Neteller Merchant Sites
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.
Other Merchant Sites: 3.99% only when there’s a foreign exchange; Overall Structure — Fees to Fund Neteller Account: 0 — 5%; Transfer to/from Betting Sites: FREE; Transfer to Other Neteller Accounts: FREE; And that’s about to it, there’s nothing much more to it. Betting Sites that accept Neteller. Instant deposits, withdrawals & payouts trusted by millions worldwide. Email or Account ID is a required field. Password is a required field.
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.
Paysafe Financial Services Limited (FRN: 900015) is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuance of electronic money and payment instruments. Paysafe Payment Solutions Limited, trading as NETELLER and Net+ Prepaid Card is regulated by the Central Bank of Ireland.
- 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.
Deposit Methods
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.
Neteller Merchant Sites Online
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.
Withdrawal Methods
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.
Neteller Fees
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 —
Advantages
- 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
Disadvantages
- 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.
Legal Aspect
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.
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Comparing NETELLER versus Payoneer, NETELLER wins on cost and transfer speed with its free instant cross-border money transfers through related-company Skrill. Payoneer may have a slight edge on the speed of international cross-border bank transfers, which take 2-5 business days for Payoneer and 3-5 business days for NETELLER to be received.
NETELLER lets users buy and sell cryptocurrencies as an additional service.
To compare Payoneer vs. NETELLER, we focus on bank transfers and other money transfers from these payment services companies, and consider the following:
● Fees and transfer speed
● ACH and other global money transfers / Prepaid debit cards
● Multi-currency capabilities
● Security
● Ease of use and Customer support
What is Payoneer?
Payoneer is a secure payment service specializing in making global mass online payments from its customers to freelancers or contractors, affiliates, and online sellers, including e-commerce companies. Payoneer’s headquarters is in New York.
Neteller Merchant Sites New
Payoneer is used by freelancing platforms like Upwork to pay freelancers, enterprise companies like Google to pay independent contractors, Airbnb to pay short term rental owners, and by Amazon to pay e-commerce online merchants in the Amazon Marketplace and Amazon Associates affiliate payouts. Payoneer can make cross-border payments in 200+ countries and 150+ currencies.
How Does Payoneer Work?
Payoneer’s Global Payment Service pays professionals using a local bank transfer in a Payoneer receiving account. Payoneer offers these currencies: USD, EUR (euro), GPB, JPY, AUD, CAD, and MXN for local bank transfers to a Payoneer account. Payoneer account holders can withdraw funds to their local bank account in local currency, or pay another Payoneer customer.
Payoneer offers other types of money transfer services besidesGlobal Payment Service, including Request a Payment, Mass Payout Company, and Make a Payment. Currency exchange rates and fees may apply. Payment methods include ACH bank debit (eCheck), local bank transfer, and credit card or debit card payments, or Payoneer Account with a linked Payoneer Prepaid Mastercard.
Payoneer is easy to use.
What is NETELLER?
NETELLER is a secure global digital wallet, online payment, money transfer, and cryptocurrency buying and selling company. NETELLER handles merchant payouts, online gambling payouts, getting global client deposits to international brokers, payments to global suppliers, and payouts to affiliates.
NETELLER is now owned by Paysafe Group, with the same Isle of Man-registered parent company as Skrill, its competitor in the e-wallet and money transfer industry. NETELLER and Skrill work together to allow fund transfers between a Skrill account and NETELLER Account e-wallet. NETELLER and Skrill have the same contact address in London per the Paysafe Group website.
How Does NETELLER Work?
NETELLER offers payments or withdrawals via bank transfer, member wires, money transfers, and merchant sites. For instant free money transfers to a bank account or mobile money account through Skrill, the sender needs a NETELLER Account, a Skrill Account, and the recipient’s email. The money transfer recipient doesn’t need a NETELLER Account. Bank transfer withdrawals can be only be made to a personal bank account.
NETELLER lets customers buy and sell many cryptocurrencies instantly with “more than 100 alternative payment methods and 28 currencies into Bitcoin, Bitcoin Cash, EOS, Ether, Ethereum Classic, Litecoin, XLM, XRP and 0x”.
NETELLER offers an annual VIP benefits program to users at specified transaction amount levels when they transact with merchants and buy or sell cryptocurrencies with their NETELLER wallet (used for payouts and pay-ins). NETELLER VIP levels range from Bronze to Diamond for calendar year transactions between $10 thousand and $2 million.
NETELLER is easy to use.
How to Upload Funds to NETELLER
Customers can fund a NETELLER account by uploading funds from Skrill, paysafecard, Paysafecash, Bitcoin/Bitcoin Cash, VISA, VISA debit, or specific other sources for a 2.5% transfer fee. NETELLER waives this transfer fee for single Upload Transactions of $20,000 or equivalent, after deducting any applicable bank or currency conversion fees.
