Neteller is one of the most respected brands in the online payment industry, having been around for more than 15 years. established with the goal of making online payments as simple and as secure as possible, Neteller gives users unparalleled freedom with regard to using their money to make purchases or payments anytime and anywhere they want, whether online or offline.
Top South African Neteller Casinos
Neteller is an online payment system that began offerings its services in 1999. It is under the ownership of Optimal Payments PLC., which was originally based in Canada. After relocating its headquarters from Canada to the Isle of Man in the UK in 2004, Neteller has since been under the jurisdiction of the United Kingdom Financial Services Authority (FSA).
Neteller is not technically a bank, although it is subject to the same rules and regulations that banks are subject to under the FSA. It is therefore able to provide an equivalent level of safety and security. In fact, Neteller is required to keep customer’s funds in individual trust accounts at all times, ensuring its ability to pay out balances to all its client’s at the same time if the need arises.
The Neteller system is an accepted payment method in several countries around the world. In the early 2000s, the company handled as much as 80% of all player transactions in the online gaming market. Among the advantages of using Neteller are:
- Topnotch data encryption.
- Completely anonymous transactions with only the account ID shared with the merchant.
- No credit means no risk of debt.
- Deposits and withdrawals supported by a wide range of online casinos.
Using Neteller in South Africa
Online gamblers from South Africa have a wide range of options with regard to where and how they can use Neteller with online casinos. Signing up for a Neteller account is a simple and straightforward process, requiring only the following:
- A valid email address
- A funding source, typically a supported bank or credit card
- Basic personal information
Among the information that will be collected from you when you sign up for a Neteller account are your:
- Date of birth
- Desired account currency
During the registration process, you will also be asked to decide on a password and provide answers to a few security questions. This information is kept strictly confidential and is never divulged to any online casinos or online merchant sites.
If your registration is successful, you will be provided a Neteller account ID number and a security ID for the account. You can then use your Neteller account to make deposits and withdrawals at online casinos that support Neteller.
Keep in mind that there is an additional verification process required in order for you to be able to withdraw funds from your Neteller account into your bank account. The process is fairly simple however, and requires only that you provide Neteller with the image of one of your valid photo IDs.
How to Fund Your Neteller Account
Because of its well-established reputation in the payment systems industry, Neteller is able to offer a wide range of payment and withdrawal services, as well as several options for funding Neteller accounts. These include:
- Internationally-recognized credit cards such as MasterCard and Visa
- Accepted online payment services and e-wallets
- Bank transfers
Funding your Neteller account via debit or credit card is generally the simplest option, followed by e-wallets or other payment systems. These funding methods are typically free of charge. Keep in mind that when using bank transfers to fund your Neteller account, your bank may charge a transaction fee.
How to Deposit Using Neteller
These are the steps to making a deposit into an online casino account via Neteller:
- Go to the casino’s “payments/deposits” section.
- Select “e-wallets” from the payments options.
- Select the “Neteller” option from the following sub-menu.
- Input your account ID and security ID in the pop-up window.
- Fill in the amount you wish to deposit and specify the currency.
That’s all the process entails, and in most cases, the funds will be ready to use in the casino instantly. Most casinos will not charge anything for making a deposit.
How to Withdraw Using Neteller
These are the steps to making a withdrawal from an online casino account via Neteller:
- Browse to the withdrawal page of the casino.
- Select “Neteller” as the withdrawal option.
- Specify the amount you wish to withdraw.
Most casinos will only allow you to withdraw funds in the same currency as the funds you deposited. In addition, you may not be allowed to withdraw your winnings and bonuses if you haven’t made a single deposit into your account yet.
Withdrawing funds from your Neteller account can be done via the following:
- Bank drafts
- Bank transfers
Neteller Costs and Timing
Using Neteller does not entail any administrative fees as long as you maintain a regular balance and continue to use your account. Users are sent an email if their account remains unused for 13 months. If the account remains unused by the following month, the user will be charged an administrative fee.
Transactions performed via Neteller are free. However, transactions involving currency conversion will entail a charge equivalent to 3.99% of the amount’s average daily interbank market rate. For members of Neteller’s VIP Club, the fee is only 1% of the transaction amount’s market rate.
When depositing funds into an online casino account via Neteller, the funds will appear in your account immediately. The withdrawal process itself is usually instant as well, although it may take anywhere from two days to a week to appear in your account depending on your bank. Some banks and casinos may also charge a withdrawal fee.