Originally a Canadian company, having launched there in 1999, but NETELLER is now considered to be more of a European mainstay. The owner, then called Optimal Payments, and now referred to as Paysafe Financial Services Limited, moved the organization to the Isle of Man in 2004.
NETELLER was designed as a way to help businesses and customers make and accept payments in cases where traditional methods may not work, most notably to and from online gambling operators. The alternative funding provided security, privacy, and a higher rate of acceptance.
Paysafe Financial Services was given the seal of approval by the Financial Conduct Authority in the UK under the Electronic Money Regulations of 2011, regarding facilitating electronic money transactions. Additionally, it’s a leader in electronic security measures and anti-money laundering protocols. NETELLER makes it a priority to maintain its secure status for both itself as a company and its customers.
NETELLER has been operational for more than 17 years now and is one of the largest independent e-wallet services. It processes billions of dollars in transactions each year to and from a huge number of geographical locations. It does offer different services depending on the country, so there isn’t a standard global menu with across the board offerings and fees that are location-specific.
To simplify a description of the service, though, it basically breaks down into two main offerings:
1. The NETELLER e-wallet
2. The NETELLER Net+ card
The wallet service will be available in a lot more locations than the card service. The Net+ card has a bit of a history to it, so we’ll start out by sharing the story of the card. The Net+ card, in most places, is a prepaid Mastercard and it was initially available to NETELLER customers in more than 100 different countries.
However, back in 2016, both Skrill and NETELLER (under the same Paysafe ownership) opted to pull their card service out of 100 countries leaving customers with a simple NETELLER wallet or no service at all.
ecoPayz is another wallet service that also pulled their ecoCards out of most areas except for 34 SEPA countries just like NETELLER.
The current list of those SEPA (Single Euro Payments Area) locations that still can participate in the Net+ Prepaid Mastercard service are:
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom
Needless to say, this change did not go over well with NETELLER’s cardholders. There were many complaints posted online about the inconvenience that it caused and because customers had paid a small fee for the card issuance, and that fee was never refunded to anyone.
There is another Net+ prepaid card currently now available and, shockingly, it’s for US customers only. We say this with surprise because the United States is comparatively the most restricted. Skrill is very limited in its release, and ecoCard is not available at all. Other payment methods like the Paysafecard or Ukash and some e-wallet and prepaid solutions are prohibited in the states due to the heavily legislated gambling situation, as most of these services are used for funding online player accounts.
In fact, NETELLER was originally in the US early in its inception, but accounts were frozen and eventually refunded back in 2007 after the mass exodus of gambling operators and financial institutions that had a direct relationship with online betting.
NETELLER is back, though, and US customers have a Net+ card that’s powered by Discover. We’ll get into the fees and the structure of that card, but it does provide a good e-wallet solution aside from PayPal.
Incidentally, the US may have a Net+ card, but when you compare deposit methods to those offered in other regions, there is only one, we repeat that… one way to fund a NETELLER account and that’s with Visa. For NETELLER wallet holders in other regions, they can select from up to 64 different ways to fill their wallet.
So, let’s check that scoreboard again.
The United States = 1
Other locations = 64
We’ve provided you with the locations where the Net+ Prepaid Mastercard is offered, and we’ve also mentioned that in the United States, wallet holders can also take advantage of a Net+ Discover card. Let’s talk about the service in general, though, before moving on to the actual NETELLER registration.
