With over 20 years of experience to its name, Neteller has long been regarded as one of the leading e-money transfer service. Despite being operated by British-based company Paysafe Group, Neteller is available in an increasing number of countries, including India. Neteller betting sites are very much in demand, with this page outlining the very best bookmakers offering this payment method. So, if you are looking for a quick, convenient and cheap payment option for depositing and withdrawing funds, be sure to keep reading.
What is Neteller?
Founded in 1999, Neteller is an e-wallet that allows users to deposit funds and pay for good/services online. Also commonly referred to as a digital wallet, Neteller is has developed an excellent reputation for its security and speed, with customers not having to share their bank card details with outlets, including online bookmakers. Neteller never lends it’s customers money, while it is licensed and regulated by the Financial Conduct Authority.
Neteller is now synonymous with the online gambling industry, having first processed payments in this area in July 2000. At one point, Neteller processed payments for around 85% of all online gambling operators. Despite being restricted in many countries, including Hong Kong, Canada and Turkey, India is one of the countries in which Neteller is legal.
How Does Neteller Work?
Neteller is an e-wallet platform, meaning that users can view their balance, transactions and make payments via the respective website or mobile app. Neteller does not have any physical branches, however it is a payment method accepted by millions of outlets, including on betting sites. Users can add funds to their Neteller account through bank cards and bank transfers, with the majority of payments being processed free of charge. We will outline the different Neteller fees later on. Payments via Neteller on betting sites mean that punters are never forced to share their bank or card details with their chosen bookmaker. Neteller Mastercard Net+ cards are not available, granting holders instant access to their funds. With such prepaid cards, can be used to make payments online and in person.
History of Neteller
Neteller was founded by Optimal Payments Limited in 1999, a company that has since been rebranded as Paysafe Financial Services Limited. Operated by the same company as Skrill and Paysafecard, Neteller now processes over $1 billion each year, making it the largest independent money transfer platform in the world. Neteller is active in over 200 countries, with payments being processed in 20+ different currencies too. Neteller is also available in 16 languages, with the provider now also facilitating Bitcoin payments. All transactions are processed under the banner of the Financial Conduct Authority (FCA). Neteller is headquartered in the Isle of Man, while also having offices in Canada and New York.
Neteller in India
Betting customers in India are legally able to sign up at Neteller and use this payment method to fund their gambling activity. However, it is worth noting that it is not so easy to make withdrawals via Neteller in India. In fact, with Neteller being based in Britain, it may well be that your card provider or bank will block such transactions. In order to explain why this is, it is important to look at the Reserve Bank of India, which has enacted the Liberalised Remittance Scheme. The scheme sets limits in terms of how much Indian’s can move out of the country every 12 months. However, those banking through the ICICI Bank or Federal Bank in India will potentially not encounter such issues.
Advantages of Neteller
It is not luck that Neteller has got to where it is today. The payment method is now available at the majority of betting sites, with punters taking advantage of it for a number of reasons. Based on our experiences, the following are the main pros of using Neteller to fund your betting activity:
Availability – It is now difficult to find an online bookmaker that doesn’t accept payments via Neteller. So, whether you are new to online betting or are something or a professional, Neteller is a payment method well worth considering, having developed an excellent reputation within the industry.
Speed – The speed of transactions via Neteller is another major advantage. Deposits to betting accounts are instant, while withdrawals are generally processed in under 48 hours.
Safety – With Neteller being regulated by the FCA and the provider having a number of security measures in place, safety is not an issue for users. Secure Socket Layer (SSL) encryption technology helps to keep all personal and financial details secure at all times.
Neteller in Betting
Neteller and online betting go hand in hand. Neteller has a reputation for being one of the most reliable payment methods available to punters today. In turn, bettors are attracted to Neteller because of its speed and security. The lack of any significant fees and 24/7 customer support only makes Neteller all the more appealing, with the payment method being available to use on the majority of our recommended Indian betting sites.
How to Deposit & Withdraw Using Neteller
Unlike some other payment methods at betting sites, Neteller can be used to both deposit and withdraw funds. Once you have created a Neteller account, the following step by step guides will help you in uploading money and taking home winnings.
- Enter the website or mobile app of your chosen bookie.
- Log in to your betting account.
- Locate the cashier page and select the deposit option.