How to Transfer Funds from PayPal to NETELLER
Can I transfer money from PayPal to NETELLER? No. Instead, select a payment method to send money from your PayPal account to your bank account, then deposit the funds in NETELLER. Or use a reputable third-party exchange service that charges a transfer fee of about 5% of the transfer amount.
You can withdraw funds from NETELLER to your bank account, then send the money to PayPal. Or, use an exchange service to transfer funds from NETELLER to PayPal. Do your due diligence to be sure that you choose a reputable exchange service and don’t get scammed by a fraud. PayPal charges transaction fees on money transfers sent outside the U.S. and possibly funding fees.
What Fees Does Payoneer Charge?
For payouts by payors, Payoneer charges different transaction fees depending on the payment method. For recipients to get paid, withdraw money to a bank account in a local currency, and withdraw money to a bank account in the same currency, Payoneer has a fee schedule. If both the payment sender and receiver have a Payoneer Account, the money transfer payment is free.
Payoneer Fees to Pay Suppliers and Contractors
For payouts, Payoneer fees for payments made to suppliers and contractors via ACH Bank Debit, credit card, and local bank transfer are 1% ACH bank debit, 3% credit card, or 1% local bank transfer. Payor costs may be passed on to payees.
Fees for payments to suppliers and contractors from a Payoneer account are free if the recipient also has a Payoneer account. If the recipient doesn’t have a Payoneer account, then the 2% over market rate (including currency conversion) fee for bank transfers applies. In some instances, Payoneer will charge a fixed fee instead.
Payoneer Fees to Get Paid
For payments directly from a customer, Payoneer charges 1% per U.S. ACH or local bank transfer or 3% by credit card in all currencies. Fund recipients can get paid in a receiving account from another Payoneer customer for free. Marketplaces and Networks set their fee rates for receiving payments.
Payoneer Fees to Withdraw Money to a Bank Account
For pay-ins, Payoneer charges fees up to 2% above the market rate(including the conversion fees for foreign exchange) at transaction time to withdraw money to a customer’s local bank account. High earners get lower fees. Bank processing fees, landing fees, or intermediary fees may be charged by a bank.
For a withdrawal from Payoneer to a bank account in the same currency, $1.50 USD, € EUR, or £ 1.50 GPB, with some Payoneer restrictions.
What Fees Does NETELLER Charge?
NETELLER charges upload fees to fund a NETELLER Account and withdrawal fees. NETELLER money transfers through Skrill are free.
NETELLER Money Transfer Fees
NETELLER’s free instant money transfers to a bank account or mobile money account are made through sister company Skrill, which is also owned by Paysafe Group.
NETELLER Withdrawal Fees
NETELLER charges withdrawal fees of $10 for a Bank Transfer, $12.75 for a Member Wire transfer, $0 for Merchant Sites, or normally 1.45% of the transfer amount, with a minimum of $0.50 for a Money Transfer. NETELLER charges higher MT fees depending on customer registration date and deposits or funding source for a NETELLER Account. For global bank transfers, NETELLER charges a 3.99% foreign exchange (FX) fee if the customer’s bank account is in a currency other than U.S. dollars (USD).
For customers who registered on NETELLER after April 8, 2020: “If you haven’t made any deposit to your NETELLER account, or have deposited only via Skrill, paysafecard, Neosurf, Qiwi or BitPay, a higher fee of 4.49% will apply” to Money Transfers. Different fee exceptions apply to Money Transfer customers with different NETELLER registration dates.
Payoneer Transfer Speed
Payoneer standard transfer speed is 2-3 business days within the U.S. or 2-5 days globally.
NETELLER Transfer Speed
NETELLER money transfers are instantly sent and received worldwide. NETELLER sends bank transfers to certain SEPA countries and Andorra. Bank transfers are received within 3-5 business days. But that’s after a micro deposit to the customer’s bank account is confirmed for their first bank transfer withdrawal in 2-5 business days. SEPA is the Single Euro Payment Area.
Payoneer Multi-currency Capabilities
According to Payoneer, “Payoneer offers receiving accounts which enable you to receive local bank transfers from companies and marketplaces in the US, UK, EU, Japan, Canada, Australia, and Mexico directly to your Payoneer account.” Payments are received in USD, EUR, GBP, JPY, AUD, CAD & MXN.
Credit card payments can be made in almost all currencies. Payoneer serves over 200 countries.
NETELLER Multi-currency Capabilities
NETELLER pays worldwide to over 200 countries in many currencies. NETELLER offers 27 account currencies with a NETELLER account. NETELLER charges a 3.99% fee when currencies are converted.
