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Neteller Malaysia – How to Open an Account and Deposit Guide

In this guide, we will teach you out about using Neteller in Malaysia and how to use it for playing at an online casino or forex trading.
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Author: Andrew O'Malley

Last Updated: June 26, 2020

In this guide, you will learn about using Neteller in Malaysia, how to add funds to your Neteller account and how to then use the funds when trading forex, placing online sports bets or playing at an online casino.

Neteller has been around since 1999 and has developed into one of the best online payment methods around. It allows you to protect sensitive financial information when making online transactions. Neteller is also extremely easy to use and it has a competitive fee structure.

    Why use Neteller?

    Neteller has been around since 1999 and it has been a useful tool for countless online casino players across the world ever since. It has a great reputation in the space and it gives great peace of mind to those who use it as a payment method.

    Protect Sensitive Financial Data

    If you are using an online gambling site, you may have concerns about the way they deal with your sensitive financial data. If you are using a credit card or debit card, you are directly giving this information to the platform. You then have no control over how the site protects this data, potentially opening you up to data leaks.

    With Neteller, you have an extra layer of security as you are not giving your card details directly to the online casino. Instead, you load funds onto your Neteller account directly and then simply use your Neteller address and password to add funds to an online gambling site. Most casinos don’t cater to withdrawals via debit or credit cards either.

    Ease of Use

    If they do, you can often be waiting up to five business days for these funds to process. With Neteller withdrawals, you will usually have this withdrawal processed and the money in your account within 24 hours, often within a few hours.

    There is also a prepaid Net+ MasterCard that you can get from Neteller. This will act just like a normal debit card would when buying goods and services, as well as making ATM withdrawals. For most account holders, this card will be free to get.

    Finally, Neteller has a competitive fee structure, so you avoid excessive credit card processing fees and bank wire charges.

    Step 1: Open a Neteller Malaysia Account

    Go to Neteller.com and sign up for a free account. The only info you need to provide is your full name, email address and a password. A required step when opening a Neteller account is to verify your identity. This requires you to scan through a copy of proof of ID and address. These documents will usually be approved very quickly. You will get an email confirming that they have been approved and you will be ready to proceed with the next step.

    Step 2: Fund Your Neteller Account

    You can add funds to your Neteller account by using a credit card, debit card, Bitcoin and bank wire transfer, as well as through popular e-wallets other than Neteller like PayPal and Skrill. Firstly, select your country of residence and your preferred account currency.

    Additionally, you will asked to provide personal information such as date of birth, gender, address and phone number. After doing so, you will receive a text with a confirmation code to confirm your identity. 

    In order to keep your account secure, you will need to create a 6-digit secure ID. This will be used when you are logging into your account or when you are sending or withdrawing money through Neteller.

    Then simply choose your preferred payment method when you select the ‘Money In’ menu option. You then simply enter in the details for this chosen payment method. For a credit card deposit, it is the same as making any other type of online purchase.

    Step 3: Select Your Neteller Casino or Forex Broker

    Now that you had added your funds to your Neteller account, you will be able to get started trading forex or playing your favorite casino games. While there are many other ways in which you can use Neteller, these are two of the most popular activities it is used for.

    1. 22Bet – Generous Welcome Bonus

    The Online Casino of choice for Malaysia is 22Bet Casino. It offers both sports betting and online casino games to players. Many of the best software developers in the space provide titles, such as Microgaming, Red Tiger Gaming and Elk Studios. In total, there are more than 1,100 different casino games to choose from. There is also a live dealer casino that has a selection of different options to try out, with varying betting limits for these tables. Finally, there is a great welcome deposit bonus for new signups, allowing you to get your new account off to a fast start.

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    2. eToro – One of the Leading Forex Trading Platforms

    The forex broker of choice for Malaysia is eToro. This is a platform that has been around since 2007. It is well-respected around the world, including in Malaysia. Your experience throughout the process of using eToro will be top-quality. You can sign up for an account in a matter of minutes. eToro offers plenty of options for beginners and experienced forex traders alike. There is a social trading experience that allows beginners to learn the ropes. There is also a wide range of financial instruments, tools and analysis options for advanced traders.

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    Step 4: Fund your Casino or Forex Broker Account

    Now that you have chosen an online casino or forex broker, you will be ready to sign up for an account and add funds to it. Using Neteller, this process is quick and easy. 

    For 22bet Casino

    When signing up for a 22Bet Casino account, you will need to enter information such as your full name, country of residence and preferred currency. Then you will be sent an email that contains a link to activate your account; this must be done within 72 hours. 

    When you have done so, you will be ready to add funds by clicking ‘Deposit’. Ensure that you choose any relevant bonus when making this first deposit. 

    You then need to click on the Neteller option and enter how much you wish to deposit, your Neteller username and your secure ID. When you are happy, click ‘Confirm’ and the funds will be almost instantly credited to your account.

    For eToro

    To add funds to your eToro account, select the ‘Deposit Funds’ menu option. Once you have your first approved deposit on eToro, you will then be able to use Neteller for all future deposits. To add funds through Neteller, simply enter how much you wish to deposit, your Neteller username and your secure ID. When you are happy, click ‘Confirm’ and the funds will be almost instantly credited to your account.

