Neteller is an e-wallet that is part of the Paysafe Group. This holding from the United Kingdom also houses the popular online payment wallet Skrill and the Paysafe prepaid card.
Neteller has been around since 1999, when there were no legal casinos yet and when online depositing and cashing in an online arcade was still very risky. In addition, an online payment was then only possible via a credit card. However, this meant that a player had to share sensitive and personal information with an illegal casino and often walked on thin ice with this.
The arrival of Neteller created a secure payment system, which also offered some anonymity. It was therefore no big surprise that Neteller quickly acquired a positive reputation and is now known as one of the most popular payment systems.
How does the Neteller payment system work?
First of all, you open a personal account on the Neteller website. You then deposit a certain amount into this account. This can be done via various methods, such as iDEAL and bank transfer, but also with, for example, bitcoin or another crypto currency.
From this account at Neteller you can at the online casino where you wish to play the player account that you have at this casino, free of charge with player credit.
This transaction must be verified by telephone or e-mail. This way Neteller is sure that it is not about fraud or abuse. After the verification you can start playing immediately, the money will be in your player account of the casino within a minute.
Neteller also pays out
It is perfectly possible to cash out obtained winnings safely and for free.
An additional advantage for customers at different casinos is that you can easily transfer money from one online casino to another.
This is done directly and should not be done through a bank.
What are the benefits of paying with Neteller?
Neteller is a secure payment system. No privacy sensitive information is required to be disclosed to the casino and additional identity verification is required as an additional security measure.
Depositing and withdrawing money is quick because no bank intervention is required.
What are the disadvantages of paying with Neteller?
Neteller is not available in all countries. For example, payment via a Neteller e-wallet is not possible for players from Kazakhstan, USA, Yemen, Togo, …
The second disadvantage is the high deposit and withdrawal fees. To be clear, these are not the deposits and withdrawals from the casino itself, these are free!
But the biggest disadvantage is that the Belgian government forbids paying with Neteller for all Belgian online arcades, casinos and bookmakers.
This measure aims to better protect players with a gambling addiction. This measure has been in effect since June 2019 and undermines the strong position that Neteller has developed over the past decades.