Pros and Cons of Using NETELLER at Online Casinos
✅ Pros ❌ Cons 👍 Widely accepted 💲 Transaction fees 📈 Easy to sign up 💰 Transaction limits ⌛ Shorter waiting times 🌍 Location restrictions 🔐 Security and anonymity 🛃 Good customer support 💱 Currency options
Advantages of NETELLER Online Casinos
There’s a reason why Neteller has grown to become such a popular payment method at online casinos. Here are all the advantages that make Neteller a convenient payment option for not just us, but tons of other online gamblers as well:
- Easy Sign-Up: Signing up on Neteller barely takes a few minutes, and is a process that anyone can figure out by themselves. Thus, you don’t need to go through any excessive and long processes to create an account. You can simply go on to Neteller’s website today and register for a new account.
- Wide Acceptance: The US is not ideal for online gambling payments using Neteller, however, other parts of the world are filled with casinos that process Neteller payments. It will be hard for you to find casinos that do not process this payment provider. This makes it easier for online gamblers because they do not need to strive excessively to locate a place that processes their Neteller transactions.
- Short Waiting Times: A big issue when using bank transfers for your online gambling is that banks may often delay or even hold gambling-related transactions. Financial institutions like these can have tons of their own restrictions when it comes to processing such payments, which can become quite a hassle. However, using Neteller can help you sidestep this issue on your casino account. The e-wallet will act as a middleman between your bank and the casino, allowing transactions between the two sides to go through faster. Thus, you’ll have much shorter waiting times.
- Security and Trustworthiness: Neteller is a well-regarded, well-established company with significant revenue and compliance, so it is considered trustworthy, especially as it holds a constant amount of trust that is greater than the amount of money that customers have deposited in their accounts.
It uses two-step authentication and SSL encryption, and for VIP members, there is a 100% fraud guarantee. Of course, one of the principal reasons that online casino users and general clients use Neteller is to avoid having their private financial information stored online.
This is particularly pertinent for the online casino market, as users will typically have accounts with multiple sites and may be reluctant to have their details spread so widely. Of course, the added advantage here is that users with multiple accounts can keep their gaming money in one single location; their Neteller account. And with the ability to withdraw, there are no issues with access to funds being delayed or withheld should you need them at any point.
There are also some extra elements that you can take care of in order to maximize your security. Choose a strong password to keep your account secure. Always play at licensed casinos, because unregulated casino sites cannot be trusted with your money. Check your transaction history regularly to see if there are any suspicious transactions that you didn’t authorize. Contact Neteller immediately if this happens. - Addition of the Prepaid Mastercard Option: As well as payments and transfers, Neteller also offers a prepaid Mastercard service for purchases. The Net virtual card still avoids the need for using a physical credit or debit card with compatible online sites and can be used in eight currencies: British pounds, US dollars, Euros, Japanese Yen, Australian dollars, Canadian dollars, Danish krone, and Swedish krona.
With the addition of the Prepaid Mastercard alternative, you have the option to access your funds online or offline. For VIPs, there is a range of extra benefits, including 0.8% cashback, increased payment limits, and 1.35% cashback with the Neteller wallet booster service. For this reason, Neteller is often used by high-volume traders and high rollers, as so many of the benefits are accessed by being a VIP on one of the three available levels. - Customer Support: In terms of support options, there is a 24/7 live chat option and a separate VIP support service available, as well as phone support for all users and dedicated national phone lines in Australia, Brazil, Japan, Spain, the UK, France, Germany, Italy and Tunisia. There is also the option to email customer support, although there is a typical response lag time of 24-72 hours.
- Currency Options: Neteller supports 22 currencies, also allowing you to exchange between different currencies rapidly. This makes it a preferred choice for bettors who do not want to gamble only in mainstream currencies like the Euro or Pound.
Disadvantages of NETELLER Casinos
Despite all its plus points, this online casino payment method does have some drawbacks as well, just like any other payment method. Let’s take a look at some of the biggest disadvantages of gambling at Neteller casinos:
- Transaction Fees: Some people might find Neteller transaction fees to be a bit high, which makes sense. There are other payment providers on the market that charge 0% for transferring funds, which makes them much more appealing. This is especially a problem if you’re gambling on a budget. When you already have a limited bankroll, you do not want to spend most of it on paying transaction fees.
- Country Restrictions: We’ve already discussed how Neteller does not operate within the US, but that’s not the only country facing such an issue. The provider does not provide services within some other countries as well. There are also certain locations that may allow Neteller to operate, but not for gambling-related transactions. These laws and regulations differ from place to place and thus, you always need to check your location’s restrictions before you try using Neteller for making your casino payments.
