how does neteller make money?

[tightmike 0]

This maybe obvious, but not to me. I have never paid anything to Neteller and don't see any advertising. Do they strictly make money from the sites that accept them?

[allinbluff35 0]

the clowns that use instacash

[DCWildcat 0]

8.9% deposit fee

[justblaze 0]

they make money in several ways. they screw people on exchange rates, they charge exorbitant fees to addicted gamblers who need their money NOW instead of waiting 3-4 days, and they collect piles of short term interest. do you have any idea how much cash is sitting in neteller accounts at any given time? they put that money into short term investment vehicles and collect interest on your money, while paying you none. Still an excellent service, though.

[obs 0]

For one, the highway robbery 8.9% fee. Two, the same way a bank does. Granted, they don't keep as much money in accounts as in a bank but they still make interest off your money while it is in there.

[dms26 3]

the clowns that use instacash

They make 9% in a 3-4 day turnaround, which is basically legalized loan sharking. Actually I don't think even loan sharks could charge that much.

[justblaze 0]

the clowns that use instacash

They make 9% in a 3-4 day turnaround, which is basically legalized loan sharking. Actually I don't think even loan sharks could charge that much.

they cant. its waaaaay over the maximum interest rate of 60% per annum.

[mclark340 0]

8.9% is not all for interest...it is also considered a service fee...a way to get around maximum interest rate laws.

[cdddc75 0]

In addition to instacash, I'm sure that the sites have to pay some sort of transaction fee, just as regular merchants pay to Visa and Mastercard.

[Kevin Garceau 0]

I was told once that a site has to pay a fee for each time it puts money back into neteller.... something pretty big too. Like 7 bucks, a transaction.Now that could be way off, but figure thats still a small amount to a site like stars with the amount of rake they are pulling in. Now think of all the transactions it puts through to neteller in a day.... DAYUM. Even if its only a buck, wish I had come up with the idea

[DCWildcat 0]

Do they get 8.9% on ever transaction (withdrawal and deposit)?Also, do they only get that on instacash, or does that go for all transactions?

[dms26 3]

Do they get 8.9% on ever transaction (withdrawal and deposit)?Also, do they only get that on instacash, or does that go for all transactions?

Just on the instacash deposits, it's free if you go the regular route and wait 4 days for the bank to wire it. But I'm sure they also charge a small fee for every transaction, but the poker sites pick up that fee.I use neteller and haven't paid anything.

[smurdogg 0]

just intstacash. I've been there. needing to play now, not 3-4 days. it acutally took a full week every time.

[smurdogg 0]

just intstacash. I've been there. needing to play now, not 3-4 days. it acutally took a full week every time.

[Swift_Psycho 1]

they make money in several ways. they screw people on exchange rates, they charge exorbitant fees to addicted gamblers who need their money NOW instead of waiting 3-4 days, and they collect piles of short term interest. do you have any idea how much cash is sitting in neteller accounts at any given time? they put that money into short term investment vehicles and collect interest on your money, while paying you none. Still an excellent service, though.

Hehe. Good post. I especially like the last sentence after having said everything that you did before it./shrugI dunno, I thought it was funny. :?

[mjd 0]

If you use neteller instacash through the Paradise client (to deposit directly into your Paradise account), Paradise waives the neteller instacash fee.Not that you should ever need a reload on Paradise with all their fish, but I thought you should know.

[justblaze 0]

they make money in several ways. they screw people on exchange rates, they charge exorbitant fees to addicted gamblers who need their money NOW instead of waiting 3-4 days, and they collect piles of short term interest. do you have any idea how much cash is sitting in neteller accounts at any given time? they put that money into short term investment vehicles and collect interest on your money, while paying you none. Still an excellent service, though.

Hehe. Good post. I especially like the last sentence after having said everything that you did before it./shrugI dunno, I thought it was funny. :?

meh, i actually meant it. despite the fact that *gasp* they are trying to make a profit, they provide excellent customer service, they are reputable and regulated, accepted almost universally (in the online gambling world) and there are ways to get around the fees.

[lizzybobio 0]

Expect Neteller to just get bigger now that lots of people can't use credit cards to buy smokes from the internet anymore.