Neteller is a worldwide payment and remittance service that is very popular in the betting market. This e-wallet is accepted by many best online betting sites worldwide such as 1xBet and has quickly become the primary way of sending money to gamblers worldwide.
When opening an account, Indian gamblers can link a local bank account to that account by completing a simple verification process. While it takes a bit of time to set things up at first, once the account is verified, it is easy to deposit and withdraw cash from online casinos.
Why Use Neteller?
The easiest method to deposit money into a betting site is to simply pull out your credit card and enter the number to deposit. However, depending on which website gamblers use or where you come from, this might not always be an option. So this is an excellent alternative to sending money. Although banks in some countries are prohibited from processing online sportsbook transactions, most banks allow deposits into this e-wallet.
What Is A Neteller Account?
This e-wallet account allows users to send or receive money from online merchants such as online casino operators. This wallet processes online payments for 85% of the online gambling operators.
Not only being used as a payment method for online gambling on thousands of e-commerce websites, but this e-wallet is also integrated as a payment gateway for online transactions.
This e-wallet is easy to use, and all gamblers need to create is a user account. This is an easier option as many local banks do not allow deposits in online betting wallets.
Neteller in India
Gamblers from India are authorized to create an account at this e-wallet and fund gambling website accounts. However, there are some problems when users want to transfer money out of India. Most credit cards and banks will block the transaction, making it impossible for gamblers to receive money.
This also involves the Reserve Bank of India (RBI) issuing the Liberalized Money Transfer Scheme, limiting the amount of money that Indian bettors are allowed to move out of the country each year. There are different limits on how gamblers use their money.
Besides, ICICI bank seems to be able to complete using this e-wallet without any problems. Most other banks do not seem to allow these transactions abroad and will try to block them.
How To Deposit Money with Neteller From India
Gamblers can use different methods, including Bank transfers, Credit Card, Debit Card, or e-wallets like Skrill and Paytm.
If you want to deposit money into an online betting wallet, you should use an e-wallet. Indian banks only allow transfers to and from this e-wallet if the account is not for gambling. An easy way is to use Skrill or Paytm to fund your account, then top up your betting wallet.
Deposit from Local Bank Accounts
Log in to your account and look for the “Cash In” section on the dashboard. Click this tab to display the deposit channels available for use. Select the option “Deposit money via a local bank.”
Then, enter the amount you want to deposit in the space provided and click continue to confirm the transaction. A page will open for users to fill in the required banking information needed to complete the deposit. Deposits are completed by transferring money from your bank account to your account using different banking channels.
The banking channels available to use, include phone banking, online banking, or visiting a local branch. Include a 12-digit Neteller ID in the bank form if the gamblers are using a local bank branch. If you are using Internet Banking, use Neteller as the payee in “Bill Payments”.
Using this option is relatively slow as it can take 1-3 business days to complete. Besides, if funds are transferred to this e-wallet for gambling purposes, the local bank will reject the user’s request.
Deposit From Paytm
Deposits with Paytm cannot be made directly, so users will have to use a trusted third-party merchant website.
Deposit processing time:
- Local Bank to Skrill: 1-3 business days;
- Skrill to Neteller: Right away.
Deposit from Skrill
Skrill is another e-wallet that gamblers can use to deposit money into Neteller accounts. To deposit money into your account from your Skrill account, follow these steps:
Log in to your account, then click on the option “Funds in” on the dashboard. Then various deposit channels are shown, including Skrill. Select Skrill as the deposit option and fill in the amount you want to send. Click the “Continue” tab to continue trading.
After that, users will be redirected to the secure page to log into their Skrill account. Enter the correct details and log in. Once completed, the available balance will be displayed, and you can click the “Pay now” button to complete the transaction.
Click the continue button to return to your account, and you will receive a confirmation message that the transaction has been processed. You will also receive a confirmation e-mail.
1. Is it legal to deposit with Neteller in India?
Using and sending money with Neteller is legal in India. This e-wallet is a large and reputable company regulated by the Financial Conduct Authority. Users can rest assured that this e-wallet is operating with the Reserve Bank of India (RBI) approval and oversight.
2. How to verify a Neteller account in India?
To verify the account, fund your account. Upload a relevant government ID like an international driver’s license or passport to verify your identity—also, upload proof of residencies such as utility bills or bank statements.
3. Which banks in India support Neteller?
Almost all banks in India support this e-wallet transfer. For faster transfer, gamblers should use ICICI Bank. Other popular banks like State Bank of India (SBI), Baroda Bank, HDFC Bank, HSBC, etc., also support this e-wallet.
4. How long does it take to withdraw funds from Neteller to my bank account?
It will take approximately 3-5 business days to process your withdrawal.
5. Can I deposit Indian Rupees with Neteller?
This e-wallet allows users to conduct transactions in rupees. This is a massive benefit as it enables Indian gamblers to save money on the expensive currency conversion fees charged by other services like banking.