- Transaction Limits: Neteller accounts also come with certain transaction limits, preventing bettors from transferring large amounts of money at once. These restrictions are put in place to encourage responsible gambling, and prevent people from overspending their budget. However, it might be a problem for some individuals, and thus, it is something you should consider.
What is NETELLER and How Does it Work?
Neteller is an e-wallet service that allows individuals and businesses alike to transfer money online via various methods. It is one of the world’s largest money transfer companies, now operating in 15 languages and 26 currencies worldwide and growing year on year since its founding in 1999. Originally from Canada, it moved to the Isle of Man in 2003.
Depositing money into online casino accounts is widely supported, excluding industry-wide embargos on gambling-related transfers in Turkey, Singapore, Israel, Laos, Hong Kong, Lebanon, Macau, Canada and Albania. As part of the Paysafe Group, Neteller also partners with Skrill, making it one of the most widely used payment and transfer services in the world.
Neteller’s main USP is that it is easy to use and flexible with payment types. Customers can sign up for a free account via the website in just a few seconds and can then deposit money via a range of methods. Currently, Neteller supports deposits from over 50 methods, including Visa debit and credit cards, HSBC, Pay by Mobile, Caixa, and Bitcoin. The fees for all the methods are fixed at 2.5%, although deposits of over 20,000 US dollars are charged at 0% after any necessary currency conversion fees.
Once customers have deposited money into their Neteller account or transferred it in from Skrill, they can then withdraw, spend, or transfer money as they wish. Currently, a wide range of online casinos accept Neteller as a payment method. In fact, it is unusual to come across any major online casino that does not accept Neteller.
A History of NETELLER and its Use in NETELLER Casinos
Neteller was launched in 1999 and is owned by Paysafe, an international payments company that also owns Skrill, which used to be Neteller’s competitor before its acquisition by Paysafe.
Neteller entered the online gambling industry in 2000, just a year after it came into existence. At that time, 85% of the world’s online casinos had their payments processed through Neteller, and 95% of the company’s total revenue came from this stream. US-based gamblers formed a major segment within this customer base.
However, 2007 saw an excessive US crackdown on gambling activities, and a string of events led to Neteller exiting its US market. This one move wiped out 65% of the company’s business, along with the accounts of its US customers being restricted.
Neteller does not operate in the US to this day, but US-based bettors have the option of using Skrill for their payments. This event is what made Neteller realize that the company should diversify its services, and it did exactly that.
However, Neteller still remains a popular option for online gambling in countries where transfers are allowed. Customers can also access a premium membership known as NETELLER VIP, which comes with more perks for online gambling.
It is because of these advantages and their trustworthiness that Neteller is such a popular method for online casinos even today. As well as being used for online casino deposits, you can also withdraw your money back into your bank account.
However, this is charged at $10 per transaction unless you have signed up for one of the levels of Neteller VIP service – bronze, which requires a $10,000 minimum transaction volume per year, silver at $50,000, or gold at $100,000.
Understanding NETELLER Deposits and Withdrawals
The Neteller deposit and withdrawal processes are quite straightforward and simple. All you need to do is ensure that your chosen casino allows both methods through Neteller because some of them don’t.
Apart from this limited restriction, you don’t need to worry about many things when it comes to using this payment method for your casino transactions. Let’s take an in-depth look at deposits and withdrawals using Neteller.
Depositing Money Using NETELLER Casinos
If you want to deposit money into your casino wallet using Neteller, here is the process you need to follow:
- Add money to your Neteller account using any method of your preference, for example, debit cards, credit cards, bank transfers, etc.
- Look up casinos that accept Neteller payments and pick any that you want to gamble at.
- Once you’ve selected your best Neteller casino, sign up for an account or log in if you already have one.
- Go to the casino’s banking or cashier page and select Neteller as your chosen method of deposit.
- Add any details that the casino asks you for, along with the amount you wish to deposit. Make sure to follow the minimum deposit requirements at this particular casino.
- In addition to your betting funds, also set aside some percentage of money for the transaction fee, this usually amounts to around 2.5%.
- Complete your transaction and wait a few minutes for your funds to go through. Deposits through Neteller are almost instantaneous and take only a few moments to be processed.
- Once you’ve received your funds, you’re free to place your bets on any casino games you like, including live casino games and slot games.
Note that this entire deposit process takes only a few minutes to go through, which makes it highly convenient and easy. Some casinos might also offer a specific Neteller casino bonus, so you can take a look around for that as well.
