Neteller Confusion

[Eagle Eye]

What exactly is neteller's place right now. I know that they say they are waiting it out but I really have no idea what that means. Can someone explain their position? Also, if neteller does go, will it have any kind of impact? I read the FAQ but I couldnt find direct answers to these questions.

[Sniper]

For the moment Neteller is business as usual... however, they have stated that they will follow the Regs when they are put in place.

Since, the Regs haven't even been proposed yet, it is impossible to judge what the impact will be, beyond saying that there is a possibility that you will not be able to transfer to poker sites thru Neteller at some time in the future.

[surfinillini]

when are the regs "put into place" as you say?

[yoursmine]

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when are the regs "put into place" as you say?

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Anytime between now and 270 days from the passage of the legislation. I suppose it could even be after the 270 days but no one knows for sure

[antneye]

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when are the regs "put into place" as you say?

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Anytime between now and 270 days from the passage of the legislation. I suppose it could even be after the 270 days but no one knows for sure

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Regs have 270 to be published... the bill states no timeline that the banks must be able to comply with regs by. It could be 1 day after publication, or it could take years.....or even be unimplementable.

Shuffle up and deal. Some of us on this forum will be dead before we know all the answers. Why worry until it happens.

[pie taster]

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Regs have 270 to be published... the bill states no timeline that the banks must be able to comply with regs by. It could be 1 day after publication, or it could take years.....or even be unimplementable.

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My wife has worked in the financial industry for years, and was part of the team that had to implement the federal regulations around the Patriot Act.

She is pretty confident that the fed will take the full 270 days to publish the regulations (have you ever heard of the government delivering something early?). So you are correct to not panic! This will take a long time to sort out. Shame on Party and Firepay for overacting and costing their shareholders a ton of money.

On a side note, my wife is surprised no one is yelling about the cost to the financial institutions to implement these regulations. The burden of the cost of those regulations are placed on the financial institutions customers. Which is everyone that uses a bank.

If voters were asked if they wanted to stop online poker and that would me lower interest rates on their savings and higher banking fees. i doubt many would support that.

[follypress]

Should I withdraw my money from my neteller account asap!

[JPFisher55]

I have read reports that the banking industry is lobbying to resist expensive regulations. Some of these reports claim that the regs will not affect processing of paper checks or ACH transactions.

[Colonel Kataffy]

[ QUOTE ]
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when are the regs "put into place" as you say?

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Anytime between now and 270 days from the passage of the legislation. I suppose it could even be after the 270 days but no one knows for sure

[/ QUOTE ]

Regs have 270 to be published... the bill states no timeline that the banks must be able to comply with regs by. It could be 1 day after publication, or it could take years.....or even be unimplementable.

Shuffle up and deal. Some of us on this forum will be dead before we know all the answers. Why worry until it happens.

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Is this based on the the sheer number of 2p2ers, or do you have some inside information?

[ramsclub]

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Should I withdraw my money from my neteller account asap!

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This is a joke right?