Neteller

Neteller is a very popular online banking method in the online gambling industry. This e-wallet is easy to use, relatively cheap and extremely convenient. It lets casino fans avoid giving out their financial details to operators and make instant money transactions. Thanks...

Neteller is a very popular online banking method in the online gambling industry. This e-wallet is easy to use, relatively cheap and extremely convenient. It lets casino fans avoid giving out their financial details to operators and make instant money transactions. Thanks to its numerous advantages, Neteller has been quickly recognized and embraced by thousands of online gamblers around the world.

History of Neteller

Neteller was founded back in 1999 and it is operated by Paysafe Group Plc. The brand’s objective was to provide an alternative payment method to online shoppers and gamblers; unsurprisingly, it quickly managed to achieve this goal and become widely popular among both target groups.

Currently, Neteller services millions of accounts of customers from more than 200 countries. Even though the provider originates from Canada, where it started its operations, in 2004 it moved the headquarters to the Isle of Man and remained there ever since. Nevertheless, the company also holds registered offices in the UK, Canada and USA as well. Over the years, the company has been reporting incredible results; for example, in 2014 it boasted with a massive revenue of 89.6 million USD.

In terms of online gambling, the e-wallet is largely favoured among US gamblers and in 2000 95% of the company’s revenue came from funds transferred to online gambling companies. In 2015, the founding company Optimal Payment Plc took over Neteller’s biggest rival regarding online casino money transfers Skrill and transitioned to the current Paysafe Group Plc.

How Does Neteller for Casinos Work?

Using Neteller at online casinos is pretty much the same as using any other e-wallet. For a player to make a deposit, it is necessary to first visit the cashier and select Neteller as their preferred payment method. Often, doing this comes with a special preferred payment method bonus between 10-20%, since certain casinos prefer when customers make e-wallet transactions.

Anyway, once Neteller is chosen as a deposit method, the user is asked to fill out a form that often requires only a few details. Most commonly asked information includes the Neteller username as well as the Neteller password. Additionally, the player must set the amount they wish to transfer before clicking the “proceed” button. Once all of this is done, the money should be transferred into the casino account within minutes; often, these transactions are free of charge.

When it comes to cashing out, the process is fairly similar. This step also requires visiting the cashier and then choosing to make a withdrawal. If you have already used Neteller as a deposit method, then it will be probably preselected as a withdrawal option too. At this point, all you have to do is select the amount you want to transfer from your casino account and to your Neteller account. Some casinos have different banking policies and thus the withdrawal processing time may vary from instant to 48 hours.

It should be noted that online casinos always have certain deposit and withdrawal limits. These limits, in fact, tell customers the lowest and highest amount of cash that can be uploaded or withdrawn. Therefore, all Neteller transactions must be within these limits; otherwise, the transactions will not be approved.

Why Use Neteller When Depositing at Online Casinos?

The range of banking methods at online gambling destinations is quite good. However, among all those credit cards, debit cards and even other e-wallets, there are still lots of reasons why players should stick to Neteller when depositing at online casinos.

Bellow, you can find an overview of the pros and cons, fees, security and support; all these make it clear why this digital wallet is a favourite among thousands of users worldwide.

Advantages and Disadvantages

In general, Neteller is a great e-wallet not only to use at online casinos, but also at other online destinations too. This tool lets people transfer money from a wide range of options such as credit cards or bank accounts into a single place and then use it at various destinations seamlessly. At the same time, users of Neteller get to keep their private and sensitive information safe at Neteller servers, while they provide only their Neteller log in information to online casino operators. This may be the biggest pro of using this e-wallet as a deposit option.

Additionally, this is useful for players that have several casino accounts or often want to try new gambling destinations; namely, they can easily transfer cash from one casino account to their Neteller account and then from there they can transfer it to another casino account. All this, by the way, is done instantly or very quickly and often includes no or low fees.

Naturally, it is expected that Neteller comes with certain disadvantages as well; however, these are not too serious. For example, before you are allowed to use Neteller, the service requires you to confirm your identity and that process is for some people just too time consuming. Also, there are certain transaction fees as well as inactivity fees that not all users are willing to pay. You should, however, have in mind that almost all financial services come with certain fees; thus, this shouldn’t be neither a surprise nor a deal breaker.

Service Fees

Most of the online casinos do not charge any fees on Neteller deposits and withdrawals. However, certain operators may include charges on such transactions; these fees usually go between $5 and $15. At some casinos, the fees may be between 1% and 5% of the transferred amount.

Users of Neteller should also bear in mind the fees charged by the provider. Thus, depositing funds may either be free or cost you up to 8%, depending on the chosen method. Similarly, the withdrawing fee can be between $7.50 and $25 depending on how you’ve decided to cash out the funds.

Security

Neteller takes security very seriously and therefore it employs the latest anti-fraud tools and security features. The company is approved by the UK FCA and holds the majority of the account balances in trust accounts. The payment provider uses data encryption, it offers tips to customers on how to stay safe and it allows users to activate two-step authentication.

In addition to Neteller being perfectly safe and secure, users need not worry when they deposit at online casinos either. At such sites, they only provide Neteller information and thus it is impossible for third parties to obtain sensitive financial data.

Customer Support

Those that use Neteller as a payment method at online casinos are provided not with one, but with two separate customer support teams. Namely, every reputable online gambling destination has its own customer support team that is often available 24/7 to assist players; thus, any questions regarding Neteller deposits and withdrawals can be easily answered.

Additionally, Neteller as a company provides support to its customers as well. Hence, users that have questions and/or issues can contact the company and they will be provided with competent and multilingual assistance in no time.