Welcome to our guide to betting and funding your account using the Neteller e-wallet system. Over the course of this article we are going to talk about the popular Neteller system and find out its advantages and disadvantages, which bookmakers accept it and which do not, how reliable it is, and whether it makes financial sense for you to use it as a funding method for your bets.
We will compare Neteller against other options out there on the market and see whether it is one that will suit you for your betting needs. By the end of this article, you should understand whether it is a good choice for you, why other people use it, and how safe (or otherwise) it is. We’ll also clue you in on whether there are charges to be paid for using Neteller for your sports betting.
This independent guide is intended to offer the best possible information to people who wish to use Neteller betting sites, and should provide you with an idea of whether this is the funding method you should use, or whether you should look for an alternative. So, let’s start by looking at what Neteller is and how it is used by its fans.
Neteller is an e-wallet system that is used as an alternative to credit, debit and cash cards for online payments. It is a British-developed system that is used to transfer money to and from merchants. You’ll be pleased to hear that merchants signed up to Neteller include a number bookmakers. Neteller owners, Paysafe, have made the e-wallet sports betting-friendly, and it’s also popular with Forex trading firms and social networks.
More recently, with the development of the Neteller card and, latterly, the Net+ card, Neteller has also became an alternative method of making a card payment for people who do not want to directly use a bank account or credit card to make a payment online. The Net+ card is a way of making payments from a Neteller account to merchants who do not accept direct Neteller payments; it functions much like a standard debit card in this regard.
The development of the virtual Net+ card, for online use only, is another way for customers to use their Neteller account to make payments, with the advantage that — because they do not carry a permanent card number — they provide a high level of protection against card fraud. Despite this nice innovation, many bookmakers accept direct payments from Neteller accounts, and this remains the most common way of using Neteller to fund a betting account.
Which Bookmakers Accept Neteller?
Top Three Operators For Neteller
The advantages of Betway for people who want to enjoy the Neteller sports betting experience are fairly clear. It is ahead of most of the competition when it comes to how quickly you can withdraw your winnings; while many bookies will take two days or more, some Betway users will see the funds in their Neteller account within two hours, and all customers will receive them within 24 hours.
While Betway do have a higher minimum withdrawal and deposit than some providers, at £10 for each, they’re certainly not the highest of all the bookies out there, which means you don’t have to deal in high amounts to get the best out of the service. Most gratifyingly of all, you can deposit and withdraw at Betway through Neteller without having to pay any extra fees.
William Hill’s offer to Neteller users is an attractive one — just like Betway, there are no additional fees levied on the bettor for depositing or withdrawing. In addition, withdrawing is a speedy process with the long-serving British bookmaker. Any withdrawal request made by a Neteller user will be fulfilled within 24 hours; although they don’t specify a minimum time period, it’s fair to conclude that you should see your money sooner rather than later.
There is one area in which William Hill has a clear advantage over their younger counterpart— you can withdraw to a Neteller account as long as you have at least £5 in your account. This is half of what Betway specify and just 25% of what is expected by some of the other names in the market. In short, William Hill are a bookmaker worth trying if you want to use Neteller to fund your account.
The Swedish bookie is an ideal place to turn to if you’re a Neteller customer looking to get off to a gentle start with your initial deposit. Their minimum deposit through Neteller is just £5, half of what you’re expected to put in with their more reputed rivals. For a withdrawal, you’re going to need to have at least £10 in your account, but there is good news when it comes to fees — you won’t be charged a single penny to deposit or withdraw your cash.
Where Unibet really triumph over the names above — and all of the others in the market, too — is in the speed with which you can withdraw. When you put in a request to access your funds, they’ll show up in your Neteller account within 12 hours. That 12 hour withdrawal is twice as fast as even Betway can promise, and even more impressive when compared with the four full days you may be waiting with some bookies.
So, that’s the top three, but you’ve got plenty of choice if you wish to explore additional options also. There are very few bookmakers around who don’t accept Neteller. Some will charge withdrawal fees, but they are in the minority. As a result of the widespread acceptance of Neteller, you should be pleased with your experience using this popular e-wallet to bet with the mainstream bookies.
Are There Any Charges To Use Neteller?
For the most part, you will not face fees when depositing with Neteller. Neteller themselves will not charge you, and there are rarely major charges at the bookmakers either. You will tend to find that where there are depositing fees, these are generally low. However, it’s always worth checking before depositing; bookmakers vary, so it’s always worth a quick read of their T&Cs.
When it comes to withdrawing, the matter is far more clear cut— and sadly, not for the better. There are numerous bookmakers who will charge you a fee for withdrawing to a Neteller account. Some will allow one fee-free withdrawal per month, while others will charge a percentage on each transaction just for the privilege of withdrawing your own winnings. Furthermore, some will also charge more or less depending on the amount being withdrawn, so keep yourself aware of limits and amounts; don’t pay a premium for small withdrawals.
If your chosen bookmaker is one of those who charges for each withdrawal, or one who allows a single fee-free withdrawal per month, then it is wiser to make fewer withdrawals. With bookies who allow one fee-free withdrawal per month, be patient and go for a single withdrawal at the end of each monthly period. This means you don’t have to pay a fee each time, which is far more cost-effective in the long run.