    Step 5: How to Withdraw Your Funds

    How to Withdraw Your Funds to Neteller

    If you have successfully managed to make some money through playing your favorite casino games or through your trading, you may want to withdraw some of it back to your Neteller account. This process is just as easy as adding funds to your account in the first place.

    For 22bet Casino

    Go to your account settings on 22bet Casino and select ‘Withdraw Funds’. Simply select Neteller as your preferred method of withdrawal. You will then specify how much you want to withdraw from your online casino account and enter your Neteller account number. Once you click confirm, the withdrawal request will be sent.

    The process is as simple as that. When withdrawing funds to Neteller from 22Bet Casino, the funds will usually be in your Neteller account within 24 hours, usually within a handful of hours after making the request.

    For eToro

    To withdraw funds from your eToro account, select the ‘Withdraw Funds’ menu option. You will then be shown how much your withdrawal balance currently is and you can decide how much you want to withdraw.

    Then simply choose Neteller as your withdrawal method and enter your Neteller account ID. Once you click ‘Confirm’, this withdrawal request will be processed. eToro will approve this transaction and your funds should be in your Neteller account then within 24 hours at most.

    Step 6: How to Withdraw From Neteller to Your Bank

    Once the withdrawn funds have hit your Neteller account, you will be able to do with them what you please. You may want to keep them in Neteller for future transactions or you may want to withdraw them from the account. All you need to do is go to your account on Neteller and choose the ‘Money Out’ menu option.

    You will have a selection of different bank transfers, Visa, MasterCard, e-wallet and Bitcoin options. Some banks in Malaysia will not be eligible to receive a withdrawal from Neteller, so directly check with your bank if you are looking to use this option.

    Simply enter how much you want to withdraw and enter the relevant details for transferring these funds to the given destination. This withdrawal request will process quickly, with the length of time needed for the funds to hit your relevant destination depending on the given payment provider you are using. Withdrawing to an e-wallet is the fastest option, while card and bank transfer withdrawals often take 3-5 business days.

    Neteller Fees & Other Expenses

    Most popular deposit options will have a 2.5% fee when adding funds to your Neteller account. When you are withdrawing funds from your Neteller account, there will be no fee if you are sending the funds to another e-wallet (unless that e-wallet has its own fees to consider for receiving payment). There is a nominal fee for making a bank transfer, usually being in the range of $10.

    If you are making a money transfer via a credit card or debit card, there is usually a 1.45% fee that you have to consider, with the minimum charge being $0.50. Finally, if you use a Net+ Prepaid MasterCard, the fee will range from 0 to 1.75% depending on the size of the withdrawal.

    Currency Exchange and Other Fees

    If you are exchanging currencies, there will be exchange fees that will be part of this process. Usually, Neteller adds a 3.99% rate to the daily interbank market rate. This drops to as low as 1% if you are a VIP member of Neteller. 

    There are charges in place if you have been shown to provide untruthful or inaccurate information to Neteller. There is also a fee for reversing incorrect transactions, for making chargebacks and for trying to make transactions that are prohibited.

    Conclusion

    As you can see, the process of using Neteller to add funds to your online casino or forex broker account is extremely easy. You can get up and running in just a few minutes. This offers you great flexibility and an extra layer of safety when you are making online payments.

    This guide walks you through the entire process from start to finish. It gives you a proper insight into the steps that you need to take to first open a Neteller account, add funds to it and then move these funds onto your online casino or forex brokerage account. Then the process of withdrawing funds back to Neteller is even easier. It is no surprise that Neteller is one of the most popular online payment methods available today.

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    Our Recommended Neteller Malaysia Forex

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    eToro Malaysia

    FAQs

    Is there a Neteller mobile app?

    Yes, there is a dedicated Neteller app for both iOS and Android devices. You can download this from the Apple App Store of the Google Play store respectively. You can complete transactions as normal through the mobile app, but you cannot upload your verification documents.

    Can you send money to other Neteller accounts?

    Yes, you can instantly transfer funds to another Neteller account no matter where in the world the account holder may be. Simply enter the email address of the person you want to send the funds to, select the currency and the amount you want to send.

    How do you verify a Neteller account?

    After signing up for an account, you will want to verify the account straight away. You need to upload a scan of some form of photo ID, such as a passport or a driving license. You also need to provide proof of address, such as a utility bill or a bank account statement that is dated within the past three months. You can use your computer webcam to scan these documents if needed.

    Is there a fee for not using your Neteller account?

    If 12 months have gone by and you have not used your Neteller account and there is still money in this account, you will be charged a monthly inactivity fee of $5. You will not be able to go into a negative balance through these inactivity fees.

    How long does it take to add funds from Neteller to an online casino or a forex broker?

    For the most part, your funds will be credited to your respective online casino or forex broker account almost immediately when you are using Neteller. Simply enter how much you want to deposit along with the key Neteller account info and you will be good to go.

    How long does a Neteller withdrawal take?

    This will vary depending on the online casino or forex broker you are using. For example, some platforms may take up to 24 hours to process your withdrawal request for all payment methods, especially if you are a new customer. However, once this request has been approved, your funds will often hit your Neteller account in a matter of a few hours.

    All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
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    Andrew has been writing about the gambling industry for more than five years, covering everything from sports betting to casinos and poker. With the sector constantly evolving, he loves nothing better than staying up to date with the latest movers and shakers in the space.