Withdrawing Money Using NETELLER Online Casinos
Neteller’s withdrawal process is not very different from its deposit process, given that your chosen casino allows withdrawals using Neteller. If it does, here are the steps you need to follow for this process:
- Check that you’ve completed any wagering requirements needed before your deposit goes through. You also need to have enough funds in your wallet that they reach the minimum withdrawal limit.
- Visit the banking page and select Neteller as your chosen withdrawal method.
- Enter any details the casino asks for if you haven’t already saved the details required for this payment method.
- Next, enter the amount you would like to withdraw.
- Wait a while for your transaction to go through. Making a Neteller casino deposit is quick, but withdrawals tend to take a bit longer. Depending on the casino, it can take anywhere from a few hours to a couple of days.
- If a long time passes without your withdrawal going through, you can contact the casino to inquire further.
Read the Terms and Conditions Thoroughly at NETELLER Casinos
This is one of the most essential parts of online gambling, whether you do it through Neteller or some other payment method. Not reading the terms and conditions can put you in jeopardy later on.
Neteller has its own conditions regarding the transaction fee on various types of transfers. Casinos also tend to have terms and conditions regarding different payment methods, and they differ from casino to casino as well.
Thus, you should take a detailed look through Neteller’s terms and conditions, as well as those of the casino you’re playing at. This will ensure that you don’t come across any issues later on because you’ll already be aware of what to expect.
Is NETELLER Still Worth It?
Should you still consider using Neteller if it has all these issues? In our opinion, absolutely yes! None of Neteller’s disadvantages are specific to this payment provider only. Restrictions of this kind are a part of every other payment mechanism, because regulations always exist.
However, despite its issues, no one can deny that Neteller is one of the best payment methods for online gamblers. After all, there is a reason that it has dominated the online gambling industry for over two decades now.
Neteller’s advantages trump its disadvantages, according to us, and it does emerge as a viable payment method for anyone looking for a smooth and seamless payment process for their online gambling activities.
NETELLER vs. Other Payment Options
In addition to Neteller, the gambling industry also uses several other payment options, but how do they all fare in comparison? Let’s take a look at some of the most popular payment methods and what they offer when compared with Neteller:
NETELLER vs. Bank Transfer: Bank transfers allow you to transfer money directly from your bank account to the gambling merchant, but they may require more hassle. Furthermore, you need to share your bank information when using these methods, but a Neteller account will prevent this. By acting as the middleman between your bank and a casino, Neteller removes the need for you to share any personal information or bank details with the casino.
NETELLER vs. Credit/Debit Cards: Credit and debit cards present the same issue as bank transfers, i.e., they require you to share your bank details with the casino. Moreover, credit cards may also encourage you to overspend your gambling budget because you’re betting money you don’t even have.
The upside to using these cards is that they often don’t have the transaction fees that e-wallets do, which makes them cheaper. However, this is not the case for all cards across the board. There are service charges associated with every payment method out there, they just differ in the way they’re implemented.
If you want to shift to using credit or debit cards, make sure to check them for any attached service or transaction fees. You don’t want to end up paying any hidden charges that you were unaware of beforehand.
NETELLER vs. Other E-Wallets: E-wallets like Skrill and PayPal function mostly like Neteller, with some differences, like transaction fees and location restrictions.
Thus, you need to compare these elements side-by-side before picking an e-wallet. For example, US-based players are better off using Skrill because they cannot access Neteller.
If you’re located somewhere else where Neteller doesn’t work, look for any e-wallets that do. At the end of the day, every e-wallet will give you the same experience, more or less. The benefit of using e-wallets is that they allow you to stay anonymous as compared to bank transfers or bank cards.
NETELLER vs. Cryptocurrency: Cryptocurrency is one of the newest payment methods for online casinos. Because of its relatively young age, it’s not as well-regulated as the other payment methods out there, which makes it slightly risky.
People who already trade in crypto and are aware of its workings can use it for their online payments, but we do not recommend it for first-time users as you might be a bit confused with figuring out its technicalities.
Final Thoughts - Why You Should Consider NETELLER Casinos
If you wish to gamble at online casinos using an e-wallet, Neteller is easily one of the best choices you can make. In addition to being one of the oldest e-wallet services out there, it is also one of the most widely used ones when it comes to online casinos.
Bettors will be expected to go through ID verification before they can gamble online and might even be subjected to bonus restrictions at certain casinos, but these are standard issues with all e-wallet providers. Each place functions differently, and limitations are only in place to enable bettors to gamble responsibly.
All things aside, Neteller is surely one of the strongest e-wallet providers out there, especially when it comes to gambling online. If you want a smooth sailing journey when you place your online bets, consider using Neteller for your transactions!
