Your bank may soon block Neteller, etc.....

[SenatorFoghorn]

I stumbled accross this forum for bankers......

http://www.bankersonline.com/ubbthre...e/1#Post542162

Re: Internet Gambling [Re: Chevy Chase]
#545968 - 04/12/06 10:47 AM
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Quote:
We're adding the names of the top 5 gambling/paypal companies to our AML monitoring software to get a better investigative entry point, if that makes any sense.



What are the top 5 gambling/paypal companies?

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Chevy Chase
Diamond Poster


Reged: 06/11/05
Posts: 1824
Loc: Jersey Shore
Re: Internet Gambling [Re: Poohie]
#545991 - 04/12/06 11:03 AM
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We're still debating #5, but here are the top 4 (at least in our opinion, )

Neteller
iGM-Pay
FirePay
Moneybookers (mostly European)

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interesting posts.....

[mdrudeen]

I am unclear (because I am not a banker) but I think that thread was about people using credit cards to fund Neteller, IGM-pay etc. so the title of this thread may be a tad alarmist

[Pog0]

I thought that all this legislation was to prevent funds from going FROM your account TO the internet with no effort made to prevent it in the other direction. Money taken out of the internet can't be gambled, so why would they stop that?

[cpk]

They were talking about using the fine print in their account agreements to allow for closing accounts involved with gambling sites. So, yes, it is something to be concerned about.

[Pog0]

[ QUOTE ]
They were talking about using the fine print in their account agreements to allow for closing accounts involved with gambling sites. So, yes, it is something to be concerned about.

[/ QUOTE ]

Who's they? The government right? Which accounts were they talking about closing, the regular bank accounts that have been assosiated with neteller or the neteller accounts?

Either way, you can't be punished for your gambling activity that occurs BEFORE the bill is passed, so there should be some sort of window of opportunity to clean yourself up if the bill passes... and if that's actually an option to consider.

[cpk]

[ QUOTE ]
[ QUOTE ]
They were talking about using the fine print in their account agreements to allow for closing accounts involved with gambling sites. So, yes, it is something to be concerned about.

[/ QUOTE ]

Who's they? The government right? Which accounts were they talking about closing, the regular bank accounts that have been assosiated with neteller or the neteller accounts?

Either way, you can't be punished for your gambling activity that occurs BEFORE the bill is passed, so there should be some sort of window of opportunity to clean yourself up if the bill passes... and if that's actually an option to consider.

[/ QUOTE ]

No, these BANKERS are talking about modifying the account services agreement for their banks to prohibit using the account to fund gaming sites, making that grounds of closing your account.

If other banks follow suit, it won't take Federal legislation to inhibit online gaming. You won't be able to fund your Party account without sending a money order to Gibraltar.

[DING-DONG YO]

Be scared guys. Mastercard and Visa already don't allow it. Only a matter of time before banks follow suit.

And cpk is right, this has nothing to do with Congress or the gubment. It is a business decision by each bank and yes they can do it.

I use a small credit union so hopefully they won't clue into this until late. For those of you at big banks (BOA, Suntrust, etc.), can you use the major services listed above?

[SamG]

[ QUOTE ]
I use a small credit union so hopefully they won't clue into this until late. For those of you at big banks (BOA, Suntrust, etc.), can you use the major services listed above?

[/ QUOTE ]
I'm with SunTrust. It's been a few weeks since I cahsed out, but I had no problems with either NETeller or IGM-Pay withdrawals to my bank account.

[jthegreat]

I highly doubt BoA would ever stop transfers to NETeller. NETeller is used for things besides poker (by some people, I guess).

[mdrudeen]

[ QUOTE ]
No, these BANKERS are talking about modifying the account services agreement for their banks to prohibit using the account to fund gaming sites, making that grounds of closing your account.

[/ QUOTE ]

How do you know that theses are BANKERS? and what does that even mean? Certainly someone with actual policy decison making power for a large national bank( I use Washington Mutual) isn't discussing ammeneding customer agreements on the board linked by OP.

I just think people are jumping to some pretty drastic conclusions based on some odd message board postings