Neteller emerged back in 1999 at a time when PayPal was rising as the world’s most popular e-wallet. However, there are many more casinos that accept Neteller, making it an option worth understanding.
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What is Neteller?
Neteller was created as an electronic wallet that can be funded with bank accounts, debit cards, credit cards, and other methods. Once funded, a Neteller e-wallet can then be used to perform payments at compatible online vendors. The strength of Neteller is that payments are processed using login details rather than financial information.
How to Register and Use Neteller
Neteller isn’t any more complicated to set up than any other mainstream e-wallet. Check out this step-by-step guide for details:
- Register an account: At Neteller.com, the register button is typically named as “Join for free”. Start the process by tapping or clicking this option.
- Complete account fields: You will then be led into a process of submitting an email address, password, and various personal details. These cannot be skipped in the account creation process.
- Identify a funding method: The Neteller account is not yet usable. Next, you will be required to enter details for your preferred payment method. A multitude of credit cards and debit cards are accepted, but bank account transfers are free.
- Confirm the funding method: After submitting a payment method, you must then complete security approval. This is a simple step where Neteller delivers a micro-transaction tagged with a security code. Take the code and enter it in Neteller to fully activate your account.
- Complete a Neteller deposit: Use an active account at a Neteller casino to make your first deposit. Pick Neteller as the deposit method and then log in to your e-wallet to approve the transaction.
Neteller Pros and cons
Neteller does stand out as a popular payment method, but you should compare the pros and cons to see whether or not the e-wallet will be suitable for you.
- Simplicity: A fully set-up Neteller account can be used to make instant deposits by simply entering login details.
- Privacy: You are not asked to provide financial details when making Neteller deposits, giving you superior privacy and security.
- Deposit charges: Neteller accounts can be funded with an array of credit cards and other payment methods, but these come with percentage fees. A bank transfer is the only to avoid those, with some credit cards charged from 1.9% to 4.95%
- Withdrawal charges: Unfortunately, there is no way of avoiding charges on withdrawals. Fees typically start from €7.50 [£6.70 approximately].
Neteller vs. PayPal and paysafecard
Neteller is only one of many web-based payment methods. There are other alternatives where you can attain different benefits. This section is devoted to comparing Neteller with paysafecard.
The downside of PayPal is that the payment method is actually less common than Neteller online casinos. Nevertheless, the ones that do can actually offer much lower transaction fees compared to Neteller casinos. Neteller withdrawal costs are unavoidable, whereas PayPal has free options. PayPal also has free deposit options plus a credit card cost of 3.4% + £0.20.
These e-vouchers can be purchased in from real-world vendors. The rationale of paysafecard is that you can obtain virtually redeemable funds and incur less risk by making transactions online. Fees are not charged directly by paysafecard (£2 monthly maintenance after a year), but a drawback is that paysafecard withdrawals are not possible with casinos.
When choosing from payment methods, you can often gain perspective by analysing them using a table of key categories:
| ||Neteller||PayPal||Phone Bill|
|Security||High – provide login details only||High – hold back your financial details||High – confirm deposits by text|
|Withdrawals||Yes||Yes||No – alternative method required|
|Fees||Yes – for most transactions||Yes – deposits||No – during first 12 months|
|Features||Yes – various monitoring tools||Yes – helpful mobile app available||No|
You can now deposit more effectively at casinos with Neteller. NewCasinosOnline.co can also help you find a different option through one of our great guides.