E-wallets are a force to reckon with in internet gaming. If you are a real money player, you must have come across Neteller. It sits beside popular digital wallets like PayPal and Skrill.
Notably, most modern casinos have this payment option. It’s usually available for both deposits and withdrawals, hence convenient for everyone. Gamblers across the globe love it for its high-end features.
But why should you use Neteller for your casino transactions? Read on for details.
To start us off, Neteller is a digital wallet. The platform was launched in Canada in 1999. It was among the first e-wallets in the world.
At launch, the company had its headquarters in Canada. But 5 years later, they shifted to the Isle of Man. Since then, the e-wallet has been processing electronic payments for merchants.
Neteller joined the casino market in July 2000 and with time, it became a favorite. However, in 2006 the US and Canada illegalized gambling-related transactions. Neteller then chose to diversify away from the gambling market. But this was not to last since its revenues began going down.
The company acquired Netbanx Limited in 2005, forcing it to rebrand. The wallet was named Neovia in 2008. Later, the company merged with the Paysafe group.
Neteller quit the US market in 2019 and focused on other countries. However, some countries do not accept gambling transactions via the wallet. These include Canada, Albania and Cambodia.
However, note that Neteller is not a bank. Thus, the wallet does not lend money to customers. Instead, the wallet facilitates payment processing.
Currently, Neteller is one of the most used e-wallets in the gambling scene. Besides being available in many countries, the wallet accepts various currencies.
Like any other e-wallet, you will need an account for Neteller. Doing so is quick and hassle-free provided you have an internet-connected device.
Follow the easy steps below to open an account;
Visit www.neteller.com and tap on the join button
Load the wallet’s official website. On the homepage, trace and click on the signup tab. The button is labeled ‘Join for free.’
Fill out the registration form
After clicking the signup button, an enrollment form will appear. Here, you are required to fill in your personal data. The verifiable details needed here include name, email, and home address.
Next, proceed to create your login password. Ideally, the password should be something you can easily remember.
Select country of residence
At this point, you will be presented with a list of supported countries. Choose your country of residence and preferred currency.
Neteller demands the provision of a phone number for security. Please enter your number and ensure that it is valid. The e-wallet uses the number to send a 2FA verification code.
Accept terms and conditions
Read through Neteller’s terms and conditions keenly and accept them.
Link bank account
Now that the account is created, the next step is funding it. To do so, link a bank account through which you’ll deposit into the wallet. However, the bank linking process might take some time to go through.
Deposit at your favorite casino
You are now all set and ready to start making casino deposits. Head over to your preferred Neteller casino and choose Neteller as a payment method. Follow the prompts to deposit your preferred amount.
Pros of Using Neteller for Casino Deposits
When it comes to banking, processing speed is a priority. Gamblers prefer payment modes with fast transactions. These make the gambling process enjoyable.
Neteller understands the need for fast transactions. Deposits here are processed instantly. After initiating the transaction, money reflects in your betting account immediately.
Interestingly, withdrawals are also processed fast. Once the casino approves your transaction, the wallet processes it instantly. However, note that approval time may vary from one casino to another.
Talking about ease of access, Neteller carries the day. The e-wallet is easily accessible from multiple platforms. You will have a seamless experience using this wallet.
For starters, you can use the wallet from its interactive website. The website features a simple interface for quick navigation. What’s more, you can access it on a desktop browser or phone browser.
Alternatively, Neteller is also accessible via a mobile app. This app supports different phone systems, including Android and iPhone. You need to download the app though.
Apparently, the app is available on Google Playstore for Android users. But iPhone users can also download the app from the App Store. What’s more, the app’s interface is straightforward for a hassle-free experience.
Any transaction involving money demands security. Recently, there has been a rise in online hacking activities. Hence, Neteller has invested heavily in security.
First, the platform utilizes 2-step verification features which ensure that third parties can’t access your account. Besides the money, your personal data is also well guarded here.
The first step of authentication is the user password. After verifying your password, the system takes you to the next step. Here, a code is sent to your mobile number for verification.
Further, the wallet generates a unique virtual card after every transaction. Each card has a different number which is only usable once. The unique code for each transaction makes third-party access impossible.
Complicated systems are a turn-off for most gamblers. That’s why Neteller has ensured its system achieves more usability. The platform’s interface is straightforward. You don’t need to be an expert in using e-wallets. Newbies easily find their way navigating through the system.
Cons of Using Neteller for Online Casino Deposits
High transaction fees
Despite being a prevalent transaction method, Neteller has flaws. Customers complain about the high fees levied on withdrawals. Indeed, the cost can go up to 40% in some instances.
The fee rate is higher compared to competitor e-wallets. Hence, the wallet administrators should review the rates to be more accommodative.
Account closure and rejection
Some customers have also complained of their accounts being closed without notification. The worst scenario is when the account has a significant balance. Unfortunately, there are no reasons given for the frequent closures.
On the other hand, there have been complaints about account rejection. The wallet may decide not to approve your documents during registration.
Overall, Neteller is an ideal online payment option. It has a fine share of pros and cons, but the former outweighs the latter. That’s why several online casinos accept it as a payment gateway. You should give it a try.