Neteller Update...

[Sniper]

Link to Official Neteller thread in the Zoo

If you have something to say about Neteller, please use this thread or that one, instead of creating new threads.

[oakley77]

MyWebATM is a new deposit option from fulltilt, maybe this will be a good alternative to use instead of neteller. seems like it works the same way

[billmagnet]

[ QUOTE ]
MyWebATM is a new deposit option from fulltilt, maybe this will be a good alternative to use instead of neteller. seems like it works the same way

[/ QUOTE ]

Works the same way in that they withold billions in US deposits?

[gone.flying]

A few thoughts:

I don't believe that liquidity is the issue here yet , it's likely that NT are solvent at the moment, but a company that loses 80% of its business overnight will rapidly face very pressing, if not insurmountable, solvency problems.

Imho. this situation is not going to come good in 6 weeks or 12 weeks if ever. With every day that passes the problems NT faces become compounded.

I've been through one of these meltdowns before albeit on a much much smaller scale with a Nasdaq small cap - I sold my UK company to a Nasdaq small cap a few weeks week before 9-11 - end result was I lost over $8m and the company - the lawyers and merchant bankers fiddled while Rome burned. Some of the NT names/associations are unfortunately very familiar to me. In short, it's a fair bet that the decisions at NT are being driven by capital markets advisors and lawyers - the company is effectively in a state of near paralysis.

Any spill-over into the NETeller Ex-US customer base will kill the company very quickly, and money in trust will be tied up while administrators sort out the mess with the net result that creditors will be lucky to see 5 cents on the dollar. Insolvency and Administration services are costly Whilst IP's have a duty to creditors, their fees are preferential.

I've posted the direct line number for NT customer service manager, calgary, on another thread in the zoo for those that might be interested.

The recent quote from Neteller 'spokesman' George Cazenove saying that 'the situation at Neteller is confused' is risible. George is an associate director (i.e. not even a full time employee) for citigate-DR, a capital markets PR company contracted by Neteller and many other public companies. What George is really saying is that NETeller is not telling its PR company anything.

[Zag Nutz]

[ QUOTE ]
A few thoughts:

I don't believe that liquidity is the issue here yet , it's likely that NT are solvent at the moment, but a company that loses 80% of its business overnight will rapidly face very pressing, if not insurmountable, solvency problems.


[/ QUOTE ]

If you looked at their income statement you would realize that your statement is false.

Weren't you spamming just last week, with a post count less than 20, about helping people transfer money? You've built your post count up and added an avatar, and now you wrap some window dressing around your offer to help people?

Nice evolution towards a slicker approach, but a crappy/shady offer with a bow on top is still a piece of crap.

[gone.flying]

[ QUOTE ]
[ QUOTE ]
A few thoughts:

I don't believe that liquidity is the issue here yet , it's likely that NT are solvent at the moment, but a company that loses 80% of its business overnight will rapidly face very pressing, if not insurmountable, solvency problems.


[/ QUOTE ]

If you looked at their income statement you would realize that your statement is false.

Weren't you spamming just last week, with a post count less than 20, about helping people transfer money? You've built your post count up and added an avatar, and now you wrap some window dressing around your offer to help people?

Nice evolution towards a slicker approach, but a crappy/shady offer with a bow on top is still a piece of crap.

[/ QUOTE ]
thank you so much for your well researched and carefully constructed comments.

Yes, I am a low count poster, we all had to start somewhere.

Yes, like others, I helped out a number of people with peer to peer, and they were very grateful.

Yes, I did make some money doing those peer to peers, for which I am grateful, and for which, those who got their funds out were also happy.

No, I have not spammed the forums, check my posts - I've researched and provided a variety of potentially useful info re neteller - you want the name and direct phone number for Neteller Customer Service Manager in Calgary - I posted it.

You want to know who George Cazenove is and what his connection to Neteller is, I posted it.

You want to know more about Neteller subsidiaries and their direct phone numbers - I posted it.

Yes, Neteller makes little secret of the fact that 80& of its business is US based. It doesn't take a genius to understand that when you have an infrastructure in place to deal with that volume of business, and suddenly that turnover is no longer there, the effects are profound.

Do you really believe that Neteller will continue to keep most of its 700 odd support staff on in Calgary?

Do you really think the FSA is actually going to do anything? It's an advisory body, not a regulatory one.

I have had a number of very detailed conversations with my NT country manager which leads me to suggest that it might be possible to get some funds out - if you're interested, I'm happy to talk with you about it. If you're not, no probs.

I've had the misfortune to have dealt with Chel.com and some of the very sleazy characters that surrounded that scam - what? you don't see the connection? then you are way behind the curve & under-informed.

Your contribution sir? slanderous accusations, snide comments and zero substance - shooting the messenger isn't going to fix this problem.

Just carry on - pop your head back in the sand and dream on sir.

[BluffTHIS!]

g-fly,

You didn't address his assertion that your statement as to NT's current state of liquidity is false based on their income statement. I'm sure he piled on the other stuff only because of that.

