If you’ve used an online bingo site recently may have noticed that many of them accept Neteller. But what is Neteller, and how does it compare to other payment methods such as PayPal?
What is Neteller?
Neteller is a type of online e-wallet which can be used to transfer money between customers and companies. It is often used for transactions which take place between customers and social networks and gambling sites, with the aim of adding an extra security measure on top of the more commonly used bank transfer. Users create an account on the NETELLER website, into which they can transfer money from their bank account or credit and debit card. Other payment methods include Ukash, POLi, Giropay or even just straightforward internet banking. Once you have transferred money into your account, you can then use the service to pay for services online. This is useful because it means that it’s harder for hackers to break into your bank account online. Companies can also transfer money, including bingo or gambling winnings, into your account, which you can in turn transfer into your own bank account or else withdraw directly with the use of a Net+ Card.
Pros and Cons of using Neteller
There are a lot of advantages to opening an account with Neteller. As mentioned, e-wallets are generally considered to be more secure than bank transfers – and Neteller secure online payments in particular has a great reputation as they are authorised by the UK Financial Services Authority! What’s more, it’s incredibly simple and straightforward to use, and you can make instant deposits and withdrawals, which is a very attractive feature.
The primary disadvantage of Neteller is that if you choose to use them, they will charge you whenever you transfer money to them. So each time you make a deposit from your bank into your Neteller account, they will charge a minimum of 3% – even if you deposit using a Paysafecard or a Ukash account. Thankfully, no charges apply to spending cash from your account. However, if you’re using the service on a gambling site then you will need to pay a fee of about £5 to transfer any winnings into your account. On top of the administration fee to use the service, overall it can get very costly!
How does it compare with PayPal?
In general, PayPal is far more widely accepted and popular than Neteller, which is probably why you’re more likely to have heard of the former than the latter. However, in the bingo world the opposite is true – Neteller is more widely accepted on most gambling sites than PayPal. On the flip side, PayPal has the attractive feature of not having any fees attached to it. Otherwise, the two are fairly similar – they both offer high quality security to your online payments and are very easy to set up and use. There’s even a Neteller app and a PayPal App, which is very useful if you’re playing online bingo.
Bingo sites that accept Neteller
There’s plenty to love about this glitzy, glamorous site, including a 400% bonus on your first deposit! That’s not all though – players can also enjoy a 100% bonus on their second, a 200% on their third and a 300% bonus on their fourth deposit!
Step out onto the red carpet and enjoy a fantastic 300% bonus on your first deposit of at least £5.
Lucky Touch is a Neteller No Deposit Bingo site which offers players a free £10 when they first sign up! That’s not all though – you can also enjoy a 500%, 350% and 300% bonus on your first three deposits respectively.