in Money Transfer Services from Paysafe GroupUnaffiliated
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Paysafe Group is a technology company that provides digital payment processing services for a global audience. In addition to offering end-to-end payment solutions for businesses, Paysafe Group offers digital wallet services through the company's brands Skrill and NETELLER.
What Are Paysafe Group’s Transfer Fees?
Paysafe’s brands Skrill and NETELLER have similar transfer fees.
- Domestic transfers for both brands have a 1.9% fee, which is capped at $20.
- International transfers for both brands have an additional 3.99% fee when currency conversion is required.
How Fast Are Paysafe Group's Transfers?
With the Paysafe brands Skrill and NETELLER, transferring funds from your digital wallet to your recipient’s digital wallet happens instantly. If your recipient does not already have a digital wallet, the recipient will receive an email to create an account.
- Received funds can be used right away if the recipient is making digital wallet payments.
- Received funds that are withdrawn using a bank account may become available within two to five days.
Paysafe Group's Backstory
Paysafe Group was founded in 1996 and is based in the Isle of Man. The financial services company operates in more than 200 countries and territories while transacting in 40 currencies. Paysafe processes over $17 billion in transactions annually and works with 50,000 merchant processing accounts. The company has an A+ rating from the BBB.
Who Can Benefit From Paysafe Group?
As a global corporation, Paysafe Group offers a wide-variety of payment processing solutions to merchants. Of course, individuals can also take advantage of the company’s services through the brands Skrill and NETELLER, which offer digital wallets that make shopping easy. With these brands, money transfers to friends and family aren’t free, but if your recipient uses one of these digital wallets as his or her go-to account, you may still find it most convenient to use such services when sending money.
What Are The Advantages and Disadvantages Of Paysafe Group?
This is what we love about Paysafe Group:
- Paysafe Group offers financial solutions to both consumers and businesses.
- Domestic and international transfers can be made.
- You can send money to an email address without knowing someone’s banking information.
- You can keep a balance in your digital wallet and use it to shop at participating retailers.
What We do not Like About Paysafe Group:
- Some competitors offer cheaper money transfer options.
- Both Skrill and NETELLER charge a fee for inactivity. With Skrill, after 12 months of inactivity, a monthly fee of $2.99 is deducted from your account. WIth NETELLER, after 14 months of inactivity, an annual fee of $30 is deducted from your account.