What is Neteller?
If you’re not aware already, Neteller is a global e-wallet that has widespread operations in India. We’ll get to know about the operations in the country very soon. Before that, let’s get a quick overview of what Neteller is.
- Owned by the Paysafe Group, Neteller has more than 23 million users worldwide.
- Neteller works with all major payment gateways including Visa and Mastercard for deposits and withdrawals.
- The company first came into existence in 1999.
- It now shares the same owners as Skrill and Paysafecard, 2 other extremely popular payment methods at Indian betting sites.
- Apart from paying Neteller sportsbooks, you can send and receive money, pay merchants online, trade crypto, and accept payments for your business using this method.
How Does Neteller Work?
Essentially, the payment method in question today is an e-wallet. So, it works capitalizing on the same principles as all major e-wallets around the world. Your Neteller account will not give you the benefits of your bank account, per se. But it’s very similar in terms of functionality and security.
One of the fundamental differences is that you don’t have to set foot outside your home to sign up for Neteller. The registration takes a few minutes and we’re going to cover it step-by-step very soon.
Once your account is ready, you can start transactions right away, no questions asked. The drawback of this approach is that you won’t get the full itinerary of features like lower transaction fees, loyalty benefits, and higher transaction limits.
Basically, you fund the Neteller account with one of your preferred banking methods or other e-wallets first. The money is directly stored in your Neteller account. Now, you can use it at Neteller betting sites, send it to your friends, pay merchants online, buy crypto, or anything else your heart desires.
History of Neteller
You already know that this payment method you so eagerly want to use in Neteller betting sites first came to light back in 1999. The journey even before and since then is very inspiring at the very least.
As early as 2000, Neteller started processing payments for gambling sites! In retrospect, Neteller is one of the pioneering online payment methods in the iGaming industry!
During the initial days, the company was based in Canada. After 5 years of operation, it decided to move to Isle of Man, a hotspot for online gambling companies in 2004.
The company that started as Neteller PLC later acquired Netbanx Ltd., another payment company in operation since 1996. The merger resulted in the debut of Neovia Financial PLC. It happened Only a year after Neteller moved to Isle of Man which indicates a bright future for the company.
Following the trend, Neovia Financial PLC acquired Optimal Payments in 2011 and rebranded the entity as Optimal Payments Ltd. Lastly, 2015 marked the year when Optimal acquired Skrill Group and the mother company became Paysafe Group.
Neteller in India
Well, if you’re expecting some crazy over the top story on how Neteller entered Indian betting sites, you won’t find any. The payment method started its operations in India at the same time as it started its global escapades.
INR is an offered currency, out of the many. At the time of writing, pretty much all major Neteller betting sites are available in India. You can also use the account for all other e-wallet needs you can think of.
Advantages of Using Neteller
Needless to say, you’re willing to use Neteller betting sites for your sports betting in India because you know it has some amazing advantages. You just don’t know what they are yet. That’s where we come in. Let’s take a look at why Neteller is one of the most trusted and reliable payment methods for punters.
As mentioned earlier, you don’t need to step foot outside your home to sign up at Neteller betting sites. The same goes for the payment method in question. Everything is handled online which is a great benefit over traditional banking practices.
Being over 20 years old, Neteller has truly given meaning to the phrase “with age, comes wisdom”. It has one of the most impressive security structures among the e-wallets around the world. For starters, the money you deposit into your Neteller account is separate from the company’s expense account.
Moreover, it has one of the best anti-fraud toolset and KYC processes. You can find the complete list of measures on the provider’s website.
From what we’ve seen, global trends move toward what the general audience wants. For Neteller, it worked out in both ways. People wanted Neteller in betting sites so operators included it. At the same time, operators got more players because they offered Neteller as a payment method.
The result of this weird paradigm is the widespread availability of the method. Pretty much every betting site you can visit, whether it’s a dedicated Neteller sportsbook or not, you’ll most likely find this method.
Neteller in Betting
Neteller’s history in betting pretty much goes back to its inception. As you know, it started processing betting transactions in 2000. According to statistics of that time, Neteller handled more than 85% of the gambling payments across the world!
