Neteller is among the top payment providers in the world today. Initially launched back in 1999, it has been processing payments for a whopping 17 years now and counting. Neteller is part of the Paysafe Group plc and is the first in the list of payment methods in the group. However, the other subsidiaries are also no less known, which only goes to show that this company offers great services. You may have heard of the other payment methods in Paysafe Group plc, such as Skrill and Paysafecard. Just like the former, Neteller is an e-wallet. It offers the convenience of being able to transfer funds to and from your online account with this provider. Neteller is also available in a wide range of different parts of world, with Canada being its home. However, the headquarters have since moved to the Isle of Man. Apart from English, the e-wallet is available in a total of fifteen different languages. You can choose from Arabic, Japanese, Korean, Spanish, German, French, Greek, Russian and Norwegian – to name a few.
Clients can be sure of the safety of this provider, as it operates under the supervision of the Financial Conduct Authority (FCA). But Neteller takes security beyond just legal requirements and boasts of being among the world’s most trusted online payment providers. The company holds over 100% of customers’ account balance in trust accounts to ensure its availability at all times. Furthermore, it claims to be using all the latest security features and anti-fraud tools. Users also have the opportunity to add another level of safety by opting for Two-Step Authentication in their accounts.
Using the service
Neteller offers very fast and very secure payments. It also strives to provide its clients with as little effort on their part as possible. And using Neteller is indeed fairly simple, but for that purpose you will first need to set up an account. You can either do so on the official website or by downloading the app for your mobile device. You will need to register your emails address, full name and full physical address. Furthermore, upon registering you will also have the option of choosing the currency for your account. After completing all the necessary steps, you will receive an email confirmation regarding the creation of your account. And next stop after this would be to deposit to your Neteller account. You will find a wide variety of different funding methods at your disposal. You can choose to top up your account via credit or debit card, bank transfer, other e-wallets and even via prepaid payment options, among others. Once you’ve done all this, you can finally use your e-wallet to pay on various other sites. You can also use it to transfer funds to other e-wallets or even withdraw money. When paying via Neteller on other online platforms, you will need to enter your account ID or email, as well as the special 6-digit Secure ID number.
Managing funds with Neteller
There are a number of extra features that Neteller offers, such as its prepaid cards. It’s basically a card with a PIN and chip, just like a bank card, and 128-bit encryption and transaction monitoring. There are no monthly or annual fees on it and it offers the perfect offline payment solution. In addition, you can collect Loyalty Reward Points for each of your purchases via Neteller. You can later redeem them for cash or merchandise.
When opening an account, all users start out with the Unverified account status. It provides certain restrictions regarding deposit, transfer and receipt amounts. For example, you will have a lifetime funding amount of 375 GBP. As for sending and receiving funds – there’s a lifetime limit on each of those of 65 GBP. You can lift these limits by verifying your account, for which purpose you will need to provide proof of identity. This will offer an increase of your limits as well as the appearance of monthly limits, which can range from 4,000 to 400,000 USD per month. What’s more, you’ll also gain a withdrawal option, which you won’t have as long as you don’t verify your account. In addition, you may choose to further increase those amounts later on.
Casinos where Neteller can be used
Neteller is among the most common depositing options in a whole range of different online casinos. The fact that this payment provider is available in just over 200 countries greatly contributes towards this. Here are some examples of the online casino platforms where you can find Neteller as an available payment method: Spinit, Casino Cruise, Wildslots Casino, Casino Luck, Jackpot Strike. But by no means does the list end here.
Pros and Cons
There’s much to like about Neteller as a payment provider. It’s smooth, fast and offers instant transactions. What’s more, there are no transaction fees, which is among the biggest plus sides for this provider. But there are quite a few more, too. For example, you can also benefit from free direct withdrawals, which is also pretty rare in this industry. And with the help of their new NET+ card options, you aren’t necessarily confined to the internet anymore. Another great plus is the wide availability of this payment provider, which is always a good thing. You can use it almost anywhere in the world with the huge number of over 200 countries. And speaking of numbers, you should have a look at the amount of different merchants Neteller works with. You have arguably the widest choice in the industry of over 60 options to deposit to your Neteller account with.
On the downside, though, withdrawal methods are a bit scarce. You won’t be able to withdraw funds to your credit or debit card, for example. Furthermore, the fees for internal Neteller transfers are rather high. So, say if you were willing to transfer funds to a buddy with a Neteller account, you would likely think twice about it. Another severe drawback is the lack of anonymity. Already by registering you state your full name and address, which isn’t necessarily ideal. Even despite the high levels of security the company provides, it’s still a liability. Furthermore, you will need to send your ID if you would like to use your account to its fullest. And last but not least, the e-wallet will only allow you to use one currency for it. That can also sometimes pose as an inconvenience.