What is NETeller InstaCash?
NETeller was once the world’s largest processor of online gambling transactions until 2006 when the US government decided that they were breaking the law. Since then they have completely reformed their business and only chosen to deal with poker sites that are deemed to be fully legal and licensed. NETeller is owned and operated by Optimal Payments PLC which is a publicly traded company on the London Stock Exchange.
InstaCash is NETeller’s bank transfer service that allows users to deposit money into an online poker site directly from their bank account. Users prefer InstaCash over credit or debit cards because they are able to avoid interest fees or any questions over available funds. Additionally, once a NETeller account is set up for InstaCash it is also set up to deposit funds back into the user’s bank account.
Who can use InstaCash?
NETeller and InstaCash are available for users throughout the world as long as they don’t live in the United States or Canada because of the current murky legal situation surrounding poker in these countries. As soon as poker’s legal situation is cleared up in these areas it is foreseeable that NETeller will return to the US and Canadian markets, but as of now they are not a viable option.
Anyone with a bank account can sign up for a NETeller account and begin setting up an InstaCash account.
Setting Up A NETeller Account
NETeller is completely free to join and all users with a verified bank account will be able to use InstaCash. To verify your account you will need to supply NETeller with your bank account information including the routing number and account number. After NETeller has this information they will make a small deposit into your account which you can then use to verify your account. Once this is completed your InstaCash account is instantly activated and you won’t have to go through this process again.
InstaCash Fees
The reason that many poker players prefer using NETeller’s InstaCash service is because of the fees associated with it or lack thereof. Making a NETeller InstaCash deposit from your account would normally cost you an 8.9% fee of the deposit amount, but when poker players make an InstaCash deposit via their poker website most poker sites will cover this fee for you thus making your deposit free. To do this just make sure you enter the cashier area of your favorite poker site and select the InstaCash option for deposit. Another great thing about InstaCash is that funds are available instantly to play poker with despite the fact that this transaction may take two to four days to clear your account.
NETeller has a history in the gaming industry as one of the very best payment processors in the industry. Customers love NETeller because of their top level security and confidentiality as well as their quality customer service. Their best feature is probably InstaCash which is preferred by poker players across the globe. InstaCash poker sites use a NETeller account that is linked to a player’s bank account to deposit funds into the player’s poker account. This is a preferred method of deposit for many players because of the reliability of InstaCash.