Neteller Update...

[bossplayer]

Let me just add a little to this.

Neteller had to assume that they were going to lose the US market in 2 months anyways, so 20% of the value being 'frozen' by the feds will not make them go under.

However, given their current situation, interest on 200million isnt something to ignore. They have nothing to lose 'but reputation' by holding the remainder.

If they do go under, they will be one of the most incompetent businesses ever to go on the stock market. Absolutely run by idiots, or just greedy [censored]. Probably the latter.

[GoingNuts2007]

...and how do you explain the bounced cheques to Canadians??

[bossplayer]

[ QUOTE ]
...and how do you explain the bounced cheques to Canadians??

[/ QUOTE ]

1. Cash flow issues.
2. Banking issues.
3. [censored] thief issues.
4. Neteller thief issues. (#3 refers to the DOJ)

[GoingNuts2007]

Has anyone had a successful resolution to the insufficient funds dilemma?

NON - US accounts that is.

[GoingNuts2007]

I finally got a hold of someone and was told to do the following...

fax the Cheques Dept at 888-678-2128

include the following:

name
email
account#
phone #

fax a copy of the returned cheque and the bank letter.

...waiting....

[GoingNuts2007]

It seems the best way to avoid the "insufficient funds" problem from a neteller cheque is to not withdraw the funds. You are better off sending the money to Stars or FTP and asking for a cheque.

For those (non-US) of you thinking if they should use Neteller...stop and think about what this thread is about. If you re-read some of the posts you will see that your money is not very safe at Neteller.

Like anything there are risks involved.

[TRIPAAA]

Are the EFTs working for Canadians and how long are they taking to hit the bank? Or is it just a problem with checks made in USD funds. I thought canadian check in CAD funds are fine. Can anyone confirm they are bouncing or not? THX

[KurtSF]

Confirmed in this very thread.

http://forumserver.twoplustwo.com/showfl...;vc=1&nt=26

[TRIPAAA]

That doesnt answer the original question is canadians checks from neteller bouncing (issuded in CAD (Candian Dollars)?

[jrjunior31]

[ QUOTE ]
By phone, Neteller even has an option for people experiencing "insufficient funds". Not on the account holders side but rather neteller who has displayed insufficient funds.

So with an option on the phone, yet when you ask a rep they have never heard of this before.

Has anyone been sent back a cheque from their bank? Their seems to be no process for this. Of course, legal action is an option, but I would like to exhaust the other ways first.

These guys seem like they are about to go under. Like most have stated before, the US funds that are being held by the feds in the US must be the reason.

I would not use Neteller anymore until they have shown they can handle this situation. Clearly they cannot.

[/ QUOTE ]

the neteller customer service rep's famous tag line: "we haven't heard of anything like that happening before"...

yeah okay... they used this countless times on me (US resident) and now they're feeding it to the Canadian residents in regards to insufficient funds...

I hope these scumbags get sent to jail, and then get hit with multiple class action lawsuits in the US and Canada...

Granted, this wont help any of us get our money any time soon, but in reality what are the best odds we can hope for in that regard? is it 50% even? its hard to put a comprehensive number on it...

if you were to correlate it with their honesty, however, it would be about 0%...