[gone.flying]

[ QUOTE ]
g-fly,

You didn't address his assertion that your statement as to NT's current state of liquidity is false based on their income statement. I'm sure he piled on the other stuff only because of that.

[/ QUOTE ]

I agreed with him that NT is almost certainly liquid at this time, and suggested that with 80% of their turnover going awol, with potential DoJ action to fight etc, that such liquidity may be short lived - I cannot for the life of me see how anybody could disagree - lol, even the Sultan of Brunei had serious liquidity problems when Prince Jafri ran amok with the royal coffers (check out Amadeo Development Corporation).

I'm quite happy for him to disagree - we are all entitled to our opinion, it's his attitude that disserves him.

And if he wants to bet that NT will come through within 26 weeks or less, I'd be happy to take the prop

[*TT*]

[ QUOTE ]
A few thoughts:

I don't believe that liquidity is the issue here yet , it's likely that NT are solvent at the moment, but a company that loses 80% of its business overnight will rapidly face very pressing, if not insurmountable, solvency problems.

Imho. this situation is not going to come good in 6 weeks or 12 weeks if ever. With every day that passes the problems NT faces become compounded.

I've been through one of these meltdowns before albeit on a much much smaller scale with a Nasdaq small cap - I sold my UK company to a Nasdaq small cap a few weeks week before 9-11 - end result was I lost over $8m and the company - the lawyers and merchant bankers fiddled while Rome burned. Some of the NT names/associations are unfortunately very familiar to me. In short, it's a fair bet that the decisions at NT are being driven by capital markets advisors and lawyers - the company is effectively in a state of near paralysis.

Any spill-over into the NETeller Ex-US customer base will kill the company very quickly, and money in trust will be tied up while administrators sort out the mess with the net result that creditors will be lucky to see 5 cents on the dollar. Insolvency and Administration services are costly Whilst IP's have a duty to creditors, their fees are preferential.

I've posted the direct line number for NT customer service manager, calgary, on another thread in the zoo for those that might be interested.

The recent quote from Neteller 'spokesman' George Cazenove saying that 'the situation at Neteller is confused' is risible. George is an associate director (i.e. not even a full time employee) for citigate-DR, a capital markets PR company contracted by Neteller and many other public companies. What George is really saying is that NETeller is not telling its PR company anything.

Having said all this, I believe I may be able to help those with 5+ figure balances <u>($40k plus only)</u> get some of their money - it might be worth a conversation - please pm me and we can take the discussion off line.

[/ QUOTE ]

I find nothing wrong with your thought process or your posts, however the bottom part of your post is SPAM - and should not be tolerated.

TT [img]/images/graemlins/club.gif[/img]

[gone.flying]

[ QUOTE ]
[ QUOTE ]
A few thoughts:

I don't believe that liquidity is the issue here yet , it's likely that NT are solvent at the moment, but a company that loses 80% of its business overnight will rapidly face very pressing, if not insurmountable, solvency problems.

Imho. this situation is not going to come good in 6 weeks or 12 weeks if ever. With every day that passes the problems NT faces become compounded.

I've been through one of these meltdowns before albeit on a much much smaller scale with a Nasdaq small cap - I sold my UK company to a Nasdaq small cap a few weeks week before 9-11 - end result was I lost over $8m and the company - the lawyers and merchant bankers fiddled while Rome burned. Some of the NT names/associations are unfortunately very familiar to me. In short, it's a fair bet that the decisions at NT are being driven by capital markets advisors and lawyers - the company is effectively in a state of near paralysis.

Any spill-over into the NETeller Ex-US customer base will kill the company very quickly, and money in trust will be tied up while administrators sort out the mess with the net result that creditors will be lucky to see 5 cents on the dollar. Insolvency and Administration services are costly Whilst IP's have a duty to creditors, their fees are preferential.

I've posted the direct line number for NT customer service manager, calgary, on another thread in the zoo for those that might be interested.

The recent quote from Neteller 'spokesman' George Cazenove saying that 'the situation at Neteller is confused' is risible. George is an associate director (i.e. not even a full time employee) for citigate-DR, a capital markets PR company contracted by Neteller and many other public companies. What George is really saying is that NETeller is not telling its PR company anything.

Having said all this, I believe I may be able to help those with 5+ figure balances <u>($40k plus only)</u> get some of their money - it might be worth a conversation - please pm me and we can take the discussion off line.

[/ QUOTE ]

I find nothing wrong with your thought process or your posts, however the bottom part of your post is SPAM - and should not be tolerated.

TT [img]/images/graemlins/club.gif[/img]

[/ QUOTE ]

Accepted criticism, I have posted this in two threads and thus it is spam.

In mitigtation, I have, and will advise (if that is the correct word) each of those who have pm'd me <u>precisely</u> of the mechanics of my proposed solution and suggest that they may know suitably trustworthy and more conveniently located people who might be able to effect the end they seek.

I'm not even sure that I want the aggravation - it's certainly not a 5 minute, one-phone-call slam dunk, but I'm happy to have the discussion.

How else would you suggest that such a discussion be had? Out here in the open where it can be pre-emptively shot down by NT?