Neteller Update...

[lacky]

my question is shouldn't those of us with significant ballances be able to just fly out of the country to whereever the hell netellers headquarters are and withdraw the money in person? That doesn't require an ACH or EFT or check, etc, etc, just a willingness on netellers part to get us our money. For that matter, why cant they just send a stack of hundo's and insure it?

[JPFisher55]

Sniper, are you suggesting that Neteller was involved in assisting gaming sites to move their own money? I thought that they were only an ewaller service for bettors' money and only moved money belonging to the bettor from the bettor's bank account to the gaming site and back.

[Sniper]

[ QUOTE ]
my question is shouldn't those of us with significant ballances be able to just fly out of the country to whereever the hell netellers headquarters are and withdraw the money in person? That doesn't require an ACH or EFT or check, etc, etc, just a willingness on netellers part to get us our money. For that matter, why cant they just send a stack of hundo's and insure it?

[/ QUOTE ]

You want the next news item to be... US Customs confiscates hundred of millions of dollars in CASH attempting to be mailed into the country...

Not to mention Federal agents coming to your door to arrest you as a possible terrorist risk...

(Maybe a bit extreme, but I hope you get the point..)

[lacky]

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my question is shouldn't those of us with significant ballances be able to just fly out of the country to whereever the hell netellers headquarters are and withdraw the money in person? That doesn't require an ACH or EFT or check, etc, etc, just a willingness on netellers part to get us our money. For that matter, why cant they just send a stack of hundo's and insure it?


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You want the next news item to be... US Customs confiscates hundred of millions of dollars in CASH attempting to be mailed into the country...

Not to mention Federal agents coming to your door to arrest you as a possible terrorist risk...

(Maybe a bit extreme, but I hope you get the point..)

[/ QUOTE ]

so I guess your saying sending cash through the mail is a crime, thats news to me, but I donno much about it. Could you please give me your thoughts on this part

[ QUOTE ]
shouldn't those of us with significant ballances be able to just fly out of the country to whereever the hell netellers headquarters are and withdraw the money in person?

[/ QUOTE ]

I really don't see how that is breaking any laws, and it bypasses the US banking system.

[Sniper]

[ QUOTE ]
[ QUOTE ]
Quote:
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my question is shouldn't those of us with significant ballances be able to just fly out of the country to whereever the hell netellers headquarters are and withdraw the money in person? That doesn't require an ACH or EFT or check, etc, etc, just a willingness on netellers part to get us our money. For that matter, why cant they just send a stack of hundo's and insure it?


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



You want the next news item to be... US Customs confiscates hundred of millions of dollars in CASH attempting to be mailed into the country...

Not to mention Federal agents coming to your door to arrest you as a possible terrorist risk...

(Maybe a bit extreme, but I hope you get the point..)

[/ QUOTE ]

so I guess your saying sending cash through the mail is a crime, thats news to me, but I donno much about it. Could you please give me your thoughts on this part

[ QUOTE ]
shouldn't those of us with significant ballances be able to just fly out of the country to whereever the hell netellers headquarters are and withdraw the money in person?

[/ QUOTE ]

I really don't see how that is breaking any laws, and it bypasses the US banking system.

[/ QUOTE ]

Mail is screened... that much CASH comes thru the mail system in bulk, its going to be confiscated well before anyone determines if its legal or illegal...

[lacky]

Could you please give me your thoughts on this part


Quote:
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shouldn't those of us with significant ballances be able to just fly out of the country to whereever the hell netellers headquarters are and withdraw the money in person?


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I really don't see how that is breaking any laws, and it bypasses the US banking system.

[Unabridged]

sniper could you comment on why cashiers checks couldn't be used? surely there is a bank somewhere in europe will to print alot of cashiers checks.

[RacersEdge]

A few ?..

What about using something like Western Union to get money from NT?

Also, as dumb as is the DOJ, they don't really want to prevent NT-to-Bank-to-US Citizen link do they? Just the reverse path. That should be a simple filter to allow flow in one direction and not the other, right?

The last part leads to this: do any US people use NT for anything else BESIDES getting money to evil gaming sites? If so, they are just getting screwed in the process here?

[Sniper]

[ QUOTE ]
Could you please give me your thoughts on this part

Quote:
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shouldn't those of us with significant ballances be able to just fly out of the country to whereever the hell netellers headquarters are and withdraw the money in person?
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I really don't see how that is breaking any laws, and it bypasses the US banking system.

[/ QUOTE ]

Its not like Neteller has an actual physical bank presence... it would be kinda like driving your car into Toyota's corporate headquarters and asking them to change the oil [img]/images/graemlins/wink.gif[/img]

That said, I would be interested in hearing of someone actually going to Neteller's corporate office... I would guess that they might be able to provide a solution at that point. (assuming you weren't acting like a crazed lunatic)

[Sniper]

[ QUOTE ]
sniper could you comment on why cashiers checks couldn't be used? surely there is a bank somewhere in europe will to print alot of cashiers checks.

[/ QUOTE ]

I think I covered this one at some point... speculating...

Neteller's Bank may be part of the problem at this point for 2 possible reasons:

1. Their bank may not be able to handle a massive 200 million+ (could be much higher) withdrawal (on top of regular business) in 1 day (or 1 week, or 1 month).
2. The DOJ is scrutenizing the Banks, and they want to determine an appropriate response before digging a potentially bigger hole. (which may turn out to be nonsense, but short term could do alot of harm)