The official NETELLER thread. (138 days on.) #2 of 3.

[ALLEN BOND]

If anyone still has any hope...

[NU Star]

Oh, yeah, this site has my money!

[Capitola]

[ QUOTE ]
Hasn't the waiting period for the next Neteller announcement up? Not sure, but wasn't it 70 some odd days from early March? Could really be appreciative of some news (good or bad) about my 2k that is stuck there.

[/ QUOTE ]
The 75-day deadline for releasing "The Plan" expires somewhere around June 5.

I have at least 80% confidence that Neteller will, slowly but surely, return all funds to US players. Say what you want about their level of customer (dis)service during this fiasco, but they were working in a difficult and evolving situation which was mostly outside their control. They have promised to return funds and they have set a timeline. The timeline is still intact, and the company is still in operation. Given all of that, I don't see why people are so quick to assume the worst.

If they start missing deadlines, then I might worry.

[kiddj]

[ QUOTE ]
[ QUOTE ]
Hasn't the waiting period for the next Neteller announcement up? Not sure, but wasn't it 70 some odd days from early March? Could really be appreciative of some news (good or bad) about my 2k that is stuck there.

[/ QUOTE ]
The 75-day deadline for releasing "The Plan" expires somewhere around June 5.

I have at least 80% confidence that Neteller will, slowly but surely, return all funds to US players. Say what you want about their level of customer (dis)service during this fiasco, but they were working in a difficult and evolving situation which was mostly outside their control. They have promised to return funds and they have set a timeline. The timeline is still intact, and the company is still in operation. Given all of that, I don't see why people are so quick to assume the worst.

If they start missing deadlines, then I might worry.

[/ QUOTE ]
Actually, they made the agreements with USAO and Navigant on March 20th. I think that puts the 75 days at June 3rd, which is this Sunday. They stated that the plan would be released "within" 75 days.

Anyone dare to speculate? Hope? Cry? Dream? Vent?

____________

Edit/MH: Neteller Press Release re March 20th agreements.

[Hiiiiiiii]

I could really use my neteller money right now [img]/images/graemlins/frown.gif[/img]

[willpower101]

ok, after catching a glimpse of all this, (hadn't been on the forums in 6 mo or more) i went to neteller and requested a withdrawel to Bank of america. It said it was processing and everything seemed normal. (Is this normal or should i have recieved some kind of frozen account warning?)

Then i noticed a post where it said the US had been seizing ach transfers!
A. Should i cancel my transfer while i still can?
B. Is there anyway for me to transfer my money to a poker site (or several) that still accept neteller, play, then cash out to epassporte, request a check, or sign up for another service?

[holdme]

bump because it's day 75

[Capitola]

[ QUOTE ]
bump because it's day 75

[/ QUOTE ]
Day 75 is almost over already in Netellerland. Hopes that they will meet the deadline are fading ....

[directscooter]

Sorry if this has been posted already.... looks like we have alittle longer to wait but sounds good.

Press Release
NETELLER Announces Agreed Plan to Return US Customers’ Funds


Monday, 4 June 2007 – The NETELLER Plc Group (LSE: NLR), the independent global online payments business, today announced that it has agreed to a plan for the distribution of funds to its US customers.

NETELLER is continuing to cooperate with the investigation being conducted by the United States Attorney’s Office for the Southern District of New York (“USAO”), under the advice of its legal advisers and in accordance with court orders in the Isle of Man. The Company is in discussions with the USAO for the purpose of resolving the investigation. The Company has advised the USAO that it will use its best efforts to resolve the investigation no later than 13 July 2007.

On 21 March 2007, the Company announced that it signed agreements with the USAO and Navigant Consulting, Inc. (“Navigant”) with respect to, among other things, developing a plan for the distribution of funds to US customers. Since then, in accordance with the agreements, the Company has worked with the USAO and Navigant to develop the plan. The Distribution Plan is now agreed upon, and the Company anticipates implementing the plan upon the resolution of the investigation.

The agreed Distribution Plan details the process and mechanisms for the return of funds to US customers. US customers will be able to access their NETELLER accounts online for a certain time and make a request for their funds. In accordance with NETELLER’s Terms of Use, no interest on account balances will be paid. NETELLER will not charge fees to customers to process requests for funds. Funds will be distributed either by electronic transfer to the bank account on record with NETELLER or by a cheque to be sent to a mailing address as confirmed by the customer. If a US customer has a bank account already registered with NETELLER, funds transfer will be by electronic transfer subject to confirmation by the customer that the registered bank account remains valid. US customers will receive the entire balance of funds in their account; no requests for partial payments will be processed. US customers cannot use their accounts for any transaction other than to request the funds.

Further information will be communicated to NETELLER’s US customers via email, through our website and through a press release once the date for implementation of the Distribution Plan is finalised.

Ron Martin, Group President and CEO said: “The agreement on the Distribution Plan represents a milestone in our cooperation with the US authorities. While we are disappointed not to have been able to return funds to our US customers at this point, we believe that the steps we have made in our discussions are significant and we hope to be able to announce further progress with the USAO by 13 July 2007.”

The Company continues to work with Navigant to produce a report to the USAO on the Company’s current financial condition. On 8 February 2007, the Company informed the market that approximately $55 million had been seized by the USAO or otherwise restricted by third parties. After ongoing consultation with the USAO, the Company currently believes this amount could be up to approximately $60 million.

The Company’s shares continue to be suspended from trading on AIM in view of the continuing uncertainties the Company faces although the Company is making progress towards achieving restoration of trading. The Company is also working towards the finalisation of its audited annual results for the year ended 31 December 2006 and will announce the date on which these will be published to the market in due course. NETELLER customers not resident in the US continue to be minimally affected by the withdrawal from the US market.

Further information is available on the Group’s website in the form of updated FAQs.


About the NETELLER Group
Trusted by millions of consumers in over 160 countries to move and manage billions of dollars each year, the NETELLER Group operates the world's leading independent online money transfer business. The Group specializes in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed the Group to support thousands of retailers and merchants in many geographies and across multiple industries.

The Group is quoted on the London Stock Exchange’s AIM market, with a ticker symbol of NLR. NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about the Group visit www.netellergroup.com.

Media and Investor Contacts
NETELLER Group media and investor relations are managed by Citigate Dewe Rogerson. Contact them through the Media Relations Contact page.

[kiddj]

Once I get my Neteller $, I think I owe it to myself to spend some of it on hookers and blow. [img]/images/graemlins/grin.gif[/img]

The rest will be used to pay on my student loan.