Skrill, Neteller and Paysafe General Information
On this page you will find all that you need to know about Skrill, Neteller, and Paysafe. These are three of the largest and most commonly used online monetary systems used with online gambling. Here we will cover a brief explanation of each, as well their history, and where they can be used.
When it comes down to the way the act – all of these systems are fundamentally similar. Each of the three of these act as online wallets where a user can both deposit and withdraw money for use for various websites and products.
What is Skrill?
Skrill, formerly known as Moneybookers, is a e-commerce business which lets users transfer money through the internet. Former in 2001, Skrill quickly grew into one of the largest and most popular online money systems available. Part of the reason for this popularity, as is similar with the rest of the systems in this article, is that Skrill could be used for online gambling. This is important because the largest name in the business, Paypal, had a period where they dropped out of the gambling finance game. The gap which it had left was jumped on by a few major systems, Skrill being one of them.
In March of 2015 Skrill was purchased by Optical Payments, the company behind the rival system called Neteller.
What is Neteller?
Neteller, similar to Skrill, is an e-money system which is popular in the world of online gambling. Launched in 1999, Neteller started in Canada but was moved to the Isle of Man in 2004. Much like Skrill, Neteller covered the gap left by Paypal when it came to the online gambling market. At one point Neteller was responsible for processing around 80% of the worlds online gambling money. Certainly an impressive feat.
Despite having such a huge part in the market, Neteller struggled as it entered the second decade of the new millennium. This issue has somewhat subsided since their parent company gained a greater market share with the acquisition of Skrill.
What is Paysafe?
The oldest of the three systems we are looking at, Paysafe was founded in 1996. Based in the Isle of Man and regulated in the United Kingdom, Paysafe now owns an enormous share of the online finance game.
Their premier product, the Paysafecard, acts much in the same way as the other two system. Simply put – it is a type of online wallet and credit card system. While this can be used in many sites, where it matters to us is online gambling.
Security Systems and Safety
As you would expect, these systems use a number of features to protect their users. Each of these now use similar systems. This is a case of the parent company taking the best and most viable methods of online security and applying them across all three products. These include two of the main measures in place for modern online security.
- High levels of encryption – here they submit to the highest standards of Payment Card Industry Data Security (PCI-DSS Level 1). This means that the user's data is unreadable even when intercepted.
- Two-Factor Authentication – This provides an additional level of security. It does this by requiring users to enter a code sent the user's phone, in addition to standard login details and passwords.
Additional Security Information
These are just a few of the many systems in place to protect against fraud and theft. This it not say that the system is perfect, however. As with any online system, these require that the user keeps their end of the system secure in order for their systems to truly work. This means that if you use these systems, especially if you have a lot of money in that account, you should also be sure that the rest of you computer system is secure. This means regular virus and malware scans.
This is generally good advice for anyone who uses online gambling services, as if you have a lot of money tied up in these services you could possibly lose a lot.
For malware you can head on over to Malwarebytes. Their free program is one of the best when it comes to removing a variety of software which can open the door for hackers and thieves.
When it comes to virus protection and management you can head over to Avast and grab their free virus scanner. Your computer, and your wallet, might end up thanking you.
Not Supported Countries
While the systems attempt to cover as much as it can, in terms of locations, there are areas where it is no supported. This is usually because of the laws of the country, or sanctions placed against them.
Exactly which countries are supported changes depending on the exact type of system which is used, and the shifting economic and political climate. For more information on where these can be used check out the Skrill website, the Neteller website and the Paysafe website.
How does it Work / What do I need?
In general terms the user will need a bank account, though a credit card can also be useful.
To sign up for Skrill the user must first go to the website and use a valid email address and user information in order to generate an account. This includes name, address and a valid phone number.
There are currently five main methods of placing money into a Skrill account. This includes bitcoin (1% fee), manual bank transfer (free), credit or debit card, Neteller account (3% fee) and by Paysafecard (7.5% fee).
Signing up for Neteller requires an email address, password, currency selection and an address and valid phone number. Once this is filled out the user will be given a 5 digit secure ID, which should be memorised.
There are a total of ten different ways to deposit money into a Neteller account. These ways and their processing fees are as follows:
- International bank transfer – Free
- Bitcoin – 1%
- VisaCredit – 1.9%
- VisaDebit – 1.9%
- VisaElectron – 1.9%
- POLi – 2%
- Maestro – 2.25%
- Mastercard Credit – 2.25%
- Mastercard Debit – 2.25%
- Skrill – 3%
Signing up for a Paysafecard requires personal information, location information and an email address and telephone number for account confirmation.
As Paysafecard requires what is effectively a prepaid credit card purchase from a live store they have no method of direct deposit. Instead, users who have signed up to this site can use the website to search for nearby physical stores where they can purchase a Paysafecard. When this purchase is complete the user can go online to the Paysafe website and enter the pin code on their card to add the card to their online account.
Where can I use these systems to gamble?
Luckily these three methods are among the most popular gambling finance systems online. This means that the majority of gambling websites work with at least one of these systems. If you want a more direct list then you can check out the list below for some supported websites, and links to our reviews of those sites.
Stay safe, and good luck!