Neteller

Neteller: The Gold Standard for E-Wallets

Online betting websites are expanding their presence all over the world at a rapid speed. Along with that, betting enthusiasts are looking for trustworthy online payment methods they can use to fund their accounts. From the long list on e-wallets and other payment methods, Neteller outshines most of them with its reliable and secure payment process. It has been a hit among Indian bettors for a long time now. Neteller is also popular among all the major online betting sites world over.  In this article, we will discuss every aspect of this payment method to give you a clear picture of how e-wallet is a success all over the betting and gambling industry.  

has been a hit among Indian bettors for a long time now

Overview

Neteller launched back in 1999 has early origins based in Canada. It was later on acquired by Paysafe Group plc. This e-wallet has thoroughly become popular among the gambling and online betting sites which is why majority of its revenue comes from the online betting and gambling industry. Neteller is considered to be one of the simplest methods through which you can deposit money into your online betting account.  It is totally up to a website to accept or reject Neteller as a payment method which is why you must be aware of the reliable websites that accept Neteller. Several banks in different countries do not allow Neteller as a payment method on any online portal. However, these are just a few regions that have decided in contrast to the majority of international and national banks all across the globe.  

FAQs about Neteller

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How Does Neteller Work?

Neteller has a unique and much more secure payment processing system as compared to other e-wallets. You can fund your Neteller account by choosing any of the payment methods including bank transfer, credit card/debit card, Wire transfer, etc. After you add money to your e-wallet, it acts as a virtual bank account through which you can add funds in your online betting accounts on various bookmaker sites. You can even use it to withdraw money. Neteller helps you perform transactions at a rapid pace which serves bettors great convenience especially when they are betting live.

Neteller helps you perform transactions at a rapid pace which serves bettors great convenience especially when they are betting live

Using a payment method like Neteller is probably the best option that an Indian bettor can go for. Neteller’s deposit success rate on an online betting site is quite high when compared with other depositing methods.  However, there are certain things that Indian users do have to keep in mind while using this method to make deposits in their betting account. Usually, Indian banks don’t allow international money transfer after a certain limit is exceeded. Neteller being a global organization permits players to transfer their funds internationally without any major restrictions. Most banks and credit card companies in India usually reject the transactions that are made through Neteller wallet which creates a problem among a lot of users who are totally dependent on e-wallets for their betting needs. In many cases, the money specified by a bettor is automatically rejected by the bank. Banks like the ICICI bank have given a breather to Indian players by completely accepting Neteller as a payment method for all kinds of transactions. They let you transfer money to your Neteller account through a bit easier process than other banks who straight away decline or block the transactions. Another option is the Federal Bank that offers a significantly good acceptance rate. However, there is still a chance that your transaction will be denied by both the banks.

How to Set Up a Neteller Account 

The registration process at Neteller has been made easy for all kinds of customers. You can register yourself in an instant and start using the service immediately after that. Although, sometimes it may take a few minutes to get it done as the process is pretty simple. All you have to do is visit their official website and click on ‘Join Now Free’. After that, a window will open in which you will be guided to the next step of the registration process. You have to fill the registration form and submit the information that you have entered. After this, you are required to verify your account through the verification email sent to you. A Neteller Secure ID will also be visible in your email which should not be shared with anyone. With this, your Neteller account will be set up and you can start using the service. All you have to do is add the money in your Neteller Wallet by clicking on the ‘Money In’ option. This will redirect you to another window where you will be asked to enter the amount and complete the transaction process. 

Adding Money in your Neteller Account

There are several options you can use to add money to your Neteller account. You can use VISA, MasterCard, Bank Transfer, and several other payment methods to fund your Neteller Wallet. What you should know is that a fee is charged for every transaction you make through your Neteller account. Charges vary between different modes of payment. For example, for using a VISA or a MasterCard, the user will have to pay around 1.9% to 4.95% of the amount being deposited. While making payment through Bitcoin, the user will have to pay 1% of the total amount being deposited. However, making a deposit with Bank Transfer won’t cost you extra money.  Through these options, you can add money to your Neteller account. After completing the transaction, it may take a while for the transaction to complete and register the amount added to your account. You can use VISA or MasterCard for smaller amounts as it charges a hefty fee. But, the most expensive way to fund your account is through Paysafe card where users have to pay 7% to 10% of the principal amount. Now that you have your money added to your Neteller Wallet, you can use this money to fund your online betting and gambling accounts. For this, you wouldn’t have to pay anything extra as every online bookmaker around the world allows users to make deposits through e-wallets, free of cost. The payments done are safe and secure through the Neteller servers and you would not have to worry about it at all.

Withdrawal from Your Neteller Account

To withdraw money from your Neteller Wallet, you can use direct bank transfer which will cost you around €7.5 which is pretty costly looking at what other merchants are charging. This is pretty much the standard fee for almost every withdrawal method that Neteller accepts. But there can be instances where you may have to pay more to withdraw the amount directly into your bank account.  This won’t be lucrative for bettors as they will have to pay an amount for deposits as well as withdrawals which would affect a fair share of their winnings. 

