Neteller is one of the world’s most popular and most commonly used digital wallets. This company is owned by Optimal Payments PLC and it was started in 1999 in Canada. However, in 2004 its headquarters were moved from Canada to the Isle of Man; nonetheless, the online payment service is subject to the rules of the UK Financial Services Authority.
However, the reason why Neteller is so important for the online gaming industry is the fact it is one of players’ favourite deposit and withdrawal methods. Fifteen years ago the company covered approximately 80% of money transactions between iGaming sites and players.
Today it is also very popular even though the market now offers many other alternatives to Neteller. This payment system is available in more than 200 countries all around the world and it is used by millions of customers.
Ever since it was first launched, Neteller has been trying to make online payments as convenient as possible by offering safe and fast transactions and accepting various currencies. As a result, not only players appreciate this e-wallet, but also online casinos like working with it; therefore they often offer special bonuses to players who use it.
Neteller and Bitcoin
In March, 2015, Neteller made a move that showed its determination to break new grounds when it comes to making online payments. Neteller has added Bitcoin as accepted currency and it made possible for thousands of online players who play with Bitcoin to use their coins in order to top up Neteller accounts and play at regular online casinos.
This was seen as an incredible progress for Bitcoin as a currency and for Neteller as an online payment provider. In addition, people started wondering whether this new feature will be also added on Neteller’s main competitor Skrill, which was recently acquired by Optimal Payments PLC.
Getting Started with Neteller
Online players who want to start using Neteller as their preferred payment method at online casinos will first have to set up their personal Neteller account. This takes a reasonable amount of time and it is just like completing a registration process at a gambling site.
Neteller is available in 14 different languages and 23 currencies. Customers should simply select their country and choose a preferred currency and language. The provider needs some more personal information and within minutes your brand new Neteller account will be ready to use. Naturally, in order to add cash to Neteller that can be later sent to a casino account you will have to fund your e-wallet first by using bank transfers, prepaid cards or credit/debit cards.
Funding a Neteller account is very easy. Players can use a vast number of methods such as bank transfer, Bitcoin, EUTeller, Paysafecard, UKash, Visa, MasterCard and etc. The cost of this action depends on the method and sometimes it can be completely free, whereas other times it can include a 9.9% fee.
Bank draft, bank transfer, cheque, money transfer and Net+ Prepaid MasterCard are the withdrawal options at Neteller. Cashing out funds from Neteller account can be either free or include fees 4-25 EUR.
Using Neteller at Online Casinos
In order to find out whether a gambling site accepts Neteller deposits and withdrawals you have to check out its banking section. If you see the recognisable green Neteller logo – you can use this e-wallet at any given time.
Neteller deposits are instant and the cash is available to use within several minutes. Particular casinos may even offer a 5-20% preferred payment bonus and hence using Neteller might even turn out profitable for players. Neteller withdrawals are also instantaneous and players may have to wait for a day or two only in case the casino has a withdrawal pending time.
Most money transaction between a casino account and a Neteller digital wallet are completely free of charge. This is what makes Neteller so attractive to customers who can easily and without any charges transfer money in and out their casino accounts.
Nevertheless, if the transfer is in a currency different than the primary currency of the player’s Neteller account there will be a fixed fee of 2.95%.
Usually, online casinos have banking limits that apply to Neteller money transactions as well. Therefore, players cannot deposit/withdraw more or less cash than the amount approved by the casino. These limits should always be checked prior to making a deposit or requesting a cashout.
In any case, players should expect from 10 EUR minimum to 10,000 EUR maximum deposit amounts and cashout limits between 5 EUR and 30,000 EUR.
Safe Online Payments
Neteller is a Financial Conduct Authority (FCA) authorised company. This means that the payment provider meets high safety requirements and that 100% of users’ account balance is kept in trust accounts. Therefore, their money is always safe and available to them.
In addition, online casinos that work with this online payment provider use latest encryption technology and therefore it’s impossible for anyone to steal and read confidential details. Finally, Neteller never share its customers’ details with third parties.
Pros of Using Neteller at Gambling Sites
Neteller would have never become one of the top used e-wallets by online casino players if it didn’t offer so many advantages to its customers. Setting up a Neteller account is extremely easy and fast process, whereas transferring money from and to casino accounts is even simpler.
Besides being able to easily top up your casino account and cash out your winnings, another advantage is the fact all of this is done instantaneously. Naturally, Neteller transactions are perfectly safe and hence players who use this digital wallet need not worry about any safety issues such as theft or fraud.
Even though it may not seem that important, being able to use the same method for both depositing and withdrawing funds is very convenient and timesaving. Finally, you cannot use Neteller unless you have funds on it and therefore the chance to build up debts is almost non-existent.