What Are The Advantages Of Neteller?
#1: Using Neteller to fund a betting account is that you can avoid having to link your bank account to the bookmaker. For customers who are worried about fraud or being hacked, this is a much more secure way of making payments. As a security-conscious provider, Neteller has several layers of security to make sure that you are the only one using your account. Given the sensitivity of your information when it comes to betting sites, this is a vital consideration.
#2: Neteller is also a quick way of depositing in a betting account – as soon as you make a deposit the money will show on your balance. Rather than waiting hours, or even days as is the case with some methods, you can go straight to play once you have confirmed the transaction. This speed and convenience is a major reason why it is favoured by so many players, and is made possible by Neteller dealing with the security aspect as detailed above.
#3: Many players like Neteller bookmakers because they only let you use money you have already deposited in a Neteller account. While betting with a credit card it is possible to build up debt chasing your losses; if you are only ever betting with money that is yours to deposit then your spending has a definitive end point. Given the temptation of making “one more bet” to turn your luck around, this limitation could be very useful to you.
Conclusion: Security, convenience and control are always important when making financial transactions – when running a betting account, they are utterly essential, and Neteller provides these benefits.
What Are The Disadvantages Of Neteller?
#1: One disadvantage of using Neteller with your betting account is that you may find yourself having to pay to withdraw money you have won. Even if you ensure that you make fewer withdrawals, so as to pay fewer fees, this can be frustrating as – unless you have a VIP account – there can be a low monthly limit on how much you may withdraw. Given that Neteller also charge you to withdraw from their account to your bank, this can feel unreasonably punitive.
#2: Although the level of security is high with Neteller, nothing is 100% secure, and you are much more protected from fraud by some other funding methods. Compared to using a credit card, for example, you may be shocked by how little help you receive if you are the victim of fraud on your Neteller account. This is a legitimate worry when it comes to potential high-volume transactions, and has made some Forex traders as well as bettors reluctant to use Neteller.
#3 – Due to withdrawal fees and limits, there is little advantage to having money in Neteller if you are not planning to immediately use it for betting. It will not gain interest, and Forex aside there are few other applications for the account. While it is true that you can apply for a Net+ card, there are some fees for using these and you’ll pay way over the odds if you use one to withdraw cash.
Conclusion: It rankles to have to pay for the purpose of withdrawing your own money, and the lack of use outside betting is also a frustration.
Full Test — Our Experience Using Neteller Payment Method
The process of depositing in a Neteller account is relatively straightforward, as the service takes you through it step-by-step, and there are plenty of different transfer methods, each with different timeframes and (potentially) fees. For example, UK users can make a Fast bank transfer for free, which will take up to two hours, or they can pay by credit card. The credit card option is more immediate but incurs a charge of 1.75%.
In our experience, there were no issues with funding our Neteller account – an initial test deposit made using the Fast bank transfer system showed up in the account as promised within two hours. In actual fact, it was much quicker than that, showing up after less than twenty minutes. A similarly-sized deposit, made with a credit card, did indeed show up instantly. However, that did make us wonder whether there was much advantage to paying for a more “instant” method, considering how fast the transfer was.
Nonetheless, we were impressed with how foolproof the entire system was. To put money in our Neteller account, we clicked “Deposit”, and from that point on were given easily understandable onscreen prompts that took us from start to finish. The process of funding our account took, in total, approximately five minutes (not counting the waiting period for the money to show up from the Fast transfer).
Using our Neteller account to fund a betting account was, again, simplicity itself. True to Neteller’s word, the deposit did show on our bookie balance immediately. While we obviously couldn’t replicate this with every single bookmaker, it’s worth knowing that there were no delays on Neteller’s side. This makes it an ideal service for funding your account when you wish to make a bet in a hurry. All in all, we had no complaints about Neteller’s payment method from either a reliability or a promptness point of view.
Is Depositing With Neteller Safe?
Depositing to an online betting account with Neteller is about as safe as it could possibly be in theory, and in our experience it has been 100% safe. While it is true that nothing can be 100% safe 100% of the time, Neteller have gone to significant lengths to ensure that every transaction made using their service is secure. By using encryption, a password system and requiring users to upload a form of photo ID, they have made their system hard to break. As long as you practice good housekeeping on every device you use to make transfers, we don’t see where any issue could crop up.
What Are The Alternatives To Neteller ?
Neteller’s primary competitor in the e-wallet market is Skrill, formerly known as Moneybookers. Between them, these two services are far and away the most providers of this service, and among the most commonly-used alternatives to paying by credit or debit card.
Skrill and Neteller perform largely the same role: offering an extra step of security and anonymity between your bank account and your betting account, and each has its own strengths and weaknesses. While Skrill is, for the most part, cheaper for the user, there are signs that Neteller offers a higher level of customer experience. Additionally, Neteller is more widely accepted worldwide. Some bookmakers also accept Paypal, although not as many as the former two.
With UK bookmakers, however, we have tended to find that Neteller and Skrill are accepted interchangeably. Indeed, as both are owned by Paysafe betting sites are usually comfortable with either. Naturally, we cannot speak for all bookmakers, and it is worth checking before you sign up to any bookmaker to see what payment methods they accept.