Neteller is a popular online payment method which allows customers to send and receive money quickly and safely around the world. It is one of the biggest money transfer businesses as it is responsible for millions of transactions on daily basis. The service functions as a standard e-wallet and is easy and convenient to use.
The company was established in 1999 and was originally based in Canada. Several years later, Neteller moved its headquarters to the Isle of Man and since then, its services have been authorized and regulated by the UK Financial Conduct Authority. This by itself serves as a sufficient guarantee Neteller’s customers are well protected against identity thefts and other fraudulent activities.
Today, Neteller ranks high as one of the most widely-used methods to pay for online purchases and has millions of customers from hundreds of countries around the world. The e-wallet, provided by the company is available in several different currencies and is accepted by thousands of online merchants. Due to the convenience and flexibility it offers, Neteller enjoys a tremendous popularity among sports bettors as it presents itself as one of the fastest and safest methods to load money into one’s sports betting account. Besides, this payment method is accepted by many established online sportsbooks. The e-wallet has plenty of other advantages to offer to punters. You can find more detailed information on how it works below.
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Registration with Neteller
One of the biggest advantages of using Neteller as a payment method in web-based sportsbooks is that the e-wallet is accepted by almost all online gambling sites and bookmakers. Also, this method allows for time-efficient and reliable money transactions to and from your web-based sportsbook of choice. Naturally, registration is required but it doesn’t take much time and is easy to complete. Moreover, registering with a Neteller account is free of charge.
Nevertheless, it should be mentioned that there are several types of accounts, available at Neteller and the first one is the regular Express Account. While you can use it to fund your betting account and cash out your winnings, the Express Account has a few limitations. Meanwhile, punters may choose to upgrade to the Extended Account. The Express account allows bettors to deposit and withdraw only €2,850, while with the Extended one, no such limitation exists. With the regular account, different limits are imposed on the amounts you can deposit, depending on the payment method you’ve chosen to load money into your Neteller e-wallet.
But let us proceed with the registration process. Punters will be asked to provide a valid email address as well as their names, street address, date of birth and phone number. Note that in many cases the email you’ve registered with at Neteller must coincide with the one you’ve used to sign up for your sports betting account. In the process of registration, you are expected to select your currency as well. Please select carefully and choose the currency you use the most, as it cannot be changed later on. Then, you will be given a unique Neteller ID. Expect to receive an email to confirm your registration.
Once you’ve confirmed, your Neteller account is ready to use for sports betting, but make sure you fund it with some money first.
At this point, you might consider upgrading your Express account to an Extended one. For the purpose, you are expected to provide scanned copies of your drivers license, passport or ID card and another document to confirm your address (for example you can scan and send a copy of your last electricity bill). A week or two afterward, you will receive a phone call by a member of Neteller’s support team. They will ask you a couple of routine questions to verify your identity – what is your date birth and email. And that is all, now you will have an Extended Neteller Account. This will enable you to apply for a prepaid Net+ card (which is provided by Mastercard). You can use the card to cash out your sports betting winnings from ATMs. The plastic Net+ card is available in a total of 8 currencies.
Deposits with Neteller
It goes without saying that before you attempt to use the Neteller account for placing bets on your favorite soccer team or tennis player, you must fund it first. There is absolutely no need to worry – the procedure is extremely simplified, not to mention completely secure.
There are many different ways to fund your Neteller account – you can link it to your credit/debit card, to another e-wallet (like Skrill and Bitcoin, for instance), use prepaid vouchers by PaySafeCard or opt for local bank deposits and bank wire transfers. One important thing to remember is that processing fees vary depending on the method you fund the Neteller account with. For example, if you fund it via a credit/debit card or Skrill, your processing fee will amount to 1,9% of the sum you transact; if you opt for PaySafeCard, the fee might be 7%! So make sure you take this factor into consideration and choose wisely.
Naturally, the next step is to load some money in your sportsbook’s account using the e-wallet. Fortunately, this process is beyond simple. You only need to log into your betting account and click on the Banking menu. Then select Neteller from the list of deposit options, fill in your e-wallet ID (or email), specify the sum you want to transfer and confirm the transaction. The money will be transferred instantly and you can start placing bets on your favorite teams or athletes.
