Neteller P2P Risks & Best Practices

[PeterWellington]

First of all I just want to say this is an awesome group of people here. I just signed up recently in light of all the Neteller happenings and have really been impressed how everyone's come together and helped each other out...which brings me to some questions I have.

Is there a consensus as to what the safest and cheapest way is to get your money out Neteller if you're a U.S. customer? I've read what some people are doing but have some concerns.

-Assuming I had a non-U.S. friend deposit my money into some poker accounts, how much action do these web sites expect (% of deposit) before they'll cut you a check if you're a new customer? I'm not a poker play so I don't want to blow a bunch of money trying to meet wagering requirements.

-Neteller has started freezing/closing non-U.S. member accounts for putting U.S. customer money into gambling sites. If I don't want my friend to risk getting his account closed, I could have him put this money in his bank account and then find another way to get it to me. What's the best method to do this? Is there any way to avoid a bunch of fees (namely currency conversion)? Most importantly, will moving around $20K (if split up into smaller transactions) raise any red flags with the government or payment processor? My friend is a Canadian resident but goes to school in the states and I don't want to put him at any kind of risk.

Thank you for any ideas you have.

[NewGuy]

First, NETeller has confirmed in the last day or so that US member-to-non-US member transfers are permitted, so no issue there.

Since this is a friend, I'd suggest that you avoid having him deposit onto a gambling site. They will very likely close/lock his account. It would probably be re-opened, but if this is really a friend save him the headaches.

I'd suggest that you ask him to move your funds from his NETeller to his bank and then cut you an old-fashioned cashier's check. Some people have done a PayPal transfer but there are costs there as well.

Good luck.

[PeterWellington]

Thanks for the suggestions NewGuy.