No more P2P at Neteller for US-customers

[CostaRicaBill]

I have a good amount of money stuck in Neteller, I am in Costa Rica, and I have non us friends who have neteller accounts, is it now impossible to get this money out through transfers?

[fleece_me]

This is what getting stiffed feels like.

[Statutory]

"Your account has been closed."

EV of my $35K now?

[metsandfinsfan]

i logged in just to check. My account is still open but it is uncertified ... i guess all US accounts are uncertified. I have no money in there, and 27 neteller points so i guess they figured they didnt have to close it.

[metsandfinsfan]

they do have balls

[ QUOTE ]
Why can't I perform Peer-to-Peer transfers anymore?
In order to ensure that US members do not use NETELLER with the intent to gamble online, NETELLER is no longer offering its Peer-to-Peer service in the US.
Why isn’t my account certified anymore?
US member accounts have been temporarily de-certified to revoke Peer-to-Peer capabilities. These accounts should be automatically re-certified in the next 10 business days, but Peer-to-Peer transfers will no longer be available to US members.
Why has my NETELLER account been closed?
If you recently performed a Peer-to-Peer transfer, your account may have been temporarily closed. Your account should be automatically re-opened within 5 business days, but you will no longer be able to perform Peer-to-Peer transfers.
How can I withdraw funds from my NETELLER account?

As a top priority, we are working to resolve all withdrawal issues, but in the meantime we continue to maintain these funds in trust on your behalf. Please check this page regularly for more updates.


[/ QUOTE ]

By the way, is the stock still frozen? And they were allowed to freeze the stock wtf!!!! The stockholders should be outraged

[Imtalkingnow]

This clause from the NT TOS sucks even more

14. Limiting Access or Terminating your Account

14.1 At our discretion, we may suspend or limit access to your Account (including without limitation, placing a hold on funds in your Account, limiting your ability to send or redeem, transfer or withdraw electronic money from your Account, limiting your payment sources) or terminate your Account, at any time and for any reason, including but not limited to the following:


cant believe i was stupid enough to agree to this. seems we all agreed to be screwed when we signed up.

[leehrat]

[ QUOTE ]
This clause from the NT TOS sucks even more

14. Limiting Access or Terminating your Account

14.1 At our discretion, we may suspend or limit access to your Account (including without limitation, placing a hold on funds in your Account, limiting your ability to send or redeem, transfer or withdraw electronic money from your Account, limiting your payment sources) or terminate your Account, at any time and for any reason, including but not limited to the following:


cant believe i was stupid enough to agree to this. seems we all agreed to be screwed when we signed up.

[/ QUOTE ]

unconscionability, contract of adhesion, etc. there are at least a few ways to fight back at that if you desired. not every contract is binding by virtue of your signing/agreeing to it.

[metsandfinsfan]

I wish the stoxtrader and William threads were unlocked

[Post-Oak]

[ QUOTE ]
Have you even taken a look at their financials?


[/ QUOTE ]

Admittedly, no. I was looking for it earlier and got side tracked. Thanks for this link.

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If you can read a set of financials you will know that there is no reason to be concerned that they don't have the cash or are going to file bankruptcy.


[/ QUOTE ]

Huh? I already went over this. ACLN LTD was traded on the NYSE (yes, the New York Stock Exchange). A branch of KPMG (happens to be Neteller's accountants) signed off quarter after quarter that they had $100M in the bank. They had nothing. Again, this was not some [censored] AIM stock, but a NYSE stock. Their reports were filed with the SEC, and you clowns want to talk about the [censored] FSA.

[ QUOTE ]

Getting the cash to you in a manner that our government will allow is another matter.


[/ QUOTE ]

When has Neteller communicated that this is the problem? Why would they not allow people to peer to peer transfers if this was the only issue? They would make a great deal of money on these xfers, with no legal risk.

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And what reason do you have to scream accounting scandal? I see no reason and bet that you can't come up with one truly valid reason.


[/ QUOTE ]

I've already given the obvious reason, but you haven't caught on yet. Something stinks - the excuses they are giving for not allowing withdrawals/paper checks/transactions with non-gambling merchants/peer to peer xfers simply do not add up. Try to use a little bit of common sense here. Something stinks here.

[ QUOTE ]

And you speak of liquidity problems. Please tell me one investment that qualifies as a cash or cash equivalent that is not liquid within hours?


[/ QUOTE ]

You just don't get it, do you? Perhaps what you see on that paper is not true? Maybe they put some of that trust money into CDs in order to make some extra profit on the float? Who knows, I am just making this up. What is clear is that they are having some kind of problem with this big run on the bank. This is obvious from what we are experiencing, and the ridiculous lies/excuses we are being told (i.e. their processor is backed up, they are afraid p2p xfers will result in US customers being able to get money on gambling sites, they protect the identity of their merchants, etc.).

Wake up.

[ QUOTE ]

In other words, STFU when you have no clue what you are talking about.

[/ QUOTE ]

It's pretty obvious what is going on here. You're just too dumb to see it. This same thing happened when I was watching hedge funds short the [censored] out of ACLN and the shareholders were screaming that their claims couldn't possibly be true due to:

- NYSE oversight
- SEC oversight
- a strong buy rating from Merryl Lynch
- KPMG signing off on the SEC filings

It turns out this company was a complete scam. Again, I am not saying that Neteller is a scam, what I am saying is that SOMETHING STINKS and it should be pretty obvious that they have liquidity problems. You can trust the numbers written on a paper, and I will go with common sense.

Once again, I think that we will PROBABLY get all of our money back. That is not exactly cause to celebrate. Something is clearly wrong here, even if you are too much of a rank sucker to see the writing on the wall.

[billmagnet]

Nice post. Though I have no confidence of the neteller monies every finding their way home.