Neteller Update...

[egoldy]

Personally, I do think that if our little group of 600 members hadn't done what it did, Neteller would have remained quiet. Without pressure, they have had no reason to respond - just focus on their internal problems.

You have to admin that the timing is interesting -- we send the letter, their VP of Corporate Communications comes to the site and spends almost an hour there, we send a follow-up e-mail to him, and 15 hours later, they have updated their FAQs and issued a press release. Even their press release references

"for more information, including newly updated FAQs that provide additional clarity, where the Group is able, around certain issues currently being raised in a number of public forums."

In the end, the group's objective is create awareness, drive action, and get our money back. Nobody is looking for a medal of honor here... I do find the anger very curious... Even the comments about the possibility of a lawsuit are strange - we're feeling out options -- what have YOU done?

In the meanwhile, the next step the group is taking is to get better answers to many of the outstanding questions that have been brought up by the group.. If you haven't already join the group and post responses there...


1) How many US customers are impacted by this freeze and what's the
total amount being held?
2) I am assuming that the money being held is more than the $50M seized
by the DOJ. Where is the rest of that money? Is it being used to
support UK customers or set aside for us?
3) Can you explain the primary issue with sending money back to us?
How can companies like Bodog and others issue checks and you can't.
Can you not pay us back because the money is tied up or because you
don't have a means to release it.
4) In other words, is your ability to pay us back fully tied to the
government releasing the $50M it has held?
5) If the case is dropped (assuming there is not another continuance),
do you expect the $50M to be released immediately?
6) We saw your post that it takes "time" to put something together, but
75 days to "devise a plan" seems excessive. Can you provide a better
timeline as to what is being done over the next 75 days? Assuming
the 75 days goes as planned, when do you realistically expect us to get
our money back.
7) Do you still feel that we will get ALL our money held or a "portion"
of it?
8) Do you expect any type of similar problems to impact customers
outside of the US?
9) What is Neteller's posoition on customers that have dual
citizenship? Can these customers get their money out?
10) Is there anything that you would like our group to do to help?
11) From a privacy perspective, do you expect information on your customers to be released to the US government or IRS?



(also, I think the comments brought up by Wahoo above are excellent (and were posted on the NCC board) and will be added to the e-mail when it is sent.