Official Neteller Update Thread Part 2

[Thremp]

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NETeller's U.S. FAQs were updated today. There may be other revisions, but this one is certainly making some people's fur stand up:

What is the Release?
When US members request to withdraw the funds they will be asked to agree to a Release which, in broad terms, is an agreement between NETELLER and the member that each releases the other from potential legal claims. US members do not need to agree to the Release in order to request and receive the payment of funds. However, US members who do not agree to the Release will, in turn, not be released by NETELLER.

Ummm, screw you NETeller? Why should we agree? And what on earth could NETeller sue us for???

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yeah wtf?

anyhwo with this posted, it appears payouts should be coming soon.

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Keep them from dealing with legal BS the Neteller Customer Coalition wants to put together?

I love how they are the "face" of Neteller customers yet can band together 1/940th of the monies that are held.

[Grisgra]

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NETeller's U.S. FAQs were updated today. There may be other revisions, but this one is certainly making some people's fur stand up:

What is the Release?
When US members request to withdraw the funds they will be asked to agree to a Release which, in broad terms, is an agreement between NETELLER and the member that each releases the other from potential legal claims. US members do not need to agree to the Release in order to request and receive the payment of funds. However, US members who do not agree to the Release will, in turn, not be released by NETELLER.

Ummm, screw you NETeller? Why should we agree? And what on earth could NETeller sue us for???

[/ QUOTE ]

yeah wtf?

anyhwo with this posted, it appears payouts should be coming soon.

[/ QUOTE ]

Keep them from dealing with legal BS the Neteller Customer Coalition wants to put together?

I love how they are the "face" of Neteller customers yet can band together 1/940th of the monies that are held.

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Again -- what the hell does it mean to not be "released by NETeller"?

[UATrewqaz]

It's pretty clear they want you to basically agree not to sue them in exchange for getting your money back (it's a good deal you should take it).

Why would they want to have such protection?

Simple, there are lots of "reasons" people would think to try to sue Neteller even after they got their money. Just a few I can think of

1. Suing them for lost interest on large balances, aka "I couldn't get to my money and it cost me thousands in lost interest."

2. Suing them for loss of privacy if you are audited by the IRS "I'm getting audited and it's Neteller's fault because they violated my privacy in turning over my financial records to the IRS.

3. Suing them for "mental suffering", aka "I was so stressed out about possibly not getting my money I deserve compinsations"

and so on.

[BigBiceps]

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It's pretty clear they want you to basically agree not to sue them in exchange for getting your money back (it's a good deal you should take it).

Why would they want to have such protection?

Simple, there are lots of "reasons" people would think to try to sue Neteller even after they got their money. Just a few I can think of

1. Suing them for lost interest on large balances, aka "I couldn't get to my money and it cost me thousands in lost interest."

2. Suing them for loss of privacy if you are audited by the IRS "I'm getting audited and it's Neteller's fault because they violated my privacy in turning over my financial records to the IRS.

3. Suing them for "mental suffering", aka "I was so stressed out about possibly not getting my money I deserve compinations"

and so on.

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I don't want any compinations (whatever those are) I just want my money.

[4_2_it]

The big question is what could NT possibly sue a US customer for? I can't see any reason to give up my right to sue unless someone can come up with a concrete reason why NT might see fit to take legal action against its US customer base.

[adanthar]

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The big question is what could NT possibly sue a US customer for? I can't see any reason to give up my right to sue unless someone can come up with a concrete reason why NT might see fit to take legal action against its US customer base.

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absolutely none that I can think of. I'm guessing it's mostly a 'hope this fake threat works so we can deal with slightly less idiots' tactic.

but really, provided we get our money within the next month, there's no reason to sue them and no benefit from it unless you're Isaac Haxton/possibly not even then.

[DMoogle]

Did you guys all miss that it's optional?
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What is the Release?
When US members request to withdraw the funds they will be asked to agree to a Release which, in broad terms, is an agreement between NETELLER and the member that each releases the other from potential legal claims. US members do not need to agree to the Release in order to request and receive the payment of funds. However, US members who do not agree to the Release will, in turn, not be released by NETELLER.

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[ackbleh]

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The big question is what could NT possibly sue a US customer for? I can't see any reason to give up my right to sue unless someone can come up with a concrete reason why NT might see fit to take legal action against its US customer base.

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Disclaimer: I'm as far from a lawyer as you can get.

If there is a way they could sue a customer... and I think it's doubtful there is a way and also doubtful they would choose to ... maybe this is the angle:

1) Neteller's terms of service state that the user is reponsible for knowing the laws in his/her jurisdiction and must use Neteller for only legal activities. (I'm too lazy to check to see that this was the case, but it seems to be a standard CYA inclusion these days)

2) The user knew that online gambling was against the law in his/her jurisdiction, yet still used neteller to withdraw/deposit gambling funds in violation of the law

3) As a direct result of the users' actions, Neteller got screwed by the justice department, causing significant financial damages, loss of future business, etc. In theory neteller lost all of their non-gambling customers in the US, if they ever had any.

4) Users are thus responsible for reparations for the fines, lost business, etc caused by their violation of the terms of service.


There would be so many downsides to Neteller taking legal action along these lines that my head hurts thinking about them all. But unless you had some fairly large (six figure+) amount frozen in neteller all this time, it's hard to imagine that an individual could sue and get any kind of judgement that justified legal costs. Class action suits just make lawyers rich and typically result in settlements that get each of us a coupon for a free soda with purchase of a large pizza, or a $5 check if we fill out 30 mins worth of forms, or some stupid crap like that.

I'll agree to the release because I know I've not suffered damages that make it worth my while to sue Neteller, so I'm not giving up anything there. I'm freerolling on any potential gains I get by their release. They, of course, probably feel the same way.

[oldbookguy]

I thought of that angel as well, however, NT knew the chances and laws when offering the service in the U.S., read the prospectus when they went public.

There was something about U. S. laws possibly affecting the business model, though I doubt they actually thought arrest was in the cards.

obg

[ooooo]

Now if we sign the Release and we don't get are money - is that it? we have no way to get it back??