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Old 10-02-2006, 08:57 PM
Xhad Xhad is offline
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Join Date: Jul 2005
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Posts: 5,289
Default Re: Neteller up. New Terms of Service

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14.1 At our discretion, we may suspend or limit access to your Account (including without limitation, placing a hold on funds in your Account, limiting your ability to send or redeem, transfer or withdraw electronic money from your Account, limiting your payment sources) or terminate your Account, at any time and for any reason, including but not limited to the following:

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3.1 You acknowledge that (i) NETELLER is not a bank; (ii) Accounts are not insured by any government agency; (iii) NETELLER does not act as a trustee, fiduciary or escrow holder in respect of balances in your Account; and (iv) NETELLER does not pay you interest on any balances in your Account.

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Do these statements mean that they can "steal" any money that you have in your account?

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The reason for these statements is that banks have a limited window on how long they can hold funds for any reason. For example if you deposit a $4000 cashier's check from Nigeria, the bank is often obligated to release the funds before the cashier's check actually clears, which is how some of the more heinous scams work.
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