Neteller Update...

[By-Tor]

this whole thing is extremely frustrating and depressing.

that is all.

[wildpokerman]

[ QUOTE ]
I really feel for you US guys locked out by your own idiotic lawmakers, but you gotta realise that just because the sky is falling in america, it doesn't follow that it's falling everywhere else

It strikes me that your legislation has most to do with two distinct goals:

1. An attempt by the administration to use any available means to improve the terrible public perception of the position the administration finds itself in, and to distract the public from the terrible increasing human and financial costs of the war in Iraq


[/ QUOTE ]

I wouldn't doubt this, but I'd give up poker forever if the USA would quit going to war so often.

[Sniper]

[ QUOTE ]
imnsho, neteller will not fold, they have a profitable business, yes, it's a lot less profitable without the US players, but it will nevertheless still be a nicely profitable business.

They'll downsize their CS operation to match their customer base, just like Party did, and party is still doing quite nicely - there's plenty of loose money at party, plenty of players, and most importantly, plenty of fish.

[/ QUOTE ]

[GARDOCK]

had an eft from neteller the night of the 16th was accepted same bank I had used for two years making well over 75 transactions declined this morning no explanation given, however the money was still in neteller two more pending but im sure they wont go through either seems like my bank wont take it anymore, as I've also been waiting about a week on two small deposits from new ewallets.

[AnyMouse]

What is going on:

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Withdrawal Information
Please make note of the changes to the NETELLER Withdrawal process.
The following rules will be applied to all withdrawal requests that get made from the NETELLER System.

1. The total amount of any "uncleared" instaCASH deposits will not be allowed to be withdrawn.

2. Any amount remaining can then be withdrawn through one of our withdrawal options.

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.

Note: These rules will be applied automatically when you make a withdrawal request.
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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


These fees are listed in your base currency, and are subject to change without notice. There is a $1.00 USD minimum fee for peer-to-peer withdrawals.
--------------------------------------

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...

[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.

------------------------------------

simultaneously with:

--------------------------
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".

[Unabridged]

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

[/ QUOTE ]

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.

[/ QUOTE ]

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."

[/ QUOTE ]

do we have any proof of this statement?
a solvent &amp; liquid company that was closing US customer accounts would have mailed cashiers checks of the entire balance to each US account holder immediately. they would do this so they keep their reputation and be able to continue doing business elsewhere. neteller has suspended all stock trading for the last week. they obviously care very little about being able to continue outside the US.