Digital wallets are becoming increasingly popular for online casino deposits and withdrawals, and two of the most commonly-used solutions are Skrill and Neteller. Both offer a wide range of benefits when gaming, and many people often mistake them for being identical.
But while Skrill and Neteller have a lot of similarities, they also differ in numerous ways. So, how many differences exist between these two Paysafe-owned services?
If you’ve found yourself asking the above question, keep reading. We’re about to show you whether or not Skrill and Neteller are drastically different when using them for online casino payments.
What is Skrill and How Does it Work?
Skrill is a digital wallet solution with a presence in hundreds of countries around the world. The solution was founded in 2001.
Since it entered the market, Skrill has generated hundreds of millions of Euros in revenue.
Using Skrill is pretty straightforward. For its digital wallet, you can deposit money from your main bank account in your preferred currency. Once you’ve done that, you can choose Skrill as a payment option at your favourite online casino – before depositing your funds into your account.
What is Neteller and How Does it Work?
Neteller is a little older than Skrill, having been around since 1999 and in operation mode since 2000. Unlike Skrill, which has had its headquarters in the UK for its entire existence, Neteller was initially founded in Canada.
Neteller was one of the original pioneers in accepting online gambling transactions, with plenty of services tailored towards this market. Like Skrill, the service is available in multiple countries throughout the world – including Ireland.
To use Neteller for online casino payments, the process is identical to Skrill. After depositing money into your digital wallet, you need to go to your website of choice and choose Neteller as your payment method – before deciding on how much you wish to add to your account.
The Differences Between Skrill and Neteller
Before we look at how similar Skrill and Neteller are, let’s take a look at their most prominent differences. We’ve listed some of the main things to keep in mind in the subsections below.
Skrill’s Fees Vary from Neteller
While most online casino websites won’t charge you a fee for making deposits and withdrawals, you need to keep in mind that your payment method of choice might. Both Skrill and Neteller have a broad selection of fees for various areas, but they’re not entirely identical.
As an example, you’ll pay a 1% surcharge to deposit into your Skrill account. But for Neteller, that percentage rises to 2.5%.
While many of Skrill and Neteller’s fees are similar, it’s worth checking before committing to one – and assessing each against your personal needs.
Transfer Times Can Vary
Time is of the essence when it comes to online casino payments. With both Skrill and Neteller, you can deposit into your account with minimal delays. However, things begin to differ when the time comes to withdraw your winnings.
With both Skrill and Neteller, you’ll find that your withdrawal requests are processed within three working days. However, for the funds to appear in your bank account with the latter, it will take between two and six hours in most cases.
If you use Skrill, on the other hand, you’ll typically have to wait 24 hours.
The Similarities Between Skrill and Neteller
It’s not hard to see why Skrill and Neteller are often seen in the online casino sector as one and the other; both of them have a lot of things in common.
The main similarities between Skrill and Neteller for online casino payments are listed below.
Owned by the Same Company
Both Skrill and Neteller operate under the umbrella of financial services giant Paysafe. So, while both entities offer something a little different to the market, they both form part of the same larger mission.
Skrill was acquired by Paysafe in 2015 when its owner was known as Optimal Payments. On the other hand, Neteller formed part of the original Optimal Payments brand and has continued to be an essential brand for Paysafe to this day.
Both Skrill and Neteller Offer Similar Loyalty Programmes
When researching online casinos and picking a payment method, one of the first things that many players will look for is whether or not they can use a loyalty programme. And with both Skrill and Neteller, this is indeed the case.
Skrill and Neteller have a loyalty scheme called Knect, with a separate one for each business. With Knect, players can earn points by moving their money around within their accounts. Once they have enough, customers can exchange these points for rewards.
To use Knect, you don’t necessarily need to deposit and withdraw with online casinos only to get points.
Skrill and Neteller also have their own VIP rewards programmes for individuals who process higher volumes through their accounts. These are tiered, with Silver, Gold, and Diamond levels available.
The Skrill and Neteller VIP rewards programmes are based on how much individuals transfer every quarter. To get on the first level, you need to transact a minimum of €15,000 per quarter.
Both Skrill and Neteller Are Widely Accepted at Online Casinos
As you might expect from a company that was one of the first online gambling payment solutions, a whole host of Irish online casinos – and betting sites around the world, for that matter – accept Neteller as a deposit and withdrawal method.
Similarly, many online casinos in Ireland will allow you to deposit from and withdraw into your Skrill accounts. If a website accepts players using Neteller, you’ll most likely be able to use Skrill as well.
Neither Skrill nor Neteller is allowed to process gambling transactions in a selection of countries because online gambling is illegal there. However, Ireland is not one of them – so you don’t need to worry about this.
Skrill and Neteller Have Showcase Offers for Online Casino Websites
Besides their loyalty schemes, both Skrill and Neteller also showcase welcome offers on their websites. You’ll find offers from a wide selection of casinos, along with plenty of variety to ensure you find something that meets your tastes.
Some of the offer kinds you can take advantage of include free spins and matched bonuses. And besides gambling, you also have the opportunity to enjoy offers in several other categories – such as shopping and games and fantasy.
Skrill vs. Neteller: Plenty of Similarities for Online Casino Payments, But Also Some Differences
Both Skrill and Neteller are reliable online casino payment options, and regardless of the one you choose, you’ll have an easy-to-use solution for deposits and withdrawals. At first glance, it seems like neither has that many similarities compared to one another. However, the truth is a little different if you look at a more granular level.
Skrill and Neteller have similar loyalty schemes, but the time you need to wait for withdrawals to appear in your bank account will differ. You’ll also need to pay different fees for some transactions, while other differences come into play too.
It’s a good idea to research both Skrill and Neteller beforehand, but the truth is, as an Irish casino player, you won’t notice many – if any – differences.