What is Neteller?
Neteller is a popular payment service provider that offers its users the ability to make online money transfers. So, in this article we’ll be covering all the key points for you to know how to use Neteller in India. Since it’s a foreign concept to those placing bets on gambling websites, they need a payment mode to make a deposit. And, Neteller is a really good payment service provider to help you with that.
Let’s understand a little history about Neteller, you know what they say about trustworthy? The brief history it is, the more you can trust. So, Neteller was only a software company that provided services to online merchants back in 1996. Things changed after 1999, when Stephen Lawrence founded Optimal Payments in the US, and then months later they built a strategic partnership with Lefebvre then emerged to form a Canadian company called Neteller.
Neteller was originally created to solve problems for users not finding secure online money transfer portals. Their service basically allowed users to purchase items online and make deposits without the need to reveal their debit or credit card information which prevented personal information threat. However, it wasn’t intentional but online gambling became their primary source of revenue even long before these gambling sites started accepting Neteller and started giving them free referrals as well.
So, in this article we’ll be briefly discussing how Neteller works for Indian, and yes, the article is Indian centric because Neteller was introduced to India much later long before they became an International platform much like Paypal and Skrill. This article is to assist Indians to use Neteller to help them use it as a deposit method in gambling sites.
Fun Fact: Neteller is considered as the second most used online payment method on gambling sites. They are part of the well known Paysafe Group and along with its sibling e-wallet Skrill, amount for billions of euros worth in transactions each month. Apart from fast and secure payments, Neteller offers various promos and a quality loyalty program where you can send and receive money with low charges.
How does Neteller work?
See creating any account isn’t rocket science and especially creating an account on Neteller is basically child’s play. Trust us — simple steps to follow, not more than that:
- Sign-up – First step is to visit Neteller’s official website and locate the “join for free’ tab. The “join for free” tab can be located on the top right corner besides the “sign in” tab. On locating it, click on it to start the sign-up process.
- Fill in details – Clicking on the “join for free” tab brings a register form application to fill. Details to be filled include personal details like first name, last name, E-mail address, and a secret password. Once you complete this step, your account is created immediately.
- Add money – All you need to do next is make a deposit by clicking the “first steps” tab on your dashboard. Choose your country of residence and the currency you want your account to read, in this case Indian Rupees. After this, you are redirected to a page to supply your personal details like your date of birth, sex and residential address.
- Choose gambling or non-gambling account – During deposit, you are requested to specify if the funds to be deposited are either for “gambling” or “non-gambling” purposes. Most Indian banks only allow transfer of funds for non-gambling purposes. Most times, if you choose for gambling, your transaction will be declined. So, it’s advisable to use another e-wallet like Skrill to fund your Neteller if you want to use your funds for gambling.
- Set security questions and pin – After making a deposit, you will need to set 3 security questions that only you will know the answer to. This is needed just in case your account gets blocked and you need to get it active. Also, you need to set a 6-digit pin for making transfers with your Neteller account.
- Verify your identity – To accomplish this, you need to upload an official document that will verify your identity. Documents that can be uploaded include Driver License, International Passport or NID. Any document to be uploaded must be an original copy.
- Verify your residential address – To do this, you need to upload any document that validates the address you supplied on sign-up. Most times, a bank statement will suffice. You can also upload a utility bill.
Depositing money to your Neteller account is very easy. There are different methods you can use to deposit money to your Neteller account. And, methods include Bank transfer, use of Credit/Debit Cards, you can also make use of other e-wallets like major e-wallets are Skrill and Paytm.
Although, if you want to deposit funds from your Neteller account to your online betting wallet, e-wallets are highly recommended. Indian banks only allow transfers to and from Neteller accounts if it’s not for gambling. An easy way is to use Skrill or Paytm to fund your account, then subsequently fund your betting wallet as well.
Steps to Deposit Money From Local Indian Bank Account to Neteller
Funding your Neteller account using your local Indian bank is quite easy. To deposit from your local Indian bank account to Neteller, follow the following steps below —
- Sign in to your Neteller account and locate the “Money in” section on your dashboard. Click on this tab to display deposit channels available to use. Choose the “Local Bank Deposit” option.
- After following the step above, enter your desired amount for deposit into the space provided. Click on continue to confirm your transaction. A page will open for you to fill necessary banking information needed to complete your funds deposit. Deposits are completed by transferring funds from your bank account to your Neteller account using different banking channels.
- Available banking channels to use include telephone banking, online banking or walk-in to your local branch. Include your 12-digit Neteller ID in your banking form IF you are using your local bank branch. If you are using Online banking, use Neteller as the payee under “Bill Payments”.
Note that using this option is quite slow as it may take 1-3 business working days to complete. Also stating that you want to make the transfer to your Neteller wallet for gambling purposes will make your local bank decline your request.
Doing withdrawals from Neteller can be done using many channels. This includes withdrawals to Indian banks, Skrill, or a merchant site. Note that gambling funds cannot be withdrawn to a local Indian bank account as this would be declined.
Steps to withdraw money from Neteller to an Indian bank account, use the following steps below —
- Step One: Click on the “Money out” tab on your Neteller account dashboard. After withdrawal channels have been displayed, select “Bank withdrawal”. Then click on “continue.”
- Step Two: fill in your bank details. You are advised to fill in capital letters correctly. Then you confirm your bank and click on “Confirm.”
