Neteller

NETELLER is an e-money/e-wallet service owned and operated by publicly traded British global payments company Paysafe Group Plc. People in over 200 countries use the NETELLER service to transfer money to and from merchants, such as forex trading firms, social networks, or online gambling firms, and can withdraw funds directly using the Net+ card or transfer the balance to their own bank accounts.

Creation and regulation

NETELLER was created in 1999 in Canada and moved to the Isle of Man in 2004. The operation of the NETELLER service has an e-money record with the UK government’s Financial Conduct Authority (FCA). Paysafe Group Plc is listed as an "Authorised Electronic Money Institution".

In 2015, Optimal Payments Plc (now Paysafe Group Plc) finalized a transformational transaction for the global payments industry – the acquisition of Skrill Group, one of Europe’s largest online payments systems and among the world’s largest independent digital wallet providers.

NETELLER is not a bank and does not lend customers' funds. It is required under FCA e-money regulations to maintain customer funds in separate trust accounts, separate from its operating cash, sufficient to repay all customer balances at the same time.