Neteller is one of the oldest systems of online payment, dating all the way back to 1999. Today, the service is regulated by the UK Financial Services Authority and is a popular way to store money for online gambling. It is an online e-wallet option that proclaims users can “pay with confidence” since it is an accepted eCommerce payment option at many sites.
To sign up for a Neteller account, you must first register and prove your identity. You will have to provide your name, address, date of birth, telephone number, and social security number for U.S. citizens, as well as a form of government-issued ID.
Neteller acts just like a bank account. Upon adding funds to your account, you will only be able to spend the same amount of money, minus fees, that is available on your Neteller account on whatever you want. It is even easier than paying your bills.
Similar to any online banking service, a full transaction history is available online, but a paper statement can be sent for a fee. The transaction history includes the name of the transaction, date of transaction, status of transaction, and amount of debit or credit for the transaction.
Please keep in mind that there is a $10,000 limit on your Neteller account, which means that it is not insured by the FDIC. If your funds are lost or stolen, there will be difficulty in retrieving them.
Many common questions are answered on the Frequently Asked Questions page, including information about getting started, depositing money, and withdrawing money. They also offer email, live chat and phone support, with the customer service and security teams being available 24/7/365. There is also an option to file a formal complaint through email or regular post.
Also, there are regional customer support lines available to cut down on long-distance fees and to support a variety of languages. Supported countries include:
Algeria, Australia, Brazil, Bulgaria, Columbia, Cyprus, France, Germany, Italy, Japan, Mexico, Netherlands, Norway, Spain, Sweden, Taiwan, United Kingdom, and Venezuela.
Neteller does charge for certain deposit and withdrawal methods so make sure you check these before deciding which method to use. A detailed list of the various methods of depositing your own money into the account to taking money out at an ATM, there are fees associated and it varies by your VIP levels too.
For Visa and MasterCard deposits, there is a 2.5% fee, while ACH guarantee deposits result in a 3.5% charge. Transactions that result in an exchange of currency garners a 2.95% fee. ATM withdrawals cost $3.95, administrative fees are $2.99 per month, paper statements rack up $3.00, and a card cancellation or replacement is $5.00.
In addition to taking a good chunk of money through fees and deductions, Neteller also takes some time to process withdrawals. It takes an average of 5-7 business days for all processing to complete and funds to become available. If you’re trying to move money quickly, it may be smarter to bite the $3.95 bullet to withdraw via an ATM.
As a positive, Neteller does accept 22 currencies including:
Australian Dollar (AUD), Bulgarian Lev, (BGN), Canadian Dollar (CAD), Danish Krone (DKK), Euro (EUR), Great Britain Pound (GBP), Hungarian Forint (HUF), Indian Rupee (INR), Japanese Yen (JPY), Malaysian Ringgit (MYR), Mexican Peso (MXN), Moroccan Dirham (MAD), Norwegian Krone (NOK), Polish Zloty (PLN), Romanian New Leu (RON), Russian Ruble (RUB), Singapore Dollar (SGD), Swedish Krona (SEK), Swiss Franc (CHF), Taiwanese Dollar (TWD), Tunisian Dinar (TND), and United States Dollar (USD).
In the past there have been complaints about Neteller’s service, but this has dramatically improved in the past few years, along with the way that their fees are displayed in the wallet, making it clearer to the end user on how they are being charged for this service.
Neteller - when used in the right way - is ultimately cheaper and better than most other ewallet options out there. Yeah, PayPal is better when it comes to fees and things like that, but there are not many options for those who want to fund their account using PayPal.
In addition, if you simply move funds to and from betting sites, you pay 0 fees. You can also deposit with a local or international bank transfer with no processing fee. So if you time these things correctly, it should cost you close to zero using their services. Especially if you become a VIP member.
And about the time we wrote this article they still fronted their old web design, without mobile support, but now they have updated their site which now have it looking really slick. The back end is still the same, but I am guessing it is not far behind!
If you need convenient way of funding your betting accounts, Neteller is an excellent choice. Comes highly recommended!