Does Payoneer Have a Prepaid Card?
Yes. Payoneer Prepaid Mastercard holders use the Mastercard debit card for online and in-store purchases. Or, they use an ATM (usually for a fee) to withdraw funds from their Payoneer account.
Does NETELLER Have a Prepaid Card?
Yes. NETELLER’s Net+ Prepaid Card is linked to a NETELLER Account. According to NETELLER, it’s used like a debit card linked to a bank account. The Net+ Prepaid Card is issued by Sutton Bank, an FDIC member.
What Is Payoneer Security?
Payoneer’s security features include encrypted passwords, firewall to protect personal information, PCI annual audits for PCI DSS compliance, physical security, anti-hacking, and fraud detection monitoring
What is NETELLER Security?
NETELLER has security measures, including using security features and anti-fraud tools. NETELLER claims to be safe if users take adequate security precautions and review their NETELLER Account transaction history. NETELLER uses industry-standard encryption of sensitive information, a secure data center, 24/7 account monitoring, 24/7 customer service, 2-step authentication, and Secure ID for security.
NETELLER complies with regulations from its international financial regulator. This compliance provides additional assurance that NETELLER takes security precautions to protect user funds.
To improve security, NETELLER advises users to review their transaction history, change their passwords, and notify NETELLER if they see account misuse. Users should also use anti-virus software and firewalls and the most recent web browser version, avoid public computers, beware of phishing email scams, use 2-step verification, and log out of their NETELLER Account.
Payoneer Customer Service
Payoneer customer service choices include an online knowledge base and FAQs and phone, message, or live chat online support, and support through Payoneer Community. Payoneer offers multilingual, 24/7 customer support.
NETELLER Customer Service
The NETELLER Customer Contact Centre is open 24/7 for fast support. NETELLER also offers online NETELLER Support Center for help and support and FAQs, email, web contact form for 1-2 business day response, phone support with 16 hotlines by residence country, 24/7 live chat for VIP members, and support on social networks, Twitter and Facebook.
Does Payoneer Have Mobile Apps?
The Payoneer mobile app is available for Apple iOS iPhone, iPad, iPod touch, and mobile devices using the Google Android operating system. The Payoneer app allows businesses to pay professionals, manage their Payoneer account funds and currencies, and withdraw funds locally.
Does NETELLER Have Mobile Apps?
The NETELLER – Money Transfer mobile app from Skrill Ltd. is a digital wallet app for paying or playing online, sending or receiving money transfers, using a prepaid card, or making secure online payments after NETELLER Account verification. It’s available for Apple iPhone and iPad mobile devices for iOS and Google Android operating systems.
Payoneer Pros
Payoneer focuses on its niche of making payments for freelancers, service providers, affiliates, and e-commerce companies. Payoneer makes cross-border payments and uses local currency Payoneer Accounts. Payoneer payments can be made to more than 200 countries worldwide. Payoneer offers free transfers from a Payoneer Account if fund recipients also have a Payoneer Account. Payoneer has over four thousand current users with Payoneer accounts, making it easy for payors. Payoneer provides good global customer support in over 35 languages.
Payoneer Cons
Payoneer’s transfer fees are higher than NETELLER’s free offering for money transfers through Skrill unless both sender and receiver have a Payoneer account for free transfers. Although Payoneer has good payment security overall, Payoneer could add more approval and fraud controls.
NETELLER Pros
NETELLER free instant cross-border money transfers to a bank account or mobile money account or e-wallet provide both instantaneous speed and zero cost. These money transfers are made through related- company Skrill. NETELLER allows users to buy and sell cryptocurrencies and use these purchases plus merchant transactions to qualify for VIP benefits.
NETELLER Cons
NETELLER doesn’t have many cons. NETELLER bank transfers for withdrawals can only be made to a personal bank account. NETELLER charges upload fees for funds from certain sources, including Skrill, Paysafecash, paysafecard, and Bitcoin. Receiving a NETELLER global bank transfer may take an extra day. For global bank transfers, NETELLER takes 3-5 business days vs. 2-5 business days for Payoneer.
Payoneer vs. NETELLER – In Summary
Free Merchant Sites
Payoneer and NETELLER both provide good solutions, including global cross-border payments, Your decision on which software to select for payments will be based on your business needs.
Another option to consider is Tipalti global mass payments automation software. Tipalti automates the entire payables, approvals, and payments process to streamline workflows and save up to 80% of your time. Tipalti lets you close the books sooner each month and at year-end. Tipalti payables and payments automation solution provides supplier self-service onboarding, validation, tax compliance, fraud controls, and a reduction in erroneous payments.