Taking a Look at Neteller: Should You Use it in Online Casinos?
Created in 1999 and operated by Paysafe Financial Services Limited, Neteller is one of the ‘Big Boys’ of online casino payments. Like the rest of its kind, choosing this option gives you instantaneous deposits and the usual 24-hour withdrawals in casinos. At least for the ones that support Neteller.
So, here’s the thing; we’ve decided to review the payment option specifically for people considering the payment option. At the end of this, you should be able to know if you should use the option or not.
Bonuses and Neteller Mix Well Enough
When it concerns the bonuses that you get when you use Neteller in online casinos, the first thing to note is that there aren’t bonuses exclusive to it. Essentially, you’ll get the same type of bonus regardless of which payment option you later opt for.
In that case, the most popular you’ll find in any casino is, of course, the welcome bonus. This can either be in the form of deposit bonuses or free spins for a particular game.
The Deposit Bonuses
Ignoring the somewhat bland name (though it works), let’s talk about the welcome bonus you’ll find in most casinos online. The bonuses you’ll come across will always work in direct relation to percentages. If you find a welcome bonus that gives you up to 100% on your first deposit, this means if you deposit $200, you potentially get back $400. So, it’s really a double of your the deposit you make.
You can come across others with 150% or 200% tags, but we want to tell you to be careful of those ones. Except if it’s a rare promotion, most deposit bonuses like that usually have impossible requirements. That is, it can have a wagering requirement of 50× which means you have to wager the bonus (that extra $200) 50 times before you can withdraw it. Oftentimes, players would have lost the bonus by that time, so this is a tactic you have to look out for.
Other than that, bonuses can be timed and the amount of cash they will give you can be limited too. So, for the first one, see if the time limit of the bonus works for you while you should try to find the cap on the latter.
Tip: Always try to find online casinos that offer you bonuses on multiple, consecutive deposits.
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As the name may imply, online casinos hand out free spins like candies when it concerns slot games. Your job here is to find the one with the least amount of requirement. Most of the casinos offering free spins have requirements like time limits (3-7 days usually) and in some cases, wagering times for any winning as a result of the free spins. Be careful of that last part, since you actually want to be winning.
Min & Max Transaction Limits
While you may have verified your Neteller account, there are still minimum and maximum limits placed on both deposits and withdrawals. In some cases, you’ll find casinos that put a limit on every transaction you make using Neteller. For others, you will find monthly or daily limits. Nevertheless, while both are somewhat different, they’re literally the same thing at the end.
How Transactions with Limits Work
Here, the norm with Neteller is $10 minimum per transaction (withdrawals and deposits), while the maximum you can withdraw will be $4,000. In the case of the minimum you can withdraw, only go for the exact amount we’ve mentioned or anything lower. For the maximum, try to look for that limit exactly or find something higher.
Monthly/daily limits on your withdrawals and deposits in online casinos are actually straightforward. Here, you’ll be limited to a maximum of $20,000 – 50,000 per month for both withdrawals and deposits while the minimum will be limited to $20. Of course, we urge you to talk to the customer support to see if there’s any other string attached.
Fee Per Transaction
The fee per every deposit is free, at least when it concerns most casinos nowadays. So, when you see a casino saying the transaction fee is free, keep in mind that they’re intentionally talking about themselves. At the same time, they’re leaving out the fact that you’ll actually incur charges (on the part of Neteller) on any transaction you make. Expect about 2.5% per every transaction you make.
What about the Deposit and Withdrawal Times
Making deposits through Neteller to online casinos is usually very fast. In contrast, the waiting time usually falls between 3-5 days on your first withdrawal. After that, withdrawals shouldn’t take more than 3 days, though the casino would have processed your transaction within 24 hours.
Regions Accepting Neteller
Just like the other payment options available online, Neteller also has some restricted countries in terms of using its services. Here are some of them.
Tip: Use the search function of your browser to confirm if the country you’re playing from is restricted.
Of course, this list can be updated any time and accordingly, we’ll do the needed.
How Does Registration Feel Like?
If you already have a Neteller account, you should go ahead and ignore this part. But if you don’t, then this sub-section is for you—provided you’ve found an online casino with support for Neteller. Having said that, creating an account on Neteller, from our own experience is a straightforward process. All you’ll need in sequence is:
- Your Email address
- A password (with at least 1 letter and non-letter)
- Your names (first name and surname)
- Your Date of Birth (DOB)
- Country and preferred currency
- And your phone number
From what you can see, the requirements are pretty lax, but then there’s a drawback (we like to think of it as one for online gambling). You should know that there are limitations for the base-level unverified accounts. From the start, you can only transact with $500 to $2,000—depending on your region. This is a turn-off in the case of players who will most likely be gambling big.
That said, verified accounts don’t need many details (proof of identification and address), though it’ll consume time. If this is a deal breaker, try to use the option of wire transfer. After which, you can come back to using this option of it’s still enticing.
Our Final Thoughts
If at this spot particularly, you’ve made the decision to use Neteller as your primary option, then happy gambling! The payment option does have some of the best services in terms of limitations placed on countries and even transaction times and speed.
On another note, if the payment option’s repertoire of services is subpar at best to you, then it’s time to take a look elsewhere. Specifically, we recommend you go for Skrill, though you’ll need to check if it’s available in your region and you may need to set an account up. For the latter, you can check out a similar subtopic we mentioned above.