Till now, it’s the biggest area of business for this company. So, it’s obvious why Neteller betting sites are abundant in India. Whether it’s a local bookmaker or an international player, you can expect to find Neteller on the offered list.
How to Deposit and Withdraw Using Neteller?
By deposits, we assume you mean the deposits at Neteller betting sites. However, if you mean how to deposit into your Neteller account, we’re going to cover it too in an upcoming section. For this one, let’s stick to the betting account deposits and withdrawals.
How to Deposit in Neteller Sportsbooks India
Here is the step-by-step generic guide on how to deposit funds into a Neteller sportsbook. It’s “generic” because the actual process is going to vary from operator to operator.
- Pick one of the betting sites that accept Neteller from our list. All of these brands are tried and tested for maximum punter protection.
- If you already have an account, log in. If not, sign up using the “register” button.
- After your sportsbook account is ready, navigate to the cashier/banking/deposit page. There may be a dropdown menu or a list of payment methods. Whatever it is, choose Neteller.
- Enter the amount you want to deposit and click “next”. It should take you to Neteller’s online payment portal.
- Log into your Neteller account and follow the on-screen instructions to complete the deposit. The funds will instantly show up in your casino account.
How to Withdraw Using Neteller
One of the biggest advantages of using e-wallets like Neteller is that you can withdraw your funds with the same method too. It’s a great feature because most online sportsbooks also emphasize using the same method for deposits and withdrawals.
The withdrawal process is pretty much the opposite of the deposit. Let’s see what it might look like.
- Log into your bookmaker account and navigate to the cashier/withdrawal page. If you’ve used Neteller for deposit already, it should be selected.
- Enter the amount you want to withdraw. Enter the details of your Neteller account.
- You should receive a notification when the withdrawal request goes through. Now, you have to wait for the betting site’s processing period. Once processed, the money’s in your Neteller account immediately.
How Secure is it to Use Neteller in Betting?
That’s a fantastic question you’ve asked there. Security should be every Indian punter’s first priority.
To answer your question on Neteller’s security, it’s extremely secure. Why? You ask?
Well, for starters, Neteller offers 100% guaranteed transactions. It’s a very strong anti-fraud tool that comes in handy for both betting sites that accept Neteller and punters.
Neteller also identifies the users thoroughly before dealing with their money. From real-time identity and age verification to 256-bit encryption, everything is deployed for the Indian punters’ betterment.
How to Open a Neteller Account?
Getting yourself an account for the upcoming Neteller betting sites adventures is going to be a piece of cake. You know why? Because we’re going to help you get started with the registration process, every step of the way.
Firstly, visit the Neteller website and click “Join for Free”. You read that right. Signing up is absolutely free!
You should see the registration form. There are all standard fields like your name, country of residence, currency, email address, and password. Make sure you enter all valid information.
If you’ve tackled the first 2 steps, the 3rd one is just more of the same stuff. You need to provide your detailed address, phone number, and verify the account. The verification process is explained in the next step.
You may skip the verification if you want but we strongly recommend that you do it. It’s going to make you eligible for the loyalty program as well as increase the transaction limits for your account.
Simply follow the on-screen instructions for the verification. Before you start, keep your driver’s license, ID, credit cards, and utility bills handy. All of these will work as your proof of identity, proof of funds, and proof of residence in India.
So, the fees. This is one area a lot of the punters are concerned about. Thankfully, there’s nothing to be concerned about when it comes to Neteller betting sites in India. Because they don’t impose any fees in most cases!
It’s “in most cases” because it’s really hard to claim something for certain in the iGaming niche. Every operator is different and they have different policies. But generally, you shouldn’t have to pay any fees.
However, when it comes to depositing into your Neteller account and withdrawing from it, you have to pay fees.
For deposits, the fees range between 0% and 2.5% across all offered methods. And for withdrawals, you may have to pay up to 7.5% for Visa/Mastercard, 3.49% for Skrill, and 2.99% for money transfers.
Alternatives to Neteller
It’s kind of obvious which payment method you’d want to use in Neteller betting sites. It’s also obvious that there might be occasional problems with your account or you may not feel like using it.
For those scenarios, you need alternate payment methods in India. We’ll try to point you in the right direction for this section.