Bookmakers Accepting Neteller

Several bookmakers accept Neteller as a reliable online payment method like many other e-wallets. We have mentioned a list of major online betting sites that accept Neteller:

• Bet365
• Betway
• 10Cric
• Royal Panda

These websites are accessible all around the world and allow users to make deposits and withdrawals most securely and discreetly. Neteller has been able to gain popularity world over for its rapid transaction speed and the assurance of keeping the player’s data safe. 

Things to Consider While Using Neteller

There are some suggestions that you must keep in mind while using the Neteller website for transactions like withdrawals or deposits. These will surely help you a great deal in managing your Neteller account:

• When using any finance-based websites or doing any sort of transaction through these platforms, make sure never to use HTTP extension. You should rather add an S to it which stands for Secure. This will keep all your data and transactions safe from getting hacked or misused. HTTPS makes it safe for you to easily carry out a live transaction.
• Whenever you want to withdraw your money from Neteller, always choose a specific time so you have to do fewer withdrawals. The reason behind Neteller holding your outward transactions is that the withdrawal charges are high. This should be considered every time you make a withdrawal as you would deter from spending a lot in transfer fees.
• Try to use promotional offers as much as you can. This will save you a lot of money in the long run. People sometimes don’t use offers which is not good for their betting account wins. Using website- or Neteller-based offers will not make any difference and you can use any of them and it will get you a great bonus whenever you transfer the amount.
• Make sure you link your bank account to your Neteller account. This is the right way to go about as it creates a hassle-free and safe depositing and withdrawal process which saves you a lot of time. This is essential when you are in the middle of a live betting match. In case you don’t want to do this, you will have to enter information every time you are transferring the amount.
• Always keep track of your Secure ID. You should always keep it hidden and save it somewhere you can instantly access it while performing transactions through Neteller. This will come in handy when you will have to enter your Secure ID whenever it is required. 
• Neteller can be used to transfer money between two individual accounts and along with many other purposes other than online gambling and betting. 

Advantages & Disadvantages of Using Neteller

There are several advantages of using Neteller as your preferred payment method for making transactions on your online betting and gambling accounts. A certain amount of easement can be sensed when using Neteller which is because of the layout and how every feature is well defined. Below are some of the advantages of using Neteller as a payment method:

Maintains Customer Data Privacy

Neteller makes sure that a customer’s discretion is not hampered at any cost. All the bank details and personal information are not shared or displayed anywhere or with third-party. However, if you are directly carrying out all transactions in your online betting through your bank account or your credit card, Neteller doesn’t provide a layer of privacy to the player as the payment is directly being made into the bank account.  Neteller payments are privacy-oriented as it acts as a mediator between your money and your online betting account. No proof or visibility of transaction details will be there except for the Neteller account’s transaction details. This is a great way to perform transactions for Indian bettors as most of the banks and credit cards don’t allow transactions directly from the source. 

Safe & Secure Transactions

There is always a slight chance that your transactions might be completed and may cause you to lose money. But, if you are using Neteller, your transactions will be safe as Neteller uses 128-bit encryption method to secure your transactions. This sets a great industry standard for online transactions through e-wallets. Additionally, e-wallets are offering a 100% success rate for transactions of all kinds. Every transaction you make is being encrypted which prevents hacking of your bank account details and personal information. All this adds more reliability ensuring that all the information and money are safe under the Neteller’s hood. 

if you are using Neteller your transactions will be safe

Great Promotional Offers

Neteller regularly provides promotional offers to all the customers. The primary intention behind offering these bonuses and offers is to retain the customer for a longer time. Other promotional offers are initiated by different betting sites that allow Neteller users to claim the bonus. Offers by both platforms go hand-in-hand to give customers a profitable betting and gambling experience. This gives Neteller a greater edge over its competitors.  You can avail these offers and discounts regularly through your account before making payments. Some of the offers are valid throughout while others are offered on a short-term basis. More information will be given to you while you surf through the offers in your account.

Easy to Use Interface

One of the best things about using Neteller is the well-defined user interface. It makes Neteller one of the simple payment methods that you can use to transfer money across the globe without any hassle. Whether it is depositing money into your e-wallet or withdrawing money from your Neteller or betting account to your bank account, every transaction can be done in an instant and without any confusion.  There are a couple of disadvantages as well that are equally as important to discuss as the advantages. These disadvantages would explain why Neteller lacks being an all-round best online payment option. Some of these disadvantages may sometimes act as a deal-breaker for specific reasons. The disadvantages are as follows:

• The complaint that is most heard from the customers is the high fees that Neteller charges for every transaction. Users have to bear the charges for both deposits as well as withdrawals from their account. These charges are also very high when compared to other online payment services including e-wallets, Credit cards, debit cards, net banking, wire transfer, and various payment gateways. This sometimes lets users take a second guess on using the Neteller payment service.
• The other thing that is a concern among users is that there are transfer limits for both deposits as well as withdrawals that are not beneficial for the users as it limits their betting potential and slows them down during the live betting matches. This results in a lot of customers switching to other payment methods that do not have transfer limits.