Neteller is a worldwide e-money transfer service and online payment processor. It can be used to transfer money to and from a variety of different merchants, including a wide array of legal and regulated online poker sites in the US.
The company was founded in 1999 in Canada but moved to the Isle of Man in the United Kingdom in 2004.
Neteller is regulated by the UK’s Financial Conduct Authority (FCA), which offers users a certain degree of protection. For instance, FCA e-money regulations require Neteller keep all customer funds in separate trust accounts from its operating cash. Plus, the company must maintain a balance in the trust accounts that is enough to repay all customers at once.
Neteller is owned and operated by British global payments company Paysafe Group.
Neteller in New Jersey
In November 2013, legal and regulated online gambling launched in New Jersey. However, several major financial institutions in the US still refused to process online gambling payments, causing major issues for most players trying to make a deposit on one of the new online casino or poker sites with a debit or credit card.
In fact, it is estimated at launch, and for almost a year after, almost one-third of the online gambling transactions in New Jersey made with a credit card were being declined.
The New Jersey online gambling sites soon turned to online payment processors to help alleviate the issue. Then, in November 2014, when the California-based Pala Band of Mission Indians and its Pala Interactive launched the Pala Casino website under the Borgata Hotel Casino & Spa internet gambling license, it brought Neteller with it.
Pala became the first online gambling site in the US to allow its players to deposit using Neteller, but others soon followed.
In fact, in 2018, a majority of the online casino sites operating in the state accept Neteller deposits.
The list of NJ online casino sites that accept Neteller includes:
- Golden Nugget
- 888 Casino
- Borgata Casino
- Pala Casino
- DraftKings Casino
Plus, all of New Jersey’s online poker sites accept Neteller. That list includes:
Banking with Neteller
Making a deposit on an online poker or casino site with Neteller requires that you first become a Neteller member. That means signing up for a Neteller account.
Some personal information, like your address, phone number, and email address are required. However, sign up is fast, easy and free.
The next step is to fund the account. Neteller allows members to fund an account using a credit or debit card. Just select that option in the Money section of your account and look for your card’s logo. If you can’t find it, that probably means Neteller currently doesn’t accept that type of card.
Enter the information required and the amount of the deposit. Tell Neteller it is for gambling and confirm the transaction.
Users can also store up to five different credit or debit cards in the account for later use. The funds deposited should be available in your Neteller account immediately.
Neteller accounts can also be funded with:
- International Bank Transfer
- Other payment processors like Skrill
Once you have successfully funded your Neteller account, getting the money on an online poker or casino site is relatively easy. Just choose that deposit method in the site’s cashier section, follow any prompts and input all the necessary account information.
After you’ve made a deposit using Neteller, you should also be able to withdraw funds using the online payment processor.
Is Neteller safe and secure?
Neteller is one of the most trusted online payment systems in the world. It employs various anti-fraud tools and security features to keep your money safe. Plus, as a UK Financial Conduct Authority authorized company, Neteller keeps all account balances in accounts that are segregated from operational funds.
While Neteller employs a variety of security measures it also recommends users take precautions to protect their account information and use common sense. This means never sharing account information or passwords.
This also includes making sure your web browser has all the latest security patches and updates. Users are also encouraged to regularly check their transaction history, report any misuse immediately, change passwords and contact Neteller Customer Support.
Users should also make sure their computer has antivirus software and firewalls. Neteller also recommends its users do not sign in from a public computer.
Neteller also offers Two Step Authentication. This is an added security measure that requires users to enter a code from a smartphone at sing in, along with an email and password.
Are online casino and poker sites that accept Neteller safe?
Government oversight ensures that they are. In fact, legal and regulated online poker and casino sites in the US are the safest, most secure poker sites you can find.
In New Jersey, oversight is provided by the State Attorney General’s Office’s Division of Gaming Enforcement. Whereas, in Nevada, it’s the Nevada Gaming Commission and the Nevada Gaming Control Board.
These government bodies have regulations guaranteeing the safety of all player funds. They also test the games and software for fairness.
Neteller and online gambling
The company has been processing online gambling payments almost since it launched. In fact, it is estimated that 95 percent of its revenue was derived from online gambling before January 2007, when the US Department of Justice decided to go after online payment processors that facilitate the transfer of funds between US gamblers and offshore online gaming sites it considered illegal, forcing Neteller out of the US.
On Jan. 15, 2007, the DOJ arrested Neteller’s founders, former CEO Stephen Lawrence and former President John Lefebvre on charges of conspiring to transfer funds with the intent to promote illegal gambling. Both are Canadian citizens.
Three days later, Neteller responded by announcing its US-based users are no longer able to transfer funds to or from online gambling sites.
Six months later, Lawrence and Lefebvre both pleaded guilty to the conspiracy charge, admitting to handling billions of dollars in illegal gambling proceeds and agreeing to cooperate with the government. The pair were forced to forfeit approximately $100 million and served 45 days in Federal Prison.
In the meantime, Neteller walked away from what was approximately two-thirds of its business. In fact, Neteller fee revenues dropped from a high of $239 million in 2006 to approximately $61 million in 2010. The company also stopped processing online gambling payments in a number of countries where online gambling is considered illegal.
Of course, Neteller never really left the online gambling business altogether, processing payments for online gambling sites and gamblers in jurisdictions where the activity is legal and regulated.
Neteller online poker and casino FAQ
Are there fees for using Neteller?
Yes. Neteller offer a wide variety of options for funding your account with varying fees, including a Visa credit or debit card. The fees range anywhere from 1 percent to 6 percent depending on the funding method.
Can you use Neteller without an account?
No. The use of Neteller requires that you become a member. That means signing up for an account. However, it’s a fast, easy and free process.
Can you use another person’s Neteller account?
No. Neteller takes security seriously and asks users to never share account information.
Why can’t I see Neteller as a cash out method?
You must first use Neteller to deposit funds on an online casino or poker site before it will be available as a withdrawal method.
How do I make a cash out from Neteller?
Neteller offers several withdrawal options users can employ to withdraw funds from a Neteller account. These include:
- Neteller money transfer, allowing users to transfer funds to another Neteller user using just an email address.
- Transfer to a merchant, allowing users to transfer funds to a merchant site as an instant withdrawal option.
- Transfer to a Skrill wallet, an instant withdrawal option allowing users to transfer funds from a Neteller account to a Skrill account.
- Net+ Prepaid Mastercard, allowing users to make instant payments and conduct ATM withdrawals.
- International bank withdrawal – allowing users to transfer funds from a Neteller account directly to a bank account in most countries.
Why should I use Neteller?
Neteller is one of the most trusted online payment systems in the world. A good reason to use the payment processor is that Neteller offers an added layer of security for your money. Neteller follows UK government regulations forcing it to keep operating funds and user funds segregated.
There are still several US financial institutions blocking credit card transactions for online gambling sites. Neteller offers Visa card holders a way around this. Neteller has fees associated with funding your account. However, it is still an effective and efficient method of deposit available on almost all legal and regulated online casino and poker sites in the US.