About Neteller

Neteller dominated the world of online gambling payment processing when they opened back in 1999. Today they are still one of the most popular e-wallets servicing over 180 countries with highly secure money transfers. Because of the numerous easy deposit and withdrawal options, Neteller is used by many Asian players for online gambling transactions.

Neteller was founded in Canada in 1999 by British global payments company Optimal Payments PLC, before they moved offices to Douglas in the Isle of Man in 2004. Optimal Payments PLC trade on the stock exchange and have a current market capital of £751m. Its share price, as of March 2014, stood at 501.4 – which is over triple the price it was trading at in June 2013.

Neteller started its online payments activity in 2000 and by 2005 80% of the world’s gambling-related transactions were done through Neteller. It is one of the most popular and most secure electronic wallets (e-wallets) on the market and process billions of dollars’ worth of transactions across 180 countries worldwide.

Neteller’s two founding members, Stephen Lawrence and John Lefebvre, were arrested by US Authorities in 2007. The company was reportedly targeted due to the fact that 95% of transactions through Neteller at that time involved online gambling.

The pair had to pay a nine-figure fine and were released from US custody. Neteller remains a huge player in the online gambling market but after 2007 steps were taken to make sure Neteller was not only recognised for gambling, but for all manner of goods and services.

How does Neteller work?

Neteller offers customers a safe method of transferring and paying money online without their financial details being revealed. Whether it is for poker, gambling or slots, Neteller is still the number one choice for millions of people moving money around from site to site.

You can also use Neteller to pay for goods, holidays, services and bills online in the same way you would with a credit card.

The main differences is you’ll never fall into debt, or end up owing interest, as you’re using your own money from your prepaid account. You don’t need a credit rating and you don’t need savings. As long as you can supply ID you can have a Neteller account and have access to funds online.

Verification Process

The verification process for opening a Neteller account is the same in every country bar Canada*. There are also easier verification options available to people residing in Denmark, Finland, Germany, Netherlands, Norway, Sweden and the UK**.

When you open an account with Neteller you will need to supply a form of ID, in most cases this will be a Passport, Driver’s License or Government Photo ID. You will need to provide a clear copy of each with all four edges visible, with front and back copies both required if you are using a Government Issue Photo ID.

You must make sure that the address on your Neteller account matches that on your supplied ID and that your ID is valid (i.e. not expired).

It’s very quick and simple to upload these documents. Just log into your account and click on the Account Tab to view your ‘Summary’ page. You should see a ‘Verify’ option beside the ‘Identity’ tab and from here it will be simple to follow and upload your documents. It will usually take between 2-5 business days to verify your documents.

Once your account is verified you’ll be able to log in and enjoy all the benefits, including withdrawals, getting a NET+ card and having higher transactions limits. From time to time Neteller may request you to verify your address. This won’t happen to everyone, but if requested you’ll need to supply a bill addressed to you and showing your current address.


*If you are living in Canada, you will have to jump through a few hoops to get your account verified. You will need to 1) Accept the FSCS Warning 2) Receive Telephone Verification 3) Verify your Bank Account, and 4) Verify your Personal Identity.

You will not be allowed to use Neteller to transfer or deposit funds to or from any gaming websites while living in Canada.

**Neteller automatically runs an electronic identity verifier on all accounts from certain countries when you first sign up. If Neteller is able to validate your personal identity through this electronic verification system, you will have different ways to verify your account. If it is not able to verify your personal information electronically, this just means there was not enough information to get a match.

How to fund a Neteller Account

Funding options with Neteller differ depending on what country you’re living in. To see what options are available to you, click on the ‘Money In’ link when you log into Neteller. All of the major deposit options are available and the majority are free.

There are also many smaller options available to specific countries, such as Giropay for Germany, EPS for Austria or Abaqoos for Hungary. You’ll also be able to benefit of a Local Bank Deposit free of charge in Australia, America, Europe and Japan.

Some of the time frames and fees associated with deposits are outlined below, and they are listed as; Deposit Options/Clearing Time/Fee;

Debit Card – Instant Funding – up to 1.75%

Credit Card – Instant Funding – 1.75%

Ukash – Instant – 3%* (7% in Brazil)

PaySafeCard – Instant – 9.9%

Fast Bank Transfer – 1 hour to 6 Business Days – Free

International Bank Transfer – 2/3 Business Days – Free


* It said 1% on Ukash deposits in 2 other areas of Neteller, but after contacting support they admitted it was an error, so hopefully this will be rectified soon.

