If you do not feel comfortable using your debit or credit card at an online slot casino, then you might want to consider a well-known e-wallet like Neteller. Fortunately for you, the vast majority of UK slot casinos now accept Neteller as a means to deposit and withdraw.
As we will explain in our comprehensive article, Neteller has its pros and cons when using it at an online casino. On the one hand, deposits and withdraws are super fast, and by not needing to enter your debit/credit card details directly into the casino’s website, you are accustomed to an extra layer of security. However, some UK slot casinos do not allow you to claim a welcome bonus if you decide to deposit with Neteller, so this also needs to be considered.
Nevertheless, if you are still sitting on the Neteller fence, be sure to read our article. We will cover everything that you need to know, such as how Neteller works, whether you need to pay any fees, how the deposit and withdrawal process operates, and whether you will be able to claim a bonus.
Let us start by exploring what Neteller actually is, and how the platform works.
What is Neteller?
Launched in 1999, Neteller is an online money transfer service that makes it super simple to send and receive funds, as well as purchase goods and services online. Although the company was originally based in Canada, it moved its headquarters to the Isle of Man in 2004.
At one point in time, Neteller dominated the online gambling industry, with the vast majority of its revenues deriving from remote casino transactions. However, when the platform moved out of the U.S. market, its revenues subsequently followed suit. Nevertheless, Neteller operates in a very similar manner to other leading e-wallet providers such as PayPal and Skrill.
You need to register an account with Neteller, confirm your identity, link a real-world payment method (such as a bank account or debit/credit card), and then deposit funds. Once you are all set-up, you can easily use Neteller to buy things online at hundreds of thousands of merchants. The platform makes it money by charging transaction fees. This usually comes in the form of deposits and withdrawals, although in some cases, you might be charged when buying things online.
Neteller is authorised and regulated by the UK’s Financial Conduct Authority (FCA) as a money transmitter businesses, meaning that your funds are safe and secure.
So now that you know who Neteller is, in the next part of our article we are going to explore how the platform actually works.
How does Neteller work?
If you have ever used an e-wallet before, then it is likely you will be familiar with the Neteller process. Much like in the case of PayPal, Neteller allows you to buy goods online without exposing your debit or credit card details to the merchant. This makes it perfect when depositing funds with an online slot casino, as you do not need to worry about the risk of having your card details getting into the wrong hands.
You can only use Neteller at an online merchant if the platform specifically accepts it. In the vast majority of cases, UK slot casinos will support Neteller, which is great. In order to fund your account, you can use either a debit or credit card, or transfer the money from your UK bank account. The platform also accepts other payment methods, such as Paysafecard and Cryptocurrencies. However, the fees will start to add up if you opt for these options, so it is best you stick with a debit/credit card or bank account.
If you attempt to make a deposit at an online slot casino but your Neteller account is not funded, this is not a problem. This is because you can make an instant deposit at the point of sale, as long as you have already linked your debit/credit card. As we will explain in more detail further down, Neteller also allows you to withdraw funds to a UK bank account, which again, makes it ideal for playing slots online.
Using Neteller at a UK slot casino
If you want to use Neteller to play slots online, your first port of call will be to ensure the platform actually accepts it. This is an easy process, as all you need to do is check the platform’s supported payment method list, and lookout for Neteller.
Once you have found a suitable Netller-support slot casino, you then need to open an account. This process is exactly the same as using any other payment method, such as a debit or credit card. As such, you will need to supply the slot casino with a range of personal information.
At a minimum this will include your:
Date of birth
Once you’ve completed the account set-up process, you will then need to deposit some funds. Head over to the deposit page, and then scroll through the list of support payment methods until you see Neteller. As soon as you enter the amount you want to deposit and click on the confirm button, you will then see a pop-up box appears.
You will then be instructed to enter your Neteller login details. Once logged in, you can then choose to deposit funds using your Neteller balance (if you have enough to cover the deposit), or alternatively, make an instant deposit using a debit/credit card that you previously verified.
As soon as your payment is processed, the funds should appear in your UK slot casino account, and thus, you are ready to play.
Verifying your Neteller account
When it comes to verification, you need to make some considerations on two fronts. First, when you first go through the registration process with Neteller, you will need to verify your identity. If you choose not to, you will be restricted to really small limits.
In order to verify your Neteller account, you need to provide the platform with one of a government issued ID. In the UK this will need to either be your passport or driver’s license (provisional licenses are not accepted.) If you do not have access to a scanner, you can take a photo from your mobile phone and then upload it straight the Neteller app.
It is also likely that you will need to verify your address. Neteller will require you to upload a utility bill or bank statement that is no older than 90 days.
Finally, you will also need to verify your bank account. Although this is optional, you will need to do it if you are planning to withdraw your slot casino winnings back to your UK bank. Neteller will deposit a small amount into your bank account (between £0.01 and £0.99), which usually takes 3-5 days to show up. Once it does, you need to enter the specific amount that was deposited via your Neteller account. As soon as you do, your bank account will be verified and you are good to make withdrawals to it.
Verifying your UK slot casino account
One of the most frustrating things about using Neteller at an online casino is that you still need to go through the verification with the operator. The reason for this is that casinos need to comply with anti-money laundering (AML) laws, which dictates that they must identify each and every player that uses their platform.
