Neteller - an electronic option to move funds with online casinos
With the convenience provided by modern technology, information is now more easily accessible and available to practically anyone with a little skill and a good internet connection. True, this has a lot of benefits - think of getting a lot of research done for school and other purposes, of having more information to make better decisions, even of changing the course of a nation with the sympathy and support from the international community. Unfortunately, it also has downsides - think of being deluged with a lot of potentially useless information, of cyberbullying, and of the dangers and increasing prevalence of identify theft.
In light of this last issue, technology has also been able to provide alternatives that could help address it. Enter electronic wallets, or ewallets. This is a virtual account that assists real people send and receive funds in the virtual world. One of the pioneers in this field was established in 1996, the British company Neteller.
Using a Neteller account, you are able to transact with online merchants without releasing your financial information, including with online gaming establishments. In fact, casino deposits and withdrawals used to make up the bulk of its sales reaching a few hundred million dollars in the early part of this millennium. Unfortunately, the US passed a law that technically made online gambling illegal, and the company had to withdraw from the American market, losing about 85% of its revenue volume in the process.
For non-Americans however, whose national regulations allow such, it offers a good alternative to move your funds.
To start with, signing up for an account is easy, and free! All it takes is a visit to their website and you are not even asked up front to provide personal financial information. Once your account is up, you can choose to fund it using several methods. These different methods will entail different charges and terms, and include a direct bank transfer or the use of debit, credit or prepaid cards. Once funded, you are then allowed to transact with your online merchant (or casino) of choice. Cashing in on your casino winnings is equally simple and convenient. Neteller no longer charges for such a transaction, though the establishment may levy its own fee.
Online gaming enthusiasts may wonder about the need for this extra step when direct bank transfers could just as easily work. The primary benefit to this is that is that you avoid sharing your financial information with the gambling portal, minimizing the opportunities for having your identity stolen and misused. Plus, you do not have to pay for making a deposit to the casino from your Neteller account.