Latest News From Neteller

[LANIDAR]

I just received this email from Colin at Neteller:

Growth Has it's Issues

In response to some inquiries about intermittent system outages and user frustration, here is the situation.

NETeller has had unprecedented growth and has found it necessary to accelerate the upgrading of our capabilities to accommodate the increase. Some of the upgrading is underway at the present time. An example would be our server and network upgrade to the tune of $1,000,000 +. This multiplies our capacity by at least 5 times at the data base and makes us horizontally scalable to meet client and merchant demands.

As might be expected with the implementation of any new software/hardware, we are experiencing some glitches. We are aware that our applications are running unacceptably slow and we are working around the clock to correct this problem. Additionally, we are experiencing a tremendous demand on our call center. We apologize for the long delays that some callers may be experiencing.

Again, we are very sorry for the difficulties that the combined computer problems plus new system glitches are causing our clients. We ask for your continued patience and understanding as we resolve these issues and refine our applications. We are working diligently to correct all existing problems and to deliver solid online applications, and are confident that you will be pleased with the end results.


__________________________________

Colin Francis
VP of Security, Compliance and
Customer Service, North America

Toll Free: 1.888.258.5859 ext. 3600

Fax: 888.678.2128

[LANIDAR]

Its 7:45 A.M. EST and I just made a deposit from Neteller into Will Hill.
ALL WENT WELL!!!

[VPJunkie]

I lost a couple of deposits to casinos yesterday, that I have to chase down still.

The casino told me it was unable to connect, after trying for like 5 minutes. But later that night, I realized that the money had been deducted from NETeller anyway, so check you numbers for yesterday.

[Ace Fun]

I can't believe that a financial organisation is using Microsoft software. Neteller reports 3 installations at Neteller using Windows. Shouldn't you be using something that is secure, stable and fast?

[Ace Fun]

I've just logged in there and they seem to have active-x alerts coming up on every page. Surely people don't visit payment services from a machine with active-x enabled.

[VPJunkie]

They've had Active-X for a while now - since the last upgrade, I think.

NETeller is a fantastic alternate banking service, regardless of what software they use. I've been with them for 4years and LOVE them. The problems they've had the last couple of days were not insurmountable.

[Ace Fun]

I agree that Neteller is brilliant and I don't regret joining them - especially as I'm in the UK. I remember posting before about a-x problems as well.

I'm just surprised that a financial organisation would be using Microsoft server software, and I suspect that this may be contributing to their difficulties. But then I blame the XP collander for increasing the malware and spam on the net.

[LANIDAR]

Neteller was listed on the London Stock Exchange on April 14, 2004.
I believe the stock opened at $175 per share. Almost seven months later Neteller is trading at $338 per share.

Just thought I'd let you know about this tidbit of info.