Find out which are the best alternatives of Neteller and Skrill for betting. Get valuable information about gambling payment methods.
Neteller and Skrill alternative for gambling purposes
Neteller and Skrill, which are popular payment services among gambler worldwide, are both part of the family of the Paysafe Group Plc. group of companies. Neteller is offering online payment services and a type of e-wallet service and is being regulated by the Financial Services Authority (FSA) in the United Kingdom.
Paysafe Group Plc. started the Neteller service in 1999, while Skrill was acquired by Paysafe in 2015, making the service a daughter company of Paysafe. What it means is that since Neteller and Skrill are sister brands, both payment services share almost the same terms and conditions as well as pricing policies.
Another payment service that is under the umbrella of Paysafe is PaysafeCard, which is another popular method for punters to deposit money with bookmakers across the world. Nonetheless, it is a prepaid card service as opposed to Neteller and Skrill although Neteller also issue a card called Net+ and Skrill offer a prepaid MasterCard.
As Neteller initially started in Canada, it was a favorite payment method for bettors in North America for a long time until Neteller alternatives started to appear one after another. Apart from PayPal, there are Neteller and Skrill alternatives that include online payment services and e-wallets such as ecoPayz, EntroPay and WebMoney. You should also know that in some cases even debit and credit bank cards could be an alternative and might provide better terms as compared to Neteller or Skrill.
We’ll explore the best alternatives to Neteller and will take a detailed look at services similar to Neteller and Skrill in the next sections.
EcoPayz as Neteller and Skrill alternative
There were times when up to 80 percent of all online transactions to online casinos went through Neteller. After the USA adopted regulatory changes in the past decade, Neteller’s turnover dropped drastically and new online payment methods for gamblers emerged.
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EcoPayz is one of these new payment tools and is one of the best alternatives to Neteller due to a bunch of factors.
In 2000, the company created the original EcoCard to operate as an e-wallet. Since then, they rebranded themselves as ecoPayz and started offering a number of other payment tools while retaining the initial EcoCard, which is both a virtual and physical prepaid card. The card is now available in more than 170 countries all over the world, covering 47 different currencies compared to 22 currencies available at Neteller.
One of the advantages of EcoCard for punters is that it does not require credit checks or provision of bank account information. This makes it an extremely convenient payment method for gamblers to deposit money through a prepaid card. The virtual EcoCard also provides an additional layer of protection for bettors that do not want to link their bank account to a gambling website.
EcoPayz offers further advantages as a Neteller and Skrill alternative. In stark contrast to these services, you can open an ecoPayz account by entering only a few lines of personal info such as your name, email address and street address.
You need to input some financial info to fund the account but the verification process is through email confirmation and does not involve video confirmation or submission of copies of your ID card or passport. Bear in mind that services such as Neteller or PayPal require either account verification through video session or submission of copies of sensitive documents such as your ID card or driver’s license.
Once you have created an ecoPayz account, you can use it as depositing method in virtually any licensed gambling site in the world. You can purchase sportsbook, casino or poker credits with a single click. You can also minimize transaction fees since ecoPayz allows you to withdraw winnings back to your EcoCard.
EcoPayz might seem very similar to Neteller at a first glance but besides the above advantages they also offer lower fees on almost any transaction. Foreign currency exchange fees start at 2.99 percent as compared to 3.99 percent at Neteller. Fees for depositing money through a credit card start from 1.69 percent at ecoPayz compared to 1.9 percent at Neteller.
You can also gain Silver VIP status right after account activation and gold VIP after transferring EUR 25,000 while the respective Neteller VIP statuses require transfer or USD 50,000 and USD 100,000 a year, respectively.
All of the above mentioned features of ecoPayz make their EcoCard one of the best alternatives to Neteller and Skrill.
EntroPay as Neteller and Skrill alternative
EntroPay is another e-wallet that is similar to Neteller and is probably the most popular online payment method for gamblers in the Philippines, Indonesia and India, each of these countries being a huge gambling market.
The company is founded in 2003 and their service is available all over the world. Their online payment service is operated by issuing a virtual VISA card to punters, which means that bettors can use it on literary any gambling website.
You fund their virtual VISA card by the means of a personal debit or credit card. No credit checks or bank account details are required. In addition, the card acts as a middleman between your bank account and the bookmaker, so an additional layer of security is added.
As opposed to e-wallets like Neteller and Skrill, any gambler can register for an EntroPay account by just entering his name, birthdate, country of residence and email address. There is no need to provide an ID card and no video confirmation is required.
You just select a debit or credit card you will use to fund the virtual VISA card, which you can also fund through classic local bank transfer.
Their card deposit fee is relatively high at 4.95 percent but the currency exchange fee of 2 percent is acceptable and transactions are free. In any case, it is by far more easier to use and has far less registration requirements compared to Skrill and Neteller.
WebMoney as Neteller and Skrill alternative
Another of the Neteller similar services is WebMoney Transfer that was established in 1998 to provide a global online payment method. Now, it boasts more than 36 million customers worldwide. The Moscow-based company is working in the same way as bitcoin – gamblers and other users buy and transfer virtual tokens called “WM units,” which they can withdraw from digital wallets in the punter’s local currency.
