Neteller Fees

[scotty34]

Does Neteller charge a fee for changing currency? I have a Neteller account in Canadian Dollars. I recently depsited $100 US into a site, which debited my account $123 CAD. A few days later, I withdrew $107 US from that site, and my Neteller account was credited with $126 CAD. I am pretty certain the exchange rate has not been that volatile over the past couple of days.

My only explanation is that Neteller must charge a fee to change currencies that is not explicitly stated when making the transaction. Is this correct? If so, does it charge you for withdrawls from Neteller or deposits into Neteller (or both)? Is there any way to avoid these? If the one small transaction mentioned above cost me over $10 CAD, I would imagine these add up fast.

[Adde]

Neteller has a 1.9% currency convertion fee, both ways.

Adde

[scotty34]

Damn... I could see that definetly becoming expensive over the long haul. Is there any way to avoid it? For instance, is it possible to change my Neteller account from CAD to USD?

[cgwahl]

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Damn... I could see that definetly becoming expensive over the long haul. Is there any way to avoid it? For instance, is it possible to change my Neteller account from CAD to USD?

[/ QUOTE ]

It is I believe, but you'll have to pay another charge as well. But it is probably your best bet since most of the sites seem to be in US dollars.

[afk]

Hey scotty I'm Canadian as well. It's unfortunate but I don't think that there's a lot we can do about this. It's come up before and I think the general consensus is that we just have to eat it (unless I missed something).

It sucks but I still get slightly excited when my ~400 US cashout "magically" becomes almost $500 Canadian. Big numbers amuse me.