Withdrawals with Neteller
What’s so great about using Neteller’s e-wallet is the fact it allows you to withdraw funds from your sports betting account as well. However, punters should first verify their Neteller accounts in order to process withdrawals. The cash-out process bears a close resemblance to depositing via Neteller.
In a similar fashion, punters are required to visit the sportsbook’s Banking section and request a withdrawal by selecting Neteller from the menu. The sum you wish to withdraw from your betting account needs to be specified. The last step is to confirm the withdrawal. Bear in mind, you should have upgraded to an Extended Neteller account if you want to be able to withdraw greater amounts of money.
The main difference between depositing and withdrawing with Neteller is that cash-outs take longer periods of time to process, i.e. they are not instantaneous. Again, the time it takes to complete the transaction from your e-wallet to your bank account or card differs. Bank transfers take 3 to 10 business days to complete, while cheques and bank drafts require between 2 and 21 days. If you demand greater dispatch, our suggestion is to apply for the Net+ card. The money transfer from your e-wallet to the Net+ card is instant and you will be not be charged with any extra fees.
As the company is committed to providing the best customer service out there, Neteller accounts can easily be accessed via portable devices such as smartphones or tablets. Neteller’s official website is mobile-responsive which basically means bettors can access their accounts directly from the browsers of their mobile devices. What is more, the website is very well adapted to mobile access and works seamlessly on such devices. Please note that at the present moment Neteller does not have a downloadable mobile application, but hopefully one will be available in the near future.
One interesting functionality offered by Neteller is the so-called “Two-step Authentication”. Basically, it enables you to coordinate your Neteller account with your mobile device, be it Android, Blackberry or iPhone. To do so, punters should scan the QR code (you will find it in your account’s settings) to set up the Google Authenticator and enable the Two-step Authentication. This will make it possible for you to sign into your Neteller account or on sportsbooks’ cashier pages with your unique 6-digit authentication code, instead of using your e-wallet ID/email.
Neteller is generally considered a low-cost and convenient payment solution by most punters as it enables them to process transactions in a secure and relatively time-efficient manner to and from their sports betting accounts. It is very important to mention that while the fees are for the most part affordable, they might differ greatly, depending on the method you use to fund your Neteller account as well as on your country of residence.
Those of you, who deposit into their Neteller accounts via Visa, Mastercard, Skrill and Maestro will pay fees ranging between 1,9% and 4,95% of the deposited amount. Punters, who fund their e-wallets with PaySafeCards will have to pay between 5,5% and 9,9%. Depositing via the following methods is free of charge: Euteller, Trustly, international bank transfer and local bank deposits. Paying with Neteller at online merchants or depositing funds into your sportsbook account is also free of charge.
Fees of 3,39% are imposed whenever a currency conversion is necessary. Punters must make sure they use their Neteller accounts at least once every 14 months and retain some balance into the e-wallet. If not, they will be charged with an inactivity fee, which amounts to $38 or the equivalent in your currency. After 38 months, inactive accounts are automatically closed down.
Yet another reason why Neteller ranks so high in the list of payment methods is that it offers an extremely high level of security. First of all, punters who use this e-wallet sign into their Neteller accounts with their emails or IDs. As no personal and financial information is disclosed to third parties (i.e. to merchants and web-based bookmakers), there is no need to worry someone will obtain your bank account number.
Additionally, the payment platform keeps customers safe by employing up-to-date anti-fraud tools and security features. Each account and the information it contains are heavily encoded by the latest 256-bit encryptions and are protected by reliable firewalls. Regular backups are performed to ensure customers’ transaction history is safe at all times. Sports fans can rest assured their money is in good hands – the company holds their accounts’ balance in bank trust accounts to make sure the money is always secure.
Advantages of Using Neteller
It is not difficult to see using Neteller to fund your sports betting account is beyond beneficial. First off, registration is very simplified and easy to complete, not to mention free. The e-wallet provides punters with exceptional convenience and flexibility when managing their betting funds.
