Abandoned by Neteller, Canadians Choose Interac
Where do you turn when there’s no longer a Neteller casino Canada players can deposit with?
Years back – what seems like ages ago at this point – the online gambling industry was struggling due to a remarkable lack of trustworthy deposit methods. Security was a huge issue at the turn of the millennium. The dreaded Y2K may not have caused any problems, but people’s identities were being stolen left and right!
The problem was that credit and debit card numbers were being hijacked as quickly players could type them into the cashier windows of their favorite online casinos. Back then, a lot of operators didn’t offer the same degree of high-tech level encryption as they do now. As a result, entering sensitive information on a casino’s website wasn’t always the safest route.
The solution to this was online payment processors – companies we know today as eWallets, or web wallets. The first was PayPal, but PayPal was a real stickler for the law. Even though online gambling wasn’t expressly illegal – it wasn’t anything back then, by legislative standards – they decided that since it wasn’t expressly legal, they didn’t want anything to do with it.
That’s when Neteller came along. The new payment processor poured every high-tech capability available into its servers, giving them the same amplified security level of everyone’s trusted PayPal. But Neteller was more than willing to serve the online gambling community. In fact, the vast majority of their revenue came from iGaming transfers. This went on for about 15 years until one sobering day in 2015, when all of a sudden, there was…
No Neteller casino Canada players could deposit with.
What happened? Why was Neteller suddenly declining Canadian casino deposits? The trouble came with an alteration to Neteller’s user agreement. No longer would Canadians be able to use their services for gambling related transactions. All other transactions were still okay, but no more online gambling.
You see, things were getting heavy in the US market int hose days. For the first time, online gambling was permissible in certain states. Every eligible company wanted to get in on the action. But some states ruled any company that operated in illegal markets should not operate in their market. Neteller got scared and pulled it services from every jurisdiction where iGaming wasn’t expressly legal. That included Canada. Even though online gambling is legal here, it’s considered a grey market.
In a brief effort to appease the Canadian community, Neteller bought Skrill (formerly Moneybookers) and left it firmly planted in Canada. “Here, you can use Skrill for iGaming”, they told us. But two years later, they ripped Skrill out from under us as well. This left Canadian scratching there heads, wondering…
Where do we turn without Neteller?
Fortunately, we have plenty of safe, secure and, quite frankly, better options to choose from in 2020. The top choice has to be Interac deposits. This online payment option was developed by Canada’s largest banks for the specific purpose of transferring funds in and out of local banking institutions. It works domestically and internationally, and anyone in Canada that has an account with any one of the 250+ banks that support it already has access to Interac, whether they know it or not.
If you conduct online banking in Canada, odds are you are already set-up to use Interac. It’s free, it’s instant, and it’s as secure as any other payment method on the web today – more so than some.
If you aren’t a member of an Interac-elgibile financial institution, you still have some great options. I would suggest looking into iDebt, Instant EFT or eCheck deposits. They are highly secure and have never abandoned the Canadian market.
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