Transferring funds

You can transfer funds to any other Neteller customers free of charge. I say free of charge, but Neteller is actually covering itself as the charge for transfers to other people is 1.9%, but at the moment you are receiving a discounted rate of 0%. You must be aware that this discount rate can actually change at any time.

You can even transfer funds to a person that doesn’t have a Neteller account, but they will need to set up an account in order to withdraw the funds. Just log into your account, select the ‘Money Out’ option and then enter in the relevant details. Your funds will be transferred immediately.

Unverified accounts may only use the Player Transfer once, but you will need to verify your account to continue to use that service. The amounts you can transfer depend on yours and the receiving person’s account, as well as the country you reside in.

The minimum per transaction is $5/€3.75/£3.75/425 JPY

The maximum per transaction is $5,000/€3,750/£3,750/425,000 JPY

The limit for transactions in 24 hours is double your maximum transaction limit (e.g. $10,000), and the limit for transactions in 7 days is double your daily limit (e.g. $20,000). There’s also a 30 days limit which is 2.5 times your 7 day limit (e.g. $50,000), so if you’re planning on doing a lot of transfers make sure you plan it out so that you don’t exceed these limits.

If you wish to buy goods or services you’ll be able to transfer funds to thousands of merchants worldwide or make deposits onto gambling/poker sites. You will need to enter your 12 digit account ID along with your 6 digit secure code to carry out this transfer. Beware that if there is a currency conversion required you will incur a 2.95% foreign exchange fee.

If you are using your Neteller account mainly for poker or gambling, make sure your accounts are in the same currency as your Neteller account to avoid any of these charges. If you hold a Neteller VIP account you can contact Neteller and should be able to negotiate higher limits or reduced fees.

Withdrawing funds from Neteller

Funds will be withdrawn from your Neteller account directly into your bank account in the currency of your Neteller account. You will then receive the funds in the currency of your own bank account, subject to a 2.95% Foreign Exchange Fee. There is also a charge of $10/€7.50/£5 for Bank transfer withdrawals for people living in any of its 37 listed countries in Europe. For everyone else that wishes to withdraw using bank transfer, the fee will be $12.75/€10.50/£7/1400 JPY.

In you wish to receive a cheque from Neteller the currency options are limited to CAD for Canada, GBP for UK, and EURO for Bulgaria, Denmark, Finland, France, Germany, Italy, Latvia, Lithuania, the Netherlands, Norway, Romania, Slovakia, Slovenia, Spain, and Sweden.

Everyone else will receive their cheque in USD. I did contact Neteller to query about Ireland because, according to the information available, I can only receive a cheque in USD, but support told me that I can choose between EURO and USD.

Cheques will take between 2-21 business days and there is a charge of $10/€7.50/£5 for all cheques sent via standard post. If you want express delivery, which will arrive within 5 working days, then you will have to pay for it – the cost for this option is $35/€25/£17.50.

You can also withdraw funds from an ATM using your Prepaid MasterCard.

Net+ Prepaid MasterCard

In 2003 the company launched the Neteller Card and in 2007 it replaced these cards with MasterCard debit cards. The card product line was then re-branded as Neteller Net+ in 2008.

The Net+ card is operated by the latest chip and PIN technology and provides you with instant access to all the funds in your Neteller account by withdrawing from ATMs or getting cashback at whatever Point of Sale locations accept MasterCard.

To apply for a NET+ card you must first verify your account and then sign into your Neteller account to follow the links for Net+ cards. You’ll select your currency (it is recommended that you choose the same currency as your account to avoid Foreign Exchange Fees) and, once you complete your request, your card will be shipped out to you within 21 business days.

There is a shipping/handling charge for your NET+ card, so you will need to have €10/£8/1300 JPY in your account before you can request one.

All POS (Point of Sale) transactions are free using your NET+ card, but your ATM withdrawals will incur a charge of €4/£3/650 JPY. If you’re withdrawing from a currency other than that of your card, you will be charged an exchange fee of 2.95%.

To exaggerate this even more, if you decided to set up your Neteller account in EUROs and you request a NET+ card in Pound Sterling, and you were then holidaying in Japan and wanted to withdraw from an ATM, you would be charged the set fee of £3 for the withdrawal and you would be charged 2.95% TWICE for two Foreign Exchange fees.

You should always make sure the currency on your account is the same as that on the NET+ card.

Should you require a replacement card, or if you want to cancel your card, you will incur the same charge it cost for first receiving your card. However, Neteller VIP members will be able to benefit from reduced FX fees.

