What is Neteller?
Neteller is an e-money transfer service used to transfer money to and from merchants, such as forex trading firms, and social networks firms. Users in some locations can withdraw funds directly using the Net+ card or transfer the balance to their own bank accounts, others are restricted.
How To Use Neteller In South Africa
Step 1: Open a Neteller Account
The process of opening a Neteller South Africa account is very simple. Simply go to the official Neteller website and click on the ‘Join for free’ button to access the registration form.
You are only required to submit your name, valid email address and create a password. The password should include 1 uppercase, 8 characters, and 1 number or symbol. Click ‘Register now’ to go to the next page which requires you to indicate your preferred base currency and country of residence. Fortunately, the South African Rand is among the listed base currencies.
The next step is to provide accurate and truthful detailed personal information to successfully verify your account. On this page, you are required to provide your date of birth, gender, address, postal address, and phone number. You will be sent a six-digit authentication code through the phone number you provided in the previous step.
To safeguard your account, you are required to create a 6-digit secure I.D. that you will use when logging in and when you need to send or withdraw money.
How To Verify Your Identity
To verify your identity, you will need to submit either your passport, identity card or driver’s license. You can submit scanned copies of your ID that are saved in PNG or JPG formats.
You can also verify your Neteller account through your Facebook account. This option is optional so no need to provide information about your Facebook account if you don’t want to.
How To Verify Your Location
The last step of the verification process is to verify your address. There are two ways you can do that; you can choose either geo-location or upload address document option.
With geo-location, you only need to turn on the location of your browser so that Neteller can check your location on the Google map. This method is automatic and extremely fast, but you must be using your computer near the location you registered your account.
Step 2: Fund Your Neteller Account
You will be asked to submit a minimum of R900 ($5) to verify your account. There is a fixed transfer fee of 2.5% for all types of cards and wallets. So, you will have to pay an additional R2 ($0.13) to cover the cost.
On the account interface, click the ‘Money in’ button. Select your preferred card type to deposit on Neteller. It supports Mastercard credit, Maestro, MasterCard debit, Visa debit, Visa credit, and Visa Electron. Add the payment information that includes the amount you want to deposit, the card’s expiry month and year as well as the security numbers.
Verify the deposit information and click on the ‘Continue’ button to complete the process.
Step 3: Select Your Neteller Casino or Forex Broker
We are going to show you how to use Neteller for online casinos and online forex trading. Although you can use Neteller for all kinds of things, these are the two most popular activities.
Mansion Casino – Has Generous Welcome Bonuses and Offers:
Mansion Casino is an online casino that has been in operation since 2004. With a wide selection of casino games, outstanding software performance, and a user-friendly platform, it has become a popular online casino across South Africa.
Depositing and withdrawing funds from your casino account is hassle-free. Mansion Casino has made the process as effortless as possible by supporting a wide range of payment methods, including Neteller. It supports numerous base currencies, including the South African Rand.
eToro – Most User-Friendly Forex Trading Platform:
With thousands of users in South Africa, eToro is considered one of the biggest forex trading websites in the country. It has made the forex market accessible to everyone by creating a user-friendly trading platform with innovative features.
The initial minimum amount that you must deposit to start trading is R3600 ($200) while subsequent deposits must be at least R900 ($50). eToro supports numerous payment methods, including Neteller. It is a preferred method among South Africans because it is reliable and easy to use.
Step 4: Fund your Casino and Forex Trading Accounts
Click on the Deposit tab, select Neteller as your preferred method then indicate the amount you want to deposit. The funds will be deposited into your account immediately.
eToro
The process of depositing funds on eToro is also easy and quick.
Go to the ‘Deposit Funds’ section, choose Neteller as your preferred method, and enter the amount you want to deposit. When you click ‘Continue,’ you will be directed to a new page to log into your Neteller account. Review the transaction details and click on the ‘Pay’ button. Your trading account will then be credited immediately. If the transaction has not been approved, you will be notified through email.
Step 5: How to Withdraw Your Funds to Neteller
Mansion Casino
To withdraw your winnings from Mansion Casino, click the Withdrawal tab, choose Neteller as your preferred method then stipulate the amount you want to withdraw. The money will then be deposited into your Neteller account immediately.
eToro
Withdrawing funds from your eToro account using Neteller is straightforward.
