When it comes to nailing online transactions, NETELLER is definitely one of the biggest names out there. In fact, it is one of the most common names that you would always see included in casinos and online shops’ payment options. This is simply because NETELLER is a specially designed service for e-money transfer purposes. Available in 15 languages, it is used by tons of merchants from all over the world like social network and forex trading companies.
Of course, it is also used by a lot of individual users to ensure a fast and simple transaction. Thanks to its reliability, NETELLER is now known as one of the biggest independent money transfer businesses in the world. Thus, the company continues to process transactions every year that are worth billions of dollars. Due to its offered services and benefits, it is now used by a wide range of businesses from different industries.
The business is operated and owned by a British company – Paysafe Financial Services Limited. Read on to learn more about NETELLER’s history and the things it got under its sleeves. (Article continues below the list)
Best Neteller casinos
This list covers all the best Neteller casinos in the UK. The position of the casino is defined by the general score of the brand, which our team decides based on several different factors.
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In 1999, NETELLER was founded in Canada by Paysafe Financial Service Limited which is known as a British global payments company. With the innovation in mind, Paysafe Group aimed to provide an improved payment method that surpasses the traditional means. So from Canada, the company’s based was then moved to the Isle of Man after 5 years. In case you are wondering, NETELLER’s parent company – Paysafe Group is listed as a reputable Authorized Electronic Money Institution.
The company aims to help its registered customers to have a reliable place where they can keep their withdrawn money. In this case, NETELLER proved to be worthy of people’s trust when it comes to providing private and secure transactions. The introduction of NETELLER allowed various businesses specifically those with online stores to offer an additional payment option. Of course, not all traditional methods actually work when it comes to online businesses.
Thus, this e-money transfer service fits the job perfectly to fill the gap between any business and its customers. The convenience offered by its services encouraged more and more customers worldwide to register an account. Now, NETELLER has millions of customers from around the globe that either receive or send payments. Whether they are doing transactions with online websites or simply sending money across the world, the process is very simple.
With easy access to ATMs nowadays, NETELLER users can finally withdraw their money in an instant via ATMs. Meanwhile, other customers can enjoy instant access to their money via millions of online locations and point-of-sales worldwide. But just to be clear, NETELLER is not a bank where customers can keep their money and earn interest. Customers will not increase their money even if they decide to keep it in their NETELLER account for a while.
Instead, it was designed to offer a convenient means of accessing digital money for online purchases, or withdrawals. It even improved its services when it acquired Skrill (Moneybookers) in 2015 which has been in the industry since 2001. Now, both businesses are owned and operated by the same company Paysafe Group. So if you wish to transfer money for personal or business purposes, you may do so smoothly with this service.
As mentioned earlier, NETELLER is operated by Paysafe Financial Services Limited. At the same time, it is a subsidiary company owned by Paysafe Group Limited that holds a company number 109535C. Thus, it is fully authorized by the Financial Conduct Authority to issue electronic money under the Electronic Money Regulations of 2011 (900015). Since NETELLER is authorized by the Financial Conduct Authority to operate in the UK, the remains a well-sought payment method.
As a matter of fact, the company guarantees you the highest standards on every part of its business and services. This is thanks to NETELLER’s leading electronic and physical security measures. In addition, the company has Anti-Money Laundering protocols that guarantee its members’ safety against fraud and identity theft crimes. Moreover, NETELLER allows holding more than 100% of on-deposit, in-transit, and even un-cleared funds.
Each type of fund is kept separately on different accounts to provide an additional layer of protection to members.
If millions of users already entrusted their money on NETELLER, you can now wipe away your worries and join in. The company offers a “stored-value account” which can allow you to manage and access your money whenever you need it. It doesn’t matter whether you are in or out of the country. As long as you have a NETELLER, there is always a way to access your digital money and cash out.
But before we focus on its famous service which is the money transfer, let’s make sure to get you an account first. With 3 simple steps, you can make an account on NETELLER without a sweat. So, follow these steps so you can maximize its services:
Sign up for a free account
Who can resist such an opportunity to make smooth transactions using a free account? We certainly can’t so this is the first thing you need to do to take advantage of its full service. Besides, it will not take you 30 minutes to sign up since you only need 5 minutes or less. That’s all the time you need to take your payment experience to the next level.
Upload your funds
Once you have successfully created an account, the next thing to do is to fund your account. You can fund your account using multiple ways so be sure to prepare your pockets.
Send and Spend Using NETELLER
Last but certainly not least, it’s about time you spend some to shop or send money to someone.
Now, these are the more detailed look on the 2 things that you can do with NETELLER:
Instant money transfer
Without this awesome service, there’s nothing you can withdraw in your bank account or Prepaid MasterCard. With this feature, almost anyone in the world can send and receive money in an instant. Guess what, you don’t even need to have a NETELLER account to enjoy these benefits. However, there are certain limitations in transactions unless you have a verified account which is not actually hard to gain.
Once you’ve successfully made and verified your account, sending money would be as easy as pie. The only thing you need is to make sure that your account is funded so you can send money. To do this, you simply need your recipient’s email to send a minimum of £10 and a maximum of £50,000. In case your recipients don’t have NETELLER accounts yet, that’s not really a problem. The company will automatically notify your recipient via email to let them know that their money is ready.
In case you want to send money directly to your recipients’ mobile money account or bank account, it’s now possible. This is all thanks to Skrill which was bought by NETELLER’s back in 2015. Now that you know how hassle-free it is to send money, it is also easy to receive with NETELLER. Once the money was sent to you, it will be deposited and available on your account in an instant.