ATM withdrawals are limited by number of withdrawals, total transactions daily, and transactions over a 4-day period. The rules and calculations regarding withdrawals and transaction limits can get confusing, so going on a spending spree is not recommended as you might fall foul of the regulations.

Unless you’re VIP, you’ll only be allowed 2 withdrawals up to £500/$1k/€750/120k JPY every 24 hours, three times as much in POS purchases up to a maximum of 10 transactions and then some other maths required to find out your limits every 4 days!

Neteller VIP

Neteller offer a VIP Program available to all users, but only those with increased transfer activity will be able to reap all of the benefits. The level of VIP will be determined by the amount of money transferred per year – the minimum required to make the VIP Program is $10,000.

There are 5 levels, named Bronze, Silver, Gold, Platinum and Diamond. Bronze users ($10,000 transferred p.a) can benefit from VIP Fraud Guarantee, VIP Chat, increased ATM withdrawals up to $1k, and additional Reward Points.

Silver, Gold and Platinum levels ($50k-$500k transferred p.a) will enjoy all of the Bronze benefits but will also be able to (depending on level) operate multiple currency accounts, get increased transfer limits, have a dedicated VIP Manager, Next Day Cashouts, up to 3.3k Daily ATM Withdrawals limits, earn up to 20k Reward points, plus earn a multiple of 1.25points per 1USD towards the reward program.

If you transfer over $2m USD p.a and become a Diamond VIP then you’ll enjoy all of the previous advantages plus you’ll be able to earn 0.50% cashback, 50k Anniversary Reward points, 1.50 to 1 ratio reward points multiplier and a reduced FX fee of 1.25%

Rewards, Points and Shop

You’ll earn 1 reward point for every $1 you move in or out of your wallet. This increases for some Neteller VIP members, as Platinum VIPs earn 1.25 per $1 and Diamond VIPs earn 1.5 points per $1.

The catalogue of gifts available in the Neteller shop is quite extensive. An Xbox 250GB Console will set you back 740,000 points, so that would take a non-Platinum/Diamond VIP $740k worth of transactions to build up enough points. By comparison, it would take $592k worth of transactions for a Platinum VIP and $493k worth for a Diamond VIP.

An example of other gifts available in the store are a Skyfall scalextric for 368,000 points, a set of Wilson Irons Golf Clubs for 848,000 points, Le Creuset Dish for 89,000 points and a Giant Connect 4 game for 404,00 points. You’re better off checking out the store yourself to get an idea what’s available.

To give you an idea of the cashback percentage for gifts, Coldplay’s ‘Parachutes’ album is available for 36,000 points ($36,000 transferred) and costs $10 on ITunes, so it works out at 0.0003% cashback on some items.

Neteller offer a Refer a Friend program that rewards both of you as soon as the person you refer makes their first deposit. As a member you’ll receive a bonus equal to 20% of your friend’s first deposit, up to a maximum of €16. Your friend will receive a bonus equal to 10% of their initial deposit, up to a maximum of €8.

Cash Exchange

If gifts aren’t your thing then you can use your points for cash exchange at Neteller. The lowest amount available for purchase is $25 for 42,000 points (0.0006% cashback at lower levels and 0.0009% at highest level).

You get a reduced rate if you save your points and go for some higher value amounts, like $750 for 1.025m (0.0007% cashback at lower levels and 0.001% cashback at the highest level). The largest amount of cashback available to you is $5,000 for 6.327m, which works out at 0.0012% cashback at the highest levels.

Neteller reward the loyal VIPs with up to 0.5% cashback on all transactions. You’ll need to be Diamond level (transfer $2m p.a.) to receive the full 0.5% cashback. E.g. if you make $35,000 worth of transactions in March, then you will automatically receive $175 into your account in April.


Neteller runs promotions from time to time and the latest giveaway for March 2014 involves parting with $20k in their Lucky Pot promotion. There is a draw at the end of every week and the lucky winner of each of the 4 draws will receive a portion of the $20k pot.

In order to receive an entry into the draw you will need to meet certain criteria. You will receive 10 entries for every $1,000 transferred to your favourite merchant, 1 extra for every $100 deposited into your account, 1 entry for applying for a NET+ card, 1 entry for every time you used your NET+ card, and a couple more scenarios. You’ll need to do extremely well in order to win money from this promotion because there will be thousands upon thousands of entries for each draw.

Neteller also has a section for exclusive offers from merchants. It’s almost entirely casinos, so if you sign up through Neteller you’ll receive an additional bonus exclusive to Neteller users.

