The main benefits of this payment option apply to all the electronic wallet services equally. While Neteller is a long-running and trusted brand, rivals like PayPal and Skrill are also reputable.
With this service you are creating a gap between your bank account and credit cards – and the poker sites. This is useful for several reasons. For many people, security is the main driver. While the big international poker brands are trusted, there are still those with concerns about typing in credit or debit card information to deposit. With Neteller, you upload money from your bank, and then use this 3rd party system to deposit at poker sites. Since you can only deposit the money you have, risk is reduced.
This 3rd party service also means that there are no poker / gambling transactions appearing on your bank statement.
A separate benefit is less obvious – though it is welcomed by many poker players. You can use Neteller as the holding place for some or all of your poker bankroll. This can be accessed via a separate debit card, or transferred back to your bank at any point. If you do see a promo at a rival poker site to your usual one, you will always have the cash on hand to deposit and take advantage. This also avoids having too much money in your poker site account – further reducing your risk.
You will need to go through a verification process when you register your account. This is a one-off task, and keeps both you and Neteller safe from fraud. The other disadvantage to talk about are the fees based on the money you send. These are small as a percentage, though can’t be ignored completely.
How to Deposit Using Your Neteller Account?
With so many of the big brand poker sites welcoming Neteller, your first task is to choose the best one. This can be based on your location, though don’t forget to compare the poker bonuses, mobile poker compatibility and licensing / responsible gaming aspects before you register. The main sites page here contains links to many guides which will help you to find the best site.
To make your Neteller poker deposit you will first need to find the cashier section of your site. This is usually clearly marked – often with a big and brightly colored button!
After choosing Neteller by clicking the logo, you’ll find a screen asking for some basic information. You add your account number, amount you want to deposit, plus any coupon / bonus code given to you by your poker site. At this point you do not add your password.
The next step is a separate log-in to your Neteller account. I recommend checking that the URL is correct, and that you are using a secure browser window at this point. When you log into Neteller, you will find the transaction details have been passed from the poker site. All you need to do is to verify that these are correct and to confirm the payment.
You will then see a ‘redirecting’ screen, and be back at the cashier to see a message confirming your deposit. This is a very robust system, which has been used by poker players for more than a decade.
Withdrawing with Neteller
Making a withdrawal onto your Neteller account will need the manual approval of your poker site. Sites with the fastest payments will often do this within 48 hours, while others may take a little longer.
You will fill in a form requesting the withdrawal to Neteller, along with your account details. This will then be sent to the cashier staff for verification. Most sites will ask for Id documents for your first withdrawal – again this protects both you and them from fraud.
Alternatives to Neteller
I already mentioned that both PayPal and Skrill are popular electronic wallet alternatives. For me there is nothing much to separate Skrill and Neteller (these brands are owned by the same company). PayPal is better known, and takes fees on money received, rather than for payments. PayPal is available only at the biggest and best known brands.
If you are in the US, then eWallets are not available. Instead you have a choice of credit cards (Visa and MasterCard are the most widely accepted, with Amex and Diners Club sometimes used), money transfer services or Bitcoin. It can be a surprise to many people, though Bitcoin (and Litecoin) is the most similar to Neteller in terms of the process. Your Bitcoin wallet replaces the Neteller account, and the blockchain address and receivers Id replaces the account log-in.