Neteller Update...

[Sniper]

egoldy, you aren't saying that the Neteller Press Release is a direct response to your communication yesterday, are you?

[yahboohoo]

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Sorry, but I'm not believing this story until Gambling911 confirms it as fact.

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Damn funny.

With Navigant's involvement, we can probably expect a higher chance of the IRS and US Treasury crawling up our wazoos.

Good news: We'll get our money.
Bad news: ___________________ ?

[Jason Strasser (strassa2)]

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egoldy, you aren't saying that the Neteller Press Release is a direct response to your communication yesterday, are you?

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i believe he is actually saying that, sniper. hard to believe.

[dlk9s]

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egoldy, you aren't saying that the Neteller Press Release is a direct response to your communication yesterday, are you?

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i believe he is actually saying that, sniper. hard to believe.

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That's what it seems like to me, too. Holy [censored] [censored].

I bet they are still looking into a class action suit in order to ensure we all get back two cents on the dollar.

[Wahoo73]

I believe that what egoldy was trying to say is that the timing (but not the content) of Neteller's new press release was influenced by the direct communication the Neteller Customer Coalition (NCC) had with Neteller during the last 48 hours. I suspect this is a correct inference, i.e., that although the negotiations have been ongoing since Feb. 8th and the actual agreement being reached may have coincidentally occurred within 24 hours of the NCC's contact with Neteller, Neteller chose to make a public announcement when it did because of the NCC's activity.

However, I also tend to believe that Neteller is just "throwing us a bone" to shut us up for the next 75 days. Hopefully, the NCC will keep the lines of communication open with Neteller and continue to exert pressure, as needed, to influence Neteller to become more transparent and informative regarding the process of returning our funds to us.

[mwgr5]

Does anyone have a $0 account balance now? My eft for the balance of my account is still listed as pending, but I have a $0 account balance. Also, all of my transactions are still listed so it should be easy to prove that I do still have an account balance. Just wondering if anyone else is having this problem.

[lucktard]

Guys, I don't know why you guys are being so condescending towards egoldy. I think we all owe him and everybody at the Neteller Customer Coalition a big thanks for finally getting something done. You guys at the NCC really turned up the heat on those bastards and hit 'em where it hurt! Must have been one hell of a letter! Anyway, thanks for all you've done guys, and keep up the good work!!!!!!!!!!

[yahboohoo]

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Does anyone have a $0 account balance now? My eft for the balance of my account is still listed as pending, but I have a $0 account balance. Also, all of my transactions are still listed so it should be easy to prove that I do still have an account balance. Just wondering if anyone else is having this problem.

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That's the typical situation for someone with a pending withdrawal: $0 balance, says pending, can't cancel.

[yahboohoo]

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I bet they are still looking into a class action suit in order to ensure we all get back two cents on the dollar.

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Some people aren't comfortable with the EV of a "do nothing" attitude. It could be $0.00, whereas legal action is unlikely to produce $0.00.

I wouldn't underestimate the threat of litigation. It can be as effective as actual litigation.

[Wahoo73]

You are by no means alone...there are thousands of us in the same boat.

What you need to recognize is that American Neteller customers affected by this essentially fall into one of three categories:

1. Those who had transactions (both deposits and withdrawals) "pending" on Jan. 16th;

2. Those who attempted transactions after Jan. 16th;

3. Those who have just left funds untouched in their Neteller accounts since Jan 16th.

It is my understanding that those category #1 funds that were "in-transit" either into or out of Americans' Neteller accounts on Jan. 16th are the ones that were "seized" by the DOJ and, as has been widely reported by the media, amount to approximately $55 million.

WRT those category #2 transactions that took place after Jan.16th, Neteller apparently bowing to pressure by the DOJ voluntarily "suspended" those transactions. (It is also my understanding that Neteller still retains some control over transactions in this category, inasmuch as Neteller senior customer service reps as recently as Monday claimed that these transactions could still be manually cancelled on a case-by-case basis by Neteller if the customer requested it.)

The status of the 3rd category is that Neteller still retains complete control over these funds and has "frozen" these accounts from any further activity.

It is also my understanding that with respect to returning funds to Americans that fall into the 1st and 2nd categories, that those who already have transactions "pending" are in a queue and will be processed in chronological order once Neteller begins processing these transactions again. Therefore, if you are in the 2nd category and currently have a transaction pending and now choose to have it cancelled, it will be removed from the queue and any subsequent transaction(s) will go to the end of the line. Obviously, it seems that the most problematic transactions to process will be those in category #1 that were "pending" on Jan. 16th, as these are the ones that are under at least some control by the DOJ. I suspect that it is the negotiations and formulation of a plan to process these 1st category transactions that is causing the delays in addressing the concerns of those that fall into the 2nd and 3rd categories.