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Last Updated: June 5, 2019

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Neteller vs. Skrill at Online Casinos

Introduction

Processing payments...

... for the online business establishments nowadays is no matter to be taken lightly, especially since most of them actually sustain themselves through such transactions. Nevertheless, it takes a lot more than just choosing a straw from the haystack in order to boost your business significantly.

Alternatively...

... individual users looking to pay for products and services online are just as dependant on the best way to get their funds across. After all, they need to make sure to maintain security and protection of their info, all the while avoiding incurring some higher fees in order to keep things sustainable.

Ultimately...

... most of these individuals tend to make their choice based on a line of features. While some prefer the method that rewards them through a VIP program for achieving greater traffic volume, others opt for the service that focuses on providing a tangible, plastic card solution apart from the online account. Thus, it can be concluded that user preferences vary drastically; even at that, Skrill and Neteller still manage to maintain their spot among the top choices so far.

About Neteller

In order to choose the best option...

... for your online payment needs, you need to learn more about each service and the ways they compare and contrast in some key features. Neteller has quite a track record to boost it, since its launch dates all the way back to 1999.

The Neteller company is currently owned and operated...

... by the Paysafe Financial Services. This way, it has been associated with some remaining leading services in the world of online payment processing. Through such growth and development, it has turned into a renowned provider for a number of markets.

 You can open a Neteller Account here.

About Skrill

Skrill came about...

... only a couple of years after its contender Neteller, in 2001 more precisely.

Back then, the service was known as Moneybookers, but despite the rebranding, has managed to retain and continuously boost their user base. Nowadays, it operates as one of the top performing services in the world of online payment processing, providing security and convenience that further boost their reputation.

You can open a Skrill Account here.

Neteller vs. Skrill

Over the years, both services...

... have managed to attract a wide range of users from various online marketplaces.

Payment Methods Comparation

Payment method name NETELLER Skrill-Moneybookers
Available accounts 1 account (1;2;3;4;N/A different currency accounts) 1 account (1;2;3;4 different currency accounts)
Available currencies 28 41
One time signup bonus n/a 15 USD Signup Bonus
Account management fees free free
Account unused unused for 12 months: 5.00 USD (or equivalent) /month unused for 12 months: 1 EUR/month
Exchange fees (FX) 3,99% (3.79%; 3,19%; 2,79%; 2,39%; 1.29%) 3.99% (3.79%; 2.89%; 2.59%; 1.99%)
p2p Money transfer
Send money p2p 1.45%, minimum 0.50 USD (1.45% money transfer fee with min. of 0.50USD for Bronze, free of charge for Silver, Gold, Platinum and Diamond) 1.9%, max 20 EUR (1%, max 10 EUR for bronze; 1%, max 2 EUR for above)
Receive money p2p free free
Deposit fees
Bank transfer 2.5% free
Instant bank transfer 2.5% free
Credit card 2.5% 1.90% (1.25%; free; free; free)
Withdraw fees
Bank transfer 10 USD 3.95 EUR (3.95; free; free; free)
Cheque N/A 3.50 EUR
Prepaid card at the ATM 1.75% (1.75%; 1.75%; $6; $6; $6) 1.75% (1.75%; free; free; free)
To merchant site free free
PrePaid Card Net+ Prepaid MasterCard Skrill PrePaid MasterCard
Requirements to order n/a n/a
Fee to order 10 EUR 10 EUR (free)
Membership n/a n/a
Costs for cash withdrawals at the ATM n/a n/a
ATM transaction decline fee n/a n/a
Costs at points of sale free free
Stop payment fee for preauthorized n/a n/a
Online bank statement free free
New PIN N/A free
New prepaid card 10 EUR 10 EUR (free)
Cash withdrawal at ATM limits/24h 1,000 USD (1,000; 1,000; 3,300; 3,300; 3,300) 250 EUR (750;1,500; 3,000; 5,000)
Points of sale limits/24h 2,250 EUR 1,000 EUR (3,000; 3,000; 5,000; 5,000)
Delivery time 2 -10 business days 5-10 business days
Available currencies 28 EUR, USD, GBP, PLN
Validation 3 years 3 years
Cashback and promotions
Promotions none (regular low-prize draws) up to 100 EUR Bonus by becoming Skrill VIP
Additional bonus-programs n/a n/a
Two Factor Authentication Two-step Authentication Skrill Two-step Authentication
Fee to order free app free app
Delivery time right after app installation is completed right after app installation is completed
Money-back guarantee in case of fraud for all NETELLER users for all Skrill customers using the 2-step-authentication
Link to Terms & Conditions https://www.neteller.com/en/policies/terms-of-use https://www.skrill.com/

E-commerce platforms of all kinds include them in their banking options, and what is more, use them as a tool to attract and retain customers to their premises. In this regard, leading online casinos and similar interactive gambling platforms have been as quick to adopt the payment methods to their websites, allowing their player pool to enjoy reliable and widely accessible banking methods.

