Founded in 1999, Neteller is an e-wallet transfer service that allows 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 is headquartered in the Isle of Man and is part of the PaySafe Group.
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What is Neteller?
Neteller was created in Canada back in 1999 by tech entrepreneurs John Lefebvre and Steve Lawrence. The digital payment startup became popular with online gamblers during the early days of iGaming, leading to the company’s rapid growth.
In 2003, the company launched its own prepaid card, which would eventually be rebranded as Net+. In 2004, it moved to the Isle of Man, and that same year Neteller raised around $70 million through its IPO on the London Stock Exchange. As the payment platform continued to thrive, Neteller PLC snapped up other firms and changed its name first to Neovia Financial PLC, then later to Optimal Payments PLC.
In 2015, Optimal Payments acquired the rival Skrill group, which included the prepaid card brand Paysafecard. It led to Optimal Payments rebranding again, this time as Paysafe Group. Today, Paysafe Group has offices in cities like London, Vienna, Montreal and Houston. Neteller sits alongside Skrill and Paysafecard as a family of brands familiar to users of online casinos and sportsbooks around the world.
How do I deposit using Neteller?
Neteller casinos make it very straightforward to use Neteller to deposit funds into 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.
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 charges the equivalent of US$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 into the 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
Alternatives to Neteller
If you don’t want to use Neteller when playing casino games, there are plenty of other online payment methods around. Here are some popular options at the best online casinos in the UK.
PayPal is a major e-wallet and key competitor of Neteller. Carrying out billions of transactions daily, PayPal offers a safe and secure way to make deposits and withdrawals at casino sites. As with Neteller, you won’t have to share bank or card details when making transactions online. Unlike Neteller, however, PayPal doesn’t charge you when you withdraw money from your e-wallet account to your bank.
Skrill is owned by the same parent company as Neteller, and it’s another solid e-wallet option for players who prefer not to have to share their bank details with the online casino. In contrast to PayPal, fees are charged when you move money from your Skrill account to your bank account. Some casino welcome bonuses are also out of bounds if you make your first deposit through Skrill, so always check the small print before signing up as a new customer.
Paysafecard is a prepaid voucher system that offers a highly secure way to make casino deposits. You can purchase vouchers of various values online or in physical retailers, then transfer the value of the vouchers to your casino account by entering the unique PIN codes. Most casinos will only let you use a Paysafecard to make deposits, however, so you will have to use a different method when you make a withdrawal.
Boku is a deposit method that uses your mobile phone to make payments. All you have to do is navigate to the cashier or deposit page, enter your phone number and the amount you want to deposit, and then wait for the confirmation SMS to arrive. The amount will simply be added to your monthly phone bill, or deducted from your pay as you go credit. It’s highly secure, but there are tight daily deposit limits, and you can’t make withdrawals using this system.
All transactions made using a debit card are protected by your bank’s own data encryption software. This means you can rest assured your personal information will be kept safe when you gamble using your debit card. The other plus point with debit card transactions is you won’t be exempt from any welcome bonuses. So, if a casino’s sign up offer can’t be unlocked with a first deposit through Neteller, you can always use your debit card for this initial payment, then switch over to Neteller for future transactions.
Bonuses to Claim at Neteller Gambling Sites
A wide range of casino bonuses can be claimed when you register as a new customer. Some of the most common bonus types are explained below.
This offer will see the online casino match your first deposit with bonus funds, up to a certain amount. For example, if there’s a matched deposit bonus of 100% up to £200, and you deposit £100, you’ll be given another £100 in bonus credits. Bear in mind there may be wagering requirements attached, which means you’ll have to bet the bonus amount a set number of times before you can claim any winnings as real money.
Free spins allow you to try out online slots without risking your own money, and they’re often tied to certain games. For example, the Ancient Egyptian-themed Book of Dead slot is a common choice for free spin bonuses. As with matched deposits, wagering requirements may apply — this time to whatever you win using your free spins.
No Deposit Bonuses
You don’t need to pay anything into your casino account to access a no deposit bonus — the credits will be given to you just for signing up to the site. If you’re thinking of trying a new online casino, a no deposit bonus provides a way to experience what’s on offer without making any financial outlay. Just remember that wagering requirements will usually have to be met before you can draw out your winnings.
How to Use a Net+ Mastercard
The Net+ Mastercard is a prepaid card that allows you to spend money in your Neteller account wherever Mastercard payments are accepted. The Net+ card comes in two forms: virtual and plastic.
It should be noted, however, you’re not actually able to use the virtual or plastic Net+ cards at gambling sites. That said, having a Net+ card means you’ll be able to use the casino funds you’ve withdrawn to your Neteller e-wallet account to purchase goods and services from vendors that use Mastercard.
If you’re sticking to online transactions, then the virtual card ticks many boxes. It’s free to sign up for your first one through your Neteller account page, and your virtual card will be instantly available for use at vendors that accept Mastercard. You’re provided with a 16-digit card number, security code and expiry date, so you can make online payments exactly like you would with a regular debit or credit card.
On the other hand, if you’re looking to use your Neteller balance during in-person transactions, you can consider applying for a Net+ Mastercard plastic card through your account page. This card allows for contactless payments in brick-and-mortar premises, and can also be used to make ATM cash withdrawals from your Neteller account.