Neteller Review

Safety and security in online bingo have come a long way over the years and the payment industry is no exception. Players once utilized e-wallets as a means to avoid using personal banking and credit card details when gambling online and as the industry evolved, the concept of instant transfers has become unbeatable. Unfortunately, the convenience of lightning-fast withdrawals has been tarnished for many players as a result of the decision to restrict the Net+ Prepaid MasterCard for users in over 100 countries in 2016.

Neteller's payment services are available to users across hundreds of countries including the United States, however, there are some limitations in terms of available services based on your geographical location. The company conforms to the regulations within the regions it serves, which explains why services are limited in some areas and even banned altogether in others. For example, a US account holder will not be able to use their Neteller account for the purposes on online gaming within states where it is not yet legal while a UK resident will have full access to deposits and withdrawals with online operators.

Owned by the Paysafe Group Plc, formerly known as Optimal Payments Limited, Neteller makes payments to merchants, both online and off, easy with free online registration. Paysafe Group also operates Paysafe Card and Skrill, formerly Moneybookers, which it acquired in 2015.

Funding your Account

Signing up is free but funding your account may not be. How you’re able to do this will depend on your location. Depositing from a bank account is free but all the other options come with a price. For example, Bitcoin is among the lowest fees (as of December 2016) at 1% while the fee for using Visa as a funding method ranges from 1.9% - 4.95%. All of these fees are subject to change at any time. When you access the website, the fee list will be adjusted based on the options available to you based on your country.

Net+ Prepaid Card and Restrictions

In addition to your e-wallet account, they offer the Net+ Card. This prepaid product featuring the MasterCard logo allows users to conduct PIN or signature-based transactions and ATM cash withdrawals. You can even use the card online or over the phone just as you would with any credit or debit card via merchants that accept MasterCard. With the exception of cash withdrawals and international transactions, all purchases come without any fees charged to the user.

In terms of online gambling, Neteller boasts a higher acceptance rate with its Net+ Card compared to others plus the introduction of additional security features help to keep your personal information safe. Cardholders may use this product to transact with online gambling operators within regulated markets unless residing in a country outside of the Single Euro Payments Area (SEPA).

What was once among the most preferred e-wallets out there, quickly lost a lot of customers when access to the Net+ Card was cut off on November 25, 2016. The restriction of the card meant that funds in the account were no longer immediately accessible to users unless they made online purchases with merchants that accept this payment method. Customers in countries like Australia and Brazil now have to transfer their cash to a bank account to be able to withdraw from an ATM.

Hundreds of online bingo brands support the Neteller payment method when making deposits or withdrawals. A sign of a good bingo operator is withdrawal approval within 24 hours following the immediate receipt of your cash but again, this is only for users within the SEPA region.

Fees

As with any banking services, there are fees involved in various transaction types but throughout 2016, Neteller has increased fees for various transaction types. Even users that still have access to their MasterCard have been disappointed with the cost of being a Neteller customer. We recommend looking over the fee list before choosing this e-wallet.

Even withdrawing isn’t free unless you make a purchase with a partner site. Thought of transferring to your bank account as an option? That’s going to cost you too.

Foreign transactions are pretty high as well at nearly 5% (as of December 2016). Make sure your account remains active or you’ll also be subject to an administration fee after 14 months.

Below is a list of the bingo operators that accept transactions via this payment method.

Neteller Online Bingo Sites FAQ

1. Does Neteller offer a VIP Program for its account holders; if so, what are the benefits offered?

- Yes, the Neteller VIP Program allows players to qualify for specific ranks depending on the amounts they have gone through within a calendar year. With ranks ranging from Bronze and Silver, through Gold and Platinum, up to Diamond, players can enjoy all the better withdrawal limits, ATM use, cashback percentages, lower currency exchange fees, and other benefits to further personalize their online payment experience.

2. What kind of additional account access protection is offered to these users?

- Neteller aims to put account holders in charge of their protection. While they still comply with all regulatory and security standards, they are additionally put in charge of choosing the extra security method applied at their account access. The options include dual-factor authentication on the one hand and Secure ID on the other.

The former includes a one-time access code sent to a linked account or phone number at each login (or transaction request) for confirmation purposes. On the other hand, Secure ID is a specific feature which issues an account holder a unique 6-digit code that no one but themselves is aware of. This code is again used to confirm such operations as mentioned earlier, only in cases when 2-factor authentication is not applied.

3. How does the Net+ Virtual Prepaid MasterCard work?

- The Net+ Virtual Prepaid MasterCard is an online prepaid card that users can obtain in order to use it as an alternative mode of payment anywhere where MasterCard is accepted. In order to execute transactions to such merchants, users simply use the funds stored in their linked Neteller account. The Virtual Prepaid MasterCard by Net+ comes with its own 16-digit number, CVV code, expiration date, as well as information on the holder.

All you need to do to obtain one (via email) is to access the settings to your actual plastic prepaid card and ask to be issued a virtual one. The first Net+ Virtual Prepaid MasterCard is free of charge, while each of the following will cost you 3USD/2.5EUR/2GBP, with the possibility to get up to five such accounts.

4. Is Neteller available for use via smartphones and tablets and how?

- Yes, Neteller has an inherent app for smartphones and tablets alike. Those using either one of the top most popular mobile operative systems – Android and iOS, are free to download the app from the official site or Google Play Store and Apple App Store, respectively.

This way, mobile bingo players can enjoy the convenience of safe and accessible online banking via Neteller without needing a desktop or laptop to finish the process.

5. What are some of the top cryptocurrencies I can buy and sell through Neteller; are there any limits tied to these practices?

- Neteller users are able to buy and sell the following crypto tokens – Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, EOS, XRP, XLM, Litecoin and 0x. The fees for these transactions depend on the currencies used – EUR and USD, as opposed to any of the remaining 20+ accepted currencies.

When it comes to limits for these transactions, account holders will need to account for some minimum and maximum amounts. While it depends on the exact exchange rate, most cryptos have minimum limits around 10EUR. On the other hand, maximum limits depend on your account type and specifics.