Albania, Algeria, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Azerbaijan, Austria, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Belarus, Belize, Benin, Bermuda, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Cameroon, Cambodia, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, Christmas Island, Colombia, Comoros, Costa Rica, Croatia, Curaçao, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Estonia, Ethiopia, Falkland Islands, Fiji, Finland, France, French Guiana, French Polynesia, French Southern Territories, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guatemala, Guernsey, Guinea-Bissau, Guyana, Haiti, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Jordan, Kenya, Kiribati, Korea (Republic of), Kuwait, Lao People’s Democratic Republic, Latvia, Lebanon, Lesotho, Liechtenstein, Lithuania, Luxembourg, Macao, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Moldova, Monaco, Montenegro, Montserrat, Morocco, Mozambique, Namibia, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand, Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Norway, Oman, Palestinian Territory, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Qatar, Réunion, Romania, Russia, Rwanda, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Singapore, Sint Maarten (Dutch), Slovakia, Slovenia, Solomon Islands, South Africa, Spain, Sri Lanka, Suriname, Svalbard and Jan Mayen, Swaziland, Sweden, Switzerland, Taiwan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turks and Caicos Islands, Tuvalu, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Vanuatu, Vatican City State, Venezuela, Vietnam, Virgin Islands (British), Wallis and Futuna, Western Sahara, and Zambia.
Just like its competitors, setting up an account is a quick and easy process. It’s a matter of providing some basic identification information and then establishing a funding method.
When you set up an account in the United States, you won’t be spending too much time going through funding choices as there is one and only one, and that’s Visa. So, let’s talk about the huge list of ways in which wallet holders in other regions can top off their account. These will vary depending upon the actual location of the customer, but this is the listing for International accounts set up in English.
The primary account is called an unverified Account, and it is the core level of this e-wallet’s services. It’s the result of the basic registration without any identity verification. In most places, this account is capped off at $500 in total transactions, but some countries will allow up to $2,850 for unverified members.
Unless someone is using the account to make a one-time fast transaction, verification is going to be the next step. It’s also a relatively straightforward process whereby two ID documents are uploaded into the profile area. These will provide proof of identity and evidence of address, and then will open up higher account limits and the ability to withdraw money as soon as the customer becomes a VIP member. VIP status is necessary for limit increases and withdrawals to be approved.
The VIP membership tracks use and determines the limits and any possible fee reductions.
The entire process is conducted as follows:
1. Open a basic account based on a quick registration form.
2. Select a funding method.
3. Submit verification documents (identity and proof of address).
4. Become a VIP member.
5. Optional (for customers seeking to transfer significant amounts of money, a personal request can be made to the company’s customer service department and will be reviewed for possible additional limit increases).
At one point, NETELLER was estimated to be processing about 80% of online betting transactions globally. Of course, everything changed with the mid-2000s exit of the US as well as the elimination of Net+ cards in most locations.
Despite the relative reduction in market ownership, NETELLER is still one of the top financial funding methods chosen by major online bookmakers. Its client list is extensive and includes Irish bookmaker Paddy Power, the big guys from the UK such as Stan James and Coral, Sports Interaction also known as Canada’s sportsbook, and prominent Asian bookies SBOBET and Dafabet.
Although most players can no longer use the Net+ card in conjunction with sports betting, the internet wallet service is still valuable as it offers a fast transactional turnaround with little fees. Additionally, their currency exchange service is only 1% for VIP members.
We opened the door to the fee discussion so let’s delve into the various costs associated with a NETELLER wallet account and the Net+ cards where available.
Charges come into play when customers either deposit to their wallet or withdraw from it. Transactions are usually made at no cost except when they involve currency exchange, and then there is a 3.99% upcharge on the foreign market rate.
We’ll start with deposits, and we’ll use the International menu posted in English and using Euros for our illustration.
All fees depend on the particular funding method chosen, but there are a few free ones that will save wallet holders a bit of cash.
It’s quite a nice menu for deposits, but withdrawals are a different story. You can’t just reverse the process, as there are only five different ways to cash out funds from a NETELLER wallet, at least in certain regions.
For the SEPA countries that can participate in the Net+ Prepaid Mastercard program, they have a choice of a traditional plastic card that can also be used for ATM withdrawals or a Virtual card that is only for online use. The card can be set up in one of eight currencies: GBP, USD, EUR, CAD, SEK, DKK, AUD, and JPY.
