Neteller to stop making transfers to merchants in 12 hours

[dlk9s]

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It will be very interesting to see if this is true or just rumormongering.

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It's true.

[jaminbird]

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They will stop making transfers to merchants but you should be able to cash out no problem after they stop. The rumor is you will have 2 weeks but have no confirmation on that.

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By cash out do you mean

neteller-->bank account
or
merchant-->neteller

[DING-DONG YO]

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They will stop making transfers to merchants but you should be able to cash out no problem after they stop. The rumor is you will have 2 weeks but have no confirmation on that.

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By cash out do you mean

neteller-->bank account
or
merchant-->neteller

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I'm hoping it means both

[Rigel]

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Just heard from an inside source that Neteller will stop making transfers to merchants in less than 12 hours, but they won't be closing accounts for now. Apparently epassport, instadebit and ATMonline are about to get big. Well that, or people just stop playing. [img]/images/graemlins/crazy.gif[/img]

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I think it's more likely that the end result of this will be that people start sending checks directly to online poker sites. Everyone is expecting that the new regs, once released, won't place the burden on US banks to verify that individual checks aren't being sent to gambling establishments.

Having said that, I think it's very plausible that the new regs might provide for an up-to-date list of e-money sites that do business with casinos. The regs could provide that US banks can't send wire transfer to such e-money sites.

The new law does have teeth, but like I said, they won't be able to stop us from sending checks directly. No, it's not convenient but people do it all the time when paying bills.

[OldYoda]

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anyone taking money out of stars now to avoid a headache later?

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Something is definitely up - I checked Neteller's site and no info there. But I went to Stars cashier and it indicates that the Neteller Instant Transfer from your bank account function is disabled, although normal Neteller transactions are not affected.

I went in the other direction, action44. I transferred my remaining Neteller balance, a significant sum into my Stars account. Probably the safest spot for it outside of my bank or my pocket, IMO. I have confidence that my money will be safe and available in some manner at Stars

[Karak567]

If one has money in Neteller and poker sites such as WSEX and Pokerstars, then what is their play right now?

(assuming this is true)

[Jenno99]

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US customers only, or all customers?

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[Rigel]

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I went in the other direction, action44. I transferred my remaining Neteller balance, a significant sum into my Stars account. Probably the safest spot for it outside of my bank or my pocket, IMO. I have confidence that my money will be safe and available in some manner at Stars

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Ditto here. A couple of nights ago I transferred about 5k into Pokerstars and FTP. I play pretty low limits, so that should do me for a LONG time and hopefully forever since I hope to win, of course.

[dlk9s]

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[ QUOTE ]
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They will stop making transfers to merchants but you should be able to cash out no problem after they stop. The rumor is you will have 2 weeks but have no confirmation on that.

[/ QUOTE ]

By cash out do you mean

neteller-->bank account
or
merchant-->neteller

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I'm hoping it means both

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Unless there is a huge shocker, Neteller funds are perfectly safe. They keep 110% of players deposits segregated from their company funds, so I am sure they will allow players to withdraw before closing accounts. I suppose the big question will be whether or not customers will be able to cashout of poker rooms to Neteller for a set period of time.

[HSB]

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It will be very interesting to see if this is true or just rumormongering.

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It's true.

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How do you know?