New Neteller T&C?

[Fitz]

What are the ramifications of agreeing to the news T&C from Neteller? Do we have any choice but to agree? I deferred this morning, but it only allows us to do that once.

Thanks,

Fitz

[Fraubump]

What are the new T&C?

[MycroftX]

I defered this morning to make an EFT.

I still have my, now reduced, $500 BR in there though.

If you decline their T&C's though I would think they could close your account. So you're probably better off to defer while you can in order to make a withdrawal if thats what you want to do, but ultimately you'll have to accept their T&C's in order to use thier site.

[Fitz]

That is what I figured. I deferred this morning, and I made a EFT. I have some money still on it's way to Neteller, so I guess I'll have to accept the new T&C so I can withdraw that when it gets to Neteller. I was just curious about what exactly they were forcing us to agree to.

[sorry4me]

Is the bold print highlighting the changes?

From the terms:
[ QUOTE ]
15.6 IN NO EVENT SHALL NETELLER OR ITS AFFILIATES, SUBSIDIARIES, AGENTS OR SUBCONTRACTORS BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, PUNITIVE, EXEMPLARY OR INCIDENTAL DAMAGES, WHETHER BASED ON NEGLIGENCE, WILFUL MISCONDUCT, TORT, CONTRACT (INCLUDING WITHOUT LIMITATION FUNDAMENTAL BREACH OR BREACH OF A FUNDAMENTAL TERM) OR ANY OTHER THEORY OF LAW, OR FOR ANY DAMAGES FOR LOSS OF DATA, LOSS OF INCOME, FAILURE TO REALIZE EXPECTED REVENUES OR SAVINGS, LOSS OF PROFITS OR ANY ECONOMIC OR PECUNIARY LOSS.

[/ QUOTE ]

[ QUOTE ]

17.2 These Terms of Use shall be governed by the laws of the Isle of Man. All disputes arising out of or relating to these Terms of Use shall be resolved by the Courts of the Isle of Man, except where Isle of Man legislation requires a specific dispute to be resolved by the courts of another jurisdiction.

[/ QUOTE ]

[Fitz]

I saw the bold print, and I assumed those were the pertinent changes. What does this mean for us?

[BillJames]

[ QUOTE ]
Is the bold print highlighting the changes?

[/ QUOTE ]

No, these bolded sections are not bold because they highlight the changes. These terms (which almost definitely were in the old terms) deal with potential legal damages and jusridictional legal issues, which by US law must be in bold in T&Cs (you'll see very similar bolded language in a credit card T&C, for example).

It appears that Neteller gives no indication of what changed here, and I can't find an old version of the T&Cs anywhere. This does not mean that this is some insidious plan to steal everyone's money, however -- no doubt Neteller's interest here is to legally protect their own butts, not steal money. Obviously, if Neteller did so they and their executives would be finished in the industry forever.

[jah7_fsu1]

Color me confused!

[ QUOTE ]
That is what I figured. I deferred this morning, and I made a EFT. I have some money still on it's way to Neteller, so I guess I'll have to accept the new T&C so I can withdraw that when it gets to Neteller.

[/ QUOTE ]

So if you agree (and have money on the way from poker sites) you won't be able to get the money from the site? Can you still use neteller to deposit into other sites? I'm not very good at sifting through this, thanks guys.

[jah7_fsu1]

What I'm asking is why did you guys defer? What in the new T&C makes it to where you don't want to agree and what does agreeing mean now?

[RainmanTrail]

JUST USE IT... THERE IS NO DIFFERENCE TO YOU! I tooke 2 grand out of my full tilt account yesterday and put it in Neteller. I then promptly took it out of Neteller into my bank account after agreeing to the new T&C... NO PROBLEMS