Published on October 5th, 2015 | by neteller2
What is the Importance of Neteller?
Neteller operates in the form of a well-known and well-established eWallet option on the internet at present. The company has been around for a decade now and it has 100% focus on various gambling websites. It is only because of this reason that Neteller is positioned as a company that helps its users in moving money in and out of poker rooms quite painlessly. The company came into being in the year 1996 and at present it is an established British-based eWallet. This means that the company facilitates payments by offering a digital account to its users. The users can use this account for holding their cash and then transferring it to their online poker websites or bank accounts.
What do you know about Neteller?
Neteller is a well-known e-wallet or e-money stored value service owned and managed by Optimal Payments Plc. Optimal payments Plc is a publicly traded British universal payments firm. People, in not less than 200 countries, make use of Neteller for transferring money to and from various merchants like social networks, Forex trading companies and online gambling websites. It can also be used for withdrawing cash directly by making use of Net+ card or by transferring the cash to the user’s bank account. Here, it is important to note that Neteller does not operate in the form of a bank and it also does not offer funds to its customers. Under the FCA e-money regulations, Neteller is required to maintain the funds of its customers in individual trust accounts. These funds should be completely separate from Neteller’s operating cash and they should be enough for repaying the balances of each and every customer at the same time.
Neteller started operating in the form of an online gambling payments in the month of July in 2000. During this time, Neteller processed around 80% of the total gambling merchants around the world. Around 95% of the total revenue of this firm cam e from fund transfers to online gambling companies during that time. It is also to be noted that most users were US residents. The accounts of the US based users were completely frozen as the company put off from the US. The funds were also returned post 30th July 2007. It is only because of this enforced exit from US and the risks involved with online gambling that the company has thought of diversifying. The high turnover or the loyal customers are provided a premium membership known as Neteller VIP. This includes lower fees and additional features similar to the premium membership of other competitors.
Consumers can easily sign up for their Neteller account by visiting the company website. There are more than 17 currencies in which the account can be set up. Money can be uploaded into the account through debit cards, credit cards, banks and more than forty other procedures. The deposit types tend to differ by country.