Neteller Update...

[LetsGambool]

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Hi all,

Just had a chat with Neteller, and wanted to share. Dont know if anyone is in my situation, so take it for what its worth.

My situation is I had deposited $5000 on Sunday, the money is no longer in my bank account but the EFT is still pending. No sweat, this usually takes a week, but wanted to check whether there would be a problem....last answer is not encouraging.

Marcella: Hello.
xxx: Hello Marcella
Marcella: We are experiencing some major delays right now.
xxx: OK, Im talking about the transaction I made on Sunday where the money has already left my bank account.
xxx: Will that $5,000 still appear in my Neteller account in a reasonable timeframe given the money has left my account? Understand that there are delays around withdrawals right now.
xxx: Are you still there?
Marcella: Sorry, I cannot say when the funds will reach your NETeller account. We are trying our best to get some answers.
xxx: Where is the money then? Because the funds have already left my bank account. Is there any way to reverse the transaction?
Marcella: Unfortunately we cannot reverse right now. We are wiating for updates.
xxxx: Wow. OK, so I just dont have my $5000 then, that's unfortunate.
xxxxx: Is the problem that third-party processors will not do business with Neteller right now or is there a liquidity issue?
Marcella: You can view any updates at http://updates.neteller.com.
xxxxx: Yeah, Ive read that, none of that helps answer my question. Frustrating, I know you guys are in a tough spot here, but frustrating on my end since the money is out of my account and is apparantly going to disapper into the ether.
Marcella: We don't know what is going to happen at this point. We are waiting for updates.
xxxxx: Can you assure me I will be paid in full?
Marcella: I cannot make any promises.

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Sounds like a 24-tabler.

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Nah, Mid-level recreational player. You definitely dont want me losing access to that cash [img]/images/graemlins/tongue.gif[/img]

[bb88]

Talked to VIP services again and they confirmed it WILL be 2 weeks for an EFT, 6-8 weeks for a paper check.

He recommended I use my Neteller card to withdraw, I have a Neteller balance of about $3500 so that's what I'm going to do.

$1000 limit per day from Neteller to card
$1200 limit per day from ATM machine per card
3 ATM withdraws per card per day
$1.50 fee per withdraw (from card issuer)+whatever fee the machine charges
$2 fee per withdraw.

So I paid $5 to withdraw $1000, it could be worse. I have the $1000 cash in my hand right now, so I'm not too worried about Neteller screwing me for the other $2500.

[Suerte]

this is horrible

[LetsGambool]

Just as an FYI, I spoke to someone else at Neteller just now who told me that my EFT deposit to Neteller should still clear in the normal time period. Not sure if anyone is in the same boat, but given the chat conversation I posted last night, wanted to give an update.

[Crosby]

I'm one of the people who fired off EFT transfers before this went down, but the transfers say accepted and the money isn't pending or available in my other bank account. When I called them, I was told since I started the transfers on the 16th, they would be available in a couple days. Is this definitely BS and it will be 2 weeks? Also, my understanding is that the reason for the delay is their third party processor for EFTs (which is what the rep told me on the phone after I asked about it, but she said that wouldn't apply to me based on when I started the transfers). If that's the case, does anyone have any information on precisely why there would be such a delay? I would be less concerned if Neteller had given different people consistent answers, or if I understood precisely what I'm dealing with with this 3rd party delay in terms of risk. It's awkward for so much money to not be shown as existing anywhere. Any thoughts?

[Sniper]

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When I called them, I was told since I started the transfers on the 16th, they would be available in a couple days. Is this definitely BS and it will be 2 weeks?

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You called... you got an answer...

You know wait a couple of days to see what happens... then call again and follow up, if the money still hasn't arrived... at which point, they may tell you 2 weeks... but they might tell you something else...

No real use speculating...

[Sniper]

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-As noted above, today's withdrawal from the US market by NETELLER is the culmination of months of careful planning. Along with this action, the Group is actively assessing what further steps it may take in light of the two arrests made earlier this week to clarify the Company's position in this matter.

-Pending further clarification of this the shares of the Company will remain suspended.

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I just want to highlight this a bit more...

Basically, they have made a statement... which means the news should be properly diseminated... yet they continue to keep their tradable shares suspended... this means (to me) that there is likely additional & material news...

[Crosby]

Fair, I was just hoping to compare responses with other people who EFTed on the same date. Seemed like they were giving radically different responses. Also interested in more details on their EFT third party if anyone happened to have it.

I respect what you're saying about speculation, though, thanks.

[headturner1]

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I'm one of the people who fired off EFT transfers before this went down, but the transfers say accepted and the money isn't pending or available in my other bank account. When I called them, I was told since I started the transfers on the 16th, they would be available in a couple days. Is this definitely BS and it will be 2 weeks? Also, my understanding is that the reason for the delay is their third party processor for EFTs (which is what the rep told me on the phone after I asked about it, but she said that wouldn't apply to me based on when I started the transfers). If that's the case, does anyone have any information on precisely why there would be such a delay? I would be less concerned if Neteller had given different people consistent answers, or if I understood precisely what I'm dealing with with this 3rd party delay in terms of risk. It's awkward for so much money to not be shown as existing anywhere. Any thoughts?

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I started mine on Jan. 13th and I still have yet to receive the money to my checking account. It said that it was accepted on Jan. 16th and my NT account balance has been zero since that date. Money into the ether. [img]/images/graemlins/crazy.gif[/img]

[Sniper]

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Fair, I was just hoping to compare responses with other people who EFTed on the same date. Seemed like they were giving radically different responses. Also interested in more details on their EFT third party if anyone happened to have it.

I respect what you're saying about speculation, though, thanks.

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My understanding is the 3rd party processors they are having trouble with are those listed in the complaint against the founders, but it may be more complex than that. The DOJ basically went after their weakest link...