Neteller Review

Introduction to Neteller

With Neteller, you can make secure online payments simply by logging in with your account details. Neteller users can also receive payments from other users and store funds in their account. The service therefore acts as a digital wallet, allowing you to seamlessly transfer cash in and out of your account.

Because all you need to make a payment is your Neteller login details, there’s no need to share sensitive card details when depositing funds into an online casino account. 

Before making a payment, you can deposit funds into your account ready to use. There are a variety of methods with which you can do this, including a credit or debit card, bank account, or rapid transfer. Alternatively, there’s also the option to use Neteller as an intermediary and send funds directly from your bank or card.

As for security, Neteller utilises the latest anti-fraud tools, 256-bit encryption, firewalls, device fingerprinting, and real-time transaction monitoring to keep you and your money safe. You also have the option to set up two-step authentication to add an additional layer of security to your account. A code will be sent to your phone by text, which you’ll then need to enter when logging in.

Casino Players Best Suited to Neteller

Neteller is ideal for casino players who want to prioritise fast withdrawals. While withdrawals to a Visa or Mastercard debit card can take up to five working days, Neteller payouts are often instant once the casino has completed its internal processing.

Any customers who prefer not to share their card details with the casino will also benefit from this payment method. All you’ll need to make a deposit or withdrawal with Neteller is the username and password assigned to your account.

One major drawback of Neteller is that it’s often excluded from being used to claim deposit bonuses. So, if you’re a keen bonus hunter and would like to claim regular reload offers, Neteller may not be the best option for you.

What We Like about Neteller

We touched on the fact that Neteller facilitates fast withdrawals from a casino site to your e-wallet. In fact, Neteller is a speedy service in general — you’ll receive payments instantly from other Neteller users, and there are lots of fast options for depositing funds such as a Rapid Transfer.

Neteller also stands out for its wide range of loyalty perks. With the Knect loyalty programme you can earn points and exchange them for cash rewards. Points are collected simply for using your Neteller account, so it’s easy to get started.

There are also four VIP tiers that customers can rank up to earn additional privileges. £15,000 of transfers per quarter are required to reach the Silver level, with higher demands for Gold, Diamond, and Exclusive. Each level offers 24/7 email support, while fees on certain transactions reduce as you rank up. There’s also a dedicated VIP manager for each customer from Gold tier and up.

Once you’ve signed up with Neteller, you’ll also have the option to claim a Net+ Prepaid or Virtual Card. This offers even greater flexibility for customers, allowing them to spend their Neteller balance using a contactless card in stores and online, and withdraw cash at ATMs.

What We Dislike about Neteller

The main drawback of using Neteller is the fees that are incurred when depositing and withdrawing funds to and from the digital wallet. There’s a 2.5% charge on deposits with Visa or Mastercard, along with fees up to 3.99% for withdrawals. There are, however, no fees incurred on international money transfers.

Although PayPal is much more favourable in the fees department, it doesn’t offer as many additional perks as Neteller. Skrill, meanwhile, is an almost identical service, and while it does have fees on many transactions, it doesn’t charge for deposits and withdrawals via bank transfer.

Other practical issues include its availability. Ultimately, some online merchants and casinos won’t support Neteller, so you may have to use an alternative payment method in certain situations. Along with other e-wallets like Skrill and PayPal, Neteller is usually ineligible for claiming deposit bonuses at online casinos.

Overall Thoughts on Neteller

Overall, Neteller is a useful and secure service for making online payments. It’s also a sound option for anyone looking to move funds between a digital wallet and their online casino account. Because you can spend your balance using the Net+ Prepaid Card, there may be no need to withdraw cash to your bank, which is the part that typically incurs fees.

Neteller offers an impressive range of rewards for loyal customers, although the spending demands of the higher VIP tiers will be out of reach for most users. Still, with the option to buy and sell cryptocurrency and manage your account via the mobile app, Neteller is a flexible option for consumers with a variety of preferences. 

More Information

Let’s take a closer look at Neteller as a company, its history, and what it’s likely to offer moving forwards.

History of Neteller

Neteller was founded in Canada in 1999 before moving to the Isle of Man in 2004. The service quickly became a popular option for online gamblers and remains so today, despite the company diversifying in recent years.

Following a series of mergers and acquisitions, Neteller joined Skrill and Paysafecard under the ownership and operation of Paysafe Limited, a London-based company that traces its roots back to the founding of Netbanx in 1996. Paysafe listed on the New York Stock Exchange in March 2021 and the company employs around 3,300 people in 12 countries.

General Information

Looking Ahead

Neteller’s parent company, Paysafe, recently announced plans to expand payment services in Latin America through a partnership with International Capital (IC) Markets, an Australian forex and CFD broker. IC Markets’ traders in Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Panama, and Peru now have access to Paysafe’s range of payment services, meaning forex trading accounts in these countries can now be funded using Neteller. 

Paysafe also recently partnered with Betr, the world’s first microbetting app, which is available to customers in Ohio and Massachusetts. This partnership is set to strengthen Paysafe’s presence in the US iGaming space, ahead of Betr’s expansion into additional gaming jurisdictions in the future.