Neteller is one of the most commonly used EWallets around today, and with its roots dating back to 1999, it’s also one of the oldest and most trusted payment methods on the market.
Initially based in Canada, these days Neteller is available in over 100 countries around the world; and with millions of monthly customers it’s no surprise that it is the most frequently offered EWallet at online betting sites and casinos.
In this post, we’re going to cover some of the basics, including how to set up an account and how to deposit and withdraw from your online betting accounts. We’ll begin by looking at what exactly Neteller is, and go on to look at some of the main advantages and disadvantages, alongside a ‘How to Use’ guide.
Gambling Sites That Accept Neteller
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What is Neteller?
If you’ve ever used PayPal before then you’ll already have a pretty good grasp of what Neteller is. While not legally classified as a bank, the EWallet is regulated by the Financial Services Authority in the United Kingdom, and this ensures that your funds are fully protected should anything go wrong with the company or its day to day running.
It’s a bit like an online bank account where you can store funds. You can use the wallet to buy things online (including topping up and withdrawing from your online betting accounts), and while you don’t get a debit card – although certain users can apply for a Neteller MasterCard – it functions in a near identical way to a bank, with the main differences being that there are no high street branches and you can’t withdraw money in cash.
How to use Neteller
Obviously usability is a key factor when choosing an EWallett, and thankfully this is something you won’t have to worry about with Neteller. Neither setting up nor using your account is difficult, and in fact it takes just a few minutes to sign up successfully.
We’ve included the steps needed in order to create an account below.
Step #1: Opening Your Account
In order to begin using Neteller, you need to open your account, and this can be completed by heading to the website and clicking the ‘Join Now’ button at the top left-hand side of the screen.
Once you’ve done so, you’ll be prompted to enter a few personal bits of information including a phone number and an email address, and once you’ve confirmed your email, you’ll be the proud owner of a Neteller account.
Step #2: Funding Your Account
Of course, in order to use your EWallett you’ll need to have funds in your account, and to add funds you have a couple of options.
The most common way (although not the quickest) is to use your debit card to make a payment to Neteller, who will then credit your account with the payment amount of your choice. This is all done through the ‘Add Funds’ tab which appears when logged in to your account; and you’ll see a number of other payment options available to you as well, including the ability to make a direct bank transfer.
Note: By default, new users are limited in the amount they can fund their account with. Various identity confirmation steps exist to enable you to unlock larger payment options, and these include verifying your ID, providing proof of address, alongside offering proof of ownership of any payment methods used to fund your account.
Full details of these verification steps can be found under the ‘My Account’ tab, and then the ‘Limits’ tabs.
How to Deposit and Withdraw Using Neteller.
To deposit, head to the cashier at whichever betting website you’re playing at and choose Neteller as the payment option.
You’ll then be able to input the amount, along with your unique ID number which you’ll get when you first join. Once you click ‘Deposit’, a new pop-up window will open allowing you to complete the payment process through Neteller’s web portal.
Withdrawing is just as easy – even quicker in fact – and again, it’s just a case of heading to the site’s cashier page and inputting the amount you wish to withdraw before hitting ‘Process’. As soon as the casino have sorted it at their end, you’ll see the funds available in your account almost instantaneously.
Advantages and Disadvantages of Using Neteller
Using a Neteller account holds a wide range of benefits, and below we’ll cover some of the main pros and cons.
Advantages:
- Fast deposits and withdrawals: Payments are virtually instant – there’s no waiting around. This is especially beneficial when it comes to withdrawals as the funds show up in your account the second they have been processed.
- Easy to use: You won’t be required to remember expiry dates, CCV numbers, or anything like that. Just input your username and password and you’re all set, making depositing a hassle-free experience.
Disadvantages:
- Verification and limits: At first, you may find yourself quite limited, both in terms of how much money you can spend and the amount you can receive through the EWallett. This also applies to the amount of money you can top-up your account with. In order to remove these limits and restrictions, you’ll need to first verify your account; and while this is generally pretty speedy, it does mean you’ve got a couple of extra steps to go through rather than just using a debit card.
- Phishing: Phishing, is where scammers and fraudsters will make webpages that look exactly the same as the legitimate sites, but change the URL slightly to fool their targets. For example, the word ‘Neteller’ in the web address might be changed to ‘Netelller’ – an extra ‘l’ in the domain name. This is a common method that scammers use to target PayPal accounts, but more recently we’ve seen it used on Neteller too; so always ensure you’re using the official website to avoid having your account hacked, and losing your funds.
Conclusion
Overall, Neteller is one of the better online payment methods to use while gambling online, and while it does have its disadvantages (mainly the fact that new users are limited in what they can spend/receive), it’s versatile, easy to use, and secure; and thanks to the fact that it’s accepted at almost every online casino, you’ll never run into any issues when trying to deposit or withdraw funds.