Neteller was formed in 1999 and it was unique at the time because it focused primarily on processing payments for the online gambling industry. Neteller began with a large presence among customers from the United States, but eventually left the US market after unfavorable gaming laws made it increasingly difficult and risky to do business with customers there.
The company shifted to a broader “rest of the world” focus after leaving the US and it saw massive growth despite losing the lucrative American market. In more recent years, Neteller has made small steps in returning to the US market and now processes payments wherever online betting is legal, licensed and regulated.
Betting sites that accept Neteller for deposits also allow customers to receive payments back to their Neteller accounts. This makes Neteller.com a convenient, all-in-one payment solution. One account is all you need to deposit, play and get paid at most of the internet’s largest gaming operators.
How Neteller Works
Neteller is what we call an “e-wallet.” If you imagine a virtual wallet that exists online instead of in your pocket, that’s the basic idea. You can fund your account with a variety of deposit methods and then send those funds to the betting site of your choice. The advantage in funding your account in this manner is that you keep your personal banking details private no matter how many different sites you play at.
If you would like to give Neteller a try, you can head over to www.neteller.com and sign up for a free account. Then, you’ll be asked to fund your e-wallet by transferring money from your bank account to your Neteller account. Credit cards, direct bank transfers and a variety of other payment method are accepted.
Any winnings that you manage to accrue can then be withdrawn back to your Neteller account. Just log in to your betting account, visit the cashier and request the funds to be sent to Neteller. Your funds should appear in your account within 24 hours and can then be transferred out to your bank account.
Rewards and VIP Program
One of the key advantages Neteller offers over other e-wallets is a lucrative rewards and VIP program. Every time you send money in or out of Neteller, you earn 1 reward point for every USD, EUR or GBP transferred. These points may then be redeemed for gift cards, electronics and straight up cash deposited ot your account.
Neteller also has a VIP program with five levels that you can move through based on your yearly activity. The more you use it, the more benefits you get as a VIP member. Benefits include reduced fees on currency exchanges, expedited withdrawals, increases in your daily ATM limit, faster accumulation of reward points and free multicurrency accounts.
|eWire (1.5%)||Fast Bank Transfer (free)||Giropay (free)||iDeal (free)|
|Interbank (9%)||Cheque (free)||Local Bank Deposit (free)||Maestro (1.9-4.95%)|
|MasterCard Credit or Debit (1.9-4.95%)||Receiving Payment from a Merchant Site (free)||Mr. Cash Instant Voucher (1.5%)||MOLpay (5.5%)|
|Moneta.ru (free)||Multibanco (1.5%)||Neosurf (5%)||Paysafecard (5.5-9.9%)|
|PayU (3.5%)||POLi (free)||Postepay (0-1.75%)||Przelewy24 (1.5%)|
|Quick Bank Transfer (1-1.75%)||Redpagos (6%)||Safetypay (3.5%)||Santander (7%)|
|Sofort (0-1.5%)||Teleingreso (5%)||Trustly (free)||Visa Credit or Debit (1.9-4.95%)|
|Bank Draft (€7.5-€25)||Bank Transfer (€7.50)||Cheque (€7.50)||Member Wire (€10.50)|
|Payment to Merchant Site (free)||Money Transfer (free)||Net+ Prepaid Card (€0-€4)|
|Australian Dollar||Bulgarian Lev||Canadian Dollar||Danish Krone|
|Euro||Great Britain Pound||Hungarian Forint||Indian Rupee|
|Japanese Yen||Malaysian Ringgit||Mexican Peso||Moroccan Dirham|
|Nigerian naira||Norwegian Krone||Polish Zloty||Romanian New Leu|
|Russian Ruble||Singapore Dollar||Swedish Krona||Swiss Franc|
|Taiwanese Dollar||Tunisian Dinar||United States Dollar|
Net+ Prepaid MasterCard
If you use Neteller frequently, you may want to consider getting a Net+ prepaid MasterCard. This card links to your Neteller balance and can be used anywhere MasterCard is accepted. You can shop with it online and in the real world, but it can only be used to spend funds that you have in your Neteller account.
There are two advantages here. One is that it gives you quick access to your Neteller funds. As soon as you cash out your winnings from whichever betting site, you can take your Net+ card shopping or withdraw cash at the ATM.
Second, you get increased security when you shop with a prepaid card. Because it has no connection to your bank account, the damage is limited if it goes missing or someone steals your information. The most someone could spend with your prepaid card would be whatever you have in your Neteller account at that moment.
You can also get a virtual prepaid card that works in the same way except it exists online only. The main advantage once again is that it serves as a firewall between your bank and any place you shop online.
Net+ Fees and Limits
|Make a purchase||0|
|Shipping your new card||£8|
|Replace lost card||£8|
|Cash withdrawal||2 every 24 hours|
|Cash withdrawal||£500 per 24 hours|
|Make a purchase||Up to 10 per 24 hours|
|Make a purchase||£1500 per 24 hours|