Still...

... while some tend to use them interchangeably depending on their availability, others tend to stick to one or the other.

If you are left pondering...

... on the best choice for your next online shopping spree, or making the most of your bankroll at your top chosen online blackjack table or slots titles, stay tuned and look through the key features that set them apart from one another.

User Accounts

User Accounts

While both services offer an easy-to-use, interactive layout and rather straightforward account registration process, there are some differences in their approach. Look through the number, types of accounts, as well as some accompanying features you can expect from Neteller and Skrill for a more comprehensive understanding.

Neteller

Neteller will only offer...

... users one account per individual, while some other contenders in the same field of work may be more open to account holders. Nevertheless, this does not limit users drastically, as they are still able to add up to 4 currencies for their account, and make their transactions without any currency conversion beforehand.

Speaking of which, the Neteller service provides users with up to 22 currency options to choose from.

Bear in mind...

... that transactions in currencies other than your chosen ones mentioned above will need to be subject to the standard 3.99% exchange fee. However, as you become an account holder and start making transactions, you are sure to go up the VIP ranks featuring much lower fees among other conveniences illustrated below.

In this regard, it’s important to know that cryptocurrencies have also been added to the list of options as of recently. Bitcoin, Litecoin, Ethereum and Bitcoin Cash are just some of the options, coming at a 1.50% fee for buying and selling crypto with EUR or USD, and a 3.00% fee with all other available currencies.

On a final note, it is recommended that you take note of your Neteller account – after 12 months of inactivity, the company charges account holders USD5.00 a month for maintenance purposes.

Skrill

The same conveniences...

... are available to Skrill users who manage to qualify for a higher ranking on their specific VIP program; otherwise, currency conversion fees are the same – 3.99%.

However...

... Skrill account holders will be able to choose from nearly double the variety, with up to 41 currencies available for payment transactions on this platform. What is more, the fee may vary depending on the purpose of your transactions – 1.99%/2.59%/2.89%/3.79%.

Interested users can open an account for free with up to 4 different currencies just like with Neteller, and should they leave the account inactive for 12 months, a EUR1 monthly fee is deducted from their balance.

Deposits and Withdrawals

Deposits & Withdrawals

Funding your Neteller and Skrill account...

... and alternately, paying for different charges online using these funds is more or less done in the same manner. Users input the basic details of their account and wait for the funds to arrive at their given destination. Here are the specifics for each online e-wallet service separately.

Neteller

The process of sending value into your Neteller account is a fundamental one, in order to be able to use it for other transaction purposes later on. Deposits are performed through a range of options, from regular debit and credit cards, as well as standard bank transfers, through other e-wallets, online and mobile payment facilitation services, to actual cryptocurrencies. All the different ways to fund this account will be subject to a 2.55% fee.

On the other hand...

... using your account to transfer funds to a merchant, bank account or other target account comes at different fees. More precisely, direct bank transfers have a set fee of USD10, while member transfers come at a USD12.75 charge. Paying a partnering merchant through Neteller comes free of charge, while transactions to a money transfer service come with an additional 1.45% fee, no less than USD0.50.

Skrill

P2P payments are free of charge...

... so you will be able to accept funds from other Skrill users without much of the hassle. Alternately, sending funds will see you incur an additional charge (max – EUR20) the amount of which depends on your VIP ranking.

Funding the account through bank transfers is completely free, while using a credit or debit card for the purpose will subject you to a 1.90% fee.

As for withdrawals from Skrill...

... there is a set amount charged depending on the destination account. Hence, withdrawing to your bank account will see users charged EUR3.95, to cheques – EUR3.50 and to prepaid ATM cards – 1.75% of the transferred amount.

Security

Security

This is a top priority in all cases that involve handling finances, and even more so when it is done online. The threat of malicious third parties looking to get hold of your funds, as well as personal information has made many individuals wary of the practice. In order to reassure interested and current account holders in the safety of their data, these services have employed a range of measures.

Neteller

The company has been licensed and authorized...

... by the Financial Conduct Authority of the UK, which speaks volumes of its reliability. Nevertheless, users can see and experience the level of protection they are provided first-hand, mainly by choosing to go with one of the two options.