Neteller Security

Neteller is an Authorised Electronic Money Institution regulated by the British Financial Services Administration (FSA) and it must follow strict rules. Neteller employs a powerful 128-bit SSL technology, the same kind of SSL technology that banks use for their online operations. Neteller will never reveal personal or sensitive information, so you can be safe in the knowledge that your delicate information will never fall into the wrong hands.

Neteller doesn’t operate as a bank and lend money, and under FSA rules it must maintain customer funds in separate trust accounts away from its operational cash – so your money will always be on hand. In addition, in order to prevent fraud and money laundering, Neteller only allow one account per customer.

Restricted Countries

Neteller provides limited service to Canada, Hong Kong, Israel, Macau and Turkey. If you live in one of these countries you may hold a Neteller account, but will not be able to transact with any gambling-related merchant. You may also have limited deposit and withdrawal options.

If you are travelling to one of these countries from a fully-serviced country then you will be able to log into your Neteller account but you will not be able to conduct any gambling-related transactions. You can, however, contact Neteller prior to travel and arrange for your account to remain unrestricted over the course of your journey.

Neteller classifies the following countries as Non-Serviced Countries. This means that you can still hold a Neteller account, but you won’t be able to initiate any transactions. If you are travelling to one of these countries from a fully-serviced country then you can contact Neteller prior to travel and arrange for your account to remain unrestricted over the course of your journey.

Non-Serviced Countries: Afghanistan, American Samoa , Armenia, Azerbaijan, Bhutan, Cocos (Keeling) Island, Cook Islands, Cuba, East Timor, Guam, Heard and McDonald Islands, Kazakhstan, Kyrgyzstan, Libya, Marshall Islands, Micronesia, Moldova, Nauru, Northern Mariana Islands, Pakistan, Palau, Puerto Rico, S.Georgia and S. Sandwich Islands , Tajikistan, Turkmenistan, Uganda, US Minor Outlying Islands, US Virgin Islands , Uzbekistan , Yemen

Neteller classifies the following as banned countries and does not provide any service to them. These countries are normally banned either due to their own government legislation, or due to international financial standards. Members who are travelling to these countries may still use their NET+ Prepaid MasterCard but will be unable to sign in to their Neteller accounts while travelling there.

Banned Countries: Belarus, Burma, China, Ivory Coast, Democratic Republic of the Congo, Eritrea, Republic of Guinea, Iran, Iraq, Liberia, North Korea, Somalia, Sudan, Syria, and Zimbabwe.

Neteller Support

Neteller offer a pretty extensive line of support for customers and it is offered 24/7. There is a direct line where you can contact Neteller from anywhere in the world and it also has 13 separate numbers to call from a range of countries. If you can’t log into your account, you can also request ‘Call Me Now’ and a Neteller agent will ring you back within one hour.

The email support is available in eight languages and will always endeavour to reply back in your chosen language within one business day.

Live chat support is available 24/7, so you can instantly connect with one of their many agents. However, the first time you contact Neteller Live Chat Support you may have the Pop-up blocked depending on what security software you are using – make sure to take note and allow Neteller through.

I’m not a huge fan of the online support. First of all, you can’t speak to them unless you are a signed up Neteller user. Once you make contact you will be asked one of the security questions you fill in when you sign up, e.g. Mother’s Maiden name, first dog’s name, D.O.B.

I took exception to having to answer three security questions just for them to answer one general query that had nothing to do with my account. It might seem petty, but why should I have to answer three security questions just to ask them something general, only for them to take over five minutes to give me a link to a page I’ve already read and still doesn’t explain what I ask?

The three or four times I’ve contacted Live Chat, bar on one occasion, I’ve found them not very well trained and unable to help me without just linking topics from their help category.

Each agent’s English was very poor (I’ve nothing against people using English as a second language, but I’ve come across hundreds of agents that take care with their English despite it not being their first language. Neteller support is nowhere near as competent as any of these). It’s just not a pleasant, satisfactory experience.


Neteller seem to have a rulebook as long as your arm relating to what you can and can’t do in different countries. As a result, it feels like you are jumping through hoops regarding how much and how often you can move funds – it can get a bit overawing.

The website is lazy and very amateurish-looking. It is not something you’d expect from a multi-million dollar company.

The deposit fees are cheaper than Skrill at times and there is no charge for transferring to other customers, but the withdrawal fees are so much more expensive than Skrill’s. This puts me off, especially using the NET+ Card for withdrawals as it’s a big hit each time.

There is not a mobile app, which again is just ridiculous for such a company. If I had to choose between Skrill and Neteller, I’d choose Skrill every time.