- Select Neteller as your preferred method of payment.
- Enter the amount you wish to deposit.
- Enter your Neteller account ID and authentication code.
- Wait a few moments for your funds to clear.
- Enter your bookmaker’s betting site.
- Navigate to the cashier page.
- Choose the withdraw option.
- Select Neteller as your chosen method of withdrawal.
- Enter the amount you wish to withdraw, based on your account balance.
- Enter your Neteller account ID and authentication code.
- Wait for 1-2 days for your funds to arrive in your Neteller account.
How Secure is Neteller in Betting?
One of the main reasons as to why punters use e-wallets such as Neteller is the fact that they do not have to share their bank or card details with their bookmaker. However, this is not the only way in which Neteller ensures for the safety of betting customers. All personal data is secured thanks to encryption technology, whilst also engaging with the Securecode programs used by Visa and Mastercard. Meanwhile, with Neteller not being a bank under financial law in the UK, money held in your account is 100% secure.
How to Open a Neteller Account
Before deposits and withdrawals can be processed, users must first create their own personal Neteller account. This can be done in a matter of minutes by following these simple steps:
- Enter the Neteller website.
- Click or tap on the “Join For Free” button, located in the top right-hand corner of the page.
- Enter the relevant personal details, including your full name, email address and date of birth.
- Confirm your security question answers.
- Verify your new account via email.
- Log in to your new Neteller account for the first time.
- Add funds to your account via your preferred method.
The fees involved when using Neteller for depositing and withdrawing will depend somewhat on the betting sites selected by punters. However, the majority of leading bookmakers will cover any fees involved. There are still some potential fees to familiarize yourself with though, with the first being that any withdrawals made from your Neteller account using Visa or Mastercard may come with a charge of up to 5%. Meanwhile, withdrawals to your bank may also incur a fee, which is why many have applied for a Net+ Prepaid Mastercard, where such transactions are free.
Alternatives to Neteller
If you are not completely sold on what Neteller has to offer, there are a host of alternatives available, including e-wallets and more traditional payment methods. For punters based in India, it is the following which we recommend considering further:
Google Pay – Developed by Google, this one-tap method of payment is catered towards Android users. However, Google Pay is only available for deposits at present, while also only being available on mobile devices.
Skrill – Also operated by the PaySafe Group, Skrill is another e-wallet available to customers in India. The digital wallet platform was founded in 2001, offering payments in over 120 countries and 40 different currencies, including Indian Rupees.
Credit Card – This traditional form of payment is still the preferred option for many punters in India. Cards are distributed by many banks and financial institutes, with the amount of funds available depending on the financial situation of holders. Punters must simply add their card details to their sportsbook account, with deposits here being instant, while withdrawals can take up to 5 days in some cases.
FAQs – Neteller Betting Sites in India 2021
Is it safe to use Neteller in sports betting?Do I Have to verify anything when using Neteller?Will there be any fees added when I use Neteller?What do I do if my payment is declined?How long will it take before my deposit is received by the betting site?How long will it take before my withdrawal is received from the betting site?
Tips for Using Neteller
In order to help punters get the most out of using Neteller, the following tips have been put in place:
- Neteller/Bank – Getting the best out of Neteller generally means linking your account with your bank. This will ensure for quick and convenient payments. While payments can be made directly from Neteller, it is worthwhile having the option to transfer funds back to your bank account.
- Safety – When looking to place bets and upload funds with Neteller, be sure that the betting site begins with HTTPS, rather than simply HTTP. The S ensures for your safety.
- Fees – With fees potentially being involved with withdrawing funds using Neteller, it is often worthwhile taking home funds in bulk, rather than processing many smaller transactions.
- Bonuses -Many bookies will state in their bonus terms and conditions that deposits made via Neteller will not be eligible for rewards. Therefore, at least initially, it may be worth adding funds using an alternative method.
Bottom Line on Neteller Betting Sites
You should not have a much better understanding of Neteller and how it works on betting sites. Offering fast, secure and convenient payments, Neteller is the chosen payment method for thousands of betting customers in India. Available for both deposits and withdrawals, the reputation of Neteller speaks for itself. So, whether you are new to betting or are searching for a more efficient way of transferring funds, be sure to take a closer look at Neteller.