Neteller is one of the most trusted eWallets available for online poker players. The company was launched as an easy online payment source that quickly became popular with online poker players. It enables consumers to easily make online purchases and fund poker accounts without having to disclose personal banking information to the site they are making purchases at.
What are the Best Hold ‘em Sites that Accept Neteller?
Online poker sites quickly started accepted this deposit method soon after the eWallet was launched. This is an easy solution for players to move money to and from their accounts. It continues to be a very popular method at many sites.
We have hand chosen the best Texas Hold ‘em sites for you that accept this funding option. The sites that we have chosen are trusted sites with a long history of good standing with players. These sites offer the best bonuses and promotions, best security, and pay cash out requests in a timely manner. All of the Neteller poker sites that we promote are licensed and regulated by governing bodies that do frequent checks to make sure that the sites are operating fairly.
Can Hold ‘em Players in the US Deposit with Neteller?
Unfortunately, this payment method is no longer available for poker players in the United States. The company pulled out of the US market after the UIGEA ruling. The ruling made it illegal for US banks to process payments to online gambling sites. If you reside in the United States then we suggest that you use Mastercard, Visa, or Western Union to fund your account.
What are the Advantages of Depositing with Neteller?
Neteller is a simple solution to all of your financial transactions at online poker sites. Check out some of the main advantages of using this method below:
- Complete Poker Banking Solution – This funding solution enables players to deposit and withdraw funds to one central account. The funds can easily be transferred to and from your personal checking account, or you can spend your available funds by using the Mastercard debit card that will be issued to you when you open the account.
- Fraud Protection – The possibility of someone gaining your personal banking information is almost completely eliminated when you choose this method to deposit.
- Easy Access in Many Countries – It is available in many countries and accepts over 26 major currencies.
What are the Disadvantages of Depositing with Neteller?
If this is an option for you to choose then we highly suggest it. We do have an overview of disadvantages below:
- Not Available to US Players – The company pulled out of the US market in 2007 which left many avid poker players scrambling for a funding source.
- May not be Instant – Subject to the method you choose to load your eWallet account, it may take a few days before your funds are available. This can be frustrating to poker players that want to play instantly. Players should plan accordingly if instant funds are not available.
- Fees – The poker sites do not usually charge players a fee, but Neteller may have some fees. Depending on the method you choose to load your account with, you may be charged a 1.5% to 5% fee.
How Does Neteller Work?
This is a simple payment solution for online purchases. You will need to go to the site and set up an account. You will then choose the method that you would like to load your account with. You can link it directly to your checking account or you can fund it with a credit card. Once this is complete, you simply enter the amount of funds you would like to load.
Your funds can be used at online merchants and poker sites by selecting Neteller as the option in the cashier section. You will then enter your Neteller login information and you will be able to pay instantly. It is a simple process that is very secure.
Why Should I Deposit at Online Poker Rooms with Neteller?
This is one of the most secure payment methods available when it comes to depositing and cashing out funds from online poker sites. The best encryption software available is used by this company to ensure that your personal banking details can never be seen by a third party.
It provides a resource for fast withdraws from your poker site. It is a much quicker option than waiting for a check from the poker site. Once the funds are in your account you will have instant access to spend them as you like with your Neteller Mastercard.
Neteller was created in 1999 mainly as a resource for online gamblers to easily move money to and fro sites. The first online gambling payments were processed in July, 2000, and this eWallet quickly boomed in the online gaming world. Over 80% of online gambling venues were using it as a payment processor at one time.
Following the UIGEA ruling in 2006 that made it illegal for US banks to transfer funds to online gambling venues. The US government froze Neteller accounts for US residents. The company was eventually able to return the money to the individuals, but the company took a hard hit. The majority of its members were from the US. The huge effect that the exit from the US market had is reflected in the revenues the company reported. The revenues fell from $239 million in 2006 to $61 million in 2010.
The company has tried to revamp and focus on other areas outside of online gambling, but it has had a hard time competing with huge eWallets that have already been well-established like Paypal. In an attempt to better compete the company started issuing Mastercard debit cards that are linked directly to the account.
Despite all efforts to diversify, Neteller remains one of the most popular banking methods for poker players outside of the United States. It is the most convenient banking method that I have ever used, and I am saddened that it is no longer available for US players.