Local bank withdrawal

What is the local bank withdrawal?

The local bank withdrawal is a withdrawal option that allows customers from the countries listed below to easily withdraw funds to their bank account:

  • Brazil
  • Chile
  • Mexico
  • Colombia
  • Peru
  • Argentina
  • Uruguay

 

How to withdraw funds to my bank account?

To initiate a withdrawal to your bank account, you will need to:

  1. Click on Money Out section located on the left side of your NETELLER account.
  2. Within the Bank withdrawal section, click on Continue.
  3. Fill up your bank account and personal information and click on Continue. *
  4. A page with your bank account information will appear. You can edit it or continue with the withdrawal by clicking on Confirm. **
  5. Enter the amount you want to withdraw, click on the check box and then on Review details.
  6. A page with your withdrawal information will appear. In order to finalize the withdrawal, click on Withdraw now.

* If you have previously used the international bank wire withdrawal option and you have a registered bank account, you will need to deactivate it and provide your local bank details to process your withdrawal request. An option to deactivate your existing bank account will be displayed at this step.

** The details of your local bank account will be stored after successfully completing a withdrawal and will not need to enter your bank details again (steps 2, 3 and 4).

 

What are the fees and limits of the local bank withdrawal?

The best place to check your withdrawal limits is the Money Out section of your account. By clicking on Money Out, on the right side of the page you can see the withdrawal limits available for your account.

Once an unverified member has reached their withdrawal limit, they will need to verify their account in order to continue using the service.

All limits are based on rolling periods.

The processing fee for a withdrawal is 3.99% of the withdrawal amount.

The withdrawal is proceeded in the local currency.

If the currency of the withdrawal is different than your account currency, an additional 3.99% Foreign Exchange fee will be applied.

 

How long does it take to receive my funds in my bank account?

The processing time frame for a local bank withdrawal is up 5 business days.