Neteller is an online payment processor which is almost universally accepted and used in the online casino world, yet relatively unknown outside of it. Like many online casino websites, Neteller headquarters are in a very small jurisdiction – the Isle of Man. This both protects it from the restrictive laws about online gambling which are found across much of the developed world, but also makes contact difficult and trust hard to establish. When you’re setting up your online casino accounts, should you be making deposits or withdrawals via Neteller? We check it out today to see if it will meet your needs.
How Does Neteller Work?
Neteller describes itself as an ‘eWallet’. It works in the same way as a PayPal account – you deposit money into it, and the online casino you are purchasing from accesses funds from your Neteller account so that you don’t have to share your financial information with them.
Neteller Deposits and Withdrawals
There are literally dozens of different ways to put money into your Neteller account. The most common for customers in Australia would be:
- POLi – online internet banking option
- Maestro debit card
- Directly from your online casino site. Note that this deposit method doesn’t have any associated cost (on the Neteller end).
Is Neteller Safe?
Neteller is one of the most widely offered options across all online casinos. It is generally regarded across the internet as safe – but there are some points about the service to keep in mind:
- Neteller requires identification verification to open a virtual credit card or prepaid card account, making the possibility of abuse less likely
- Your Neteller balance is considered ‘e-Money’, electronic money, and guarantee schemes do not necessarily apply to it. If you leave money in your Neteller account and Neteller becomes insolvent, your funds could disappear without warning.
- However, at the time of writing Neteller is liquid and its usage is growing – there are currently certainly no insolvency concerns!
- Withdrawals from Neteller can be a slow process – unlike the next-day processing offered by major banks and the 2-3 day processing offered by PayPal. If there were regulatory problems in the space of your withdrawal request, you could be left without cash.
- Accounts which have the hallmarks of fraudulent activity on them can be blocked without warning – and for some customers, this was unexpected and unwarranted.
Neteller is a fantastic payment processor for your online pokies and online casino transactions, but as with so many other things in life, diversification is the key to safety! Don’t keep all your online pokies winnings just in your Neteller account – most casinos accept well over a dozen forms of payment, so try something new once in a while!