Neteller vs Skrill: Which eWallet is the best for Gambling?

What is Neteller?

Founded in 1999, Neteller is a well-established payment solution. This highly renowned digital payment method is owned and managed by Paysafe Group, a UK financial firm. It is regulated under the Central Bank of Ireland.

Neteller financial services expand worldwide to several countries. Among its services include a prepaid card that can be used with its digital wallet. This e-wallet boasts a substantial presence in neteller casinos and handles transactions for 85% of the global gambling merchant industry.

What is Skrill?

Skrill is a virtual payment system founded in 2001. This virtual payment system is owned and managed by Paysafe (the same firm that owns Neteller). Skrill is also regulated by the Central Bank of Ireland.

Besides providing e-wallet services, it offers various features for handling funds in skrill casinos, including a prepaid card. It is a global solution, with services available in several countries and currencies.

Comparing Neteller Vs Skrill Based on Various Factors

Which is better: Neteller or Skrill? To answer this question, we will compare Skrill and Neteller based on the following factors:

• Security
• Simplicity of use
• Accessibility
• Transaction fees
• User Experience

Security

Security is a vital aspect when it comes to choosing a payment method for your internet wagering. That said, Skrill takes great pride in adhering to Payments Card Industry Data Security Standards. What this means is that Skrill utilises the best encryption protocols to ensure user data security.

Additionally, Skrill requires online casino players who rely on its e-wallet for casino deposits to use a password and PIN code for authentication purposes. This further increases data security by preventing unauthorised access to user accounts.

In the case of a security breach, Skrill allows users to lock their accounts down immediately. Just a phone call to customer support is enough to prevent your funds from being stolen.

On the other hand, Neteller is also a security buff. Neteller uses the 128-bit encryption technology to ensure maximum security for its user data. It also makes use of 3D Secure technology, which is supported by Visa and MasterCard.

Similar to Skrill, Neteller also requires its users to use strong passwords and PIN to access their e-wallets. Users need to authenticate every transaction using their PIN or password thus adding an extra layer of security for payments.

Simplicity of Use

Both Skrill and Neteller have simple and well-designed platforms. The two are also easy to access, create an account, and log in. However, they have a few minor differences as far as simplicity is concerned.

The Neteller site is slightly more complex to navigate, with a classic UI which is not as sleek and simple as Skrill’s. However, the site is easier for users who have interacted with it for quite some time.

On the other hand, Skrill has a sleeker UI. The platform is simple to navigate making it easy to send or receive money without much trouble.

Additionally, Skrill provides a user-friendly mobile app that makes account management and processing of transactions easy.

Accessibility

Both the Neteller and Skrill e-wallets offer users additional ways to access their funds, with the most important being a plastic Mastercard card. This card increases the ability to access funds quickly and easily, especially when users want to deposit or withdraw casino funds. This card also allows players to use their funds easily.

Skrill has a Prepaid Mastercard plastic card, which is issued on demand and delivered to the holder’s designated address within five to ten days. This delivery, as well as other services like online bank statement request, PIN renewal and processing payment directly via the card are absolutely free.

Nonetheless, online casino users may find that the Mastercard is an inconvenience. It only has some currencies available, namely USD, GBP, EUR, and PLN. This makes using the Mastercard quite limiting. The card also has daily and monthly cap limits regarding how much can be spent at points of sale, limiting casino players further.

On the other hand, Neteller e-wallet also has a partnership with Mastercard for its plastic card solution. This partnership is crucial for online gamblers, considering the widespread use and availability of Mastercard for casino payments.

Neteller offers users more freedom in the use of the Net+ Prepaid Mastercard. With it, users can access the funds in their corresponding Neteller account. Users must apply, pay the USD 10 once-off fee, and wait for 2 – 10 business days for card delivery.

Transaction Fees

Key factors that online gamblers consider when choosing an e-wallet for gambling include how fast it processes transactions, how much money it charges for transactions, and how much it allows the user to transfer.

Depositing

Neteller charges a fee for casino deposits from a bank account, with some being free while others incur a commission of at least 1.5%. However, in the worst-case scenario, Neteller charges users 7.5% when depositing funds in casinos. This is a lot of money, especially for those who make frequent casino deposits.

This is where Skrill outshines Neteller. Skrill offers free deposits in any currency from a broad list of countries. For online gambling, this makes Skrill an excellent choice. As a result, casino players won’t have to pay anything extra when funding their online accounts, and the transfers usually take less than two hours.

