Neteller Update...

[jrz1972]

Sure, one alternative is to go through the hassle of opening a foreign bank account so you can keep using Neteller.

Another alternative is to just go with another ewallet. That seems seems a lot simpler to me.

[Beavis68]

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You over-estimate the abilities and capacities of the Banks in Antigua.

A more likely scenario is a spin-off of the US facing business, operated through a Banking facility in the Mediterranean ..... Ironic how this "anti-terrorism" Act is driving cashflows closer to a Middle Eastern sphere of influence.

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Well, I wouldnt be surprised if I were wrong either, but since Pokerstars seems to be able to function in spite of this law without pressure from whomever is holding it's money to comply with US regulations, it seems that Neteller may be able to find a similar situation.

We would still have to be able to get our money from our bank TO neteller but if I can transfer from site to site, and I will still be fairly happy.

[I_C_ALL]

1. Its not a hassle
2. Why would I still use Neteller through a foreign bank?
3. Good excuse to go to the islands [img]/images/graemlins/tongue.gif[/img]

[dragonystic]

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Of course, the USA could come after you if they deem you are gambling and decide to prosecute...

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Why do people keep posting things like this? The new legislation doesn't change the legality of online poker.

[I_C_ALL]

Dude, don't take my [censored] out of context. Read the rest of the paragraph. It was obviously meant for "chicken littles" and morons like you to respond to. I was simply stating it was a POSSIBILITY as remote as its likely hood of happening may be. Every government official's response has indicated they believe online poker is already illegal so prosecution, though to my knowledge has not happened before and a very small chance of happening, is a possibility. If you read my response, I was indicating it was NOT a concern of mine. I can only imagine what your other 6 posts were about. [img]/images/graemlins/tongue.gif[/img]

[greg nice]

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I guess I should use my points to enter those drawings soon.

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just used all 5m of mine last week and for month of oct

[4_2_it]

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I guess I should use my points to enter those drawings soon.

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just used all 5m of mine last week and for month of oct

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Guess I'll wait until November [img]/images/graemlins/grin.gif[/img]

[adios]

Simple fact, Neteller doesn't know what it has to do to comply with the law. The situation will remain unclear as long as the new regulations are on the drawing board. Until that time, there's not really much they can or will do IMO. It's a standard boiler plate warning.

I would guess that Neteller is anticipating some sort of regulation that U.S. banks can't do any direct transactions with any entities that do direct transactions with entities that run "gambling" sites. Seems complicated doesn't it? In other words, I'm guessing that Neteller is anticipating the regulations to state that if an e-wallet has direct transactions with a "gambling" site, U.S. banks will not be able to do direct transactions with that e-wallet.

As I've stated several times, I'm fairly certain that the U.S. government will try to make U.S. banks quasi regulators. How far will U.S. banks have to go to make sure that the money leaving the bank is not going to a "gambling" site? I'm sure the U.S. government would like to put as much responsibility as they possibly can on U.S. banks for making sure it's not going to a "gambling" site. I'm also fairly certain U.S. banks will try and have that responsibility limited as much as possible. BluffThis's workaround I think is probably going to be viable more or less. It's just a question of how many people want to jump through the hoops so to speak IMO.

[vinyard]

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\As I've stated several times, I'm fairly certain that the U.S. government will try to make U.S. banks quasi regulators. How far will U.S. banks have to go to make sure that the money leaving the bank is not going to a "gambling" site? I'm sure the U.S. government would like to put as much responsibility as they possibly can on U.S. banks for making sure it's not going to a "gambling" site. I'm also fairly certain U.S. banks will try and have that responsibility limited as much as possible. BluffThis's workaround I think is probably going to be viable more or less. It's just a question of how many people want to jump through the hoops so to speak IMO.

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My emphasis in bold: This ignores at least the last four decades of federal regulation of the banking sector. The Federal govt. even under Carter has shied away from increasing expenses and regulation for banks. The banking lobby in this country is mammoth; its niave to expect that they will deliberately increase their own expenses at the cost of their bottom line.

PS If somebody could link me to Bluffthis! workaround I would appreciate it.

[5thStreetHog]

Its kind of obvious neteller will eventually fold.I,im sure like others,have used neteller exclusively since i started playing poker online.I was thinking about firing up a new ewallet service.I know this is all speculation,but in your mind`s what service would you think would have the best odds of staying the course through all this nonsence?Click2Pay?EPassPorte? other?Like i said,i realize this is all guesswork,just would like to hear some thoughts on the options currently available.Obviously,companies could appear to fill this "neteller" void as well.But as the landscape exists now,who looks like the frontrunner to stay in this fight?