Neteller's updated position

[pokerraja]

horrible news. im surprised this thread isnt generating more interest.

[jrz1972]

[ QUOTE ]
can still withdraw. i haven't put money into neteller in 4 years.

[/ QUOTE ]

That doesn't do you much good if Neteller won't allow you to deposit at Full Tilt.

[jrz1972]

[ QUOTE ]
horrible news. im surprised this thread isnt generating more interest.

[/ QUOTE ]

It's probably because there's another 4-pager on this topic at the bottom of the page. Although that one turned into a weird flame war involving Frist somehow.

[dneedle1]

I'm curious as to why so many people expect Neteller to brazenly violate US law. Their announcement is unsurprising. In fact, from a legal point of view, the "safer" thing to do is to do what Party did and just give up the ghost. Now I'm a player, and I'd HATE HATE HATE to lose neteller-- its been great for me. But to expect a publicly traded company to just ignore US law (once the regs are in place and the law is thus clear) is to me just wishful thinking.

However, I do agree with the posts indicating that other businesses will fill the void. You don't need to be Adam Smith to figure this out. There will, however, be a fair bit of disruption in the interim.

One thing I am quite sure of is that we will always be able to cash our $$ out of neteller. The law does NOT affect that sort of transaction, at all, and I just don't stay up nights worrying about neteller stealing my money, not at all. So, this is bad news, no two ways about it, and no sugar-coating it, but it happily doesn't change anything YET.

[shelly11]

So what do we do now?

[zerosports]

[ QUOTE ]
So what do we do now?

[/ QUOTE ]
keep a sufficient bankroll in your site and start requesting paper checks?

[jrz1972]

[ QUOTE ]
So what do we do now?

[/ QUOTE ]

Just keep doing what you're doing. If/when Neteller closes up shop, we all migrate over to Moneybookers or Citadel or whatever other firm steps up.

Losing Party wasn't the end of the world, and losing Neteller won't be the end of the world either. It's bad, yeah, but let's not exaggerate it.

[Mr.K]

EDIT: Someone answered my question in a different thread. Sorry bout that.

Thanks for posting this, OP. Regardless of the answer to my narrow question, this is a major development, and in the long run, one that was probably inevitable as a result of UIGEA.

[Leader]

[ QUOTE ]
In the long run it isn't possible for Neteller to keep both its U.S. and non-U.S. business.

[/ QUOTE ]

As to this point, I was just checking out CentralCoin. They have this posted in their FAQ:

[ QUOTE ]
Who can sign up for a CentralCoin account?

Anyone with a US address and bank account can sign up for a CentralCoin account

[/ QUOTE ]

Interesting.

[MobBarley]

Am I understanding this correctly? We can still witdraw from neteller but can't use them to fund a poker site? Or are things still normal until further notice?