Neteller serves as a digital wallet and an e-money transfer service that lets users send and receive money, pay online, access prepaid card services, and make secure, fast online payments anytime and anywhere. The service is owned by PaySafe Group, which is the same UK-based company that owns its competitor, Skrill.
Neteller is accepted as a funding method by a fairly large number of forex & CFD brokers that offer stock trading, among many other instruments. More broadly, the service is currently in use by over 10,000 online merchants globally. Compared to traditional international bank wire transfers, Neteller transactions are faster and comes with lower fees.