Neteller is an electronic payment method, known as an e-wallet, which allows you to pay for things online. Many bookmakers offer far more than just debit and credit card betting now – and regularly offer Neteller as a payment method on their websites. Operated by the PaySafe Group, it provides users with a fast and secure method of funding their betting accounts. You can add funds to your Neteller account from your bank account or via another payment method such as Bitcoin betting.
Here, we’ll take a closer look at Neteller betting sites, and the advantages and disadvantages it offers as a payment method when you are betting.
Obviously, the main reason that people use Neteller when they are depositing funds into their betting accounts is convenience. Like PayPal betting, Neteller can be used to pay for services across national boundaries, and the actual physical process of paying for things with ewallets is incredibly simple. Using your bank account details for pay for things online can be a security risk, and is also a hassle. Using an ewallet like Neteller makes everything much easier.
Another reason many people use Neteller is that it can be used to fund betting accounts in countries where using bank accounts to bet is illegal. You might live in the UK and bet on a UK betting site, but if your bank is based in a country where gaming is not legal, you will not be able to fund your betting account directly from your bank account. This is where Neteller is really useful.
Neteller is a payment method that allows you to stay in control when betting. It allows you to pay closer attention to how much you are spending when betting. This is because you must always place funds into your Neteller account before you transfer them across to your actual betting account. This allows you to see exactly how much you are spending on gambling, and it also prevents you simply draining money straight out of your bank account.
Neteller makes it easy to pay for things across international borders. It can be used in over 200 countries, a full list of which is available on the Neteller website. Even in some of the countries where it can be used, though, it is illegal to use Neteller to fund gambling activities. These countries include the United States, Canada, Hong Kong, Israel, Thailand and Turkey. You can obtain a more extensive list of these countries from the customer service team at Neteller.
Another positive aspect of using Neteller betting sites is security. Neteller services in the UK are regulated by the Financial Conduct Authority, which means that they are carefully overseen for any irregularities. The way Neteller works is also very secure, as you only need to input your payment details once. This means that if the security of your betting account was compromised at any time, it would be impossible for the hackers to obtain any of your actual bank details.
Neteller also use highly advanced encryption technology which helps to keep all of your transactions secure. If you need to make deposits into your account from your bank account, additional passwords are required. Neteller is not a bank and does not loan money to customers. This means that they hold 100% of their customers’ deposits at all times. This means that you money is safe from the kind of fluctuations that can affect banks and lead to issues.
Some transactions at Neteller do not carry any fees. These include all bank transfers and wire transfers. The faster bank transfers which Neteller offers to customers do carry a 1.5% fee, though. Neteller do charge fees on a range of other transactions, though. Fees are applied to transactions from almost every funding source, and these range from 0.5% to 20%. A full list of all fees and how they are applied can be found on the Neteller website. Fees of between 1.9% to 4.9% are commonly applied to transactions using funding methods such as Visa, Maestro or Mastercard.
Fixed fees are usually applied by Neteller to withdrawals too. A full list of these is also available on the Neteller website. Fees vary in size depending upon the type of transaction. Some Neteller betting sites may also charge fees for certain transactions, though this is by no means universal. The best place to check for fees is on the bookies’ website.
Neteller was first founded in Canada in 1999 by the PaySafe Group. They moved to the UK in 2004, and now come under the regulation of the Financial Conduct Authority (FCA). The company has been handling gambling transactions since 2000. By 2005, they were handling payments for 80% of the world’s gambling providers, with most of these being in the United States.
That meant problems for the company, though, with the company’s founders being arrested in 2007 due to Neteller being used in so much online gambling in the USA. Online gambling is illegal in the USA, and this was why the arrests took place. The company’s key personnel cooperated with the American authorities, with the company forfeiting $140million and withdrawing from the USA. Since then, Neteller has recovered its reputation, and is now one of the best known and safest ewallets available.
When it comes to Neteller, bookmakers are not the only companies who find it useful, but it has certainly simplified the process of internet gambling.
A really important thing to consider if you are thinking about using Neteller to fund your betting account is that many bookmakers do not allow you to claim bonuses if you are using Neteller. This decision was taken in most cases for security reasons, as it used to be relatively easy to duplicate accounts and claim the same bonus several times. Neteller sports betting customers need to be aware of this, as it might alter their choice of bookmaker. Bonuses are a big part of a bookie’s offer to potential customers, after all, and not being able to claim them reduces the appeal of signing up for an account.
If you want to check to see if a bookmaker allows you to claim bonuses when using Neteller then read our bookmaker reviews here at Betastic. We include full details about the available payment methods in all of our reviews. You should be able to find out all you need from us, but, if you are still unsure for any reason, check with the bookie themselves. The customer service team should be able to answer in seconds if you ask them when you can claim bonuses when using Neteller.
As can be seen, using Neteller as a payment method offers convenience and flexibility, as well as providing you with the means to exert more direct control over the way you fund your betting account. Offering superb levels of safety and security, Neteller helps you to keep your spending under control, meaning that it is easier to keep an eye on how much money you spend on betting. Overall, Neteller is just the kind of versatile payment method that sports bettors need. Still want to compare payment methods? Read our Paysafe betting and Skrill betting guides for in-depth information.
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