The official NETELLER thread. (249 days on.) #3 of 3.

[voltron]

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Can someone copy/paste that release notice. I accidentally accepted it.

CRAP!

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WOO HOO I just withdrew. I went with the release.

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On this joyous occasion, I shall skip work and eat tacos all day.

[HensonLosesLots]

I just withdrew and didn't agree to the terms, still a success! Anyone else not agree to that form thingy at the withdrawl stage?

[mo42nyy]

xpost but
just withdrew
did not sign the release as I had a very large balance and lost a ton of money in neteller fees when i did peer to peer xfers as well as in interest lost and once I get this money I want to look into my other options.

[HensonLosesLots]

I still don't understand what exactly 'not signing' the release form will implicate?

[Spartan1983]

I didn't agree. No problems EFT withdrawel.

[KSOT]

I had to have a check sent because my banks routing number has changed and they wouldn't let me update my information. Oh well, another few weeks isn't going to change anything now...

[MrHouston]

I logged into Neteller and withdrew. It was not slow at all. Here's my confirmation

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EFT Withdrawal Confirmation
Your EFT withdrawal request has been submitted. Please allow up to three business days for your request to be processed.


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Here's the release they ask you to agree to:

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Release

You and NETELLER Plc Group (each, a “Releasing Party”) mutually release, waive, and discharge each other (each, a “Released Party”) from any and all manner of actions, causes of action, suits, promises, damages, judgments, executions, claims, counterclaims, demands, and any other form of liability whatsoever, in law or equity, known or unknown, that the Releasing Party ever had, now has, or hereafter can, shall, or may have against the Released Party from the date You opened Your Account to the Effective Date with respect to Your request to receive funds under the Distribution Plan and Your Account.

The additional definitions below apply to this release:

“You” or “Your” refers to you and any of your assigns, heirs, executors, agents, or anyone else acting on your behalf or in your capacity.

“NETELLER Plc Group” means NETELLER plc and its predecessors, successors, present and former affiliated companies, subsidiaries, assigns, officers, directors, stockholders, employees, and agents.

“Your Account” means your online stored value account with the Neteller plc Group, or any of them, which holds electronic money.

“Distribution Plan” means the distribution plan announced by NETELLER Plc Group on 4 June 2007 pursuant to agreements with the United States Attorney’s Office for the Southern District of New York and Navigant Consulting, Inc.

“Effective Date” means the date on which You successfully withdraw funds from Your Account under the Distribution Plan.

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[TWINUNO]

You cant change your banking information? My problem is that i have moved since then do you think they will let me request a check from anywhere and change the name on it?

[XXXNoahXXX]

Maybe a lawyer could chime in, but even people that jumped the gun and signed the release, seems like there are many ways of getting around it being enforced. Seems more of just a preventive scare tactic.

[PoorLawyer]

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Maybe a lawyer could chime in, but even people that jumped the gun and signed the release, seems like there are many ways of getting around it being enforced. Seems more of just a preventive scare tactic.

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Agreed. I think if it came to it there is a strong case that this release isn't worth the paper its written on.

That being said, I don't plan on suing neteller so I signed it to prevent any possible shareholder fallout or crazy attempt by neteller for indemnification for all the money they had to pay out.
I think either of those scenarios are much more likely than the DOJ coming after me, which would be the only reason I would want to maintain my right to sue neteller. If it comes to that i will sue them anyway and hope it sticks!