Both credit and debit cards are offered across the betting sites that accept Neteller. Visa and Mastercard are 2 of the oldest online payment gateways in the iGaming industry. They’re just as useful and effective now as they were back then. You usually don’t have to pay any fees for these methods.
The only drawback of using Visa/Mastercard is that the withdrawals are relatively slow. Moreover, some betting sites don’t offer Mastercard for withdrawal anymore.
Paysafe Card or Other Prepaid Vouchers
Prepaid cards are great for casino deposits. In fact, we think it’s the most convenient method for deposits, period. Thankfully, Paysafecard is available in India and you can get your hands on them at retailers or online.
UPI is another example of prepaid vouchers. To know whether you can use them at Neteller sportsbooks, check the website footer section where all the logos are displayed. If you can’t find them, feel free to contact customer support for clarification.
If you’re in love with Neteller, Skrill might be jealous of you. After all, they’re owned by the same company! Jokes apart, Skrill is a widely accepted payment method in the iGaming niche as well. Although the majority of the userbase is in Europe, Indian punters can benefit from it in time of distress.
Frequently Asked Questions
Neteller didn’t become one of the world’s top e-wallets if it wasn’t safe. The parent company, Paysafe Financial Services Limited is authorized by the Financial Conduct Authority (FCA) and offers lots of anti-fraud tools for the players.
Pretty much any payment provider you can think of, you’ll find it on the Neteller deposit page. Visa, UPI, Rapid, Net Banking, Mastercard, Maestro, etc. are all present. Withdrawals, however, are limited to Visa, Mastercard, bank transfers, and money transfers.
You need to verify your phone number at the very least. It makes your Neteller account more secure and unlocks a lot of other features like a higher limit. Depending on the use case, you might need to submit more documentation at Neteller betting sites.
You don’t have to pay the Neteller sportsbooks, per se but there are operational costs for using the payment method. For deposits, the fees go up to 2.5% of the amount and for withdrawals, it may go up to 7.5%.
First, check if your account has the necessary funds or not. If everything looks good, contact the betting site’s customer support. If they can’t give a good answer, refer to Neteller’s support team.
All deposits using Neteller is instant.
It depends on the operator’s withdrawal policy. In most cases, there is a pending period of 24-72 hours. Once the pending period is over, Neteller processes the withdrawal immediately.
Sure, you might know everything there is about Neteller betting sites by now. But a few tips every now and then don’t hurt anyone, do they? So, in this section, we’re going to share our best tips with the Indian punters to help assess their options better.
- Don’t Rush
As cliché as it may sound, it’s a serious problem that many rookie punters suffer from. They jump the gun too soon only to find out there was a mistake along the way. There have been instances where players accidentally added an extra zero on their deposits!
So, our first tip is always to take your time before deposits and withdrawals. Double-check the values before giving it the final go-ahead.
- Don’t Let the Fees Surprise You
We know we’ve told you there are no fees at Neteller betting sites. But we’ve also said, “in most cases”. It means that there are operators who will impose fees on your deposits and withdrawals. Wouldn’t it be better if you knew about them before you started?So, go through the Terms and Conditions page of the betting site you’re planning on using. Or, if the website has a dedicated payment page, you may find the information there too.
- Make Sure Neteller is Available
Another cliché tip but there’s serious footing behind this one too. Many players sign up in the hope of using Neteller as the payment method, only to find that it’s not offered by the operator. It has happened in the past and it may very well happen to you.So, our 3rd tip is to make sure Neteller is an offered payment method at the betting site. Even if the footer section has the logo, you should double-check with customer support.
- Understand the Limits
Based on your account status, Neteller has limits. These limits are imposed on a per transaction basis. There are also limits for daily, weekly, and monthly transactions.Interestingly, the same is true for Neteller betting sites. You can find the information related to the limits on the T&C page of the bookmaker’s website.
Summary: Neteller betting
Neteller betting sites are wonderful for punters who want a seamless online betting session. The payment method is extremely secure and it boasts some of the most innovative features a payment method can offer.
So, what are you waiting for? Pick the betting sites that accept Neteller from our list and start enjoying yourself right away.