Neteller is an online e-wallet service that competes with companies like Skrill and PayPal. These companies all offer similar services, although Skrill and Neteller are far more commonly accepted among both binary options brokers and other types of brokers. Neteller is owned by the British publicly traded company Paysafe Group Limited, which is also the parent company of Skrill.
Compared to traditional international bank transfers, online services like Neteller often offer far cheaper and faster payments. However, in cases involving currency conversions, it is worth noting that Neteller charges a 3.99% mark-up on the real interbank exchange rate. This may be higher than what is otherwise charged by credit card companies like Visa and MasterCard.