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NetellerNeteller

Neteller is an online money transfer service used to transfer money online and send and receive payments for online purchases.  This Neteller review will focus on its usability as it relates to making deposits and withdrawals for the purpose of playing online poker for real money.

Neteller Fees

The following information is for U.S. Customers operating with the US Dollar:

  • For transactions involving currency conversion, Neteller charges 2.95% in addition to the average daily interbank market rate.  Where possible players should keep their Neteller account currency in the same currency as thier poker balances to avoid exchange rate fees. Some poker sites, such as PokerStars, allow currency conversion in their clients at market rates with no fees.
  • As long as at least one transaction is made over any 6-month period, there are no annual or monthly fees.  An administrative fee of $2.99 per month will be charged after 6 consecutive calendar months of inactivity until account balance reaches $0, a transaction is made, or the account is closed.
  • Transactions are nearly always instant from Neteller's end.  The only exceptions are certain withdrawal methods, shown in the table below.  

Uploading/Depositing

Uploading

Instant Bank ACH

3.50%

Visa

2.50%

MasterCard

2.50%

 

Withrawals

Method

Processing Time

Minimum

Fee

Net+ Prepaid Card

Instant

None

$3.95 for ATMs, Free for POS

Bank Transfer/Member Wire

3-10 Business Days

$25

$12.75

Check

2-21 Business Days

$30

$10

Note that bank transfers are only available to users in selected European countries.

Cashouts from poker sites to Neteller typically take 3-5 business days.  Shown below are some user comments regarding cashouts with Neteller:

Usually less than 72 hours if you use Skrill (Moneybookers), Neteller or bankwire

Posted by 'Tendencies' on the 2+2 ForumsView post 

OK update I withdrew on the 18th 5pm just got it Sept 22nd 11am. Keep in mind was over the weekend.

Posted by 'Mateo94' on the 2+2 ForumsView post 

Countries Excluded from Neteller

Major excluded countries include:

  • Afghanistan
  • China
  • Cuba
  • Guam
  • Libya
  • Pakistan
  • Puerto Rico

Customers from serviced countries traveling to these countries will still have access to their accounts.

Major banned countries include:

  • Iran
  • Iraq
  • Liberia
  • North Korea
  • Syria

Accounts are not accessible in these countries regardless of whether a customer lives in a serviced country, though Net+ cards are still useable.  

People living in the following countries are allowed to hold accounts but may not make gambling related transactions:  

  • Canada
  • Hong Kong
  • Israel
  • Macao
  • Turkey

Security-Is Neteller Safe?

The use of eWallets such as Neteller is popular among online poker players as they don't require you to share your actual bank account information with poker sites, and don't create a "paper trail" of gambling transactions.   This affords grinders an extra level of security and privacy, especially beneficial in countries where the legality and taxation of online poker is a gray area.  Neteller will never pass on personal or financial information to merchants when making a purchase.  

128-bit Encryption at Neteller

Neteller uses a combination of 128-bit encryption technology, ID-verification and real time transaction monitoring to protect users from fraud. 

How To Use Neteller

To get started with Neteller, visit their website to create an account.