hi guys and gals just a quick query as i never use them and you guys are probably better versed on this stuff than randomly trawling a website lol.
at the moment i only deposit using a debit card and after withdrawel its in my bank next day for example, if for instance i use paypal or netteller would it go imediatly into that account?, then from those accounts can i transfer it imediatly into my bank account thus bypassing the bank clearing system or does it still have to clear in the bank say next day? hope this is clear
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Neteller does bypass the bank in a way, and you can verify a bank account and then withdraw from Neteller to said bank. Unfortunately, Neteller to bank takes about 7 days and there is a charge of £5. Another drawback is that unlike a bank, money in Neteller is NOT covered by the Investors Compensation Scheme, so you rely on Neteller to have a means (which they do, a trust arrangement) to protect client balances from any failure of Neteller.
Neteller is really designed for those who play regularly, or who deposit sums large enough that the banks repeatedly block the transactions for a fraud check where you have to wait for them to phone you to verify it was a genuine transaction.
If you are playing at places that are able to deliver next day withdrawals to your bank via your card, then there is little to be gained by using a service like Neteller. It is true that once paid by a casino, the money arrives in a Neteller account straight away, rather than the next banking day.
Another downside to using debit cards has been reported though, and it has been that applications for loans have been refused after gambling transactions have been seen on the bank statement. If this is a concern, using Neteller will make it less obvious during a loan application, but opening an account with a different bank solely for gambling via debit card should have the same effect, just don't use these statements when a loan application asks for 3 months worth of bank statements.
Overall, Neteller (and the other one, Skrill) will tend to charge for services that we are used to getting for free from the bank, such as ATM withdrawals from any bank's ATM (not those ones that are not run by banks that you see in the corner shop, they charge anyway). You can get a Net+ card, like a pre paid card, that will allow you to use your Neteller funds to pay in shops for free. Unfortunately, the Net+ card has a habit of suddenly being "unavailable" due to the main Neteller service being down for maintenance, which can be embarrassing if one is at the till ready to pay for something.
