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Hello everyone,

Hope this is an ok post for this forum, I'm relatively new here. I think that this is an important thing to get out for any Canadians or even just non-Americans opening a Neteller account. I'm not sure if this has been covered, I've never read a post on it before, though I really wish I had.

One thing that I've never noticed on Neteller until this evening is the fact that they add a 1.9% fee when converting funds. This means that when our base currency is set to CDN for example, a deposit to an American merchant will incur a fee of .019*depositamount. 1.9% may not sound like much, but if we're depositing $600 Canadian we're paying a fee or $11.40. This fee is then taken again when we withdraw.

I was completely unaware of this fee, until I looked more carefully at the debits and credits shown in my account. Depositing to Bet365, withdrawing a few days later, followed by a deposit and withdrawal from Paradise left me paying out over $40. Now, my math may be wrong here, but the fact stands that these fees are quite hefty. If anyone already has a Neteller account with foreign currency (non-American) the only way to solve the problem is to make a new account, which they will transfer all funds and information to.

I apologize if this topic has been covered, and I'm dumb for reposting it and such. Just trying to help fellow players out.

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I went through this as well and decided that it made sense ot open up a US$ account - you still get dinged for the fees, but if you keep your cash in your neteller account and don't transfer a lot in and out of your Canadian bank account, this will minimize the number of times you get dinged.