If depositing with e-wallets at New Zealand online casinos is convenient for you and the route you want to take, then Neteller will surely reach the top of your list. It is one of the oldest options around and has long had a presence in the internet gambling sector. While it isn’t the cheapest option, Neteller is widespread and convenient, and we’ll show you how to make the most out of it when betting with this guide.
Neteller Explained
Neteller was founded in 1999, making it one of the first e-wallets to gain prominence online, not just in the online casino world. Licensed in several countries, popular across the EU, Australia, Canada, and New Zealand, and operated by the Paysafe Group, Neteller is a trustworthy, mainstream online banking option.
Being an e-wallet, Neteller requires you to top-up its balance. You can link Neteller to your bank card or other payment options to process transactions and fill up your e-wallet funds. You can then use this balance to deposit at online casinos. Doing so gives New Zealanders the added perk of topping up their casino account without handing over any of their bank account details to the site in question. In more recent years, Neteller has taken on new side projects. Recently, it became possible to buy, sell and trade cryptocurrencies using Neteller, and there is now a VIP scheme to reward regular Neteller users.
Neteller may no longer have quite the same market dominance that it used to – at one point, gambling transactions used to account for 85% to 95% of all its revenue, but the e-wallet is still prevalent online. Many offshore NZ online casinos still rely on Neteller to provide reliable, trustworthy and secure e-wallet payments for New Zealanders. With that in mind, let’s explain how it works next.
Deposit Process
For those who hate long-drawn-out processes, depositing with Neteller at online casinos in New Zealand couldn't be simpler. In less than 2 minutes, your deposit will arrive in your NZ casino account and be ready to use. Assuming you’ve used your Neteller card to top-up your e-wallet balance, here’s what you need to do.
- Visit your NZ casino’s banking screen and select Neteller.
- Enter the amount you want to deposit.
- Enter your Neteller e-wallet details.
- You’ll be redirected to the Neteller page on a second screen, where you can confirm the Neteller transaction.
- Confirm the transaction using 2FA (two-factor authentication) to complete the deposit.
And that’s all there is to processing deposits with Neteller at New Zealand casinos. Next, let’s talk about how you can cash out your winnings.
Withdrawal Process
To be perfectly honest, withdrawing your Neteller winnings is largely the same process as you used to deposit, albeit in reverse. Select Neteller from the withdrawal options open to you on the cashier screen, and then enter your Neteller account details alongside the amount you want to withdraw. Next, confirm the transaction. Once your withdrawal arrives in your Neteller account, you can keep it there or move it on to your bank account.
You will likely need to have cleared the casino’s KYC step before withdrawals are permitted. If you’ve done so, the casino will start processing your payment in what is known as the pending period. If you haven’t been through the KYC step yet, you’re advised to do so now. It will take 24-48 hours to provide all the necessary ID, residential and proof-of-payment documentation to customer support.
Fees and Limits
Neteller certainly isn’t the cheapest e-wallet out there – both Skrill and PayPal are cheaper, for instance. However, Neteller is one of the most widespread, and that may be what’s most important to you. In terms of fees, there won’t be anything associated with depositing and withdrawing at online casinos. However, you will notice that fees appear when you deposit into your Neteller account and when you cash out your winnings from Neteller to your bank.
As for fees, most New Zealand Neteller casinos have limits that start at around $20, and they can rise up to $5,000 in most cases. There are, of course, the odd NZ Neteller casinos that have much higher limits than that, so if you fancy yourself a high-roller, you may need to seek those out. The fees associated with funding a Neteller account (or withdrawing from one) don’t necessarily make Neteller the ideal option for low-rolling players or those who want to tighten the purse strings.
Transaction Times
Neteller deposits are instantaneous. You should receive your deposit in your online casino account within seconds. However, it can take up to a day or two to fund your Neteller e-wallet account from your bank. As for withdrawals, most casinos can process your winnings to your Neteller account within 1-2 days, although some may take three days. Neteller can take just as long to process withdrawals to your bank.
These are just “guidelines”. As we’ve seen many times over the years, sometimes Neteller can process payments far faster than at other times, and each casino is notable for how quickly it processes Neteller payouts over its counterparts. Sometimes, things really are just a mixed bag of results with Neteller.
Why Use Neteller at Online Casinos in New Zealand?
We’re a bit on the fence when it comes to Neteller as a New Zealand online casino payment method. On the one hand, it is costlier than Skrill and slower than PayPal. However, it is also more secure than Skrill and more widely available than PayPal, so we can definitely see that it has both pros and cons.
The tipping point for us is that Neteller has over twenty years of experience in the online casino world. Moreover, it has a VIP scheme, a dedicated prepaid card, and a few other nice crypto-related perks that make it marginally a more comfortable option for New Zealanders. Of course, if fees and transaction times are the most important thing for you, Skrill or PayPal may suit you better.