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Chances are if there is one online payment method that you’ve heard of, it’s NETeller. One of the very first of its kind, it has become virtually a generic term for online virtual banking accounts.

In a nutshell, the primary services offered by NETeller are instant money transfers to online merchants, secure online shopping, real-world cash withdrawals and peer-to-peer money transfers (where you transfer money from your NETeller account to someone else’s).

NETeller is authorised and regulated by the FSA and is affiliated to Mastercard. It also offers a Net+ card, which is linked to your NETeller account, allowing you to make withdrawals at ATMs.

One of the things that distinguishes NETeller from many other online payment methods is that it operates an internal rewards program. You earn rewards for referring friends, and earn NETPoints for every transaction you make – be that sending money to friends or paying online merchants. There are promotions that offer cash prizes, and VIP membership for those who transfer high amounts monthly – which includes free withdrawals, more flexible limits and more favourable foreign exchange rates.

Security is of course state-of-the-art, with securely encrypted lines for money transfers, and firewalls protecting the servers on which your information is stored. In addition, the money that you deposit into your NETeller account is perfectly safe and always available, thanks to FSA requirements that all customer money must be kept intact in a separate fund – thus avoiding any future liquidity problems.

To use NETeller you first open an account, which requires that your details are verified. You’ll receive a call from a NETeller consultant to this end, and then your account is fully accredited, allowing you to start using it. You fund it by transferring funds via a credit card, debit card, or local or international bank transfer. Once this is done you can use your NETeller account to make online purchases, transfer money to other NETeller user accounts or transfer money into your casino account. You can withdraw from casino accounts directly into your NETeller account as well.

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