Neteller>>>UK bank, echange rates.
 

Party gives a good exchangs rate when withdrawing to GBP but it would be more convenient for me to use neteller. How good is there exchange rate and are there any fees?

Thanks
James

Re: Neteller>>>UK bank, echange rates.
 

I have withdrawn to SEK and the exchange rate was very bad, about 4% lower than the spot price.

Re: Neteller>>>UK bank, echange rates.
 

The exchange rate itself for £ is reasonable for Neteller, but they incorporate that with a 1.9% fee. They have details on their website.

FWIW, I deposit to Party with Neteller, play a bit(not a bad idea IMO), then withdraw to my Switch card.

Ojo_Rojo

Re: Neteller>>>UK bank, echange rates.
 

If you are talking about withdrawing to a Neteller debit card and then cashing out of an ATM then the exchange costs are very high as you end up going through a US$ to Canadian$ to US$ to UK Sterling route which is extremely expensive.

If you are just planning on cashing out via cheque or bank transfer directly through Neteller then the position might be a little better. However, I can't see how this option is any more convenient than a direct cash out via Party where the exchange rates are reasonably good. I certainly think it will prove more expensive than the Party route so is probably only an option worth considering if you don't have a Switch card.

If you've got a Switch card available to do it on then Party is the best option in terms of low exchange rate costs and speed, as far as I've experienced.

Sheriff

Re: Neteller>>>UK bank, echange rates.
 

Party now allow you to withdraw to your visa if you make a small deposit via visa. This is what I did.

Re: Neteller>>>UK bank, echange rates.
 

[ QUOTE ]
Party gives a good exchangs rate when withdrawing to GBP but it would be more convenient for me to use neteller. How good is there exchange rate and are there any fees?

Thanks
James

[/ QUOTE ]

I am in the process of trying to move money out of Neteller directly into my UK bank account. Neteller took some fees out before it processed and I have no idea what the rate is as 10 days later I still have no CR at my Bank [img]/images/graemlins/mad.gif[/img]

Party to switch is far and away the easiest in my opinion.

Re: Neteller>>>UK bank, echange rates.
 

FWIW I am in the process of setting up a US$ bank account with Nationwide. I will then withdraw my $ to that account, and then trade that for £ (which will go into my normal account) via www.xe.com

This will give me the best rate I believe.

Re: Neteller>>>UK bank, echange rates.
 

[ QUOTE ]
FWIW I am in the process of setting up a US$ bank account with Nationwide. I will then withdraw my $ to that account, and then trade that for £ (which will go into my normal account) via www.xe.com

This will give me the best rate I believe.

[/ QUOTE ]
Interesting. This could be useful in the future when I'm moving more money around. My main account is with Nationwide but I don't have a switch card with them. I have one with another bank but I'd prefer to use just one to keep things tidy.

Thanks for the replies everyone. I'll stick with Party for now. I really like the way they give you an exchange rate as you're withdrawing so you know exactly where you stand.

James