Background Information to Neteller
Neteller is an Isle of Man based electronic money payment and transfer service. It is a frequently used means of making online payments, and is always available as a deposit option on White Hat Gaming casinos.
Neteller is part of a massive electronic payment conglomerate called Paysafe Group. This organisation is also responsible for other online payment services such as Skrill and Paysafecard.
The history of the service is long and complex. It has been the subject of many takeovers and mergers, as is often the case with emerging non-traditional banking and payment services. It actually originated in Canada, toward the end of the 20th Century, before transferring to the UK protectorate of the Isle of Man in 2004.
The full story of the ownership and administration of Neteller would need space to write a several hundred page book and forensic accounting skills worthy of a PhD. Suffice it to say that over the years it acquired rival electronic payment services such as Moneybookers and Skrill, developing into a multi-billion pound worldwide business.
In 2011, the company merged with / was taken over by Optimal Payments PLC. The company subsequently changed its name to match one of its major services, becoming the Paysafe Group. The organisation is now wholly owned by a consortium of the Blackstone Group and CVC Capital Partners, who bought it for around £3 billion in 2017.
How does the Neteller service work at White Hat Gaming Casinos?
Neteller works electronically. It allows its customers to shop securely, transferring funds from a personal electronic wallet in order to pay for goods and services online. Customers have instant access to funds and can use the service to make payments anywhere in the world. It’s free to sign up: all you need is a valid personal e-mail address. New sign ups to the service merely need to link their bank current account, debit or credit cards to their new account to make online payments.
Neteller can be used to make deposits and withdrawals at all White Hat Gaming casino sites. The site in question will have set deposit and withdrawal limits. It is worth making a note of these limits at the time of making a deposit or withdrawal.
The service is also flexible: it can be used to transfer money all around the globe. It can also be used to make payments to friends and family as well as to pay for goods and services. All you need is their e-mail address. The service is also really easy to use. An app is available for mobile users to make payments even swifter.
Security is a big consideration when making online payments and Neteller is highly regarded in this respect for several reasons. Firstly, your personal financial details are not revealed to the vendor. Neither is any personal financial information sent over the internet when you make a payment. This means that neither the payments themselves, nor your financial information can be hacked or stolen. In the United Kingdom, your money is also protected by the regulation and oversight of the UK government’s Financial Conduct Authority (FCA).
Payments are usually fee free, but there are charges when uploading funds to your account. These can vary according to the method chosen, but are usually set at around 2.5%. You will also have to pay a commission fee if you withdraw cash directly into your bank or credit account, rather than using your funds to pay for goods and services.