NETELLER and Skrill P2P fee update OCTOBER 2019. What has changed? Are you affected?
October 10th 2019
PaySafe (P2P) transfer fee update (10th October)
From Thursday 10th October, NETELLER/Skrill will implement yet another change to their fees for P2P (peer-to-peer) transfers.
There have been numerous changes to the money transfer fee structure for both Skrill and NETELLER over the last few months, which has been as confusing and frustrating for us to follow as it has for most of our clients and partners!
However, you can refer to this article as the definitive up-to-date guide to P2P fees.
P2P transfers are also referred to as Send Money Fee or Money Transfer Fee
The information below is valid for all countries and all new Skrill/NETELLER accounts registered from 10th October onwards.
The biggest news is that NETELLER/Skrill have introduced a new ‘First P2P Transfer’ fee of 20% with a minimum first fee of €30/$30 for all countries.
This means that even if your first P2P transfer is only €1/$1 you will still have to pay a fee of €30/$30.
Essentially you could look upon this new fee structure as like a one-off fee of €30/$30 to enable you to make P2P transfers because there is no way to avoid this paying this 20% fee unless you meet any of the following criteria:
You make an upload to your account (excluding Skrill/NETELLER, BitPay, PaySafeCard or P2P uploads)
You achieve SILVER VIP level or higher
Please note that all changes for accounts registered before 10th October will remain the same.
Therefore, if you registered during the period where your fees were either of the below, then your fee structure will remain the same.
5% for the lifetime of your account
5.25% for your first transfer followed by reduction to 1.45%
Clearly, whilst this is going to be unfortunate news for most of our partners and some of our clients, it will be an improvement for clients who are from the countries previously subjected to the 5% lifetime fee since after you take the hit of the first 20% your fees will be reduced to 1.45%.
NETELLER & Skrill P2P Fee's
Effective 10th October 2019
SILVER VIP +
SILVER VIP +
There is, however, some good news that only eWalletBooster customers can take advantage of:
FREE Bronze Pro VIP upgrade
Fast-track to SILVER VIP status with $7,500 transfers
How can you avoid paying the transfer fees?
If you deposit money into your NETELLER account from an alternative source such as bank account, debit/credit card (excluding Skrill/NETELLER, BitPay, PaySafeCard or P2P uploads) then the 20% first transfer fee will not apply. Instead it will be 1.45%.
If you reach SILVER VIP status by doing eligible transactions (transfers to merchants / buying cryptocurrency) then your fees for P2P will be FREE
All SILVER VIP’s receive the benefit of FREE money transfers so you can send money P2P from your NETELLER account to another for nothing!
As always, please fee free to contact the eWalletBooster team via live chat for any further clarifications.
Application Form for Neteller VIP Upgrade & Cashback