Options after Neteller? - Page 3

autobet · #21 10-19-2006, 11:46 PM

All forms of funding would be illegal, but if checks are exempted or impossible to enforce at least we could get money out.

The main problem is for the fish to be able to keep funding their accounts...time will tell.

PokeReader · #22 10-19-2006, 11:53 PM

Neteller already gave up the Maryland market after being threatened by state officials after Maryland banned online gaming, (article on media sticky). As a publicly traded company they are legally bound to follow all laws and regulations of the jurisdictions in which they operate, whether or not they are overseas. Therefore, it is extremely unlike they will continue, especially as poker is a minority of their business.

I posted these to a previous thread on Neteller, but as they haven't shown up on the official media sticky yet, here they are again,

What Would You Do Without Neteller? - including info about dropping Maryland

http://www.sportsbookreview.com/Articles/11.aspx

Online Gambling Goes Underground - A U.S. law aimed at cracking down on Internet gambling may drive the practice more into the shadows and do little to deter bettors (excellent article predicting the future landscape and role of e-wallets, discusses existing private e-payment services and likehood of increased financial risk for poker players)

http://www.businessweek.com/technolo...019_454543.htm

WalkAmongUs · #23 10-20-2006, 07:53 AM

[ QUOTE ]
All forms of funding would be illegal, but if checks are exempted or impossible to enforce at least we could get money out.

[/ QUOTE ]

the law only makes deposits illegal. Electronic cashouts are not covered in the law.

all we need is for 1 foreign ewallet company to sack up and say that U.S. law doesn't have juridiction over it.

which it doesn't.

Indiana · #24 10-20-2006, 09:42 AM

[ QUOTE ]
What's a large amount of money? Are you guessing or do you actually know. I'm not challenging... I'm seriously asking. I would do this if it would cost a few thousand. Now if that number was 10's of thousands.....

Someone on this board HAS to be a US citizen AND have a foreign bank account and know the answer to this.

[/ QUOTE ]

I have a foreign account at Cayman National in the Cayman Islands. Its easy and I have a VISA card with them as well.

min. deposit there is $1000 and they have applications online.

John Deere · #25 10-20-2006, 10:02 AM

Are there any risks associated with having a foreign bank account? Do you report the interest on this account in your taxes, or do you just not let the US government know that it even exists? Do you transfer money between this account and a U.S. banking account, or do you just do cash withdrawals from ATMs?

Also, how much is the ATM fee? I looked at their Schedule of Fees, but it's not clear. (Or is an ATM withdrawal the same as a "Cash Advance"?)

Sixth_Rule · #26 10-20-2006, 10:25 AM

[ QUOTE ]
Important Note: Though it is good to brainstorm some of the workaround ideas now, we need to be careful to keep some of these workarounds to ourselves until after the law begins to be enforced. You never know if the US government may be snooping around in these forums.

[/ QUOTE ]

OH no ...... Um now i am scared , first my phone and now... AHHHHH I am saying tooo muuuchh. Please don't squash me like a bug.

bluesbassman · #27 10-20-2006, 10:40 AM

[ QUOTE ]
I got a letter from Royal Vegas Poker on the Prima network, suggesting I use something called Click2Pay. I got the letter before this Neteller announcement too, if you want to read anything into that. I don't have a ton of faith in Prima, so I'm a bit skeptical, but it's worth looking into.

[/ QUOTE ]

I've used Click2Pay to deposit funds into Full Tilt. It's worked just fine. So there are perfectly viable alternatives to Neteller right now. The problem is, I'm afraid all of these services will be shut down by the new regulations. [img]/images/graemlins/frown.gif[/img]

Sarge85 · #28 10-20-2006, 10:44 AM

Send Cash.

Sarge[img]/images/graemlins/diamond.gif[/img]

Indiana · #29 10-20-2006, 10:45 AM

[ QUOTE ]
Are there any risks associated with having a foreign bank account? Do you report the interest on this account in your taxes, or do you just not let the US government know that it even exists? Do you transfer money between this account and a U.S. banking account, or do you just do cash withdrawals from ATMs?

Also, how much is the ATM fee? I looked at their Schedule of Fees, but it's not clear. (Or is an ATM withdrawal the same as a "Cash Advance"?)

[/ QUOTE ]

THere are no risks. Just pay taxes on anything u make from it. Low fees on ATM w/ds.

Indy

Indiana · #30 10-20-2006, 10:52 AM

By the way, if u guys have never been to the Cayman Islands, you should really take some vacation time and go down there. Its the most beautiful and awesome place on the planet. Its the only place I've been where there are high quality coral reefs right out in front of your hotel. Its an expensive country but really worth it. I could post some of my vacation pics if anybody is interested. Did I mention that you can get great cuban cigars there?

Indy