In this NETELLER VIP vs skrill VIP post, you will be able to identify which VIP payment method you will better for you.
E-wallet or digital wallet is an electronic device that allows users to make electronic transactions. With e-wallet you can be able to store multiple bank account numbers in a secure environment, eliminating the hassle of entering your account details when making your payment. Once you have signed up and created your E-Wallet details, you can make payments faster and with less typing.
Popularity Among Different Markets
Among the e-wallet types on the web NETELLER and Skrill tops the list when it comes to online payment for casinos, forex trading, betting, poker, binary options and few other e-commerce merchants.
If you are a user of e-wallet and you make transactions that are above average on the web, then you must have noticed that those little transaction fees accumulate and amount to something substantial. With that in mind most e-wallet providers offer premium accounts for highly active users. This type of accounts help qualified users to save some costs from their huge deposits and withdrawals. Not only that there are other benefits from the e-wallet VIP accounts for customers.
NETELLER and Skrill are two giant e-wallet providers that also offer VIP accounts to their customers.
This article will review the NETELLER VIP and skrill VIP features of both payment providers.
You may have learnt that there was a merger of the two e-wallets providers and that NETELLER and Skrill are now owned and operated by the same company, and with that knowledge you have the impression that their VIP programs are the same. But, are they? If they are not, which is better?
Let’s look at both programs individually.
NETELLER VIP Program
The NETELLER VIP program comes in different levels and each level is determined by the volume of transfers you make to merchants in a one year period. There are five NETELLER VIP levels. The first level which is the lowest level is the Bronze level, for which you are required to make a transfer to the volume of $10,000 annually to qualify. The second, silver level require an annual transfer of $50,000 to qualify, the third is Gold, $100,000, Platinum $500,000 and Diamond $2,000,000 or more.
Each level has its benefit packages for the qualified users.
The table below explains each level one by one.
|Bronze ($10K)||Silver (50K)||Gold ($100K)||Platinum ($500K)||Diamond ($2m)|
|Yearly VIP Points||1,000||9,000||10,000||20,000||50,000|
|ATM Fee||1.75%||1.75%||Flat 4 €||Flat 4 €||Flat 4 €|
|Send Money Free||1% capped with $10||1% capped with $10||1% capped with $2||1% capped with $2||1% capped with $2|
|Extra Currency Accounts||―||1||2||3||3|
|Flexible Transaction Limits||No||No||Yes||Yes||Yes|
|Dedicated Account Manager||No||No||Yes||Yes||Yes|
|Next Day Payouts||No||No||Yes||Yes||Yes|
From the above table you can see that there are remarkable differences between each level. There are reward points that can be cashed in, there is a lower foreign fees at each level, more discounts for deposits and withdrawal, dedicated account managers and next day payouts. All these can really save you some costs in the long run.
Skrill VIP Program
Just like NETELLER, reaching VIP level is dependent on the volume of transfers made by a customer to merchants like casinos, forex trading, poker sites, betting, stocks, binary options etc.
However, unlike NETELLER, Skrill has only four levels and volume of transfers to qualify for a VIP level is calculated quarterly.
The four levels in Skrill includes, Bronze, Silver, Gold and Diamond levels.
For the first level Bronze, a transfer volume of 6,000 Euro/quarter is required, the second level Silver is 15,000 Euro/quarter, the third Gold is 45,000 Euro/quarter, and the highest level Diamond require a transfer volume of 90,000 Euro/qaurter of a year. It is apparent that Skrill VIP is easier to achieve than NETELLER’s. But, does that also entail more and better benefits?
Below is a table showing the various Skrill VIP levels and benefits from each level.
|Bronze (6k € per quarter)||Silver (15k € per quarter)||Gold (45k € per quarter)||Diamond (90k € per quarter)|
|VIP account manager||No||No||Yes||Yes|
|Priority bank uploads||No||Yes||Yes||Yes|
|Dedicated 24/7 Support||Yes||Yes||Yes||Yes|
|ATM fees||180 €||Free||Free||Free|
|Send money free||1% with 10 € cap||1% with 2 € cap||1% with 2 € cap||1% with 2 € cap|
|Free card upload||1.25%||Free||Free||Free|
|Bank withdrawal fee||5.50 €||Free||Free||Free|
From the table you can see that rewards in Skrill VIP level are very competitive with what is obtainable at NETELLER and, achieving higher levels seems easier, requiring much less cash flow through the user’s account. However, choosing one e-wallet against the other actually depends on what you are looking for as one who does deposits and withdrawals online.
A quick rundown of what each VIP account offers better than the other will be of much help in your making a choice.
Benefits from NETELLER VIP program.
- Offers rewards points. These quickly add up and can be traded in for cash later.
- Offers next day payouts. These are handy if you need cash quickly.
- Offers guaranteed limit increases as you climb through the ranks of the program.
- Offers lower foreign exchange rates at its highest level. On the flip side, you need to transact a lot more to reach that level
Benefits from Skrill VIP program.
- Lower barriers to entry. You can climb the levels faster and by transacting less. You will be at the diamond level before you reach NETELLER’s gold level.
- Offers free banking withdrawal fees.
- Offers personal account manager at a lower level than NETELLER.
- Offers ATM withdrawals without any fee once silver level is reached.
For you to make a decision on which program to choose, you need to consider your country of operation and which account features are available for you to make use of, for example some countries do not use ATM to withdraw their funds from either Skrill or NETELLER or both.
Another consideration should be individual’s circumstances, example the increases in limits, discounts, next day payouts with NETELLER may be very much welcomed if you deposit and withdraw huge amounts and need to quickly access your cash, whereas the free ATM withdrawals offered by Skrill will suit you the best if you are a fan of ATM withdrawals.
Whichever option you take, it will be prudent for you to acknowledge that you need to be one who make huge cash transactions before you even qualify for either of the two programs. And, if you are, then you need to study them carefully, because it’s those little deposits/withdrawal, foreign exchange, and ATM withdrawals fees that eats deep into your wallet in the long run.