You’ve made it to the Neteller betting sites section of CheekyPunter.com where I list the best bookmakers which accept Neteller in accordance with my detailed reviews. Neteller is an e-wallet finance service based out of the Isle of Man and acts as a third party in making deposits to and withdrawals from online gambling sites and other merchants.
To see the best sites as rated by me when I conducted reviews then the list is below.
List of Neteller Friendly Bookmakers
*Info accurate as of 16-10-2019 for the UK market.
Comparison: Neteller Betting Sites
|William Hill||£5||Instant||24 hours||0%|
|Paddy Power||£5||Instant||1-4 hours||0%|
If you live in a part of the world where online gambling is restricted, or if you use a financial institution located in such a place, Neteller performs an invaluable service. It essentially allows you to link nearly any payment method to it, which it in turn links to most gambling sites. We’re not suggesting you break the law here but just pointing out a fact.
Additionally, you can withdraw money through Neteller directly to your bank account, or use the debit card which comes with the account to withdraw winnings as cash – as you can imagine Neteller is extremely popular with gamblers online.
How to Use Neteller to place a Bet
As one of the world’s largest money transfer services, Neteller brings a great deal of convenience to the world of online gambling. Not only can you use the service to make deposits and withdrawals to and from your online accounts, but you can use it to rapidly transfer money to other users of the service as well.
You can use Neteller by going to their site and opening an account. From here, you’ll have to link it to one or more methods of payment. Neteller accepts most forms of payment, including Visa (credit and debit), MasterCard (credit and debit), Maestro, Visa Electron, wire transfer, and online check. Additionally, internet banking is available with Neteller in most European countries and the United Kingdom.
Once you’ve linked your Neteller account, you can use it much as you would use a debit card or bank account to deal directly with online bookmakers. Simply make a deposit to fund your account, and when you want to withdraw your money, take it back out through your Neteller account.
Please note that it is not permitted in the United States; and that under US regulation, American financial institutions are forbidden from processing payments to or from Neteller. This also holds true for citizens and financial institutions of Thailand, Malaysia, Indonesia, and Afghanistan. The company welcomes customers from all other countries.
Neteller Online Security
As Neteller has built its business specifically on the protection of financial information and on the safe and reliable movement of its customers’ funds, it is only reasonable that it is a very security-minded company. Sites which accept Neteller also take security very seriously.
In dealing with Neteller, you are ensuring a very high degree of security for your financial information. In fact, the level of security is much greater than when you input the details of your credit or debit card. For one, it means that only one company has direct access to your financial details. It also means that you are not running the risk of potentially sending personal financial information over an unsecured or non-encrypted connection.
In terms of security, Neteller secures all data with what it terms military-grade encryption technology. It supplements this security by engaging with the Visa and MasterCard for their Verified by Visa and MasterCard Securecode programs. Any time you make a deposit from a card processed by either of these companies, Neteller requires that you input a password previously set up with the credit card processor to ensure that it is not a fraudulent payment.
Additionally, as it is not technically a bank under UK financial law, it does not lend money, and holds all deposits in trust accounts separate from its own operating costs. Theoretically this means that any money you do withdraw from your bookies account and hold in your Neteller account is 100% safe and secure.
History of Neteller
Although originally started in Canada in 1999, Neteller did not enter its current form until 2004 when it migrated to the UK. Due in a large part to restrictions on internet gambling in the United States, Neteller was successful in grabbing a huge share of the global online market. As of 2005, it was processing payments for nearly all major bookmakers.
Also due to United States restrictions on online gambling, and to the inability of American financial institutions to process payments to online bookmakers, Neteller found itself in a position where the vast majority of its revenue (roughly 95%) was coming from the United States.
Then, in early 2007, the founders of Neteller were arrested by American law enforcement officials, funds of the company and its clients were temporarily frozen, and the company was forced out of the American market.
Despite these legal troubles, Neteller remains a valuable resource for the average punter, and does not have any legal issues in the UK or Europe. It is worth noting, however, that customers in Hong Kong, Macau, and Canada are still unable to use the site to process payments to online betting sites.
Fees Associated with Neteller Deposits
As a dedicated financial service, Neteller does incur fees for deposit, transfer, and withdrawal. The fees vary depending on the transaction, and depending on which service you’re using.
For deposit, fees are typically a percentage of the amount deposited, and vary from 0-2%. Notably for UK residents, funding your Neteller account with a Maestro debit card is free of any fees or charges. Likewise, direct deposits from local and international banks are free of Neteller charges as well, though they may incur charges from your financial institution. For other popular deposit methods, including Visa and MasterCard credit cards and Debit cards, the fee stands around 1.75% of money deposited.
To take money out, on the other hand, you’ll incur a small, flat, fee. For cheques and bank transfers, this fee is 7.5 EUR, while withdrawing money via the Neteller debit card incurs a fee of up to 4 EUR. Transfers to other neteller users are free.