This way, bettors are able to avoid certain banking regulations in specific countries. Also, WebMoney is licensed to issue electronic currency across the entire territory of the European Economic Area.
One marked difference between Neteller, Skrill and WebMoney is that WebMoney offer a standalone application you can install on your PC and manage your funds from there. You can also manage your funds online via an app that runs in a browser.
As opposed to other Neteller similar sites, WebMoney offers a plenty of options to fund your e-wallet. You can use cash deposit, local bank transfer, Web Money’s prepaid card, CashU prepaid card or e-currency exchange to deposit funds into your WebMoney account.
Just like the other Neteller similar services we have mentioned so far, WebMoney do not ask for web-cam verification nor do they request submission of personal ID documents. You just enter your personal details such as name, date of birth, current location, email address and mobile phone number, and then you verify your account by receiving an email message and a text message on your phone.
WebMoney are charging transactions at only 0.8 percent and there are no fees to transfer money to a WM Card.
You should be aware, however, that US residents cannot use their WebMoney accounts for gambling purposes.
PaySafecard as Neteller and Skrill alternative
Strictly speaking, PaySafecard is not exactly a Neteller and Skrill alternative as they are member of the same group of companies, incorporated into a holding structure. Nonetheless, PaySafecard offers valuable advantages as compared to Neteller and Skrill.
PaySafecard is available in 46 countries across the world and its distinguishing feature is that you can use cold hard cash to fund your prepaid card. Another option that is of use to gamblers is that you do not have to register with them but instead you buy PINs that cost from 10 to 175 and then use the purchased credits to place wagers online.
Their card is available mostly in Europe and other world regions but also in the USA. Bear in mind that US bettors cannot use PaySafecard for placing wagers online.
It is a bit inconvenient that you need to contact their customer service in order to cash in the credit on your card. PaySafecard also charges USD 7.50 per refund to your bank account. No other fees are being charged during the first year of using PaySafecard.
PayPal as Neteller and Skrill alternative
PayPal is a Neteller and Skrill alternative only in a broad sense due to their relatively high fees, very complex and demanding registration process as well as unavailability in many bookmakers and sportsbooks worldwide.
Actually, PayPal is a middleman at its best and you might incur both excessive charges and waste lots of time using it for gambling purposes. First of all, you need to deposit money with them, which might take up to five days if you use bank transfer.
Then you need to deposit the money with the bookmaker. You need to use PayPal again to cash in your winnings and transfer the money to your bank account. And charges might be applicable during the entire process, back and forth.
We cannot say PayPal is very similar to Neteller because not every casino and sportsbooks is accepting PayPal. That is not casino’s fault but PayPal tend to apply a very strict vetting procedure that even legitimate bookmakers could not pass at times.
Moreover, PayPal are actively freezing accounts of their users at their sole discretion, which may result in a scenario where you cannot withdraw your winnings from your own PayPal account.
Other Neteller and Skrill alternatives
We have looked at selected Neteller similar services but we should also mention a few additional Neteller alternative payment methods.
Most casinos and sportsbooks are accepting debit and credit cards such VISA and MasterCard. A limited number of bookmakers also take American Express but this card is not widely accepted due to charging merchants with high fees.
Thus, you can always deposit money and start gambling in virtually any online casino or sportsbook by using your debit or credit card. The only drawback is that you do not take advantage of the extra layer of security that an e-wallet provides but this should not be a problem if you place wagers at one of the reputable bookmakers.
You should also bear in mind that payments through a VISA card might involve processing fees while sometimes you will only be allowed to deposit money via your MasterCard but then you will need to cash out your winnings using another payment method.
Another option for gamblers to use is an electronic currency such as Bitcoin. You can now find online casinos that operate exclusively in bitcoins and other cryptocurrencies are entering the gambling market gradually. Actually, a number of the largest and most reputable online casinos accept bitcoin wagers already.
These cryptocurrencies provide unparalleled level of security and anonymity and also help you place bets in countries where gambling is restricted.
The last Neteller alternative is to use wire transfer but it is a payment method of last resort. High fees and the need to link your bank account to a third-party internet banking service do not speak in favor of this payment method.
Both Neteller and Skrill are reputable and reliable online payment methods to deposit and withdraw money for gambling purposes. Nonetheless, there are plenty of services similar to Neteller and Skrill and some of them offer better terms and lower fees while being easier to use.
Every gambler should decide for himself which is the best alternative to Neteller for him but at this stage ecoPayz seems as the best alternative to both Skrill and Neteller. WebMoney and EntroPay are also viable alternatives while PaySafecard requires a bit more effort when transferring money to your bank account is concerned.
Other options such as PayPal or wire transfer are increasingly inconvenient and hard to use for gambling purposes while only a limited number of online bookmakers and casinos accept cryptocurrencies as of today.
Choose carefully any payment method you will use for online gambling as the market for online payments services is very dynamic and alternatives to one or another payment method emerge regularly.