How will NETELLER high fees affect affiliates?

Watch out! Neteller is updating its Terms of Use and introducing stricter measures for false accounts.

NETELLER has announced that it will make some changes to the Terms of Use, which govern the relationship between Neteller and its users. The updated terms will come into effect in two months from now, on January 15, 2020.

You can review the full updated version of Neteller's Term of Use already today. 

In this article, we take a look at the changes that will result from the updated version of the Neteller's Terms of Use. The new version will bring significant changes to two segments: administration fees and third-party providers. 

ADMINISTRATION FEES

The new terms of use provide clarity about the way Neteller will be charging administrative fees. We have made a table of costs that you can expect if you breach the relationship with Neteller. 

• Providing inaccurate or untruthful information or even a lack of cooperation can cost you up to 150 USD after January 15, 2020. According to section 4.1.3 of the updated Terms of Use, Neteller can sanction your account, if you do not provide accurate information during the sign-up process or anytime during the use of a Neteller account. 
• Further, if you execute an upload or withdrawal to a payment instrument that is not yours, you can face a fee of 10 USD per upload or withdrawal from your Neteller account. Section 6.2.4 defines that users must not make uploads or withdrawals to a payment method or bank account if you are not the named account holder. Neteller will treat violations of this requirement as fraudulent acts. "Without prejudice to claiming further damages, if we are required to: (i) return Upload funds from a payment instrument or bank account that is not in your name; or (ii) investigate a withdrawal to payment instrument or bank account that is not in your name, we may charge an administration fee."
• Neteller will also charge up to 25 USD for every reversal attempt in case of incorrect transaction. Therefore, always double-check that the payment details are correct. Neteller will not be liable for sending your funds to the wrong account due to incorrect receiver information. When withdrawing to a bank account, you must ensure that the account number, sort code, IBAN, and/or BIC/SWIFT are correct.
• According to the new Terms of Use section 6.5.13,  you may request that Neteller's assistance, if you have withdrawaled fund to a wrong account. But, Neteller will charge you an administration fee.
• Neteller restricts the right to chargeback when you upload by credit or debit card or direct debit. By using Neteller, you have to declare not to exercise chargeback other than for unauthorized use of the payment method or for a breach by Netellerof the Terms of Use. In other cases, such as disputes with merchants for non-delivery of goods or services or insufficient balance on the payment method account, you may not charge back any upload transaction. In Section 10 of the terms of Use, Neteller reserves the right to charge fees and expenses in connection with any chargeback case. 
• Neteller will charge the Prohibited transaction fee for transactions that violate the agreement, such as sending and receiving payment for the tobacco industry, weapons, material which incites violence, hatred, racism, and others under section 14.1 of the Terms. 

THIRD-PARTY PROVIDERS

Neteller will also update the terms which govern how Thirds Party Providers access your account. In this regard, Neteller will: 

• Treat any instruction from a Third Party Provider as if it were from the Neteller account holder, and the terms of this agreement will still apply. 
• If Neteller account holders give a Third Party Provider access to their account information, Neteller will assume that account holder consents to access being granted as frequently as the Third Party Provider requests it 
• If Neteller account holder gives security details to a third party that is not a Third Party Provider, Neteller will treat payments instructed by that third party as authorized by Neteller account holder 
• May refuse a Third Party Provider access to your account if concerned about unauthorized or fraudulent access. 

What do new changes mean for Neteller affiliates? 

Neteller affiliates should be aware of the new Neteller administration fees and stricter measures against the accounts that raise doubt about the authenticity of the account holder. Neteller's move to introduce an administration fee for the provision of inaccurate or untruthful information aims to penalize accounts that are sold to third parties or were created under false identities. 

If you have further questions on how are these measures to affect your affiliate network and clients, turn to Paynura via live chat or email. Our customer support team will provide answers for any query you might have regarding the updated version of Neteller's Terms of Use. 

Paynura is dedicated to providing the best possible support and service to Skrill and Neteller affiliates.