Here, we will take a closer look at the popular payment method that is Neteller. After you have read this page, you will know a lot more about this widely accepted banking option. Furthermore, you will also know whether it is the best payment option for you. So, go ahead and get reading!
|Minimum Deposit||Maximum Deposit||Minimum Withdrawal||Maximum Withdrawal||Fees|
|Depends on Bookie||Depends on sportsbook||Depends on bookmaker|
Depends on bookmaker
No fees from the bookmaker side
Fees from Neteller’s side though
Should get your money within 24 hours
What is Neteller?
Neteller is a popular e-Wallet that allows its users to send and receive money in a variety of different currencies. The company was founded in 1999 in Canada and, back in 2004, they made the decision to move the company to the Isle of Man in the United Kingdom so that they could be closer to the European Market. They have since expanded and you will now find Neteller offices in London, Sofia, Montreal, and Vienna, and Neteller is now available to use in more than 200 countries. In fact, millions of people use this as their primary means of sending and receiving money securely. Due to its popularity, it is a banking method that you now find at the majority of online casinos.
How to Create an Account with Neteller
Creating an account with Neteller is something that is pretty straightforward to do. Below we are going to outline the process that you will need to go through in order to get yourself a Neteller account.
- The very first thing that you have to do is enter their website. If you want to change the language, then you can do so by going to the top right of the page. Once you have selected the language you want, click on the “Join for Free” option.
- You will be taken to a form where you will have to input information such as your email address, the country you are living in, and the type of currency that you would like to use. In order to avoid exchange fees, we highly recommend that you use the same type of currency that you use at the sportsbook that you have an account with.
- Once you have done this, click on “Continue” and you will be taken to another page where you will have to input information such as your first name, your surname, the address that you live at, the date you were born, your gender, and your mobile number. You will then be asked to select 3 security questions with answers. Click “Continue” and you will be asked to confirm your answers.
- If you are happy with your answers, click on “Continue” and you are now a Neteller account owner.
N.B. You will be provided with an Account ID and a Secure ID. We really recommend that you take note of these somewhere as you will require them whenever you want to log in to your account.
You Will Need to Verify Your Neteller Account
Before you have full access to your Neteller account, you will need to verify yourself. Until you have completed this process, you will have some strict withdrawal limits applied to your account. How do you complete the verification process? We will explain it below as clearly as possible.
Go to the settings section and enter the verification section. Once you are here, you should find “Option 2 Fast” link and click on it. You will then be taken to a page where you can upload photos of acceptable documents to prove your identity. We should note here that you have to have some money in your account in order to go through with the verification process.
What documents are accepted to prove your identity? Well, you can send them a photo of your passport, ID card, or your driver’s license. If you go for the driving license or ID card, then you will need to send them an image of the front and back. As well as this, you will have to send them a photo of yourself holding a white sheet of paper with “Neteller” written on it and the date.
Once you have completed this process, you will need to wait patiently for them to verify your identity. Some e-Wallets will also ask you to send proof of your address, but Neteller makes use of all the latest technology to do that for you. However, this technology is not available in some countries, so if this option is not working for you then you will have to upload the necessary documents to prove that you are living where you say you are. You can send them a photo of a bank statement or a utility bill to verify your address. However, it is important that it is not more than 3 months old.
If you follow their instruction to the letter, then your account with be verified pretty quickly.
When your account has been verified, you will receive an email to let you know.
How Do You Add Money to Your Neteller Account?
Once you have your account, the next thing that you will have to do if you want to use it to add some cash to it. When it comes to deposit options, there more than 30 that you can choose from. Below we have listed ten of the popular ones.
- Credit or debit card
- Bank Transfer
If, out of the above options, you believe that the bank transfer option will work best for you, then you need to pay attention to what we are going to tell you. When you are depositing using a bank transfer, you will be given the bank details of the account that you have to send the money to. You will also be provided with a reference number that you will have to add. If you do not add it, then your deposit will likely not be processed. Furthermore, with this type of deposit option, you might have to wait up to 6 working days before the money finds its way into your account.
Fees and Commissions for Neteller
When you are deciding which banking option to use, you should always take fees into consideration. There will often be withdrawal fees, deposit fees, exchange fees, and transfer fees in play. So, what fees will you find with Neteller? We reveal all below.
- Withdrawal fees: Withdrawing money from your Neteller account will cost you 1.9%, although it has been capped at 25 euros, which is quite high if you ask us.
- Deposit fees: Depositing money into your Neteller account can cost as little as 1% or as much as 8%. The amount that you will be charged is dependent on the payment method that you are using.
- Transfer fees: If you want to transfer money from your account to another Neteller account, then there is a 5% charge. So, if you are making a N10,000 transfer, you will have to pay N500 in fees. If you are sending money to someone that is using a different currency, then you will have to pay the exchange fees.
- Exchange fees: At the time of writing, exchange fees with Neteller stood at 3.99%.
Our Opinion about Neteller
In our opinion, Neteller is a good option for those who want to receive and send money online. Whenever you have to make a quick payment to somebody, Neteller allows you to do so within minutes and without a lot of fuss. The fact that Neteller provides all of their customers with plenty of deposit and withdrawal options is something else that we like about this e-Wallet.
Another great thing about Neteller is that they have an app that iOS and Android users can download to their devices. However, if you have a Windows or Blackberry device, there is no app available for you at the moment. However, do not be too upset as there is every chance that they will change this in the near future. The app gives you the option of checking your balance, withdrawing money, depositing money, and making a transfer. We download the app to test it out for ourselves and we found it to be very user friendly. You will come across no issues when using this app.
However, we do have an issue with them, and you can probably already guess what that is. That is right, we have an issue with their fees. The fees that they charge are higher than other e-Wallets out there such as PayPal and Skrill. However, if you have no issues with the fees that we just mentioned above, you will enjoy using Neteller.
What You Need to Know about Neteller
We humans are inquisitive beings, so asking questions is just something that comes naturally to us. Below you will find 4 questions that people frequently ask when it comes to Neteller.
What is the Minimum Deposit?
Just like with most payment options that you will read about on this site, the answer to this common question is that it all depends on the sportsbook that you have an account with. So, in order to get a proper answer to this question, you will have to check with your own bookmaker.
What is the Minimum Withdrawal?
Once again, this is another question that we cannot answer fully because it is something that also depends on the bookmaker that you have an account with. So, once again, if you would like the definitive answer to this question, you will have to get in touch with your sportsbook.
What is the Delay for Depositing or Withdrawing?
When you make a deposit with a bookmaker using Neteller, the funds will usually appear in your bookie account right away. When it comes to withdrawing money, your winnings should appear in your Neteller account within 24 hours.
Are There Any Deposit or Withdrawal Fees?
When you are depositing or withdrawing from your sportsbook account there will usually be no deposit or withdrawal fees if you are using Neteller. However, you will be charged to deposit money into your Neteller account as well as withdraw money from it.