If you have used a slot casino before in the UK, then you should already know the drill. You will be required to upload a copy of your passport or driver’s license, and the copy needs to be super clear. You will also need to provide the casino with a proof of address.
The good news is that if you’ve already verified your Neteller account, you should already have the documents to-hand. In fact, you should forward these straight onto the slot casino’s verification team as soon as you open the account. That way, as soon as you are ready to withdraw your winnings, you will not experience any delays.
Does Neteller charge me fees when I gamble at an online casino?
If you are planning to use Neteller for online slot endeavours, then you also need to consider whether you are likely to pay fees. First and foremost, you will need to pay a fee when you first fund your Neteller. Account.
Regardless of what payment method you use to fund your Neteller account, you will pay a fixed fee of 2.5%. As such, if you were deposit £100, Neteller would charge you £2.50. Instead of adding this on to the deposit amount, it is simply deducted. Sticking with the same example, a £100 deposit would leave you with a balance of £97.50.
Note: If you fund your Neteller account with a credit card, you will still be charged 2.5%. However, your credit card issuer is likely to consider this as a ‘cash advance’. This means you might end up paying additional fees, which is usually in the region of 3%.
When it comes to depositing funds with Neteller with the online slot casino, this should be free. Neteller will not charge you anything to use your balance online, so the question is whether or not the operator will charge you. However, in the vast majority of cases, Neteller is treated in the same light as a debit card deposit, meaning that you will not be charged.
Withdrawing your winnings via Neteller
When you decide you want to cash out your gambling winnings, you will need to withdraw at least the original deposit amount(s) back to your Neteller account. For example, if you deposited £100 into the slot casino, and you wanted to withdraw £150, you would need to withdraw at least £100 back to Neteller. This is to ensure that the casino complies with UK AML regulations. Using the same example, the additional £50 could be withdrawn to an alternative payment method, such as a bank transfer or check.
Once you withdraw the funds back to your Neteller account, you will have the option of transferring them to your UK bank account. Be warned, this carries a fee which some would argue is excessive. Neteller charges $10 (about £8) to withdraw back to your UK bank account. This makes it viable if you only want to gamble smaller amount, as your winnings will be eaten away by the withdrawal fee.
However, there is another option that you might want to consider. As noted above, although you need to withdraw at least the amount you deposited back to Neteller, you can withdraw the balance to a UK bank account. If you do this via the UK slot casino, then you will not need to pay any fees. The only caveat to this is that the process takes longer. We have covered withdrawal times in more detail in the section below.
How long do Neteller withdrawals take at a UK slot casino?
Although the withdrawal fees charged by Neteller are a bit expensive, the platform allows you to receive your winnings in ultra-quick fashion. As you might well know, debit and credit card withdrawals via an online slot casino are super slow. In fact, not only do you need to wait up to 48 hours just for the casino to authorise the withdrawal request, but you then need to wait 3-5 days for your bank to credit the funds. As a result, it can take close to a week to receive your money.
However, Neteller withdrawals are significantly faster. When you initially make the withdrawal request, the slot casino will usually process this within a few hours. There is less regulatory red-tape to contend with when dealing with e-wallets, so this allows the casino to give your withdrawal priority.
Things only get better when withdrawing via Neteller, because as soon as the slot casino does authorise your request, the funds are usually sent to your Neteller account instantly. As this stage of withdrawal process, you have already saved yourself a few days in processing times.
When the funds do arrive back into your Neteller account, you can then request to have them sent straight to your linked UK bank account. The amount of time it takes for the funds to arrive in your bank account can vary quite considerably. Unlike PayPal, Neteller does not subscribe to the Faster Payments network, and thus the withdrawal is not instant. In fact, it can take anywhere between 1 and 5 days.
While this is still somewhat slow, it is far better to have the funds in your Neteller account as opposed to storing them in the online casino.
Do I still get to claim a welcome bonus when using Neteller
While there is a significant number of benefits to using Neteller when depositing funds at an online slot casino, one of the main draw-backs is that some platforms do not allow you to claim a welcome bonus. Back in the day, Neteller deposits were eligible for bonuses and promotions across the online slot spectrum.
However, a group of unsavoury characters began using the payment method to abuse bonuses. They beat the system by creating multiple unverified Neteller accounts, and then using these accounts to register with UK slot casinos. This allowed them to then claim an unlimited number of welcome bonuses. Once the online casino industry found about the scam, they quickly restricted bonus eligibility for those using Neteller.
While the vast majority of online casinos followed suit, some UK operators do allow you use Neteller and still claim a welcome package. In reality, this should not be an issue anyway, insofar that you will still need to verify your identity with the online casino before you can withdraw your bonus winnings.
Nevertheless, if claiming bonuses is your main priority, then you might need to consider an alternative payment method. If the platform accepts PayPal, then you should qualify for its welcome offer. If not, then you might need to revert back to using a debit or credit card.
UK slot casinos that accept Neteller: The verdict?
In conclusion, Neteller is great if you place security at the top of your list. As soon as you have linked your payment details and verified your account, you will not need to manually enter your card details into the slot casino’s website. Moreover, Neteller is great if you want to get your winnings out of the slot casino in the quickest time possible.
On the other hand, Neteller also comes with its draw-backs. Notably, this centres on a withdrawal fee that costs in the region of £8 per withdrawal, and a withdrawal time-frame that can take up to 5 days.