How much is the fee if I (us resident) make a p2p transfer to someone residing in Germany? The neteller site says it is 1.9%. Does that include the currency exchange fee also? Or do I have to pay the 1.9% p2p transfer fee AND the currency exchange fee?
Went thru the motions of a fake EFT (didn't confirm at final stage) to show you what the exchange process looks like:
From:
NETELLER Account
To:
THE XXXXXXXXXX BANK - XXXXXX
Amount:
$100.00 USD
Amount To Bank Account:
$115.96 CAD
Exchange Rate Applied: 1.15960000*
* This display is limited to 9 digits
The exchange rate NETELLER applies is an average daily inter-bank market rate published by a third party foreign currency data provider plus 1.9%. NETELLER retains the 1.9% amount as a foreign exchange processing fee.
From:
NETELLER Account
To:
THE XXXXXXXXXX BANK - XXXXXX
Amount:
$100.00 USD
Amount To Bank Account:
$115.96 CAD
Exchange Rate Applied: 1.15960000*
* This display is limited to 9 digits
The exchange rate NETELLER applies is an average daily inter-bank market rate published by a third party foreign currency data provider plus 1.9%. NETELLER retains the 1.9% amount as a foreign exchange processing fee.
If I sent money to Canadian Neteller user after fees and exchange rates are factored in how much would he end with for each $100 transferred. I need to know this to figure out how much I would receive. This would be after he had the money transferred into his checking account and he then converted back into US dollars and sent me a certified check.
It depends on the exchange rate, Jack. In my test example above, $100 (after the 1.9% transfer fee) would net you $115.96 CAD. What price you will be charged to convert back from CAD to USD depends on the person's bank and rate offered at that moment.
