Neteller is one of the most popular online payment processors in the industry and is very convenient for online gamblers because a majority of the online casinos support Neteller as a banking method. The online payment processor has been around since 1999 and has already won over a large number of satisfied customers. A brand of Neovia Financial Plc, Neteller has established its presence in hundreds of countries all over the world.
How it Works
Neteller fits into the category of eWallet into which customers can deposit money and later use it to purchase goods and services online. This means that customers can use the money in their Neteller accounts to fund their online casino accounts, purchase music, go shopping online, and much more.
Registering for a Neteller account is absolutely free of charge. Customers can fund their Neteller accounts using credit/debit cards, bank accounts, and pre-paid cards. One’s Neteller account can also be used to receive payments. Customers can easily use wire transfer, ordinary checks, or a Net+MasterCard debit card to withdraw their Neteller funds into their checking accounts.
Neteller charges different fees for different methods and the time taken to process funds depends on the payment option chosen. For instance, customers can fund their Neteller accounts through wire transfer absolutely free of charge, but it will take 2 to 5 working days for the funds to get processed. On the other hand, cash is instantly transferred via credit card, but Neteller charges a fee of 1.75 percent for all credit card transactions. Neteller also charges $6 and $10 respectively for all withdrawals made via Net+MasterCard debit card and bank wire transfer.
Advantages and Disadvantages
The biggest advantage of Neteller is that it is the safest, quickest, and most convenient way to fund one’s online gaming accounts; players need not have to waste time providing identification proof and can fund their accounts instantly. Neteller is also safe because players do not have to provide their credit card details to the online casino or any other online shop. Another great advantage of Neteller is that customers can transfer funds using the electronic fund transfer, which is quick, hassle free, as well as risk free.
Unfortunately, Neteller is not for US players because the online payment processing company once got into very bad trouble with the US federal government, leading to frozen accounts and furious customers. Although Neteller has sorted out the issue now and permits US players to use its services, it does not permit US players to use Neteller to fund their online gambling accounts. Some players might also feel that the fees imposed by Neteller are a bit too high.
One of the best features of Neteller is its 24-hour support system, which includes an exhaustive FAQ, an online form, and telephone support; besides, Neteller encourages customers to report account misuse and lodge complaints. Customers can also keep in touch with Neteller and get the latest updates through Twitter, Facebook, or the Neteller blog.
Using Neteller at Online Casinos
Using Neteller at online casinos is a real pleasure because the online payment processor constantly improves the way it works. Neteller is, therefore, immensely popular among online gaming enthusiasts and is an approved payment method at most online casinos. Players who are interested in using Neteller for their monetary transactions should register for a Neteller account. They also need to ensure that their online casino supports Neteller.
Neteller is also popular because it includes InstaCash, which enables players to move funds directly from their bank accounts to their Neteller accounts or vice versa, which is quick, safe, and instant, but a bit expensive.
Players who need to fund their accounts with Neteller must visit their online casino cashier and choose Neteller as their payment option. They can also transfer their winnings to their Neteller accounts and use them to either fund some other casino account or transfer them to their bank accounts.