Last checked and updated: March 31, 2015
Unless you are from the US, Canada or Turkey, using Neteller as an online payment processor is still the most popular, best and easiest way to manage your online poker bankroll. That is true for all forms of online gambling funds transactions, not just poker.
neteller operates as an online or electronic wallet, known as an ewallet. As such it is not a bank. Though it is licenced and regulated by various financial authorities. As an ‘online wallet’ or ewallet, this service holds your money online for you to use when and where you want. Like every other similiar service you will need to fund your Neteller account, and then use this service to deposit your online funds to your chosen online poker room, or other online gambling site.
Setting up a Neteller account is relatively easy. There are a number of security measures that have to be gone through, but that is a good thing, as security and peace of mind is very important when dealing with your money online. It can take a couple of days to get through the verification and setup procedure, where you will be required to verify that you are who you say you are, and verify that the banking details that you supplied are correct.
Once you set up your free Neteller account you will need to connect your bank account to it. You can then use a variety of methods to fund your Neteller account; visa card, mastercard, bank transfer, etc. The most common way is to use your bank account. Once your Neteller account is funded and your bank account is connected, you will be able to instantly fund your poker account.
The real benefits to using a service such as Neteller, is that once you are setup you can move your money relatively easily both to and from your gambling accounts. The procedure is like this; you fund you ewallet initially, then you transfer some or all of those funds to your favorite poker site. Yyou play a little, or a lot, and lets say you win a nice bit. Then you can transfer all those funds, your initial deposit, and your winnings, back to your Neteller account. Now they are ready for you to use by transferring them to that same poker site, a different gambling site, or back to your bank account to spend in the real world.
Just about every single poker room offers Neteller as a deposit method. they were one of the first online payment providers to grow and be accepted by online sites, and now they are a worldwide business operating in 183 different countries.
You can fund your Neteller account with with Visa, MasterCard, online check (EFT), InstaCash, Bank Wire and internet banking transfer.
Users of this service are also entitled to get a MasterCard branded debit card attached to the funds in their account, so that you can even avoid the final step in the process of withdrawing your funds, by using your card to directly access your online money through any ATM or spend it in the store just like a normal bank debit card.
You can also use that card – it’s called a Net+ card – online, and even use it to deposit directly to another poker site.
The setup process is a bit involved, but once you have completed that, you should find this service to be one of the fastest, most reliable and easiest to use service for funding you poker accounts.
There are usually no fees for transferring to online sites, but withdrawals, either to your bank account or by way of your Net+ card at an ATM machine, will incur charges. That is not something that is either unusual or possible to avoid though, and the fees are not horrendous by any means. They compare well to other similiar deposit methids, and are much lower than using yoru traditional credit card.
When you are setting up your account initially, you may be tempted to create it in dollars as this is the most widely used currency in online gambling. Be aware that if you do this, and your national currency is not dollars, then you will be charged a foreign exchange commission on every transaction that is in a currency that is not your account currency. Spend a little bit of time working out what currency you will be most likely to do the majority of your funds transactions in, and choose that one to reduce the fees you will have to pay.