Neteller vs. FirePay

[richrf]

I initiated an EFT using Neteller on the 10th and Neteller had it on the 11th. As of today, they have still not released the money into my account. I realize that they do this in order to get the additional float on the money as well as incentify people to use their InstaCash, since InstaCash really isn't necessary because they actually receive the money in one day).

I have a FirePay account and I was wondering if anyone has had better EFT experiences with FirePay. If not, I can live with Neteller - but they'll never get InstaCash from me, because I hate shams. On the other hand, I do use credit cards so who am I to beef. [img]/images/graemlins/blush.gif[/img]

[emonrad87]

Try here.

[richrf]

I already did a search and none seemed to address specifically the speed of deposits of Neteller vs. Firepay. If someone recalls a specific thread, I would appreciate the link. I guess if I have to, I'll just try a deposit using FirePay. That is one way to find out for sure.

[csuf_gambler]

firepay > neteller

i have used firepay ever since i started online poker.i have never had a single problem with them. they have never did me wrong. firepay is the best.

[StacysMom]

i havent used firepay since they charge u to add money to ur account, i have only used neteller and been rather pleased

[richrf]

Thanks. Have you ever tried an EFT transfer from a bank to the FirePay account. If so, how long did it take? I know that both Neteller and FirePay get the money in one day, so I am hoping that FirePay has a more customer-friendly release schedule. But I also seem to recollect that FirePay charges for the service while Neterll does not. But right now, I am most interested in the turn-around time. Thanks for any info.

[AngryCola]

Watch as I actually try to help you.

I'm confused. Where is the deposit headed? Your bank account?

[richrf]

lol. Let's see if you can.

No, I am moving money from my bank account to Neteller via an EFT. I know that it takes only a day, but to verify I chacked when the transfer was made on my online accounts, and indeed Neteller had it on the 11th (the transaction was initiated on the 10th).

Now I realize that Neteller has to make money, so if they want to hold onto the money for 7 days (they keep it over the weekend), that is the cost of the transaction. I could short-circuit thie by paying the InstaCash fee, but I think the fee is way to high at a whopping 9%(credit card companies usually charge somewhere around 1 to 1.5 % by way of comparison for a cash transaction), so this fee would border on the amount that someone would pay to a loanshark.

Given this, it would seem that FirePay's rates are far more competive at $2/transaction (if I read the terms correctly), which would mean that on a $100 transfer the fee is only 2% and on a $500 transaction .04%. This is much cheaper than Neteller.

So the question is, how fast are the FirePay's transactions and of course how secure.

Thanks for any additional information.

[AngryCola]

You can't go wrong with Firepay, but as you've noticed, they do charge you where neteller doesn't.

I'm still a little confused, but I think I get the picture.

You deposited money into neteller.

Now you have checked (through your bank or whatever) to see if Neteller has taken your money.

They have.

But when you log in to Neteller you don't see the money.

Am I following you right?
I hope so.

A couple of things...
Has the bank account you used to deposit the money been verified by neteller? I can't remember if you have to be verified to make simple deposits. But that's something to think about if you haven't verified the account.

Usually Neteller is faster than what you are describing.
Without a doubt you need to call them to see whats up.
You shouldn't let this worry you though. Often times the first few Neteller transactions can be a little bumpy.
Their support is always very helpful and I've never heard of any unresolved issues with them.

So, I guess what I'm saying is that your current situation isn't the norm. EFT deposits usually only take a couple days (3 at most) to show up in your Neteller account. Btw, some poker sites pay the insta-cash fee for you, and some don't.

But I never feel the need to use insta-cash because of how fast Neteller usually is for me.

Bottom line -
Call them, and they should take care of you quickly.

If you have any problems with them again, go with Firepay. They are reputable and some people do prefer their service.

[csuf_gambler]

transfers from your bank to firepay account are instantouious. they charge a flat $3.99 fee for this. however, transers from your firepay account to your bank are FREE. this takes about 2 days.