NetTeller question

Ok guys/girls, havent got an account with them, but I'm in the process of doing it.
Looked at their website, but as Im stupid, i didnt take much in. Hope someone can help me out?
My understanding is that NetTeller is a 'floating bank-account' on the net, I can take money out of somewhere, leave it in NetTeller, then when I find another site I like, I can take some money from NetTeller and deposit it simply to that particular site. Is that how it works?
If so, when and where do I get charged? Do I need to open it with a credit card, debit card, bank account, etc?
Reason being, I've noticed on the US players banned sites, that I still have money at 2 banned sites that I dont really use. Not a lot of money, but enough to play poker somewhere else.
If someone can help this idiot, I'd be grateful.
Thanks,
KD
PS Any other important info Ive forgot I would be grateful.

My understanding is that NetTeller is a 'floating bank-account' on the net, I can take money out of somewhere, leave it in NetTeller, then when I find another site I like, I can take some money from NetTeller and deposit it simply to that particular site. Is that how it works?

Yep, that is pretty much how it works!

If so, when and where do I get charged?

For most Deposits to poker sites, the poker site covers the fee! When you withdraw Back to Neteller there usually is no fee either!

Do I need to open it with a credit card, debit card, bank account, etc?

Here is what I have KD. I opened a seperate bank account, at a different bank from my "personal" money. I use that account to "fund" my Neteller account. There's step by step instructions to link your account to Neteller.



Reason being, I've noticed on the US players banned sites, that I still have money at 2 banned sites that I dont really use. Not a lot of money, but enough to play poker somewhere else.

Well, here is the problem with this one. Most poker sites will only let you withdraw money the same way you have deposited it. So on those 2 sites, they probably will not let you withdraw it to neteller. So, to get the money, you will probably have to withdraw a check (Bank Draft) and then use that money to fund your poker another way!

Good Luck!!

thanks Sammy, thats what I needed to know. Could I create an account by starting it with a withdrawal from a poker site, or do I need to properly fund it first? (or did you answer that in the last bit?)
Go Tigersssssssssssssss!

You'll actually have to go to Neteller to open an account first. You do NOT need to fund it first. And if the poker site you are on will let you, then yes, you could withdrawl from there to neteller.

Remember though: Most poker sites will only let you withdraw money the same way you have deposited it.

ok, thanks for the HU

I have a Neteller account, and I never keep money in it, but I use it all the time to deposit/withdraw to poker sites.

I use the "InstaCash" feature. This requires that you register your checking account with Neteller. What happens is, when you go to deposit at the site of your choice, choose the "InstaCash" option--the money you deposit will go right out of your checking account using Neteller as a sort of go-between (there's no fee for this either). EDIT: This option does take a few days to show up on your checking account, as Neteller basically "advances" this to you until it clears your bank.

When I withdraw funds from a site, it goes to Neteller, where I either use to deposit to another site (again, no fee), or move it to my checking account. I believe there is an EFT option, where Neteller wires the money to your bank account free of charge.

The fees come in when you make a deposit using the Neteller site--i.e. fund it before hand with a credit card or checking account. So don't do any funding using the Neteller site...just use InstaCash.

I hope that makes sense...let me know if I can clarify anything for you.

I do the same thing JQ does - have never had any problems or been charged any fees.

They will initially allow you up to $750 - then to get more all you have to do is identify a small deposit they make to your checking account. It takes a few days but they increase your limit to some huge amount after that.

One nice thing that NETeller has is their own ATM card. Sometimes it takes time for your bank to clear their deposit but with the card you can have access to your money immediately. They charge a nominal fee of $2 to load the card, (sorta like an ATM fee), but most banks don't charge you to withdraw from their cards. Just make sure you can access the network they use. I believe they are part of the pulse and star networks.

Most poker sites will only let you withdraw money the same way you have deposited it.

I have gotten around that on a few just by mailing support. Try that before you take it as law.

thanks Jim, will look at this sometime next week when Im not working.