A while back, we looked at a few different ways to deal with credit card rejections. Perennial favorites PayPal and FirePay have recently been joined by NETeller, but is NETeller really a viable option for online gamblers?
The basic premise of NETeller is the same as it is for the other services: put money into a NETeller account and use the account to fund online purchases (like casino deposits). The way in which you go about doing that is a little different at NETeller, however.
U.S. residents can deposit money to their NETeller account using NETeller’s InstaCash system linked to a bank account, their Visa or MasterCard, the Fcash.com online cash transfer system, electronic fund transfer, or they can deposit money into NETeller’s corporate bank account. International customers can only use their credit cards or make direct deposits to the corporate account.
All those choices may sound great, but there are a few strings attached. First, electronic fund transfers from your bank account will take two to four business days, and second, NETeller charges a processing fee to use your credit card. Unfortunately, much of that information is hidden in the login section of the site and that seems a little counter-intuitive for a company that should be trying to create trust with its customers.
There aren’t as many options for withdrawals, and there are a few more strings. Electronic fund transfer usually takes one to two days, and checks cost $25 for FedEx delivery. (They’re free by regular mail.) You can use your credit card, but will only be able to withdraw the amount you deposited from the card. So you can only withdraw $100 even if, for example, you’ve won $500. NETeller doesn’t plug its InstaCash system as the best option, but that’s what it becomes because nothing else is particularly desirable.
As for other things, making a payment is pretty simple once you’ve got money in your account and security is what you’d expect from an e-commerce company – 128-bit encryption, VeriSign certification, and random 12-digit account IDs.
The service may sound similar, but there are a few differences between NETeller and its larger competitors. One of the biggest is the option of same-day fund transfers using InstaCash, whereas you generally have to wait anywhere from three to five days for withdrawals from the other guys. One other nice feature is a tracking section that allows you to see what you’ve deposited or withdrawn and where the money went.
The real question here is whether you should use NETeller instead of another service. There are a few nice features, but it’s hard to give NETeller a glowing endorsement based on the limitations for international customers and some of the withdrawal issues. The key here is to have alternatives, and NETeller does offer another alternative to credit cards. Even though more casinos accept PayPal or FirePay, NETeller is a viable option if you’re having problems with your bank rejecting casino transactions.
If you do decide to try NETeller, find a casino that is offering a NETeller deposit bonus. Many sites have a 5- or 10 percent bonus on your first deposit, and that can often come on top of the regular bonus. There are several casinos that accept NETeller these days, including Colosseum Casino, Floridita Club Casino, Grand Hotel Casino, Vegas USA, Golden Comps Casino, and Omni Casino. Other casinos out there also take NETeller, but you’ll have to dig a little to find them.