Neteller – E-wallet For Fast Online Transactions

This article introduces one more way of managing your bankroll online quickly and safely. The more tools you have at your disposal, the more you are going to reduce the amount spent on fees charged for using various payment methods. In turn, this is going to save you hundreds of pounds in the long term.

Moreover, all e-wallets (e.g. Neteller, Skrill, paysafecard) have loyalty programmes which award you points that can be subsequently exchanged for different amounts of money.

Follow the links below for more information on any of these subtopics:

WHAT IS NETELLER?

Neteller is an e-wallet (virtual bank account) that can be used for payments anywhere on the Internet. You can also use it to send money to people who do not have an account with Neteller. They will receive an e-mail about a pending transfer and once they open an account, the money will be sent in.

Neteller transfers are carried out within seconds after they are approved so that way you can manage your money quickly and effectively instead of waiting between 2-5 days in case of a bank card withdrawal.

Another advantage offered by Neteller is its huge popularity as the e-wallet is an approved payment method with nearly all bookmakers and casinos.

You should certainly keep in mind that even if you are using Skrill or paysafecard, it is a good idea to have an alternative because if your Skrill account gets blocked for some reason and you are unable to access it over the course of several days, it could be really inconvenient for you, especially if you stake large amounts.

HOW TO REGISTER

In order to open an account with Neteller, you need to have a valid and active e-mail address.

Open an account with Neteller:. use this link to reach the site where you can begin the registration procedure.

Here you will have to enter your login details and personal information.

Your login e-mail should be the same you use with the bookmakers, which will help you avoid issues with deposits and withdrawals.

Neteller charges an exchange fee of 3.9% in the beginning so the currency you use should be the same as the one of your bank card as well as the bookmaker.

After you fill in all the required fields and press the green Create account button, you will get a message that you can only have one account so if you are already registered, you should log in. You choose to continue with the new registration.

You will get a welcome message on the next screen along with a Secure ID number which you should write down and keep.
Then you only need to complete the verification procedure before gaining access to the full functionality of the website.

 

CARD AND BANK ACCOUNT REGISTRATION AND VERIFICATION

  • Card registration

To register a card, you need to make a deposit with it. After a successful deposit, Neteller will send you a 4-digit code which you can see in your bank statement in the Payment Details field of your first deposit.

Then you go to Money in and click the Validate link located under the card you have used. Here you enter the 4-digit code you received. After successfully completing this stage, your limits will automatically be increased.

  • Bank account registration

Neteller allows you to enter only one bank account number. To do so, go to Money out and click on Add a bank account.
Then you enter the required information in the registration form.

Keep in mind that the name you used to register on the site must match the name of the beneficiary of the bank account.

Verification: once the registration process is over, Neteller will transfer a micro amount on your account (less than £1, in the region of 0.26p).
You are going to receive the transfer after 3 to 5 business days. Then you should enter the two digits after the decimal sign in Money out and press Verify Bank.

NB: If your account is in BGN or RON, the transfer will be in euro, hence you need to calculate the amount you received in euro and enter the result in the verification field.

 

ACCOUNT VERIFICATION

After you log in, you will see a blue strip in the upper corner reading increase your limits by verifying your account. Click on the link to reach the page showing the steps to activating your account.

  1. Depositing funds: the first thing you should do is top up your account with a certain amount of money. Your bank statement will contain the 4-digit code that you should use to verify your card.
  2. Creating security questions: you need to be very careful here and write the questions and answers you choose. There will be 3 of those, and every subsequent time you log in, you will be asked one of these questions. If you fail to answer correctly, your account will be locked. In case that happens, you should request a call by Neteller so that they could confirm your identity over the phone and unblock your account. Always write down the questions and answers.
  3. Verifying your identity: after going through the two above-mentioned procedures, you will unlock a third one that cannot be triggered otherwise. Here you need to upload your scanned personal documents (based on the country you choose from the drop-down menu, there are different options). The main ones are the following two:
  • Double-sided color copy of your driving license
  • Double-sided color copy of your ID card

4. Verifying your address: again, you have several options. First, you could activate the location function of your browser so that every time you log in to your account, your geographical location will be tracked. The other options are:

  • Utility bill: electricity, water, etc.
  • Bank statement: could also be a pdf copy downloaded from your online banking
  • Dated and stamped letter from the bank, signed by a bank clerk confirming your name and address

Whichever document you choose, it should not be older than 3 months.

The last step involves taking a photo with your mobile phone or laptop camera while you are logged in to your account so as to confirm your identity.

 

DEPOSIT/WITHDRAWAL/TRANSFER

If you have completed all the steps up to here, that means you already have a verified account with Neteller as well as a registered bank card. Hence, you are ready to start moving funds in and out of your account.

Here are the main operations you can perform:

  • Money in: top-up (deposit)
  • Money out: withdrawal
  • Money transfer: send money
  • Shopping

Money in – here you can top up your account.

Whenever you are asked to choose between non-gambling and gambling, always select gambling as otherwise when you try to make a deposit at an online betting site, your request will be rejected and you will keep wondering what is going on.

Money out – withdrawals are mostly done by means of a bank transfer. This is what I mainly use although there are several other options.

Money transfer – this option lets you send money to merchants or other Neteller users simply by using their e-mail address.

This is really convenient if a friend of yours is unable to make a deposit with his card, and the Champions League kicks off in five minutes.

The transfer is completed instantaneously and your friend can use the money right away.
You just need to enter the e-mail that the recipient used to register with Neteller and then choose the currency and the exact amount you would like to send.

Furthermore, you can send money to people who don’t have an account, so once they receive an e-mail with the details of the transaction and complete the registration, they will get the money.

FEES

DEPOSIT

METHOD FEE
VISA 1.90-4.95%
Skrill 3%
PaySafeCard 7.5%
Bank Transfer FREE
WITHDRAWAL

METHOD FEE
Bank draft 7.5 – 25€
Bank Transfer 7.5€
Net+ Card Free -1.75%
NB: Fees depend on your country of registration, the currency of your account and whether you have reached a certain VIP level.

Net+ Mastercard

This is a debit card connected directly to your Neteller account so you can operate with your money at all times. You can use this card to pay in shops, restaurants and any place that accepts MasterCard. Most importantly, you can withdraw money directly from ATMs.

FEES

TYPE FEE
foreign exchange 3.99%
YEAR 10€
to replace a lost card 10€
Shopping free
Cash Withdrawal 1.75%
LIMITS

TYPE LIMIT
withdrawals every 24 hours 10
Max withdrawals every 24 hours 900€
Purchases every 24 hours 50
Max purchases every 24 hours 2700€

Sending money (Money transfer) – 1.9% but no more than £12

You can check the fees on the Neteller website. To do so, choose a country from the drop-down menu and the currency of your account next to it.

 

CONCLUSION

Neteller is one of the fastest and most flexible online payment methods. If you do arbitrage betting, you know what I mean and what the benefits of having an account with such an e-wallet are.

Apart from the quickness and flexibility required for deposits and withdrawals, another important factor are fees. Don’t underestimate them because they may reach hundreds and thousands of pounds in the long term.

If you take sports betting seriously and operate with a large bankroll, you have the chance to become a VIP client, which will automatically reduce all fees. On top of all, higher VIP levels use Neteller free of charge.

I advise you to get familiar with the VIP system offered by Neteller and try taking away as much as you can from it because that is an excellent way of making extra money.

Register with Neteller here