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Neteller is a relatively new form of online payment (since 1999) but this fact does not affect the reliable and safe reputation that this British online payment company has enjoyed. Not only does Neteller have a home office in a small island off the coast of England called the Isle of Man, they maintain remote offices throughout the world to better serve their customer's needs. Currently, they boast an office on every inhabited continent in the world.

If you have ever used the common online payment method called PayPal, Neteller will seem very familiar as it works in almost exactly the same way. Not only is submitted information only handled on the Neteller account, but the transactions are handled by the company in every way, leaving you with only Neteller with which to deal. Each transaction occurs instantly. This "real-time" transfer method makes Neteller one of the fastest forms of online payments available in online casinos.

You must have another method of payment to submit funds to your Neteller account, however. Neteller offers their customers many options including credit and debit card transfers as well as direct from bank account wire transfers. Neteller also offers their own card so that you may use your account as yet another stand alone bank account. For this reason, Neteller can be an excellent choice for people that prefer to have instant access to their money. With a little planning in preparation, you can be spending your cash withdrawals from online casinos within a single minute.

Pros

Instant Service: All transactions are handled in real time. The moment you make a transaction, it is generally available in the amount of time that it would take to send an e-mail to another recipient. If you are looking for a very fast service, consider using Neteller as your primary cash transaction company.

Security: As you submit only your Neteller account information to the company that you wish to pay, security is heightened when you deal with Neteller. In addition, any issues or disputes can be handled through Neteller, giving you the backing of a major company rather than taking on an entire website alone. This can really give an added sense of comfort when making transactions online.

Convenience: The fact that you can use your Neteller account as a second bank account makes it a very convenient and easy to manage method of online payment. Your money will generally always be available from the moment you deal with any external company and you will be able to transfer this money to multiple accounts (bank accounts, credit cards, etc.) in whatever fashion you choose.

Cons

Fees: Most transactions require a small fee for the use of Neteller. Some sports betting websites even charge fees as high as $15 for the use of this service. The reasons for these charges are unclear but the fact that convenience comes at a price is quite obvious. When you are charged a site fee, however, this typically covers any associative fees from Neteller.

Sorry North America: Canadians and United States Citizens are not allowed to use all aspects of this service. Specifically, residents of these areas are forbidden from transferring funds to a sportsbook via bank transfers and credit card payments.

Set-Up: Although future transactions can be very fast, the set-up process can sometimes take a long time to complete. In addition, some customers are turned off by the yet another step that is involved in online payments. Still, this step is usually only necessary during the first transaction as payment information can be hot-keyed and saved within your account.

Deposit Limits

Neteller typically determines their own deposit limits but these limits are almost always quite generous (sometimes being almost $40,000). However, some websites impose their own limits on Neteller transactions. Once again, these limits are usually quite generous and range from anywhere from $600-$25,000 per day. Some specific examples are:

Poker Stars - Daily Minimum $10 - Daily Maximum $600 Absolute Poker - Daily Minimum $20 - Daily Maximum $25,000 UltimateBet Poker - Daily Minimum $20 - Daily Maximum $25,000 Carbon Poker - Daily Minimum $25 - Daily Maximum $10,000 Poker - Daily Minimum $25 - Daily Maximum $10,000 Doyles Room - Daily Minimum $25 - Daily Maximum $5,000 888 Poker - Daily Minimum $30 - Daily Maximum $12,500

Necessary Verification

Information that you will need to submit to Neteller depends largely on the types of payments for which you will be using the account. This information includes your original set-up and a 1-2 day verification period to verify the submitted information. In general, be prepared with the following information:

Name
Address
Telephone Number
Birth Date
Social Security Number (Last 4 Digits)
Bank Account Information
Credit Card Number
Credit Card Expiration Date
Signature Strip Security Code

Fund Availability

Normally, the speed of each transaction can be chosen by either the sender or receiver. Depending on your chosen speed, additional fees can apply. Transaction speeds vary from instant processing to the free 3-5 business day service.