Here at Find My Casino, we receive several emails a week asking us why at some online casinos if you deposit with Skrill or Neteller you cannot claim the welcome bonus.
These players want to know why they can claim offers if they deposit via methods such as Visa, Mastercard, Maestro, Paysafecard and even PayPal, but not the two most popular eWallets.
It’s a good question, and one that most online casinos are a little reluctant to answer when asked by players who feel they are missing out on an offer simply because of the method they use to deposit.
To answer the question, we spoke with the manager of a popular UK-licensed online casino to find out why they don’t allow players to deposit with these eWallets and claim a welcome offer.
We also spoke to Lorenzo Pellegrino, CEO of Skrill and Neteller, to learn more about the pros and cons of using eWallets when playing at online casinos.
First things first, let’s look at why some casinos do not allow players to deposit with Skill or Neteller and claim a welcome offer.
A manager from a popular UK online casino told Find My Casino:
The main reasons why we don’t allow Skrill and Neteller welcome offer deposits is because of the potential for bonus abuse as well as some of the extra due diligence checks we need to carry out.
In terms of bonus abuse, historically we have had situations where players have formed syndicates and bonus abuse rings and used eWallets to transfer funds between their eWallet accounts.
Players create multiple online casino accounts, pool their resources, take several bonuses from the shared funds and then use these bonuses to play a range of online casino games.
Due to the more anonymous nature of eWallets it can be harder for operators to verify user IDs and check source of funds. This makes identifying and tackling bonus abuse more difficult.
What’s more, UK-licensed online casinos must also meet strict anti-money laundering (AML) and fraud prevention requirements before a player can deposit and claim a bonus offer.
While this is still done for those using Neteller and Skrill, the process is a little more straight forward for those depositing via Visa, Mastercard and bank transfer.
Why? The online casino manager explains:
Visa and Mastercard are linked directly to bank accounts so anti-money laundering and source of funds checks have already been carried out and verified.
Of course, we do our own ID, AML and source of funds checks but it is much easier to do this when the payment method is directly linked to a bank account.
Neteller and Skrill do carry out their own ID, AML, fraud and source of funds checks, but they take longer for the operator to verify because they are not linked directly to a bank account.
Given that players want to deposit and claim a welcome bonus straight away, it can be difficult for online casino payment teams to carry out the necessary checks in such a short space of time.
That said, some online casinos do allow players to use Skrill and Neteller to deposit and claim a welcome bonus as they are more comfortable mitigating the potential risk of bonus abuse.
They also have slightly different internal processes and procedures that allows them to undertake the checks they deem necessary in the required time.
If you do like to deposit with Skrill and Neteller and still want to be able to claim a welcome bonus, you can do so with these Find My Casino recommended brands:
Despite some online casinos not allowing players to deposit with Skrill and Neteller and claim a welcome offer, they are still among the most popular payment options among UK players.
To find out more, we spoke to Lorenzo Pellegrino, the chief executive officer of Skrill and Neteller.
Lorenzo Pellegrino CEO of Skrill and Neteller
Find My Casino (FMUC): Do Skrill and Neteller have any impact on whether an online casino allows its players to deposit via your eWallets and claim a welcome bonus?
Lorenzo Pellegrino (LP): No, this is a decision made by the online casino operator and not something that is influenced by Skrill or Neteller. The decision is typically based on a number of aspects such as risk factors and marketing.
To clarify, all UK-licensed online casino operators that offer Skill and Neteller as an option for depositing can allow players to deposit with either method and claim a welcome offer, but the decision to do so rests with the operator.
FMUC: Do the online casinos that allow Skrill and Neteller deposits on welcome offers do anything differently in terms of ID verification?
LP: Online casinos have their own account verification processes in place in line with regulations and any decision regarding welcome offers is made at their discretion. This means that some are happy to offer welcome bonuses to Skrill and Neteller depositors while others are not.
Regardless, all Skrill and Neteller accounts have standard verification requirements in line with local regulation and best practice, and all account holders follow the same processes.
FMUC: Why are Skrill and Neteller deposits and withdrawals so much quicker than other payment methods?
LP: Skrill and Neteller offer such quick deposits and withdrawals because we already have existing relationships with online casino operators that means they can make payouts almost instantly.
Unlike other payment methods, with Skrill and Neteller there is no third-party processor involved with the withdrawal which also speeds up transaction times.
Once the transaction has been made, players can then access their funds in their Skrill or Neteller wallet instantly or use their pre-paid card to make purchases.
FMCU: Do Skrill and Neteller offer added security and protection over other payment options?
LP: We have state-of-the-art, industry-certified fraud prevention services which monitor for fraudulent activity in real time.
These include monitoring technology which automatically scans transactions to identify suspicious activity, velocity, geo-location and computer fingerprinting among others.
Should suspicious activity be identified, we immediately block accounts while we follow up with authorities. We also work closely with third-party companies to identify fraudulent activity before it occurs, also known as chargebacks.
We’re able to limit the risk of fraud using the verification processes we have in place that customers in this industry undergo as part of gambling regulation, including social security numbers, geo-location checks and other forms of ID.
We also use bank account checks which are still one of the most widely used verification methods in the UK.
To learn more about Neteller, you can read our guide here.
Alternatively, sign up for a Neteller account here.