Click on the ‘Withdraw funds’ button, enter the amount you want to withdraw, fill out the electronic withdrawal form, and click ‘Submit’ to complete the process.
Note that you can only withdraw funds available in your account balance and the withdrawal request takes 1-2 working days.
Step 6: How to Withdraw From Neteller to Your Bank
To transfer funds from your Neteller wallet to your bank account, click on the ‘Money out’ button section. Select the ‘Bank withdrawal’ section, then click on the ‘Add a bank account’ button and enter your bank details. Make sure to double-check the bank details you’ve entered.
Once you’ve linked your bank account, enter the amount you want to withdraw, verify again the details then click on the ‘Confirm’ button to complete the process.
What If Neteller Blocks My Deposit?
If Neteller blocks your deposits, you should immediately contact the customer support team.
Below are the reasons why your credit/debit card deposit might be declined on Neteller.
- You have reached the card’s limit. You should verify your card to increase your deposit limits.
- You have entered your card details incorrectly. Always double-check your name’s spelling, card number, etc. to avoid this mistake.
- The personal information on the card does not match the information on your Neteller account. To solve this, ensure you type your name correctly.
- As an additional security measure, Neteller has included the Verified by Visa step in the transaction process. Make sure you have enabled your pop-up windows and entered the correct code.
- Neteller allows you to use a credit/debit card on one Neteller account only. If you had a previous account in a different currency or closed for a specific reason, contact the support through the available channels.
- The card issuer has declined the transaction for security reasons. Contact your bank to get more information.
How Does Neteller Compare to Skrill and PayPal in South Africa
Neteller vs. Skrill in South Africa
Security
Both Neteller and Skrill are secure, reliable, and easy-to-use payment methods that are widely accepted by online casinos and trading sites.
The two companies are regulated by the Financial Conduct Authority (FCA), a leading financial regulator. Also, they have employed various precautionary measures for additional security.
With Neteller, you will choose between the Secure ID and 2-factor authentication. The Secure ID involves a 6-digit code that you will need to input each time access your account or transact. As for Skrill account holders, there is the standard dual authentication.
Ease of Use
Both Neteller and Skrill have user-friendly platforms that contain all important information about them such as offers and rewards and fees breakdown.
In addition, the two companies support a wide range of deposit and withdrawal options such as credit/debit cards, prepaid cards, e-cheques, and more.
Customer Support
Neteller’s customer support is more reliable than Skrill’s.
The ‘Support’ option is displayed on the Skrill homepage and it gives access to the FAQs section and the opportunity to contact the support through email and phone.
On the other hand, Skrill also has an extensive FAQs section and the option to call or email support. The downside is that its support takes longer to respond.
Physical Card Availability
These two e-wallets offer cards issued by MasterCard, which significantly increases the users’ accessibility to their funds.
The Net+ Prepaid Mastercard gives you greater freedom of using the funds stored in your Neteller account. To get the card, you only need to pay a one-off fee of R180 ($10) and wait for 2 to 10 days.
The Skrill MasterCard card is issued free of charge and can be delivered between 5 and 10 days. Other services such as payment process, online bank statements,s, and PIN renewal are also free.
Neteller vs PayPal in South Africa
Security
Neteller uses the latest technology to offer a fast and secure way to transfer and store funds. The security of your personal data is the company’s top priority, and it employs all the available protective measures. All sensitive information is transmitted through high-level and military-grade 125-bit encryption and stored in highly secured data centers. Other measures include Secure ID and an optional 2-factor authentication.
PayPal’s website is also highly encrypted and secure. Every transaction is monitored to prevent fraud, identity theft, and email phishing attempts. It also features a 2-factor authentication wherein you will receive a code every time you attempt to log in to your account.
Ease of Use
Both Neteller and Paypal platforms are incredibly easy to use.
On the left side of Neteller’s main page, there is a navigation bar that shows all the main sections of the platform such as your account, money in, money out, money transfer, history, rewards, calculator, settings, and support.
The PayPal platform is also very easy to navigate with the summary section as the default home page. The buttons to access the other parts of the platform are placed at the top.