Options after Neteller?

[Indiana]

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MAIN TAKEAWAY:

Bottom line is that Neteller is still around now, business as usual. Neteller may or may not be around in 270 days, but we also have 270 days for players, e-wallets, banks, etc. to think of and establish workarounds. In this forum alone, we have already thought of 5 different workarounds in the first week after the bill was passed. How long do you think it will take for us to think of the workarounds after the law is enforced?? Not very long if you ask me.


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.

Spidey74

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if they are snooping i hope they can see my personal message to them: FUUUUUUUUUKKKKK UUUUUUUUU

[OmahaGal]

I linked to CentralCoin from Stars and noticed that you have to submit your social security number. I don't remember doing that with Neteller and don't think I'd feel comfortable giving that information up to some offshore middleman. Why is that information necessary for a middleman to have? What do they need it for?

[I_C_ALL]

Now that everyone's going to give this more thought, I wanted to throw this back out there. What is the problem with a foreign bank account? Just like with Neteller, you will have to report it if the balance ever exceeds 10k as well as on your form 1040, but I hear the brits all use their credit cards to deposit. Since it would be a foreign bank not restricted from gambling transactions, we should be able to do the same.

Is the problem that our status with that bank will be a US citizen and the bank will stop us? I have to imagine those swiss banks don't give a [censored] what the US wants....

Anyone educated on this, please let me know. Why would this not be a viable option? I'd be willing to fly to Switzerland to do this. I always wanted to say I had a Swiss bank account. Minimum balance? [img]/images/graemlins/tongue.gif[/img]

btw, thought about this after I posted. Please don't respond with the "What about the fish" or "The fish will never follow"

[joeker]

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Now that everyone's going to give this more thought, I wanted to throw this back out there. What is the problem with a foreign bank account? Just like with Neteller, you will have to report it if the balance ever exceeds 10k as well as on your form 1040, but I hear the brits all use their credit cards to deposit. Since it would be a foreign bank not restricted from gambling transactions, we should be able to do the same.

Is the problem that our status with that bank will be a US citizen and the bank will stop us? I have to imagine those swiss banks don't give a [censored] what the US wants....

Anyone educated on this, please let me know. Why would this not be a viable option? I'd be willing to fly to Switzerland to do this. I always wanted to say I had a Swiss bank account. Minimum balance? [img]/images/graemlins/tongue.gif[/img]

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Cuz to open a foreign bank account requires a large amount of money to either incorporate or register as a business in said country OR you have to be a resident in said country with an address there and identification

It's doable, but costly

[I_C_ALL]

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.

[joeker]

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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.

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There's usually min deposit and min balance requirement of anwyhere from $5k on up for a foreign bank account.

Check the Isle of Man banks...they're cheaper than the Swiss banks and just as safe

[evabrighton]

There are problems within the EU with opening bank accounts. The bank usually wants some proof of residence within the country that the bank is located in etc etc...
If I was american I would go to the Caribbean somewhere...what about Canada?.
But don't expect EU-banks to be open to anybody, they are fairly strictly regulated...

But I am sure there wil be a trillion ways to get around this - there is simply too much money out there that wants to be directed into the poker sites and no legislation in the world can change that.

The poker genie went out of the bottle almost 10 years ago and the legislation cant reverse it.

Have faith, the flop will be good again soon!

[TXaces]

Swiss bank accounts are -- as far as I know -- readily usable by Americans without booking a flight to Zurich. You do not have to reside in Switzerland. Everything can be done by mail.

What about using eGold? The value of your account rises and falls with gold's price. I haven't noticed that as a poker site deposit method though.

From interpretations by legal experts (not regular posters)on Cardplayer, ordinary checks will not be affected by the new regs as there are just too darn many of them to track.

[scottc25]

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From interpretations by legal experts (not regular posters)on Cardplayer, ordinary checks will not be affected by the new regs as there are just too darn many of them to track.

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From what I heard checks are going to be exempt from the new law. I will try to find a link to confirm.....

Edit: The law says funding through checks is illegal but te provisions for monitoring have not come out yet. I guess we will see.

[WalkAmongUs]

I haven't had to deposit into my Neteller account in over 2 years. If Neteller caves, will we still be able to cash out FROM poker sites to Neteller and from Neteller to our checking accounts?