Neteller good news - Page 8

Sniper · #71 02-25-2007, 03:57 PM

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Whatever DOJ is, and whyever Federal Bureaus would hack Neteller, but so the money which is just lying around there is not in danger and can be transmitted to any pokersite anytime? ^^

Thats just all i need to know.

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If you are not a US player, and you don't have a US Bank acount, then you should not be concerned... unless you simply want to show sympathy to your American friends!

stefros · #72 02-25-2007, 04:03 PM

Alright, thanks alot [img]/images/graemlins/wink.gif[/img]

ps: i have no american friends [img]/images/graemlins/frown.gif[/img]

StellarWind · #73 02-25-2007, 04:39 PM

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If you are not a US player, and you don't have a US Bank acount, then you should not be concerned... unless you simply want to show sympathy to your American friends!

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Old children's riddle: Sixteen blackbirds are sitting on a fence. The farmer shoots one. How many blackbirds are left on the fence? Answer at the end.

It doesn't take a financial genius to see that Neteller is facing a life-threatening business crisis. Assets seized, stock not trading for weeks, customer service in ruins, permanent loss of most of their business base, unable to transact with many important financial institutions, and likely criminal prosecutions and civil actions by the U.S. government.

There is an excellent chance that at some point Neteller management will buy their way out of trouble by settling the charges for some unbelievable amount of money. Then we'll see just how untouchable customer funds truly are.

Neteller is a heavy favorite to be destroyed. Will there be enough money after seizures, operating losses, and fines/settlements to payoff all creditors and account holders in full?

Right now non-U.S. account holders are ahead of U.S. account holders because we're frozen and you aren't. That situation is unlikely to last. The U.S. government is not likely to structure a settlement that only takes money from U.S. accounts. Politics and the national interest both dictate otherwise. Nor is a bankruptcy court likely to go along with imposing all the losses on U.S. customers while everyone else is paid in full. Screwing Americans might meet with some of your notions of justice but it's really hard to rationalize in a court of law. Much more likely the losses get divided more evenly. Plus you may discover that accounts aren't legally segregated at all. Other unpaid creditors are likely to ask for a share of your money and they might get it.

Bottom line: non-U.S. Neteller customers should get your money out now. Any other approach is extremely foolish.

Answer to riddle: Zero because the rest flew away. So why are gamblers dumber than blackbirds?

Skipbidder · #74 02-25-2007, 05:08 PM

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I would like to call for Chax to be banned if he cant prove any of his claims. .

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Why? Perhaps he was just performing an idiotic "experiment" to see how we would react. That seems to be embraced by the powers that be on this site.

Sniper · #75 02-25-2007, 10:42 PM

Stellar, while I agree that your analysis is compeling, we will have to agree to disagree on action non-US players should take, at this time.

Neteller was very good to us, for quite some time... and remains the best processor for non-US players!

cardcounter0 · #76 02-25-2007, 11:01 PM

From Gambling911.com:

The employee made reference to news traveling throughout the organization that a handful of high level executives were planning to leave NETeller by month's end.

"All I keep hearing is they're (NETeller) working on finding other processors'...good luck is all I can say. Call center has been slashed by 90%, and at most they have maybe 20 to 40 Customer Service reps left with the company."

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Yeah, things sound like a bunch of roses at neteller.

Sniper · #77 02-25-2007, 11:07 PM

cardcounter, they are downsizing... they have announced this... why does it surprise you that they are reducing their staffing scale to account for the loss of US business?

cardcounter0 · #78 02-25-2007, 11:12 PM

top level execs don't bail on downsizing moves, but like rats they do jump ship when it is sinking.

Reread StellarWind's post. Until things shake out and settle, neteller is not a good place to risk putting a lot of money.

CHAx · #79 02-26-2007, 12:06 AM

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So, what's the final word on this supposed EFT?

SpaceAce

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Im sorry I haven't given an update. The bank made good on giving me access to the funds -- I used them to play live 30/60. However, my online banking has not updated the 5000 transfer. I will call tomorrow to find out the details as to why my ach hasnt hit/updated online. So, more info to follow soon.

berya · #80 02-26-2007, 12:27 AM

"The employee made reference to news traveling throughout the organization that a handful of high level executives were planning to leave NETeller by month's end."

They are most likey are just being let go. Had the same thing happen in my company when the head count was being reduced. I wouldn't read much into that.