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How to withdraw money from Neteller in India?

There are many ways to deposit your fund in Neteller but when it comes to withdrawing money, it has the only option which is the bank transfer. Here I am going to show you how can you withdraw money from Neteller in India through your bank account but make sure you have verified your Neteller account fully. Otherwise, don’t proceed with withdrawal.

 

 

Things required for bank withdrawal

  • recent bank statement
  • bank IFSC CODE
  • Bank SWIFT code

Before going to apply for a bank withdrawal you have to ensure that you have the bank IFSC code, swift code. and a recent bank statement. Sometimes people have the problem finding out there branch Swift code. SWIFT code is necessary for international transactions. Especially when you receive or sending money to overseas.

If you can not find your branch Swift code then use the swift code of your nearest branch from the same bank. If you still have the problem in finding the swift code then use the swift code of the main branch. Suppose you are staying in a city where one swift code is available for your bank then use that code.

 

Don’t be confused. The work of swift code is to convert the international currency into Indian rupees and send to your local branch where your Ifsc code is located.  Your main branch swift code will do that work. That’s why you should not be stressed while using the swift code of the main branch.

 

How to withdraw fund from Neteller to your bank account

Here is the step by step guide to withdraw your money from Neteller to your bank account. Before going to proceed just log into your Neteller account. Then follow the steps below.

Step 1- click on “money out” option in your account dashboard

 

step 2- Once you click on continue, you will see a page like below. Under money out click on continue.

 

step 3- Next, it will ask to fill up your bank accounts, currency, city, country, Ifsc code, Swift code and your full name. Now you can fill up all your details and click on continue.

 

step 4- Once you click on continue, then another page will be opened where you can review your bank account details and other information to make sure that all the data you have given is correct. Then click on confirm.

Step 5- Next it will ask to upload a bank statement. Now you can upload a recent bank statement and click on continue.

 

 

step 5- Once you click on continue, one page will be opened where you have to type the amount and then click on review details. You have to type an amount greater than 4745.  Because that is their minimum amount of withdrawal.

 

Step 6- Next, you have to see or review your payment details and click on withdraw money. Neteller will deduct 550 rupees as a transaction fee and will send rest of the amount to your bank account. But your bank may deduct some amount as foreign exchange fee. Fx fee may vary bank to bank. 500rs will be charged below 500 USD 1000 rs will be charged above 500USD.

 

 

 

Once you click withdraw money, they will review it and will process the payment. it may take 4 to 5 business days money to be credited to your account. Business days do not include Saturday, Sunday or any public holidays. This is how you can withdraw money from Neteller to your bank account. If you have still questions then comment below or contact me.

 

33 thoughts on “How to withdraw money from Neteller in India?

    1. if the source of your withdrawal is from betting or gambling site then it might be at risk to withdraw from Neteller to the bank account as all gambling money is illegal in India. In this case, you can contact me.

        1. Then no problem. But you have to worried about their withdrawal charges. Neteller charges 550 rs for each withdrawal no matter the amount you are going to withdraw. Apart from that, they will charge the foreign exchange fee.

          1. Fees is not a problem for me, suppose I withdraw $1000 from Neteller to SBI bank account, then i have to pay tax on that amount i received in bank?

            thanks for your response

  1. I have an account in Neteller and the amount in credit is against casino online games . But I am getting trouble in withdrawal to my hdfc bank a/c through visa. But eveeytime transaction is declined. Kindly help. As it a grambling money, is there any restriction in reveiving the money besides paying the Income Tax ? Kindly help and advixe .

    1. Gambling transactions are illegal in India for funding or withdrawing. That is the reason transactions are declined. But withdrawal will be successful. But there is risky if the bank people monitored your account they might freeze your fund if the source of the transaction is gambling.

      1. How will the bank come to know the source of money? Neteller will be the source and ideally neteller will not disclose the source of money.. please advise on this..

        1. Neteller is not the source. It’s the payment gateway. Source is the merchant site where your money has been withdrawn.

          1. I won some money some through bet365 and I withdraw back to skrill,now I when I try to transfer to my bank I am not able to as skrill says in reply transaction failed ,How do I withdraw now?

    2. Even i have same problem…can you please advice me how to deposit and and withdraw from neteller to my hdfc account..and its for gambling

    1. If you are asking about the betting site then yes it is illegal in India. But there is no specific law to deal with this cases.

  2. Sir is it compulsory to withdrawal in my bank account only from nettler, can I withdrawal in my brother’s bank account.

  3. I want to withdaw an amount of 2Laks….is it ok if i withdraw it in a single transaction or multiple transactions??

    and…how many days it takes to processed??

    Is it safe or any legal probs…??

    Please help??

    1. Yes you can withdraw but make sure source is not gambling or trading.

      It may take 5 to 6 business days money to be credited to your bank account. All saturday and sundays or any public holidays does not count

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