One of the biggest advantages of Neteller stems from the fact this payment solution is accepted by a staggering number of web-based sportsbooks, including some of the biggest names in the industry like bet365, William Hill, Ladbrokes, Betway, and Betfair, to mention just a few. Deposits to your betting account are processed within seconds so you can back your favorite team right away – very important, especially when you are placing bets on the In-Play markets.
Furthermore, Neteller is mobile-responsive as we’ve mentioned earlier. This means punters can easily transfer money into their betting accounts any time they choose, regardless of their location. You can fund your sports betting account and place your wager while riding on the bus or waiting for the train.
Of course, the greatest merit of managing your funds via Neteller is the outstanding level of security this payment method offers. There is no need to worry you will become a victim of any fraudulent activities. Your personal and financial details are safe and sound and will never be revealed to third parties when transactions are processed.
Disadvantages of Using Neteller
When it comes to Neteller very few disadvantages can be listed. Overall, this is one of the best online payment solutions we could think of. Nevertheless, punters from some countries report they are displeased by the fees imposed on their transactions. This is especially valid for those, who choose to fund their Neteller accounts via PaySafeCards as the fee for such transactions amounts up to a staggering 9,9% of the sum you process. Indeed, one cannot help but admit such a fee exceeds the reasonable limit.
Things are not much different with withdrawals via Neteller. If you decide to withdraw money from your Neteller account via a cheque or a bank draft, you should prepare yourself for a fee of €7,50. Even if you apply for a Net+ Mastercard, you would have to pay €4,00 each time you withdraw funds from an ATM.
The time required to complete a withdrawal may also be viewed as a disadvantage. In some cases, punters are forced to wait for three weeks and more before they receive their winnings.
Countries Where Neteller is Used for Sports Betting
Despite its weak sides, Neteller remains one of the most commonly-used methods to fund your sportsbook account or withdraw the profits you’ve accumulated through betting. Even more so, if you consider the great number of web-based sportsbooks that accept it as a method of payment. What makes Neteller so convenient is the fact you can keep some of the money you’ve allocated for betting in your e-wallet and transfer it to your sportsbook account quickly, whenever an appealing promotional offer is available.
What further adds to the convenience of using Neteller for this purpose is that the e-wallet is available in an impressive number of countries. Punters from about 200 countries can use it to fund their betting accounts. In addition, the e-wallet works with a total of 26 different currencies, so make sure you choose yours if available. Besides, there are 15 languages to choose from on the website.
Please note Neteller provides full service in some regions only, whereas in others, the service is limited. Customers who reside in countries with limited service are allowed to register with a Neteller account, but their deposit and withdrawal options will be limited. What is worse, limited accounts cannot be used to process transactions to web-based bookmakers or other gambling websites.
The list of countries and regions with limited Neteller services includes Macao, Hong Kong, Canada, Singapore, Turkey and Israel. Punters from these countries and those who reside there temporarily will be able to access their Neteller accounts, but will fail to process a transaction to any gambling-related websites, sportsbooks included.
Then again, there are 33 countries where Neteller is unavailable altogether, which means residents cannot even register with an account. Some of these include China, Cuba, Yemen, Puerto Rico, Afghanistan and Libya. Please visit Neteller’s official website for a full list of the restricted countries. Sports fans who happen to travel to any of these locations should feel free to contact Neteller’s support team and their accounts will remain open during their stay.
And finally, there is a list of about 14 countries such as North Korea, Sudan, Syria and Myanmar, where Neteller’s services cannot be accessed at all. Such countries ban their residents from using the e-wallet mainly due to their governments’ legislation. Punters who end up in one of these countries for one reason or another will be able to use their Net+ prepaid Mastercards but will fail to access their Neteller accounts.
Last but not least, before you open an account at any bookmaker, please make sure you are signing up with an established and trustworthy sportsbook. A reliable betting provider stands out with greater transparency and does not shy away from openly displaying its license numbers as well as the name of the regulatory body that issued the license. If you are bent on depositing via Neteller, visit the bookmaker’s website first and check whether this payment solution is listed in the banking options.