UK - Requesting Banking/Depositing Advice

[Ro-me-ro]

[ QUOTE ]
I assume that Neteller deducts 1.9% from the amount being transferred as its fee and then converts the remaining USD to GBP which is then transferred to my bank.

I wonder if any additional "commission" is applied during the currency conversion in addition to Netellers 1.9% fee.

[/ QUOTE ]

No they don't. It's a hidden fee in the exchange rate. Visit some official exchange rate site and take the rate less a 1.9% difference. It's the same as your credit card company when you buy into a poker site -- they might charge a hidden commission fee of say 2.25% which would make dDiabolical's play of buying via debit card at poker sites -ev [img]/images/graemlins/smile.gif[/img]

But really the best place to see this is at NETeller. Go open up your USD account and try out a few transactions (you don't have to complete them) - you can specify a internet banking deposit and they will send you the details that you need to provide to your bank to deposit into their account. To withdraw to your bank account you need to verify your bank account (they send you a micro deposit which you have to enter to confirm the account). The fee for withdrawing to your bank account is £1 in addition to the "hidden" 1.9% commission charge.

Rom

[excession]

'To withdraw to your bank account you need to verify your bank account'

Actually I withdrew the $2400 without having to verify

[Ro-me-ro]

April... back in the day when the process of withdrawing via NETeller to bank account was not automated [img]/images/graemlins/smile.gif[/img]