preferences and available options. The methods to deposit the money differ from one country to another including all the necessary information provided available from your personal profile. Service clients make deposits of the payments from their bank account, credit card or Skrill, where transaction limits depend on the preferred transfer method and status level.
We can imagine such a situation with a simple example involving money deposits from credit cards. Please note that your e-wallet usage is very limited until account verification. And the maximum limit for all transactions can vary according to the country, but on average it is $150-500. Therefore, you must keep in mind that the account can be blocked with a request to pass verification even before the limit has exceeded. So we always recommend starting with the verification process first.
Can I withdraw money from Neteller without verification?
It’s one of those ‘yes and no’ types of questions. However, when you use an unverified Neteller account, the withdrawal options get extremely limited. It’s about making sure someone doesn’t use your accounts and funds without your knowledge. Hence, this is done strictly to ensure your accounts security.
You can deposit and transfer funds to Neteller and between Neteller users and that will be all. If you wish to withdraw money, using an ATM, bank account or card, you must verify your account first.
Restrictions for Neteller withdrawal limits
The restrictions imposed by the site on withdrawals are determined below:
- Account type (verified / unverified)
- User account level
- Account currencies
Unverified users are not permitted to withdraw money from the account. So do not rush to credit your accounts with high amounts before going through the verification process. The minimum amount of withdrawal from the bank account for verified users varies according to the country, but the average is $40.
Restrictions associated with the respective users’ country of residence will be shown up in their personal profile.
Can I Send / Receive money on Neteller without verification?
You may send money to another Neteller user without verifying your account. But you cannot transfer it to a bank account or money card until the account has been verified.
Sending money to another user is Neteller’s basic feature, however withdrawal in any form is only for verified account holders.
Whereas, you cannot receive money on Neteller without verification.
However, you can send money through an unverified Neteller account as mentioned earlier but receiving money on an unverified account is highly restricted. This measure aims to keep your funds safe.
Can I use my Neteller account without verification?
Yes, you can use your Neteller account without verification but the services provided will be severely affected. You will end up with much lower limits to what you can send and receive in your account, higher penalties and will be restricted to access cryptocurrency or foreign exchange services without verifying your account. Moreover, you won’t be able to use all of the Neteller’s excellent features as well.
So how to verify your Neteller account?
The Neteller verification stream is entirely automated. First and foremost, a condition is set before the verification which is to make a deposit to your account. Once your account has been funded, you may begin with the verification process.
- So, log in to your Neteller account and then go to settings and select verification.
- Next, get your official documents ready. You will need to scan both the sides of the document. And they should be on your behalf and valid.
- Lastly, the verification stream will access the camera on the selected device. Make sure to enable access to your camera. While verifying, you will take photos of your ID and profile yourself in a short live webcam session.
Henceforth, Neteller will verify your account in a matter of minutes or up to 24 hours.
Conclusion
NETELLER seeks to make sure that each of its users can use the platform at their own preference, that also includes the decision of verifying the account or not. However, the choice of not verifying the account will lead to certain consequences including stricter limitations.
If the verification process is not completed, the fee will be 4.49% for each transfer to another user. By successfully completing all the steps required to verify your account, you will reduce this charge by three times to just 1.45%.
So make sure to verify your account in order to enjoy the full potential of your Neteller wallet!
