NETELLER is an e-money/e-wallet service owned and operated by Optimal Payments Limited a wholly-owned subsidiary of Paysafe Group Plc is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. NETELLER is not a bank and does not lend customers fund. It is mandatory under FCA e-money regulations to maintain customer funds in separate trust accounts, separate from its operating cash, sufficient to repay all customer balances at the same time.
NETELLER offer a truly international Money Transfer service, with more than 200 countries and 22 currencies supported – it enable user to transfer money to and from merchants; majorly for forex trading, social networking, online gambling, etc. User can withdraw & deposit funds directly using the Net+ card, transfer the balance to their own bank accounts or via 40 other options.
Neteller is largely used by online gambling firms. In past years, Neteller processed payments for 80% of the world's gambling merchants. 95% of the firm's revenue in 2006 was derived from fund transfers to online gaming firms, with most users being U.S. residents.