Why not just get an overseas bank account?

[Phil123]

If you have a UK bank you don't even need Neteller. nearly all the online sites let you deposit from a UK bank using your debit card and just refund any withdrawals to the debit card used to deposit

[YouKnobber]

Also, foreign Neteller means dealing with proxies/shell accounts cause they lock your account if your IP address is not in the same country.

But like you say, you get a foreign bank account and you wont need neteller. That still doesnt solve the problem of the casual player not going to those lengths though.

[MadTiger]

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But Neteller IS an overseas bank account. Can somebody explain why it is going to be illegal to deposit with Neteller?

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It won't be illegal to deposit to neteller, as i understand. what will be illegal is to transfer between neteller and your US bank account.

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How? Neteller has "authentic" (i.e. non-poker related uses). How is transfering from/to my bank account to/from Neteller going to be illegal any more than some Swiss bank account?

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I believe 99% of netellers business is gaming. The banks won't be fooled here, they'll just ban neteller. Maryland has already banned neteller for years.

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Yes, but 99% isn't 100%. Also, I don't think Maryland specifically banned Neteller, they banned all banks that do not have an office in Maryland.

EDIT: And the Maryland banks didn't ban Neteller, Maryland did. Neteller abides by not accepting any transactions from there.

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Maryland "banned" them in the same sense that my corporation is "banned" fromd doing business there. Neither of us filled out the paper work and agreed to pay the 7% tax. Many states don't chase down corporations from other states (and countries!) to try to get this dough, but I guess Maryland does.

[Colonel Kataffy]

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Numerous times Ive gotten checks from Neteller (instead of direct dspoiting to my bank account). Nowhere on the check does it indicate its from Neteller

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This can't possibly be right.

[Silent1]

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Numerous times Ive gotten checks from Neteller (instead of direct dspoiting to my bank account). Nowhere on the check does it indicate its from Neteller

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This can't possibly be right.

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Why not? Seems to me the check could be drawn on any international bank where Neteller has an account. There is abs no need for the check to say Neteller.

[excession]

Actually what neteller is likely to do (if it doesn't already) is simply issue banker's drafts to settle accounts - in the UK if you have money lodged at a financial institution there are two sorts of 'check' you can draw..

One is the usual one drawn on the account held in your name with that financial institution - of course you sign that one and the details on it will show which account it comes from - if you don't have sufficient funds in the account it will bounce.

The second is a banker's draft - which is a 'check' issued by the financial institution itself and for which that institution is liable - it would just be a draft issued by say RBS pls, which woukdn't indicate the customer name on it.

In UK domestic use the main point of these is that banker's drafts don't have to 'clear' - they are backed with the full funds of the issuing institution and so can't bounce unless that institution itself goes bankrupt - so they are treated (if issued by a reputable bank) as being as good as cash..

So if neteller just issues its payments to US customers in that form it's going to be very very hard for any US bank to know that it indicates a gambling transaction.

[SmackinYaUp]

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The problem with that is that the fish won't bother doing it. The games will quickly dry up. You'll be playing only against other professionals.

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How many times was this said about neteller when it first started? No one wanted to bother doing it, now it's the backbone of the current industry.

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Neteller really just felt like paypal though. Setting up a foreign bank sounds a lot more shady to the average joe, even though its the same thing.

What would be great is if some company filled that void and made it feel like neteller but was really just setting up a UK or wherever bank account. Actually sounds like a pretty good business idea...wish I had the means to give it ago.

[excession]

money laundering requirements are pretty strict in UK for new bank accounts - you would need to produce a lot of ID and I'm not sure if faxed/scanned copies would do..

[Copernicus]

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In a court Neteller would be asked, "why did you sign a contract with an illegal internet gambling company to facilitate deposits for players?"

Then the gavel will hammer down and the Neteller exec will be pwned.

[/ QUOTE ] Why the Neteller exec will be sat in one of his offices outside the USA sticking 2 fingers up at the US government. As long as he doesn't enter the USA then there is no problem. You guys from across the pond seem to forget your laws do noy apply outside your borders.

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I guess you forget about extradition treaties. IF the law doesnt violate international law or treaties, a transaction intitiated on a US based computer and executed overseas is a criminal act IN the US. (Eg the arrest of the betsports exec. for accepting bets offshore that were placed from a US computer. While mechanically they waited till he was here, it was still extraditable if his situs was in a country with an extradition treaty.

[MicroBob]

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But Neteller IS an overseas bank account. Can somebody explain why it is going to be illegal to deposit with Neteller?

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It won't be illegal to deposit to neteller, as i understand. what will be illegal is to transfer between neteller and your US bank account.

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How? Neteller has "authentic" (i.e. non-poker related uses). How is transfering from/to my bank account to/from Neteller going to be illegal any more than some Swiss bank account?

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The problem with that is that the fish won't bother doing it. The games will quickly dry up. You'll be playing only against other professionals.

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I'm not too worried about this, but then again, I'm a SSNL player right now. There will be both losing AND winning players that stop playing, just more losing than winning. But the thing is, this doesn't affect the world, it only affects the U.S., and there are still plenty of fish in other countries. Yes, the games will certainly be tougher, but I don't think they will be nearly as much as you imply.

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It doesn't matter that neteller has 'authentic' uses also.
What matters is that neteller DOES PROVIDE transactions to online-gambling places.
Therefore it is one of the money-transfer options that is not considered acceptable.

That's my interpretation of it anyway.

Now, whether the banks and U.S. govt can actually do anything to stop transactions from neteller remains to be seen.
Also what remains to be seen is whether neteller will voluntarily cut-off U.S. customers like they did with Maryland customers.

To my mind, they hopefully take a mindset that they don't have anything to lose anyway by continuing to accept U.S. customers even if the govt doesn't want them to.

One issue though is that they will look like more of a rogue business that is voluntarily breaking the law of this country. That wouldn't look good to their stock-holders.


So a lot of this is kind of up to neteller and what they want to do about it.
If they continue to accept U.S. customers then it should be pretty easy to make whatever transactions you want I suspect.