Neteller Tip for New Players

[robracing]

Firstly, if you haven't signed up for a Neteller account, you must! It is an extremely slick and efficient way to transfer money in and out of the various poker sites you will want to be using to build up your bankroll through bonuses, and hopefully, winnings.

Secondly, a tip for non-USA based players; make sure you setup the currency for your account as US$ when you originally sign-up. (Assuming that you will be playing at US$ sites, such as Party, Empire etc)

I made the mistake of setting my currency to UK£, and I have lost quite a bit in currency exchanges, prior to opening a new account in US$ and getting Neteller to transfer my balance over for me today.

For example, I cashed out $400 from Party, which was then converted into approx £220. But this was only enough to then deposit $390 into Empire. I lost a hard-earned $10 in exchange fees!

As I intend to chase bonuses for the next few months to build up my BR, these losses had the potential to mount up considerably.

Good Luck!

[iNsChris]

Do you need to register a credit card to this to use it?

Or is that for withdrawals only? (Assume credit card = Authenticated account, but can i cash into pokersites if its not authenticated.?

[Aces 'n Eights]

[ QUOTE ]
Do you need to register a credit card to this to use it?

Or is that for withdrawals only? (Assume credit card = Authenticated account, but can i cash into pokersites if its not authenticated.?

[/ QUOTE ]

You do not need to register a CC. You can hook it up directly to your bank account and just do EFTs. Which leads me to another tip that I do.

If you are concerned about the connection to your bank account and fear it being compromised - open a second bank account to connect Neteller to and only keep your poker funds in it.

A8

[iNsChris]

Butt you have to link it to your bank in some way or another?

You can't open a "isolated" account and just keep money in there with no connection to banks/Bank Details/Credit cards etc?

Opening a bankacount purely for poker is hassle but ill do it if needs be.

Thanks.

[SheridanCat]

Opening a special account is not really a big deal. I know some people on 2+2 opened Ing Direct accounts online and use those for poker funds. I happened to have a second little-used checking account I hooked up for online poker purposes.

Take a look at the Ing Direct website for information on that account. I believe it also pays interest.

Regards,

T

[topspin]

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You can't open a "isolated" account and just keep money in there with no connection to banks/Bank Details/Credit cards etc?

[/ QUOTE ]

You can.

[Pov]

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If you are concerned about the connection to your bank account and fear it being compromised . . .

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. . . then don't be. Neteller is publicly traded on the London AIM exchange with a market cap of over a billion dollars. They aren't going to steal your money.

[Aces 'n Eights]

[ QUOTE ]
[ QUOTE ]
If you are concerned about the connection to your bank account and fear it being compromised . . .

[/ QUOTE ]

. . . then don't be. Neteller is publicly traded on the London AIM exchange with a market cap of over a billion dollars. They aren't going to steal your money.

[/ QUOTE ]

I wasn't specificly referring to Neteller. BUT - there is no guarentee they can't get hacked or have your pwd/security information sniffed out. Likely - NO Possible - Yes. So I mention it as a tip for "Piece of Mind" purposes. I would rather not wake up one morning to find my regular account cleaned out.

A8

[robracing]

Assuming that most of the people on these boards are either already winning players, or aspire to be so soon, it does make sense to to attach you Neteller account to a B+M bank of some sort. There will hopefully come a day when you want to regularly draw down part of your bankroll for day-to-day cash on hand, holidays etc.

I think that one reason that you might wish to hook your Neteller Account up to an off-shore bank (from a US perspective) would be for "tax efficiency". The UK Government, for example, views all gambling winnings as completely tax-free.

There is also the possibility that the US Government will harden it's stance against internet gambling and poker in particular. One possible course of action would be for them to stop the US-based banks from dealing with Neteller, Firepay and the poker sites themselves.

[chipstacks]

how do you actively chase bonuses?? are they earned just by playing fixed limit games or do you have enter tournaments, raked hands, or higher limit games??