Anybody with funds tied up in Neteller

[bestpoker]

I attempted to withdraw on 1/17, and it's still pending. I spoke with customer service today and they told me they will not cut checks, or commit to when the money would actually be deposited-if at all.

The rep said that they can not process any transactions with US banks no matter if it's gambling related or not.

The rep also said that the money is in trust account, and is safe. Yeah right!

Op/Ed- Gambling Webmasters aka publishers, got screwed by the online casinos and the payment processors by blended transaction types within the banking system. Affiliate revenue is advertising revenue. Gambling income is gambling income. There is a difference and there is a double standard. Casinos/Online payment processors should have worked to differentiate the two over the last 10 years. It makes zero sense that Full Tilt.net can buy adds from FOX, but can't pay webmasters. Small business gets screwed.

[bestpoker]

"Is my money safe in my NETELLER account?

NETELLER holds all members’ funds (all deposited, in-transit and un-cleared funds) by holding the value in independent trust accounts. As the largest independent online money transfer business in the world, we maintain our head office in Europe and are a publicly quoted company on the AIM market of the London Stock Exchange. NETELLER UK Ltd is authorised and regulated by the Financial Services Authority. "


This still doesn't explain why they can't just cut checks. They could and they choose not too. We should have access to our "trust accounts" 24/7. That's the law in the US anyway....

[greek39]

Never bothered ever opening a Neteller account. But given the current situation my American friends are having I decided to do. I filled out all the info, they verified my banking details and emailed me a welcome letter.

Few days go by I decided to login, the account was locked. I contacted Neteller and to my amazement they told me I had “four accounts”. Currently my account is under investigation? This is very bizarre considering I dislike Neteller and have never used them.

The intent was to help out facilitating payments for other webmasters if requested. But perhaps alternative solutions exist. I am Canadian and if there is an alternative solution I am willing to help.

Greek39

[onestopgamblingguide]

Greek39, that is very bizarre! Nice of you to sign up in an attempt to assist us USA folks tho!

"Affiliate revenue is advertising revenue." That could be a valid argument although we profit on the gambling revenue so not quite sure.....

Here is Neteller's latest Press Release: http://www.neteller-group.com/press/en/124.htm

[casinoranking]

Try not to stress about this. I probably have more money than most locked up in neteller. I have over a quarter of my funds in there.

If it happens it happens, if not it doesn't. There's nothing that can be changed so try not to stress. I guess I am used to this since I had the canadian government lock my funds several times in the past. I also had them steal quite a chunk.

I would recommend that everyone moves out of North America, this will prevent crap like this from happening in the future.

[Amateur]

Originally Posted by casinoranking

...I would recommend that everyone moves out of North America, this will prevent crap like this from happening in the future.

Oh yeah, that's a quick and tidy solution. So, if I have a family, and they have no intention, or reason, for wanting to move to another country? Besides, what if I don't want to move?

It will take time, but the better solution is to get the laws changed, rather than running away, imv.

[casinoranking]

I agree moving away is never easy. Especially living in the USA since they tax people on citizenship versus residency.

But there is nothing an individual can do to change a law.

[Amateur]

Originally Posted by casinoranking

I agree moving away is never easy. Especially living in the USA since they tax people on citizenship versus residency.

But there is nothing an individual can do to change a law.

I disagree. It is always the individual who makes a difference. One never knows what influence one's actions has in the scheme of things. The parent whose child is murdered and starts a crusade to get laws changed. (MADD, America's Most Wanted, Megan's Law, etc.)

It's very easy to say, "No, you can't do that". The hard part is doing something, even when the odds seem to be stacked against you. I believe the American Revolution is a good example of that.

One thing for certain, doing nothing, achieves nothing.

[onestopgamblingguide]

here's some info i found
http://majorwager.com/index.cfm?page=27&show_column=443