Neteller is one of the most popular payment options for Indian players. The main reason is that all reputable online betting, casino and poker sites catering to Indian players accept Neteller. It is one of the earliest e-wallets in the business, is highly reputed and has moderate fees.
But check out our reviews of the other payment options and select the one that works best for you.
Neteller.com is the leading e-wallet in the online gambling industry. It operates in more than 200 countries, including India, and processes billions of dollars each year. The brand is operated by Optimal Payments Limited and was started in 1999. It operates under the oversight of the Financial Conduct Authority of the United Kingdom, which is one of the strictest regulatory authorities.
Neteller allows convenient funding options such as credit cards and bank transfers. The balance in the Neteller account can be withdrawn by players. Neteller offers promotional events that offer freebies to its users and also payment products other than the e-wallet.
Neteller in particular, and e-wallets in general, are the best banking option for Indians looking to play at online casinos and poker sites or place bets with bookmakers.
The biggest advantage is that Neteller supports INR so Indians are not forced to exchange their currency while carrying out the financial transactions. Currency exchange is inconvenient and adds to the cost of wagering. Neteller has the highest success rate in India as compared to any payment option available. There have been no reports of failed deposits or delays in transfers.
HOW IT WORKS
Neteller is an e-wallet, which is like an online current account. Players can deposit money in their e-wallet account using various methods, such as local bank transfers, credit cards, debit cards and international transfers. The money is held on your behalf in your current account. You can use these funds to make deposits at online betting sites and other payments and transfers.
You can also withdraw funds into their bank account by requesting a cheque, bank draft, bank transfer or wire transfer.
FEES: DEPOSIT, TRANSFER, AND WITHDRAW
FEES TO FUND NETELLER ACCOUNT:
0 – 5%.
In order to use your Neteller account, you will first have to transfer funds into it. Depending on the method used there could be a fee charged by Neteller that ranges from 0 to 5% of the deposit amount for the options available in India. For Indian players the best options are Bank Transfers, Visa and MasterCard credit cards and Maestro debit cards. You should use Bank Transfers if possible because it is free.
FEES FOR POPULAR FUNDING OPTIONS:
Bank Transfer: FREE
LIMITS FOR POPULAR FUNDING OPTIONS:
It is advisable to get your credit card or debit card registered at Neteller. By doing so, your maximum deposit limit will increase from INR 7,500 to INR 22,500. VIP users can avail of higher limits. The transfers are instantaneous.
Bank transfers take 2 to 3 days. As in credit cards, it is advisable to get bank accounts verified. The minimum limit per transfer is INR 1,350 and the maximum limit in 30 days is INR 18,000,000.
TRANSFER TO/FROM BETTING SITES:
The best betting sites, which are recommended by us, do not charge their players fees for either depositing using Neteller or for withdrawing funds to a Neteller account. This means that you can withdraw your winnings from site A into your Neteller account and transfer it to site B without any cost.
TRANSFERS TO OTHER NETELLER ACCOUNTS:
FREE. There are no charges for transferring to other Neteller accounts.
WITHDRAWING FROM NETELLER:
You must withdraw funds from Neteller only when you are sure that you will not have to make any deposits in the near future, because this is the most costly part of the operations.
FEES FOR POPULAR WITHDRAWAL OPTIONS
Bank Drafts 7.5 EUR to 25 EUR
Bank Transfer 7.5 EUR
Cheque 7.5 EUR
Member Wire 10.5 EUR
WHY USE NETELLER?
We recommend the use of Neteller firstly because it offers all the advantages of an e-wallet and then because it is one of the best e-wallets.
The best betting sites will transfer your winnings to your e-wallet account from which you have made the deposit. This way, your withdrawals from online betting sites are free of cost and instant. E-wallets add additional security to your online transactions.
Your credit card or bank account details are only on the servers of the e-wallets and not at each and every online gambling site that you play at. E-wallets also keep your gambling transactions private. In the case of deposits at gambling sites using credit cards or bank accounts the statements will reveal that you have made deposits at the gambling sites.
However if you use e-wallet the statements will show that payment has been made to Neteller. E-wallets also allow easy transfer of funds from one betting site to another.
Neteller is one of the best e-wallets for the following reasons.
“¢ It is one of the oldest and most reputed e-wallets
“¢ It is regulated by the Financial Conduct Authority of the United Kingdom
“¢ It operates globally
“¢ It ensures secure financial transactions through latest encryption protocols
“¢ Online transactions take place without delay
“¢ It offers attractive promotions to its users
“¢ It has a 100% success rate once money is transferred to the e-wallet.
“¢ It offers excellent customer support that includes a searchable FAQ section
HOW TO SET UP NETELLER ACCOUNT
Signing up with Neteller is simple. You have to visit the web site www.neteller.com and click on the Personal tab at the top. Then click ‘Join for free’. This will bring you to the page from where you sign up.
Security Information. You will be required to provide information confirming your identity, country and currency as well as security information to protect your account. You are to provide security questions to help verify your account in case you lose your log-in details. After filling out the details, we recommend you take a screen shot of the registration page by pressing CTRL + Print Screen (on PC) or cmd âŒ˜ + Shift + 3 (on Mac) and print this for your records.
After you complete this process you will be e-mailed your account ID and security ID. These are very important and should be retained by you in an easily accessible manner. To make a final confirmation of the account you have to call Neteller from the phone number you used to register the account.
Though funding your Neteller account through bank transfers is generally a good idea, Neteller has stopped verifying bank accounts from India. This reduces the effectiveness of this option, especially if you plan to be a regular player. The best option for Indians is credit cards. To make the best use of your credit card you need to register it following the procedure given below.
REGISTERING YOUR CREDIT CARD
You select the desired credit card from the Money-In section of your account. Enter the given information and click “Continue” to make a deposit. Your deposit will be processed normally. Your credit card will also be charged an additional one-time 3.00 USD (or equivalent).
This is not a fee, but an additional deposit, which will show up on your credit card statement along with a 4-digit registration code. You have to enter this code in the appropriate field in your Neteller account. You click on Settings within your account and follow the instructions. Once you correctly enter the registration code you will be allowed full limits.
TIPS ON USING NETELLER:
* We strongly recommend registering your credit or debit card with Neteller. It will give you added security and higher limits for deposits.
* When using any type of financial online service, make sure the url begins with HTTPS instead of just HTTP. The S stands for SECURE. This helps to guard your personal info.
* Neteller has posted a host of security tips on its web site at http://www.neteller.com/security/#a-safe. Go through it and follow the advice.
* The largest Neteller fees are for withdrawing funds from your account. So make withdrawals only when you are sure that you will not need that part of your bankroll again for future games.
* Neteller is accepted at multiple sites and transfer from one site to another is free. Keep rotating your money to get the best deals. Withdraw your money from one site to your Neteller account and deposit it onto the site giving better bonuses or odds.
*Keep a lookout for Neteller promotions. You never know when they will run one that suits you.
*There are other options beside Neteller, just in case you need more than one e-wallet to increase your withdrawal or deposit limit or because you find yourself unable to use Neteller. Skrill is the second best choice, which is a long time UK based e-wallet that accepts customers from India, but with the disadvantage of not taking INR directly. Those will be converted to either dollars or Euros.
Entropay would be our last suggestion for Indian players, again it does not accept INR directly but has a clean relationship with Indian customers.