Neteller Casinos – Online Casino Payment Methods

Neteller is a financial services company operating from the Isle of Man and regulated in the United Kingdom. It was founded in 1999. Since 2004 Neteller has been listed on the London Stock Exchange. In November 2008 Neteller change its name to Neovia Financial PLC, mainly as a signal of breaking away from the past. 2007 had been a bad year for Neteller. In January two of its former executives and major stakeholders were arrested in the United States by the Department of Justice on charges of transferring funds to promote illegal online gambling activities. Neteller withdrew its services from the American market and in July 2007 it reached a financial settlement with the Department of Justice to avoid further prosecutions.

Neteller offers three financial services, which are the Netbanx gateway, Neteller e-wallet and Net+ debit cards. It also holds a significant share in the Poli bank payment service. Netbankx is involved in the processing of credit and debit cards used in online applications, through telephone and automated phone channels. It was launched in 1996 and merged with Neteller when Neteller was started in 1999.

The Neteller e-wallet is the product that is widely used in the online gambling industry. It is offered to online players in over 160 countries. Since Neteller is regulated by the Financial Services Authority of the United Kingdom consumers are assured of the highest security and integrity. The Neteller e-wallet offers many conveniences to online players. Players can sign up for free from the Neteller website. Neteller carries out transactions in about 20 national currencies including major currencies like the US dollar, the British pound and the Euro. The Neteller e-wallet can be funded in a number of ways. These include from bank accounts, using credit or debit cards or alternative payment methods like Ukash, Giropay, Ideal, DirectPay 24 or POLi. Some of these methods have country restrictions. The Neteller e-wallet can be used to transfer funds to online casinos and also for any other online applications. One of the advantages of Neteller is that it can be used to receive payouts from online casinos as well. Therefore players subscribing to Neteller need not use one method for depositing funds and another one for receiving funds. Finally funds can be withdrawn from the Neteller e-wallet by a number of means including bank transfer and check. Neteller maintains over hundred percent of the deposits it holds in separate trust accounts and therefore the depositors’ funds are totally secure. Neteller does not use these funds for its operating requirements.

The Net+ card is the latest product from Neteller, having been introduced in 2008. Under this name both plastic and virtually prepaid debit cards are offered. This product is offered in collaboration with MasterCard. The advantage of the Net+ is that the card can be used only once. This goes a long way in preventing identity theft, which is a major issue with credit and debit cards. Even if the online casino’s server is hacked into and the Net+ card number stolen the player’s identity and funds are protected because that card number cannot be used again. Net+ won the award for the best new repaid card at Cards & Payments Europe 2009.

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