Neteller Update...

[AASooted]

[ QUOTE ]

3. A $20.00 USD minimum for each NETELLER Card withdrawal; a $20.00 USD minimum for each peer-to-peer withdrawal; $0.01 USD minimum for each EFT withdrawal; and $5.00 USD minimum for each cheque withdrawal.

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simultaneously with:

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Withdrawal Fee Schedule
The following is a list of current fees that are associated with the various types of withdrawals that NETELLER uses:

Withdrawal Type Fee Time

NETELLER Card $2.00 USD 15 min to 1 hr

Peer-To-Peer 1.9%(Recpnt Pays) Instant

EFT Free 1-2 business days

Cheque $2.00 USD Minimum 2 days
Fee Regular Mail

So for any Neteller card withdrawal there's a $20 fee (!) ?? As in from an ATM or online or what? All of the above?

Also, EFT now costs 1c... I guess? (lol)

Do the "hereby notified changes" trump the fee schedule? I'm guessing...

[/ QUOTE ]

You're confusing minimum withdrawal amounts with withdrawal fees. There is no fee for an EFT, and it must be for a minimum of $0.01. There is a $2 fee for withdrawing using the NETeller card, and you can't withdraw less than $20 when you use it.

[AnyMouse]

Wow... aren't I a goof. Thanks.

[Sniper]

<font color="red">PRIORITY ALERT: Neteller is suspending use of the Gold Neteller Card</font>

Here is the updated info from their FAQ... also an acknowledgement that this is now affecting non-US customers too... (ps... Do not panic)

How can I withdraw funds from my NETELLER account?

At this time, our ability to provide US members with withdrawals is significantly reduced. As a top priority, we are working to resolve all withdrawal issues, but in the meantime we continue to maintain these funds in trust on your behalf. Please check this page regularly for more updates.

Why can’t I use my Gold NETELLER Card anymore?

The Gold NETELLER Card is not available as a withdrawal option at this time.

We are doing our best to restore our withdrawal options but don't know how long this will take. In the meantime your funds are safely maintained in trust accounts. We will communicate any updates as soon as possible.

Why can’t I get a Gold NETELLER Card anymore?

We are temporarily not issuing Gold NETELLER Cards. The Gold NETELLER Card is not available as a withdrawal option at this time.

Does this change affect non-US members?

Yes. NETELLER is currently unable to transact with USD bank accounts, regardless of the location of the member. Please contact us to learn more.


Neteller FAQ updated

[CompatiblePoker]

[ QUOTE ]


Yes. NETELLER is currently unable to transact with USD bank accounts, regardless of the location of the member. Please contact us to learn more.


[/ QUOTE ]

I guess that means pending EFT's are a definate no go anytime soon. It is kind of funny how they avoid their own questions in their "FAQ".

[AssFrister]

Can I ask a question of those who know how the banking system works and fully understands what NT is saying:

Will a non-US customer whose NT account is in USD also have a problem withdrawing straight to a linked (non-US) bank account right now? What about is that "non-US" linked bank account was a USD account? (Is a "foreign" USD account actually an American bank account in practice? And would that then cause a problem?)

Edit: Sorry, just found the info in another thread. Apparently EFTing to a non-USD bank account should be OK at the moment.

[Sniper]

Frister,

They are likely taking a bit longer than usual though...

[joecash]

sorry, but I have been out of the loop with work this month..

i scanned some threads here, but too much info that has changed it looks like..

here's what i think happened:

2 guys from NT were arrested, now NT is afraid to interact with US banks? so right now, no way for US accounts to get money out of NT,but it seems like eventually we will be able to after NT figures out how to do it legally??

besides the 2 NT guys getting arrested, did the US make some kind of statement to NT/online poker sites that has scared them? this is the part i don't get - what has made NT change their ways?

[Sniper]

[ QUOTE ]
sorry, but I have been out of the loop with work this month..

i scanned some threads here, but too much info that has changed it looks like..

here's what i think happened:

2 guys from NT were arrested, now NT is afraid to interact with US banks? so right now, no way for US accounts to get money out of NT,but it seems like eventually we will be able to after NT figures out how to do it legally??

besides the 2 NT guys getting arrested, did the US make some kind of statement to NT/online poker sites that has scared them? this is the part i don't get - what has made NT change their ways?

[/ QUOTE ]

Not really... it appears that in arresting the 2 Neteller founders, the DOJ also got the 3rd party processors Neteller used to move funds around the US (because the founder were at least at some point involved in those companies, and may still be).

In a nutshell... the gaming sites use Neteller to hide where funds are going... and Neteller used other "unknown" (to anyone who didn't care to exert even minimal effort to discover) companies to hide that the transactions were with Neteller.

So basically, the DOJ basically just informed the banks that XYZ Corps (actually JSA something or another and others) were really Neteller in disguise and doing business with those companies is BAD [img]/images/graemlins/wink.gif[/img]

Hence, effectively Neteller's entire current ability to make transactions with US Banks (thru intermidiaries) has been shut down by the Gov't. (for the moment)