Understanding Affiliate Payment Systems
Affiliates with earnings to cashout might find themselves asking: what is Neteller? Which online pay system is best for receiving website payments? Should you go with Heartland Payment Systems or find a Skrill casino to promote?
To clear up the confusion, here’s a breakdown of the pros and cons of iGaming’s top payment systems and what affiliates need to know regarding which cashout options are best.
Affiliates commonly choose to use Neteller to process payments since it is the foremost e-Wallet used in the iGaming industry. Most affiliate programs will process payments to Neteller. In short, Neteller is the simplest, cheapest, fastest, and safest option for moving money around the web. They charge no transaction fees for recipients of money which means you’ll get to keep all of the money you make as an affiliate.
With a Neteller ATM card, you can access your affiliate earnings directly. This method is advisable because if you cash out earnings to your bank account, Neteller does charge a fee for processing that transaction.
Unfortunately, Neteller has been closed to customers from the United States since 2007 after their founders were arrested and charged with money laundering. This was the first major battle victory in the latest U.S. war against online gambling.
Many affiliates like to use Skrill which is in many ways identical to Neteller. It can be advantageous to use each of these services. There are a few reasons to do this. First, some affiliate programs will permit Skrill payments but not Neteller (and visa-versa). So if you’re promoting multiple programs (which we recommend) it may not be possible to use one merchant to process all of your transactions.
Another reason to use Moneybookers in addition to Neteller is to keep one account for U.S. dollars and another for Euros. This can save a bundle on currency exchange fees.
One small nuisance about Skrill is that it usually takes 3-5 days to process a transaction, but otherwise the fees are low and service is trustworthy.
Bank Wire Transfer
Almost all iGaming affiliate programs are happy to wire your earnings directly to your bank account. For affiliates based in the U.S., this may be one of your only realistic options.
The one obvious downside to a wire transfer is that there is usually a fee charged by both the affiliate program as well as your personal bank in order to process the transaction. However, for speed and reliability it’s tough to top a wire transfer.
Check by Mail
A cheaper alternative to a wire transfer is to receive a check by mail. This convenience is not without its downsides, however. Typically, affiliate programs can take a few extra days to process a paper check into the mail. If you live in a country without a highly reliable delivery system, these checks can sometimes get lost. Moreover, they often take a few days to clear. In short, checks might be a cheap cashout often but they are often a sizable headache.