Fast, simple and easy to use, Neteller is a leading e-wallet brand that offers casino players convenience and security. It is one of the most widely accepted payment methods in the industry today, with only credit cards and bank transfers having more reach across online gambling and betting sites. As part of a formidable family of electronic payment options, Neteller holds its own as a reputable ewallet brand.
Neteller was created back in 1999 by a two-man team in Canada. It eventually moved to the Isle of Man in 2004 and was acquired by Optimal Payments Plc in 2015. You might have heard of Optimal Payments or, as it is now known, the Paysafe Group. This family of brands includes the familiar names of Skrill and Paysafecard, both payment methods that are popular with online gamblers.
The UK’s Financial Conduct Authority is the regulator responsible for keeping the Paysafe Group on the straight and narrow, and this boosts Neteller’s standing as a reputable and safe online payment system. It is available in 200 different countries at present and supports many currencies.
How To Make A Deposit Using Neteller, Step By Step
Neteller is an e-wallet system. This means that it acts as a virtual account, separate from any bank or credit accounts a user might hold. Customers can transfer funds into their Neteller account and use them to pay for things online, including topping up their Neteller casino account.
Before you make a casino deposit through Neteller, you will need to set up a Neteller account. This is a simple process that should take just a few minutes.
With a Neteller wallet ready, you can proceed to make a deposit by following these steps:
Visit the Banking or Deposit page at your casino of choice
Select Neteller as a payment method
Input the amount you wish to transfer
Input your Neteller password or pin code
Check that everything is in order and confirm to deposit instantly
How To Make A Withdrawal Using Neteller
It is really easy to make a withdrawal using Neteller, particularly if it was also the payment method you used to deposit into your casino account initially. Simply select Neteller when making a withdrawal request and key in the amount you wish to withdraw.
E-wallet transfers are, by and large, the fastest payment options available to NZ online casino players. This is true for both deposits and withdrawals. However, withdrawals, unlike deposits, are not instant. Most Neteller withdrawals will arrive in customers’ wallets within a day or two, though some casinos do take a bit longer.
Pros and Cons
There are several good reasons why online casino players are turning to e-wallet payment methods in droves and Neteller certainly has a host of advantages to consider.
There are a few disadvantages to this method as well, as we have listed below:
Available on desktop and mobile
Available in several currencies
Virtual account and card options available
Fees apply when topping up and withdrawing out of Neteller
At some casinos, Neteller deposits are exempt from triggering certain promotions/bonuses
NZ$ not available
Neteller Fees, Commissions And Charges
The biggest drawback to Neteller is the fees it charges. While it’s free to pay by Neteller i.e. to make a deposit at a casino, there are fees applied to almost every other step of the process. Putting funds in your Neteller account comes with a 2.5% fee, no matter how you choose to do so. Similarly, transfering money out of a Neteller wallet and into a bank account involves a fee.
There are ways to mitigate the impact of these fees and these also tie in with practicing responsible gambling. Players often choose to dedicate their Neteller account solely to fund their online gambling, creating a disconnect between the funds they play with and their savings. By keeping their budget within the Neteller ecosystem, players avoid regularly getting hit with fees by consolidating their transfers.
Safety and Security
Neteller employs various layers of protection to keep its customers’ transactions safe. Under the watchful eye of the FCA, it has implemented financial measures that keep the company’s funds separate from customer funds, ensuring that users face zero risk even in the event of financial calamity.
Neteller customers can make use of the two-factor authentication feature. This creates an additional verification layer to protect individual transactions even further. The Neteller site is also brimming with good advice on keeping all your online activities, particularly financial ones, safe. It includes tips on account security, encourages regular software updates and good practices that reduce the risk of falling prey to fraud or theft.
Other Methods Like Neteller
When we talk about e-wallets, we rarely hear the name Neteller without also hearing the name Skrill. These two brands, owned by the same parent company, are leaders in their field and most casinos that accept one invariably welcome the other.
Alternative e-wallet options include Trustly, Zimpler, PayPal, Revolut, and EcoPayz, though some of these have geographical restrictions in place that make them unavailable to players in New Zealand.
There is a large and varied array of merchants accepting Neteller as a way to pay and among those are a good number of real money online casinos. Most new casino brands are very keen to reach players who use e-wallets, including Neteller, so they make a point to provide this facility. To find out whether an online casino accepts Neteller, look for the logo in the casino’s footer or check out the Banking page.
If you haven’t yet put funds into your Neteller account, you will need to do so before you can use it to pay for anything. Neteller charges a 2.5% fee for topping up your wallet.
There are no fees when you use Neteller to pay an online merchant i.e. the casino of your choice or to receive funds into your wallet, which covers your winnings withdrawals. However, you will need to factor in a charge when moving funds out of your Neteller account and into a bank account or credit card account.
At present, Neteller is available to players in over 200 countries around the world. This extensive list includes the UK, Australia, New Zealand, and most European countries. In some places, such as Canada, Hong Kong, Singapore and Turkey, Neteller is available but cannot be used for funding gambling activities.
Your Neteller wallet acts as a sort of pitstop for your money, creating a holding area between a bank account and the online casino account you wish to fund. It can also be used to hold your winnings once they are withdrawn and you can use those funds to gamble again or to spend at other online merchants. By using Neteller, you don’t expose your bank details online, which is an important security benefit.
In most cases, a casino’s deposit limits are set lower than those built into the payment method itself and these vary by casino. From Neteller’s end, the maximum transfer limit for an unverified account is up to US$2,000. Verified customers and VIP account holders have higher account limits.
Signing up for a Neteller account is easy. Head to the website and fill in the requested details including your name, email address and a secure password. Your email and that password will be your login details and they will also be used when you come to deposit into your online casino account.
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