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Old 01-28-2007, 01:48 PM
Sniper Sniper is offline
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Join Date: Jun 2005
Location: Finance Forum
Posts: 12,364
Default Re: Neteller Update...

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sniper could you comment on why cashiers checks couldn't be used? surely there is a bank somewhere in europe will to print alot of cashiers checks.

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I think I covered this one at some point... speculating...

Neteller's Bank may be part of the problem at this point for 2 possible reasons:

1. Their bank may not be able to handle a massive 200 million+ (could be much higher) withdrawal (on top of regular business) in 1 day (or 1 week, or 1 month).
2. The DOJ is scrutenizing the Banks, and they want to determine an appropriate response before digging a potentially bigger hole. (which may turn out to be nonsense, but short term could do alot of harm)