Neteller Clients in Bangladesh Lose Access to Their Accounts Without Notice


Recently, NETELLER is closing accounts of clients in Bangladesh without any prior notice. Bangladeshi users are now worried about their investment due to their sudden account closure.

24 August 2020 | AtoZ Markets – NETELLER is one of the largest e-money transfer service providers in the world, processing over $1 billion in transactions each year. It is owned and operated by UK global payments company Paysafe Group which is regulated by UK FCA. The company has several branch offices in Canada, New York, London, Mauritius, and the Isle of Man.

Neteller Permanently Closed Accounts of Bangladeshi Clients Without Strong Reasons

Due to the massive account closure of Bangladeshi clients, users are raising their voices against NETELLER. They are claiming that NETELLER disabled and closed their 100% verified account without giving a legitimate reason and prior notice. NETELLER hasn’t given proper instruction to enable or process funds by any other payment method. NETELLER recently stated regarding this matter:

“We reserve the right to terminate the Terms of Use and close your account. We may, at our discretion, suspend or limit access to your Account, If you breach any of these Terms of Use; if we have reasonable grounds to believe that your account has been used in connection with a Prohibited Transaction; at any time we determine that you have provided us with any false, inaccurate, incomplete or misleading information; if we believe your Account or Card has been used or allegedly used, or maybe used, in, or to facilitate, any fraud, financial-crime related activity or any other illegal activity.”

Neteller Account Permanently Closed

Neteller Closes Accounts of Clients

Some user claims that NETELLER is cutting their full or half fund from closed accounts as Administration fee. However, under the NETELLER Account Terms of Use, the fee for the provision of inaccurate or untruthful information or lack of cooperation (s. 4.1.3) is up to USD 150. The prohibited transaction fee (s. 14.6) is up to USD 150 per transaction.

Additionally, despite providing all legitimate documents again for unblocking the account, NETELLER is refusing to go into any settlement and refund the money by any means. As a result, users in Bangladesh are complaining in various review sites, apps stores, social media, and even to UK FCA, regarding this matter. Thousands of people have shared negative reviews against Neteller on various websites within 24 hours. This has already started to impact the reputation of the payment system. Additionally, it may also drive the organization into certain legal problems if they do not come into a proper settlement with a good explanation.

NETELLER Users in Bangladesh Facing Various Issues Due to Sudden Account Closure 

NETELLER is the most popular gateway for getting freelance payments, donating, investing, or transferring money among Bangladeshi people. However, Bangladeshi users always face various issues with international payments as they do not have the opportunity to make transactions directly from local banks.

On the other hand, due to regulations, the trading brokers can only allow withdrawing funds in the account which investors used for the deposit. So, Bangladeshi traders are now quite concerned about their investment due to their account closure.

As we all know that if NETELLER permanently closed (terminated) hundreds of accounts, and showing no signs to come into any settlement. This decision seems final as per their reply, and NETELLER will not allow to re-open the account or to open another account with them. As per the current scenario, the best solution for Bangladeshi users is to get back the money of the account through other payment methods without any kind of deduction on funds.

This guest submission was written by MD Rockybul Hasan from Bangladesh. AtoZMarkets.com does not carry any responsibility for the accuracy of the information hereby.

Have you been impacted by Neteller? Share your comments with us below.

  1. Joy Pramanik says:

    neteller is scam with me .they are close my account without any reason and also they are dont refund me .I hate paysafe

  2. Sheema says:

    neteller is scam

  3. Barun says:

    I think FCA should take action against Neteller for this scam. They proved them as great money smugler.

  4. NURE ALAM says:

    I have expectations. Neteller so that Bangladesh conducts its activities properly.

  5. Turja Halder says:

    My account was fully verified. After verification, I had transferred money from my account. Without any notice NETELLER team permanently closed my verified account. When I ask the reason, they didn’t show me any reason for closing my account. It was really bad behavior from NETELLER support. If there was any problem with my account, they should have noticed me. NETELLER is the most popular gateway for getting freelance payments, donating, investing, or transferring money among Bangladeshi people. But now it’s behaving like it’s a SCAM.

  6. Nurul huda says:

    Hey Mr. MD Rockybul Hasan,
    Thanks for the Details. we are facing the problem in Bangladesh. we cant access our account. neteller permanently close our account without any clear issue. even neteller did not refund my initial Balance. this is really bad behavior by the neteller side. neteller doing something wrong with Bangladeshi people. we need a proper solution.

  7. Md Shagor says:

    Netteller now totally scam.. we want our funds back!!!

  8. Rahi says:

    The new restriction I’m referring to is affecting clients from Bangladesh. “Multiple account usage is not allowed and therefore customers may face restrictions if they share credentials between each other.”
    Such accounts (that shares credentials/devices/ IPs) may face restrictions/ direct termination after withdrawal of balance.
    Customers/ networks that work together and operate with more than 5 IP / device mates will face such consequences.

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