Here are the associated fees and limits in US Dollars:
New card – €10 one-time shipping and handling
Transactions per day – ATM – 4
Transactions per day – POS purchases – 10
Maximum daily transactions – ATM – $1,000
Maximum daily transactions – POS – $3,000
Additional fees per transaction – ATM – 1.75%
Additional fees per transaction – POS – free
Net+ Virtual Prepaid Mastercard – verified accounts
Transactions per day – POS purchases – 10
Maximum daily transactions – POS purchases – $7,000
Let’s talk about the US now…
Deposits – via Visa Credit or Debit – 2.50%
As most NETELLER accounts no longer have a card associated with them, NETELLER is primarily used for sports betting by facilitating a wallet transfer. The customer must have the funds in their NETELLER e-wallet and then specify how much they want to send and enter their password. It’s as easy as that.
The sportsbook usually opens up the deposited money for betting within just a few minutes as this is a near-instant way to fund an account.
The limits are going to vary as they’re based on both the NETELLER account restrictions and the top amount specified by the bookmaker. Most bookies rely on this e-wallet to individually restrict their customers on the transfer amounts and NETELLER’s daily limit to receive funds (at least in the US anyway) is $10,000.
Not only are the deposits fast, but withdrawals are too, as long as the operator has a quick turnaround for approving the payouts. That’s the only thing that holds up receipt of funds. Bookmakers go through and individually review cash out requests before the transfer is initiated.
NETELLER is one of the most widely accepted payment methods through online bookies coming in just under credit and debit cards, and bank transfers. It’s been a partner of the gambling industry since 2000 and has established partnerships with the biggest sportsbooks out there.
Even Asian books like 188Bet, Dafabet, and SBOBET utilize NETELLER, but limit it to GBP or EUR transactions so they can accommodate their European players. Although Bookmaker does offer NETELLER, some other North American operators like 5Dimes, Bovada, and Bodog don’t include it amongst their financial options.
In Australia, Skrill is more popular. Usually the two go hand in hand, but Sportsbet provides for Skrill payments and not NETELLER.
You don’t need to look too intensely to come across a sportsbook that does, though. 888sport, Betfair, Betonline, Betway, Pinnacle, Unibet, William Hill, they all offer NETELLER for both deposits and withdrawals.
What are the restrictions for new wallet holders?
NETELLER customers need to be 18 years or older and live in one of the jurisdictions where it expressly provides service. For Net+ service, that would be one of the SEPA countries or the United States with its Net+ Discover card, but basic wallet service covers a much larger area.
If I deposit to a gaming account using NETELLER, can I withdraw using another method?
We can’t speak for the bookmakers, but it’s usually mandated that players use the same method for depositing and withdrawing. They may allow for bank transfer payouts, though, so it never hurts to check.
Why would I use NETELLER if I have to fund my wallet using my bank account or credit card anyway?
Outside the US, it’s not necessary to have a bank account or credit card linked to an e-wallet. Other regions allow for many other funding methods to be used, even Bitcoin. In some areas, NETELLER does provide the prepaid Net+ card that is also a benefit to wallet holders in addition to private and safe transactions.
NETELLER is part of the largest online payments system through its Paysafe Group ownership that includes sister providers Skrill and Paysafecard. It has evolved beyond simply providing gambling payment services and has recently entered into the world of partnerships as logo sponsor for the English Premier League’s Crystal Palace Football Club.
There are other similar products like Skrill and PayPal, but each provider has a slightly different menu of services and fees so smart consumers should isolate their top preferred features and then compare them amongst all available services. For example, NETELLER has a range of 1.75 – 4.95% on credit card deposits whereas Skrill offers 1.90%. Skrill only charges 5.50 EUR for bank transfers as opposed to NETELLER’s €7.50.
When it comes to using this e-wallet for sports betting, though, the choices are endless. It’s not like PayPal where you have to work hard to locate a bookmaker that accepts it. NETELLER is on most bookies’ menus for both depositing and payouts, so it’s an excellent choice for international punters.