Withdrawing

Withdrawing Neteller funds incurs a flat €7.50 transfer fee. Those using the Net+ Prepaid Mastercard don’t pay any fees when withdrawing.

Skrill also charges users a fixed amount to withdraw funds—€1.80 for bank transfers and €3.50 for cheques. This makes Skrill less expensive to use, especially on a daily basis.

Transaction Limits

Both e-wallets start with low limits, which increase radically after the accounts are verified. Neteller allows customers to hold only €2850 as a maximum lifetime funding in unverified accounts.

However, once you provide the necessary information to prove identity, the limit is lifted to €4000 for deposits using credit cards and a massive €400,000 for those who use bank transfers. Online gamblers who prefer to use Ukash or Paysafecard are allowed to deposit a maximum of €5000 per month.

Skrill has a similar procedure, with users being requested to verify banking information, ID and address before performing any transactions. Online players who use credit cards can perform transactions of €1000 per day and cash out a maximum of €250 over the same period of time.

User Experience

You only get one chance to make a good first impression, and Skrill has always known how to impress its new customers without isolating its existing users. Since its inception, Skrill has changed its interface several times, with the most important transformation occurring when it made the rebranding from Moneybookers.

In contrast to Skrill, which boasts a simple, minimalistic design, Neteller has chosen to use a traditional layout that looks cluttered and overcrowded. While existing users enjoy having the critical features easily available, prospective customers may feel overwhelmed initially.

Nonetheless, Neteller will grow on users over time, and once they get used to using the platform, they won’t want to return to Skrill’s minimalistic design. However, it’s important to consider that Skrill is more user-friendly for new users.

Skrill Vs Neteller: Advantages and Disadvantages

Neteller and Skrill compare differently in terms of advantages and disadvantages. Below is how the two compare:

Neteller Advantages

• Transactions are simple and quick
• Prepaid Mastercard and virtual payment cards
• Payments are free to merchant websites
• It can be used at many exchanges, forex sites, bookmarkers, and poker websites

Neteller Disadvantages

• Non-VIPs have to pay a significant conversion rate of 4.99% over the standard exchange rate
• Customer service is lagging
• Registration is unavailable in some countries

Skrill Advantages

• It offers both personal and business accounts
• Safety and security are strong on the platform
• A Skrill prepaid card is available

Skrill Disadvantages

• It’s unavailable in a large number of countries
• Customer service is lagging
• Deposit fees and currency conversion fees for non-VIP users are quite high

Is Neteller Better Than Skrill?

The choice between Neteller and Skrill largely depends on your specific needs. Skrill offers you lower transaction fees for your transactions. It also offers a mobile app that makes it easy to access and user-friendly.

On the other hand, Neteller offers you robust security measures and 24/7 customer support. It is also suitable even for international transactions.

Both Neteller and Skrill have reliable, convenient options for users wanting to use online casino deposits and withdrawals conveniently. Either way, users must consider the fees, terms, and features associated with each option before choosing one.

Read more about Skrill or Neteller!

Tips for Choosing a Payment Method for Your Online Gambling

• Choose a Trusted E-wallet: Select the most reputable e-wallet provider with a track record of security and reliability. Both Neteller and Skrill are generally safe choices, as they have robust security measures in place.
• Check Casino Compatibility: Before signing up at an online casino, make sure it accepts either Skrill or Neteller payment methods. Not all casinos support Skrill and Neteller, so verifying compatibility is essential to ensure smooth transactions.
• Set a Budget: Establish a budget for your online casino activities and load your Neteller or Skrill e-wallet with the amount you’re comfortable spending. Stick to your budget to avoid overspending and potential financial problems.
• Monitor Transactions: Keep a record of your Skrill or Neteller e-wallet transactions at the casino, including deposits and withdrawals. Regularly reviewing your financial activity helps you stay on top of your spending and ensures all transactions are accounted for accurately.
• Maximise Bonuses and Rewards: Some online casinos offer bonuses and promotions specifically for Skrill or Neteller e-wallet users. Keep an eye out for these special offers, as they can provide additional value and enhance your gaming experience.

Frequently Asked Questions Netteler Vs Skrill

In this section, we will explore some of the frequently asked questions about Neteller vs Skrill. Read on to get the answers!