Neteller is an e-wallet service. It can be used to pay for various goods and services online. The company is owned by the UK payments firm Paysafe Group. Along with Neteller, the group operates other e-wallet services such as Skrill and, of course, Paysafecard.
The company was launched in Canada. It did business there for the first five years of its existence before moving to the Isle of Man. The jurisdiction is particularly known for its regulatory leniency towards payment companies and gambling firms alike.
Almost from the beginning, Neteller was processing payments for the gambling industry. The company derived the lion’s share of its profits from transactions involved involving gambling firms.
Is Neteller safe?
Neteller and the company that now owns it, Paysafe Financial Services Limited, is authorised to do business by the UK’s Financial Conduct Authority. The company has registered offices in five different locations around the world, and since it isn’t a bank, it does not use any of your funds for its own profits.
The company uses the highest standard of encryption – 256 Bit – to ensure that the payment and personal details you do share with them remain private. It always offers additional security precautions, such as two-factor authentication.
Can I Use Neteller in the United States?
Neteller is perfectly legal in the United States and many online casinos accept Neteller payments from US players. However, the legality of this varies from state to state. The states of New Jersey, Pennsylvania, and Delaware all allow online gambling. Meanwhile, this list plus Nevada allows online poker.
Which Casinos Accept Neteller?
Being owned by possibly the largest e-wallet provider on the planet and deriving most of its profits from the activity in its early years, Neteller is one of the most widely accepted payment methods for the industry today. Although not quite as prolific as Visa or Mastercard, it’s more likely than not that a casino will allow payments via the method. Even when the method is not accepted directly, thanks to Neteller prepay cards, you can actually use it at any casino that accepts Mastercard too.
Why Should I Use Neteller?
Privacy and Security
One of the biggest advantages of using a payment service like Neteller for any purchase online is the extra privacy and security it affords. Some people are reluctant to share their bank details with a lot of online casinos.
With a service like Neteller, you are only sharing your Neteller account details which are likely worth a lot less than your actual bank account. If the worst happened and your details were compromised, losing your gambling bankroll is likely a lot less devastating than being hacked for your entire bank balance.
Neteller was pretty much built with online gambling in mind. It, therefore, has built up relationships with many casino operators, allowing it to process withdrawals much faster than those using Visa or Mastercard. Obviously, after a big win, the faster you can spend your money, the better!
Although it’s certainly less convenient adding a step between your Visa card and an online casino, that step is necessary for the security benefits mentioned above. If you want to benefit from the increased privacy an e-wallet service affords, Neteller is a great choice because of all the extra features it comes with.
Not only can you top up a Neteller account with more than 60 different payment methods, the service offers both virtual and physical prepay cards that can be used online and at point-of-sale terminals all over the world. There’s no charge whatsoever for using the cards online or at POS terminals. However, withdrawals from ATMs will occur a flat charge.
Free Instant Transfers
You can also send money to other Neteller users using the service’s free instant transfer feature. You just enter their email address and the amount you want to send, then hit “Send”. For poker players entering into staking arrangements, such a system is an absolute blessing.
How to Use Neteller at an Online Casino
To use Neteller, users simply visit the website and register for a free account. Once you’ve got an account, you can top it up with one of more than 60 different deposit methods. The fee to add money to a Neteller account is currently 2.5 percent no matter which method you use to top your account up.
With a funded Neteller account, you can make deposits at any casino supporting the payment method. To do so, navigate to the website’s cashier section and select Neteller when asked which method you wish to use.
When prompted, enter your account number, security number, and the amount you want to deposit. That’s all there is to it.
Neteller Prepay and Virtual Cards
Neteller offers its users a choice of prepaid cards, which are also useful when it comes to making withdrawals of winnings. Rather than transfer your money back to the funding source you originally used to top it up, you can not only spend it at online retailers that explicitly allow for Neteller payments but also, using these cards, spend it either online or instore at basically any retailer.
Neteller offers virtual prepay cards for online use. You simply generate a card from within the account section and you are given all the details that a retailer would prompt you for – card number, security code, expiry date.
Similarly, users can buy a prepay physical Mastercard from the company. These work in ATMs and POS terminals around the world and make spending gambling winnings just as convenient as using a Visa or Mastercard but with a lot of added security.
Neteller offers users a great balance of security, privacy, and convenience. Built pretty much with gambling in mind, it’s one of the best payment methods for users wanting to sign up to multiple casinos and are concerned about sharing their bank details with many different companies.
For US users, the service can act as a bridge between a bank account and an online casino either in the US or elsewhere. The legality of this will depend on the state you live in, though.