The NETELLER electronic wallet was launched in 1999 by Neteller Plc. The objective was to give the growing online casino industry an alternative payment option to credit cards. The original organisation has undergone many changes and today the company that operates the NETELLER brand is Paysafe (formerly Optimal Payments Limited). This company is listed on the London Stock Exchange and is regulated by the Financial Conduct Authority of the United Kingdom. These ensure that it operates under strict oversight, which is a comfort for online casino players. Neteller operates in over 200 countries including in Australia. Australian players can carry out transactions in their own currency through NETELLER.
NETELLER Banking Option for Australian Casinos Online
How to use NETELLER casino banking option
You need to have a NETELLER account to start with. You can open one from the NETELLER web site or even from most online casino web sites when making your first deposit. You then have to fund your NETELLER account. There are several options available, but the most common ones are credit cards and bank transfers. Now you are ready to deposit.
You access the cashier of your Australian online casino and select the Deposit option. There you click on the NETELLER icon. You will have to enter the amount you wish to deposit and your NETELLER account ID and NETELLER security ID. These would have been given to you when opening your NETELLER account. Click Deposit to complete the transaction.
If you have made the deposit using the NETELLER payment option, only then you can use it to withdraw your winnings from the online casino. You access the cashier and choose the Withdrawal option. Enter the withdrawal amount, select the NETELLER icon and fill in the details required. Your withdrawal request will be registered with the online casino for processing. The processing will take place after the online casino pending period is over and then the funds will be remitted electronically to your NETELLER account.
Pros of using NETELLER casino banking option
- NETELLER can be used for both deposits and withdrawals, so you will never receive your funds by check. Transfers from NETELLER to online casinos and the other way around are free.
- Deposits are instant so you can start playing immediately. Once the online casino processing is complete, transfer to your NETELLER account is also instant.
- You have to load your NETELLER account only. Then you can make deposits at any number of online casinos without your credit card or bank account details being on any online casino server.
- NETELLER offers regular promotions on its own and in conjunction with online casinos. It also awards rewards points for moving funds to or from your NETELLER account that can be redeemed for gifts and cash.
- All our recommended online casinos support the NETELLER option. So this single payment method will suffice for all your online gambling needs.
- The integrity and security at NETELLER is beyond question.
Cons of using NETELLER casino banking option
- Your NETELLER account has to be funded before you can use it for depositing at online casinos. Most Australians find it convenient to use credit cards for this. But this is a costly option. NETELLER charges a fee of 1.9% upwards on the amount loaded through credit and debit cards.
- Once loaded, transfer of funds to and from NETELLER to online accounts does not cost anything. But if you have surplus funds in your NETELLER account and you want to withdraw it to your credit card or bank account there will be a fee to be paid.
- If your NETELLER account lies idle for the specified period of time then a penalty will be deducted from your balance.
- If you are wagering at Australian dollars online casinos it is fine. But if your online casino remits funds in another currency then NETELLER will charge a fee to convert it to Australian dollars, and this can be significant.
Tips about using NETELLER casino banking option
You have to treat your NETELLER account as you would your bank account. It is in fact an online account where your funds are stored. Keep your NETELLER log in parameters in a secure place and do not use public computers to log in to your NETTELER account. It could compromise the security.
It is a waste of money to load your NETELLER account using credit or debit cards. Note that there is a fee for loading through POLi as well. If you have online or telephone banking facility then transferring funds from your bank can be done from the NETELLER web site itself. Even if you have to visit your bank to complete the transfer it is worth the trouble.
Since you have to pay for withdrawing funds from your NETELLER account do it only when you absolutely have to. Say for example you hit a huge payout at your online casino. Withdrawing and then depositing again after a week is meaningless. Keep in mind that you can use NETELLER for other online purchases as well.
Do not let your NETELLER account lie idle for more than the allowed period and pay a penalty. Send money to a relative and take it back in order to show transactions in the account.
Keep track of the NETELLER web site. They have excellent information on how to use NETTELER securely. Maximise your benefits by participating in promotions and redeeming your reward points in time.