Can’t pay with cash? No problem! NETELLER can be your saving grace whenever you need to pay online transactions as long as your country isn’t restricted. As an e-money transfer service business, it also allows hassle-free withdrawals once you received money with its service. Even if check, debit cards, and credit cards don’t work, you can use NETELLER to pay for online transactions. Thus, you can pay real money on thousands of websites without actually holding one in physical form.
deposit any amount of money you want in your NETELLER account and you are ready
to go. There is no need for you to pay sellers or anyone you transact with in
person or visit post offices. In case your credit card is not available, there
are lots of options that you can use to fund your account. These options
include the following which includes a 2.5% transaction fee:
- Banco de Chile
- Banco do Brasil
- Pay by Mobile
- Boleto Bancario
- Empressa de Energia del Quindio
- Fast Bank Transfer
- International Bank Transfer
- Local Bank Deposit
- Mister Cash Instant Voucher Payment
- Pago Facil
- Przelewy 24
- Quick Bank Transfer
- Rapi Pago
- Red Link
- VISA Debit
- Yandex Money
When it comes to withdrawals, these are the options you can choose from and their required transaction fees:
- Bank Transfer = £10
- Member Wire = £12.75
- Merchant Sites = 0%/ Free
- Money Transfer = 1.45%/ £.50
How its purpose of deposit works?
Unlike other e-money transfer services, NETELLER has a pretty unique way of putting emphasis on specific purposes of deposit. When it comes to depositing money to fund your account with VISA, you have to choose the purpose of funds. This might seem a little weird and unnecessary for others. However, you’ve got nothing to lose here since it’s the other way around. Depending on how you want to use your money, you can either put your money on gambling or non-gambling purposes:
As its name suggests, all money that goes under this purpose is exclusive for your gambling purposes only. With NETELLER wallet or Net + card, you can use your gambling money to make deposits on any gambling site.
Unlike the latter, all deposited funds under the non-gambling purpose can be used for most payments except for gambling. You can use your deposited funds under this category with your wallet or Net + card from NETELLER. With these funds, you can purchase and pay for various items and services online.
Once you deposited money under the gambling purpose, you are not allowed to use it on non-gambling purposes. In a way, this can help you avoid overspending which can be quite a common issue among casino players. So even if you are tempted to use your remaining funds from gambling purpose for non-gambling, you can’t. The same goes with the deposits under the non-gambling purpose.
Apparently, online casinos are not the only ones that provide VIP programs that can entice customers. NETELLER also has its own way of keeping its customers happy with a VIP Program. Of course, being a VIP member here comes with a lot of perks which include the following:
- Up to .5% monthly cash back
- Free of charge withdrawals
- Multiple accounts with different currencies
- As low as 1% foreign exchange fee
- Discounted ATM withdrawals and deposit fees
- Flexible limits in transactions
- Bonus reward points from NETELLER
Remember, these perks can be credited into your account only depending on your VIP level.
Pros of using NETELLER in gambling
Once you transact with casinos using NETELLER as your payment option, you no longer need to divulge your personal information. Though your name may appear to pass the casinos’ KYC standard policy, some casinos might still require your financial information. In this case, you can use this payment option to avoid disclosing your financial information on casinos. It will not only make the process faster but also give you a layer of protection against hackers.
In addition, NETELLER has a two-step authentication which requires a code that should be entered with your email and password. This code will allow you to sign in to your account or any partner merchant site for secure transactions. Thus, you can make all the transactions you need without worrying so much about anyone getting through your account’s security.
Simple and transparent fees
We all know how fees can be a little frustrating and shocking at the same time. This sometimes happens when customers found out that they’ve just been charged hidden fees after each transaction. Wherever those fees were hiding, it’s definitely not something any customer would want to have. Not to mention if they don’t have that much budget to pay for hidden extras. Thus, NETELLER makes sure that everything is transparent and simple.
In this case, the only wallet currencies that NETELLER accept are EUR and USD with 1.50% Crypto fee buy and Crypto fee sell. Meanwhile, other currencies have 3.00% Crypto fee buy and Crypto fee sell. Check out these 2 other fees that its users encounter:
Foreign exchange fees
For currency conversions, NETELLER adds 3.99% to the average daily interbank rate in the market. The rate is published by its third-party foreign currency data provider only and retained as their foreign exchange processing fee. This protects the company from any exchange rate fluctuations that occur regularly. However, VIP players are only charged 1% foreign exchange fees as part of their perks.
As long as you’re using your NETELLER account, you don’t have to pay for administrative fees. You can use your account for free as long as you keep it active for every 12 months. Thus, you have to as least log in your account or make a single transaction. If you failed, you have to pay a monthly fee of £5 which will be deducted from your available funds.
Cons of using NETELLER in gambling
Though there are lots of good points to complement with NETELLER, we can’t let you go without knowing its cons.
Apparently, the company’s advantage could also lead to its disadvantage since everything is stated loud and clear. For most players, the 1%-5% fee on every transaction is too big since deposits and withdrawals are subject to fees. With fees coming with every transaction, regular players have a higher chance to become bankrupt.
Unless you have a verified account, you can’t transfer a huge amount with NETELLER for gambling or non-gambling purposes. Just like other services, it also has limitations when it comes to the minimum and maximum amount to transfer. Unfortunately, unverified accounts can only deposit/withdraw a maximum of £100 while verified accounts are allowed up to £50,000.
Now that you already know the nitty-gritty about NETELLER, you are ready to have your own account. Whether you are a regular online casino player or not. Given the information above, it’s a very flexible e-money transfer service that you can use for gambling and non-gambling purposes. Most importantly, it is user-friendly and very accessible on various devices.