I regret to say that many people are yet to grasp the usefulness of Neteller. They’re attracted to anonymous and unregulated e-currencies because they’re great for criminal activities. People can open accounts with them using fake names, addresses, etc.

People obviously have forgotten to learn from the past.

As per Neteller, I often marvel at the usefulness of this e-currency, which many people are yet to understand.

Neteller is an electronic currency for online payments (e-currencies are exchanged on computers). Money in a Neteller account can be used to pay merchants, sent to other customers of the service, or spent at any retailer that accepts MasterCard® using the Neteller prepaid card that is a part of the account. People in over 200 countries use the Neteller service to transfer money to and from merchants, such as financial institutions, social networks, or online betting firms, and can withdraw funds directly using the Net+ card or transfer the balance to their own bank accounts. You can receive salaries and payments for services in Neteller. You can use your local currency to buy Neteller for your account or change Neteller in your account to your local currency or transfer it directly to your bank account.

Yes you can sell it if your account is denominated in other currency apart from USD. The remittance would get to the recipient’s USD account automatically. When you buy it, you are funded in a world currency, and Neteller will settle you in your account denomination automatically. But a conversion fee of 3.99% will be applied by Neteller. Please note this. You can also have your Neteller in Nigerian Naira (NGN) and use it to receive any currency and send to any currency.

As you can see, someone once sent some funds to an account denominated in Australian dollars. If you want dollars, euro, pound sterling, yen, naira and so on. You can open a Neteller account in that denomination and have it funded by an exchanger which would send dollars to it and have it converted automatically for you.

One good thing about it is that, the fund can then be withdrawn by you to your domiciliary account here in Nigeria or to your debit Net-Card, given to you by Neteller. You can use it anywhere in the world and for anybody in the world.

A Great Example
When it comes to Naira, someone received some Euros from Europe into her Neteller NGN account, and saw that it has been changed to 36,000 NGN. She sent it to an exchanger who saw 108 USD in his wallet. The woman was quickly paid a sum of 40,200 NGN for the sale.

As you can see, the woman has made additional 4,200 NGN from her simple action, since Neteller uses official conversion rates.

A word is enough for the wise…