Aside from the regular account password, these users are additionally able to choose between a dual-factor authentication code and Secure ID. In case they opt for the former, they will get a one-time used code on their linked email or phone number, every time they log into their account. That way, no one else will be able to access their funds, even if they know the Neteller password.

Alternately, Secure ID...

... is a dedicated option that attributes users with a unique 6-digit code used for each signup, both as a form of additional identification and protection.

Skrill

While Skrill was usually more convenient in terms of the actual transaction specifics – currencies, fees – it could be said that they lag somewhat behind in comparison to their contender.

Having this in mind...

... one shouldn’t conclude that users are left without protection; on the contrary, Skrill account holders still have password protection, as well as a dual-verification option. For the latter one, they will need to make a quick download and installation of their app in order to get the code there upon each login. The app further serves its users when claiming refunds and money-backs, which is much more difficult for those account holders that do not use the app.

Physical Card

Physical Card

With all the conveniences of the digital era, both Neteller and Skrill have still identified the need to stay connected to actual land-based venues through standard forms of payment. Hence, each of these providers offers their physical plastic card for brick-and-mortar purchases and ATM withdrawals, each with a set of features.

Net+ Prepaid MasterCard

Neteller account holders can additionally access their funds through the dedicated plastic prepaid card linked to it. It is issued by MasterCard, and thus accepted as a payment method at all locations where MasterCard is valid, leaving a range of options at users’ disposal.

You can apply for the card...

... for free, and should expect to have it in your hands in 2-10 business days depending on shipping and handling. Speaking of this, the company does charge a fee for such delivery – a single charge of USD10. Other than that, the standard currency conversion fee of 3.99% is also applied when using the card at ATMs or POSs that have a currency different from the ones accepted at the account.

Still, bear in mind that you can link up to 5 Net+ Virtual Prepaid MasterCard accounts to a single card for free, and even more at a charge of USD3/EUR2.5/GBP2 per account.

Skrill Prepaid MasterCard

The Skrill plastic prepaid card solution...

... is also issued by MasterCard, meaning it is just as widely accepted at local POSs. What is more, payments made through it, online bank statements and even new PIN requests are also free of charge; all you have to do is wait for the support team to process your request and send you the card within 5-10 business days time.

When it comes to using it...

... there are some limits depending on your country of residence, specific merchant and the likes. More specifically, daily ATM cashouts are limited to EUR250 across most users, while some may experience fees as high as EUR700/1,500/3,000/5,000. Spending funds at POSs is limited to EUR1,000 a day, although some merchants may have an extension as high as €3,000 and €5,000.

An added inconvenience is that the Skrill card comes with the following currencies only – EUR, USD, GBP and PLN, while Net+ Prepaid is much more varied.

VIP User Benefits

VIP User Benefits

A great part of the user experience is the range of benefits that are offered by the service simply for choosing to trust them over their market competitors. Neteller and Skrill both take this honour seriously, and each packs a full user ranking with specific perks and promotions.

Neteller

Neteller users become a part of the specific VIP Loyalty program as soon as they register for an account. Depending on the amount they have gone through using the e-wallet account, these individuals can rank at one of five tiers – Bronze, Silver, Gold, Platinum and Diamond.

In this regard...

... you will need to transfer at least $10,000 a year to reach the Bronze level, $50,000 for Silver and $100,000 for Gold, while $500,000 will need to go through your account in a single year to reach the Platinum level. Ultimately $2,000,000 qualifies you for the final tier; still, as soon as you are part of the VIP pool, you will start feeling the difference in benefits and perks, even if you can’t reach the highest ranks.

Skrill

Skrill users are no less privileged – their VIP Loyalty program distinguishes between four tiers – Bronze, Silver, Gold and Diamond. The amounts you would need to deposit into your account for qualification are slightly lower, but so is the time limit (a yearly quarter).

For Bronze, users need to deposit a minimum of €6,000, €15,000 for Silver, €45,000 for Gold and €90,000 to rank among the Diamond VIPs.

While it may seem demanding...

... this practice is bound to pay off, as users experience much lower fees, speedier transactions and greater spending limits or even none at all.

Conclusion

As it stands...

... Neteller and Skrill remain worthy competition to each other in the world of online payment processing. They mostly differ in fee policies and specific approaches to the same services, but ultimately manage to attract enough transaction traffic to sustain themselves quite well.

All it takes for you to do is determine the precise use you would have of your respective Neteller/Skrill account and choose the one whose features suit you better.

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