Created as far back as 1999, Neteller is an e-wallet transfer service that allow users to pay for goods online without exposing their debit/credit card details to the merchant. It is most commonly used to pay at forex platforms, social network websites and of course, online casinos. The organisation are headquartered in the Isle of Man and are part of the PaySafe Group.
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What is Neteller? How does Neteller casinos work?
The same parent company are fully regulated by the UK’s Financial Conduct Authority (FSA), meaning that users have a stringent regulatory watchdog to ensure that Neteller remain complaint with domestic and regional legislation.
Neteller claim to have more than 23 million account holders worldwide, illustrating that they are hugely popular within the digital space. In a nutshell, users upload funds to their Neteller account via a range of well-known payment methods, and then use their account to pay for goods and services online at the click of a button.
Let’s explore how Neteller works in greater detail.
How does Neteller work?
Before getting started at Neteller casinos, you will first need to open an account with the e-wallet provider. This only takes a couple of minutes and will require you to enter your personal information, such as your full name, address and date of birth. At this point, your Neteller account remains unverified, meaning that you can only deposit a maximum of 100 USD.
In order to increase these limits, you will need to go through the Neteller verification process. This will consist of an upload of your ID (such as a passport or driving licence) and a copy of your proof of address (such as a utility bill or bank statement). Once your documents have been verified, you will be able to deposit up to 50,000 USD.
When it comes to depositing funds in to your Neteller account, you can use a range of traditional payment methods such as a Debit/Credit card, or a direct bank transfer. Deposit fees for popular debit cards such as Visa amount to 2.5% of the total amount you want to fund.
As soon as you have funded your account, you can then use it deposit funds at a range of Neteller casinos.
So now that you have a better understanding as to how the payment method works, in the next part of our Neteller casinos guide we are going to take a look at casino-related deposits and withdrawals.
How do I deposit using Neteller?
Neteller casinos make it very straightforward to use Neteller to deposit funds in to your account. Once you have registered an account, you need to head over to the deposit section. You will likely see a full range of available methods, so simply scroll down until you find Neteller.
Next, you will be asked to sign in to your Neteller account via your online casino page. Don’t worry, your login credentials are fully encrypted, so Neteller casinos do not have access to your password.
Once logged in, you will need to specify the amount that you want to deposit. If you currently have enough funds in your Neteller account to cover the deposit, then you simply need to confirm the transaction. Otherwise, you will be given the option to make an external deposit in to your Neteller account, which is then directly sent to the casino operator.
Either way, Neteller casinos process Neteller deposits instantly, meaning that you can gamble straight away.
How do I withdraw funds via Neteller?
When it comes to withdrawing funds via Neteller casinos, the process is relatively simple. All you need to do is specify the amount that you want cash-out, and that you want your funds returned to your Neteller account. As you will have already linked this up with the respective Neteller casino, you don’t need to do anything other than confirm the withdrawal.
It is also worth mentioning that Neteller issue Pre-Paid MasterCard’s. This means that you can use it at Neteller casinos that support Pre-Paid cards. If you go down this route, and the casino in question allows withdrawals back to a Pre-Paid card, then you can withdraw funds straight to the card and then withdraw them at an ATM machine.
Nevertheless, if you withdraw your funds back to your Neteller account, you can withdraw them straight to your bank account. Most Neteller casinos process Neteller withdrawals in a matter of hours, meaning that you could get your funds the very same day.
In terms of fees, most Neteller casinos do not charge a fee to withdraw winnings back to your Neteller account, making it a great choice to cash-out quickly and cheaply. However, Neteller themselves do charge the equivalent of $10, regardless of the amount, to withdraw funds back to a UK bank account.
Neteller: Pros and Cons
- In most cases, Neteller casinos offer free deposits and withdrawals
- Much faster withdrawal process in comparison to debit/credit cards
- More secure than entering your personal debit/card details in to casino’s website
- Users are charged by Neteller to deposit and withdraw funds
- You need to get your Neteller account verified before being able to deposit more than $100 in funds
- You essentially need to add in an additional step before depositing at Neteller casinos, as you need to first fund your Neteller account
Best Neteller casinos: Promotions and offers
It is important to note that whilst a significant amount of online casinos now accept Neteller as a payment method, many do not allow you to use it if you are looking to take advantage of a sign up bonus. The key reason for this is with regards to bonus abuse. In other words, people found a way to open multiple Neteller accounts and as such, it is difficult for casinos to safeguard against this. As a result, it is crucial that you check the terms and conditions before signing up. Nevertheless, some offers do exist at certain Neteller casinos, which we have listed below.
Upon going through the terms of conditions of William Hill’s lucrative ‘100% matched buy-in bonus of up to £300’, there appears to be no mention of any restrictions regarding a Neteller deposit. It may be worth checking with the operator first, however casinos usually make it clear if they do not accept a certain payment method. Wagering requirements at set at 40x.
Casumo are a relatively new entrant to the online casino space. They are fully regulated by the UK’s Gambling Commission and have a rather unique interface. By registering an account for the first time, Casumo offer new players a 100% matched bonus up to £300, alongside 20 free spins on slot game ‘Starburst’. Wagering requirements are set at 30x.
Much like in the case of William Hill, Neteller casinos such as Casumo make no reference to Neteller (or any other payment method) regarding a sign up offer, so you should be fine. However, it is worth checking with the operator prior to depositing as terms can change without notice.