Neteller Casino Guide
Launched in 1999 as an e-wallet specifically targeted towards online casino players, Neteller (also written as NETeller or NETELLER) has branched out to offer a number of online financial services. UK online casino players only need to concern themselves with the famous Neteller e-wallet. Accepted by the overwhelming majority of online casinos, at one time Neteller accounted for a whopping 80% of all online casino transactions. It was especially popular among USA players, but anti-gambling legislation in 2007 brought Neteller’s American business to a halt. Nonetheless, it has remained popular with online gamblers and is still used by millions of players in more than 180 countries around the world.
Using Neteller is incredibly cheap for online casinos, so in order to encourage customers to deposit and withdraw using Neteller, many online casinos offer bonuses on Neteller deposits. These bonuses aren’t huge, usually around 5%, but Neteller bonuses of 15% aren’t unheard of.
Neteller Advantages and Fees
Because making deposits and withdrawals at an online casino with your Neteller account is completely free, it can be one of the cheapest possible banking methods out there. However, it is important to note that there may be other charges associated with using Neteller which can add to the cost. It is free to top up your Neteller account either through Maestro or a local bank transfer, while other ways like MasterCard or Visa incur fees ranging from 1% to 1.75%.
Likewise, getting your money out of your Neteller account and into your bank account will cost you an additional fee of £5.90 for a bank transfer or cheque. Other possible Neteller fees include an inactive account fee which is triggered after 14 months of inactivity, or a foreign exchange conversion fee for any transaction which involves exchanging currencies. With the foreign exchange fee at nearly 3%, it is advisable to avoid this kind of transaction if possible.
NETELLER – The Casino’s Big Friend
Since Neteller is authorized and regulated under the Financial Services Authority, players get the peace of mind that their accounts and transactions are safe and regulated. Moreover, Neteller uses some of the most advanced encryption techniques to protect its transactions, making it perhaps the most secure deposit method out there.
Neteller takes the idea of security one step further by making new customers verify their identity before their account is activated. This process involves sending scanned copies of identification documents, as well as a picture, to Neteller when you first sign up for your account.
The advantage of this is that once your account is verified and activated, you are able to conduct transactions with extremely high limits so that you can cash out a big win all in one go.
Proving You Are Who You Say You Are
The think that can annoyng you at first is that to prove your identity before your account is even accepted, but you only have to do this once.
Neteller is synonymous with safety and discretion, and it really pays to register with them, and spend the time needed for verification are only advantages.