Neteller is always one of my first recommendations to players looking for a reliable deposit method at online gambling sites. Neteller functions as an online wallet that you can load with a variety of funding methods such as credit cards, bank transfers, prepaid cards and more.
Once your account is funded, you can make instant deposits to gambling sites that accept Neteller.
Neteller gambling sites can also pay out winnings directly to your Neteller account. All in all, Neteller is flexible, easy to use and secure. I’ve been using the service off and on since 2004 and have always been happy with my experience.
How to Use Neteller
The core of the Neteller business is an e-wallet account that you can get for free at www.neteller.com. Your e-wallet serves as a hub from which you make deposits at gambling websites and receive cashouts.
Uploading Funds to your E-Wallet
The first time you use Neteller, you’ll be asked to choose a funding method to upload funds to your account. There are about many ways to do this, depening on what part of the world you live in. You can link Neteller to your bank account for direct transfers, upload funds with your credit card, transfer money in from a different e-wallet and even use bitcoin to fund your account.
Deposit limits vary from site to site. On average, the minimum deposit you can make with Neteller is about ₤20 while the average maximum amount per transaction is about ₤20,000 to ₤30,000.
Prepaid Net+ MasterCard
If you end up using Neteller frequently, you may want to consider signing up for a Net+ prepaid MasterCard. This card works like a debit card, but attached to your Neteller balance rather than your bank account. There are a couple reasons why it may come in handy, and one reason why you may want to pass on it.
Let’s talk about the good points first. The Net+ card is pretty useful because you can use just like any other debit card.
It’s also nice to have instant access to your withdrawals with the Net+ card. You won’t have to wait for the cashout to hit your actual bank account. You may also make cash ATM withdrawals of up to $3,300 per day (or your currency equivalent).
This leads to the one potential negative point. It’s easy to blow your bankroll with irresponsible spending. Having such easy access to your winnings is tempting.
Here’s a quick list of fees associated with the Net+ card:
- Shipping the card to you: ₤8
- Point of sale purchase: free
- ATM withdrawal: ₤3
- Foreign exchange on purchases or ATM withdrawals: 2.95%
- Cancel and replace a lost card: ₤8
VIP and Rewards Programs
Neteller has both a VIP program and a rewards program that give you special benefits in return for using Neteller to gamble online. The more you use the service, the more you get in return. The VIP program offers quite a bit, so here’s a quick screenshot I snagged from the Neteller website that breaks it all down:
As you can see, there are five levels in the VIP program based on how much you deposit per year. Some of the more useful benefits include a VIP fraud guarantee (if someone gets access to your information and causes you losses, you get reimbursed), larger transaction limits, reduced fees and faster accumulation of rewards points.
Speaking of which, the rewards program offers its own set of benefits based on how many points you earn. You earn 1 reward point for every 1 unit of your currency moved into or out of your account. As you accumulate points, you can redeem them for cash, electronics and other gifts from the Neteller rewards store. Your points can also be used to enter other promotions and giveaways.
Refer a Friend Program
Neteller has a simple referral program that awards cash bonuses to you and anyone you refer. Inside your account is a special referral link that you can share with your friends. Whenever someone you refer signs up for an account and makes a deposit, you get a referral bonus equal to 20% of that person’s first deposit for up to €16 extra. Your friend will get an extra 10% for up to €8 extra.
Neteller can be considered a very safe deposit method for several reasons. Most importantly, the company is registered with the UK Financial Conduct Authority (FCA). Entities licensed with the FCA are regulated and monitored to ensure they practice sound money management and account security.
Additionally, Neteller keeps your banking information private because gambling sites are never given your bank account or credit card details. Once you have money in your e-wallet, Neteller handles transactions to and from online casinos without sharing your information.
Neteller also includes optional 2-step verification if you need extra security. When enacted, 2-step verification sends a temporary 6-digit number to your smartphone every time you log in to your account. You must enter this number in addition to your password to access your account. This renders it impossible for anyone to log in to your account unless they have physical access to your mobile device.
The FCA requires Neteller to verify your identity before you can use your e-wallet to its full potential. This will require you to scan a copy of a government-issued photo ID and send it to Neteller’s security team. It’s a bit of an annoyance, but it does increase account security and prevent people from signing up for an account in your name.