Neteller vs Skrill
When choosing a payment method at an online casino, you may be wondering about the differences between Neteller and Skrill, and the pros and cons of each method.
Ultimately which of these e-wallets is most advantageous to use will depend on your individual circumstances, such as where you are from to the way you plan to fund your account.
Consider the following factors at a minimum, and don’t forget to check out the Skrill and Neteller VIP programs to find out if you qualify for the significant cost savings each program offers.
Note: The information contained here is based on a comparison of personal accounts for both Neteller and Skrill.
A Brief Introduction to Both
Both Neteller and Skrill are actually owned by the same company, Optimal Payment Plc. Neteller bought Skrill in 2015 for 1.1 Billion Euros. That said, there are still some fairly significant differences between them.
Skrill has been in the international money transfer business since 2001. It was formerly known as Moneybookers.
Neteller has been online since 1999 and is one of the best-established e-wallets online.
Sign Up Process & Verification
There isn’t any significant difference between the two when it comes to registration. You will be asked for your personal details, and it is all pretty straightforward and streamlined. You will be able to open account basically instantly.
Note that no matter which e-wallet you choose to use, at some point you are going to be asked to verify your account. This can be done by sending a valid government issued ID and proof of address such as a utility bill.
In both cases, verification allows you to unlock higher transaction limits.
Neteller vs Skrill – Fees
There are some significant differences between the two when it comes to fees. We have ordered these according to category:
Deposits
| Payment Type | Neteller | Skrill |
| Bank Transfer | 3-7% | 0% |
| Credit Card | 1.9-4.95% | 1.9% |
| Bitcoin | 1% | 1% |
There are other fees for alternative payment methods such as transferring from other e-wallets. Check the Neteller and Skrill sites for further details before using these.
Withdrawals
| Payment Type | Neteller | Skrill |
| Bank Draft | 7.50 – 25.00 € | N/A |
| Bank Transfer | 7.50 € | 5.50 € |
| Money Transfer | 1.9% max (20 €) | 5.50 € |
| Credit Card | N/A | 7.5% |
Currency Conversions
Both are evenly matched if you have to convert one currency into another in that they charge 3.99% on top of daily exchange rates.
Sending Money to Gambling Sites
Neither Skrill or Neteller charges any extra fees for sending money to online casinos and/or sportsbooks, however both make clear that some card issuers may do so, and this is beyond their control. Check with your bank or card issuer to check if this is the case.
Neteller vs Skrill – Safety & Security
Both Neteller and Skrill take security and safety extremely seriously. They are pretty much an even match in this department, as both have dedicated teams working 24/7 to stop fraud and data breaches, and both use encryption which makes them pretty much impenetrable digital fortresses.
Neteller vs Skrill – Pre-paid MasterCards
Both Skrill and Neteller offer Mastercards for qualifying members. These can allow you to spend your funds as if you were using a debit or credit card.
The Skrill Mastercard is available in four currencies – Euros, GBP, USD, and PLN. While paying in shops and receiving cash are free, there are some usage fees including a 10 € annual fee, 2.49% on foreign exchange, and a 1.75% ATM fee.
The Neteller Mastercard is known as the Net+ card and has all the same benefits as the Skrill card. There are also some fees associated with using a Net+ card, including 2.95% foreign exchange fees, a 2.99 € fee per month, and a 3.95 € fee per ATM withdrawal.
Available Countries
Rather than mention all of the countries the services are available to in each case, it is probably easier to cover the countries which are banned/restricted. If you don’t see your country on this list, you should be good to use whichever you choose.
Skrill
Afghanistan, Cuba, Eritrea, Iran, Iraq, Kyrgyzstan, Libya, Myanmar, Nigeria, North Korea, North Sudan, Somalia, South Sudan, Syria, Yemen.
Neteller
Afghanistan, China, Cuba, Eritrea, Iran, Iraq, North Korea, Kyrgyzstan, Libya, South Sudan, Sudan, Syria.
Note that in both cases, due to changes to United States financial regulations, there are restrictions regarding international money transfers to and from US bank accounts.
Final Verdict
Which e-wallet is best for you will depend on your circumstances, but considering the above factors, Skrill comes out on top as far as cost is concerned.
You will be fine with either, but we feel Skrill edges it. There are lots of benefits to using e-wallets at online casinos, and Skrill should be your e-wallet of choice.