- Step Three: Input your desired withdrawal amount. Check the box to agree to the terms. Finally click on “withdraw now.”
Steps to withdraw money from Neteller to Skrill, use the following steps below —
- Step One: The first step is to sign in to your Skrill account. Then click on “deposit” choosing Neteller as your preferred option. Then click on “next.”
- Step Two: Enter your desired amount to be deposited. Also enter the email address registered to your Neteller account along with your secure ID 6-digit code. Click on ‘Upload’ to finish the withdrawal process.
Steps to withdraw money from Neteller to PayPal, use the following steps below —
Withdrawal to PayPal cannot be done directly for obvious reasons, so you will have to make use of a trusted 3rd party merchant website that accepts Neteller funds.
Withdrawal Processing Times
- Indian bank account: 3-5 working days
- Neteller to Skrill: Instant
When it comes to Neteller as a payment option then these two aspects should be considered for real, the betting site controls both of these aspects briefly mentioned below. You should always keep an eye out for the following —
- Withdrawal limits: You might come across a bookmaker that puts a cap on the total amount of money you can take off of your account on a daily/weekly/monthly basis. Research that before signing up and choose a betting site that matches your budget and play frequency accordingly.
Withdrawal fees: Following up on bookmakers that will impose a limit on the overall number of withdrawals, there are sites that will ask for a fee for all requests exceeding that set number,i.e., first 10 withdrawals are free each month and after that you are charged a small fee in the likes of 2%. It’s best if you steer away from those.
Banks that Support Neteller
Virtually most banks in India support Neteller transfers. For faster transfer, it’s advised to use ICICI Bank. Other popular banks like State Bank of India (SBI), HDFC Bank, HSBC, Bank of Baroda and etc., also support Neteller.
There’s always a consecutive fee charged for everything basically. These fees are convenience charges, maintenance charges, and many other things that keeps your account secured and the company running. There’s fees charged for funds transfer and withdrawals on Neteller just like your bank accounts would charge you.
- Within Neteller: Free
- Local Bank Transfer: 3.99% of the withdrawal amount
- E-wallets (Skrill): 3.99% only when there’s a foreign exchange
- Other Merchant Sites: 3.99% only when there’s a foreign exchange
And that’s about to it, there’s nothing much more to it.
Neteller Betting Sites
So, the very obvious question next would be — a list of betting sites that accept Neteller. We understand that our players love online gambling and are looking for the best deposit method to be able to get it started. Also, make sure to read our article of types of deposits on gambling sites. Here’s a list of betting sites that accept Neteller as a deposit —
Neteller Customer Support
Neteller has excellent customer care support with a live chat support system that is available 24/7 via phone or email, and an interactive FAQ section to help you troubleshoot any issues. You can approach for any technical help through the live chat, which is available at the bottom lower of the screen. Fill out the details, like your registered email ID and you’ll be transferred to a customer service executive to help resolve your issues. Anytime and anywhere, you can reach out to their customer support service through email or by calling.
Neteller Mobile App
Neteller has quite a convenient app of its own which is super user-friendly to use. Which is adorable, yet, convenient for players around the world to use Neteller at one go from anywhere and anytime! The app is available on iOS, and Android devices. One look at the app and you’ll fall for it for sure. The app is quite decent, green in colour and an exceptionally user-friendly interface with encrypted payment methods. You can save the details of your card to make quick payments next time, easy access to payment history, and receipts for each transaction.
Whether you’re using a smartphone or a tablet, the app loads seamlessly and you won’t face any trouble. The only thing you need to get your Neteller running is a strong internet connection like 4G would do.
The Pros & Cons of Neteller
Like any other service being used, whether a product or any sort of thing that falls under the consumption category, all things have the good side and the bad side. It’s up to us to decide which side weighs heavier in terms of quality of service rendered to customers. To sum things up, the services of the Neteller ewallet can be categories to the following advantages & disadvantages —
- Accepted on almost every SportsBook
- Instant, free of charge deposits on your betting account
- Instant withdrawals through the prepaid Net+ Mastercard
- Minimal withdrawal fees
- High deposit and withdrawal limits
- VIP Program that allows you to keep two accounts
- Added security through the 2 Way Authentication
- You will be charged with a certain fee when you send money to another Neteller user
- A certain fee is imposed for any transaction between two Neteller accounts
- Arbitrage reputation. Certain bookies act a bit suspiciously towards bettors who use Neteller on their deposits. This is due to the fact that alongside Skrill, they share a reputation of being frequently used by betting bonus hunters and arbors, who sometimes will withdraw their money and never punt on the same betting company.
Perhaps you’re worried about the legal implications the company would form new independent brands Firepay and Instadebit, which in addition to spreading risk helped them dominate the online gambling payment industry. In 2004 Neteller floated on the London Stock Exchange and Lefebvre and Lawrence who handsomely charged the retired share-holder revenue from the company. Unfortunately for them, they’d need to give most, if not all, these earnings back in a US settlement a few years after they left the company.
As a testament to Neteller’s success, their company quickly settled US legal troubles that came about in 2007. As a result their brand was strengthened and stock prices continued to soar. Today Neteller is regulated in the UK by the Financial Services Authority (FSA), processes billions of dollars and is available and legal in more than 160 countries. Their website operates in 36 different languages and has millions of active customers each month.
The bottom line, if you’re looking for a safe and secure way to send and receive money online, there is not a doubt that this portal is a leading choice.