Neteller Update...

[xx44]

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Not to start a panic, but don't think your money is a 100% safe if it is sitting in neteller. Even though they have a good reputation, and is publicly traded, they still can declare bankruptcy. IF this happens, your money may or may not be tied up. Worse case, you will have to file a claim proving you had money there. In no way am I saying this will happen, but it is definitely a possibility.

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Funds are in segregated accounts... Neteller made alot of money last year... they aren't about to declare bankruptcy...

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"NETELLER holds over 110% of in-transit funds in independent trust accounts for your protection"

From their website. The fact that they use some of the customer funds for operating expenses is what puts money left in NT at risk. No way a likelyhood, but a possibility.

A company that loses that large of a mkt share all at once has some SERIOUS issues.

[Sniper]

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"NETELLER holds over 110% of in-transit funds in independent trust accounts for your protection"

From their website. The fact that they use some of the customer funds for operating expenses is what puts money left in NT at risk. No way a likelyhood, but a possibility.

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Not sure how you reach the conclusion that keeping 110% of funds in trust equates to using customer funds for operating expenses?

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A company that loses that large of a mkt share all at once has some SERIOUS issues.

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Party seems to have survived quite well... I expect Neteller will as well... leaner, yes... going out of business, not likely...

[bobman0330]

I called Wachovia last night, and they told me that they post deposits between midnight and 7AM, so checking your bank account during the day doesn't make a lot of sense.

[minwoo]

Does anyone have updates about requesting a check from Neteller instead of doing an EFT or ATM withdrawal? I requested a check for $10k today...

[xx44]

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"NETELLER holds over 110% of in-transit funds in independent trust accounts for your protection"

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Maybe I am misinterperting this statement, but I take it to mean funds that are actually "in-transit" as opposed to being hed in neteller.

Party's net was probably 30x that of NT, giving them more cash for the leaner times. I also believe that Party's margins are much greater than NT.

[Sniper]

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"NETELLER holds over 110% of in-transit funds in independent trust accounts for your protection"

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Maybe I am misinterperting this statement, but I take it to mean funds that are actually "in-transit" as opposed to being hed in neteller.

Party's net was probably 30x that of NT, giving them more cash for the leaner times. I also believe that Party's margins are much greater than NT.

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This statement seems pretty clear... "Customer funds, including those of US residents, are held in segregated trust accounts and are fully secure and will be available for withdrawal by customers, on demand."

[BionicComma]

My big question now is how to buy chips online. As a US player no one wants to touch my money.

Yay Republicans.

[LeapFrog]

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My big question now is how to buy chips online. As a US player no one wants to touch my money.

Yay Republicans.

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Many threads out there. Try this one:

http://forumserver.twoplustwo.com/showfl...e=0#Post8803069

[deepdowntruth]

Reuters article on the ban. Notice the complete misunderstanding of the content of the UIGEA.

http://today.reuters.com/news/articlenew...=rss&rpc=22

[Sloats]

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Hi all,

Just had a chat with Neteller, and wanted to share. Dont know if anyone is in my situation, so take it for what its worth.

My situation is I had deposited $5000 on Sunday, the money is no longer in my bank account but the EFT is still pending. No sweat, this usually takes a week, but wanted to check whether there would be a problem....last answer is not encouraging.

Marcella: Hello.
xxx: Hello Marcella
Marcella: We are experiencing some major delays right now.
xxx: OK, Im talking about the transaction I made on Sunday where the money has already left my bank account.
xxx: Will that $5,000 still appear in my Neteller account in a reasonable timeframe given the money has left my account? Understand that there are delays around withdrawals right now.
xxx: Are you still there?
Marcella: Sorry, I cannot say when the funds will reach your NETeller account. We are trying our best to get some answers.
xxx: Where is the money then? Because the funds have already left my bank account. Is there any way to reverse the transaction?
Marcella: Unfortunately we cannot reverse right now. We are wiating for updates.
xxxx: Wow. OK, so I just dont have my $5000 then, that's unfortunate.
xxxxx: Is the problem that third-party processors will not do business with Neteller right now or is there a liquidity issue?
Marcella: You can view any updates at http://updates.neteller.com.
xxxxx: Yeah, Ive read that, none of that helps answer my question. Frustrating, I know you guys are in a tough spot here, but frustrating on my end since the money is out of my account and is apparantly going to disapper into the ether.
Marcella: We don't know what is going to happen at this point. We are waiting for updates.
xxxxx: Can you assure me I will be paid in full?
Marcella: I cannot make any promises.

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Sounds like a 24-tabler.

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Sounds like MS Sunshine.