NETELLER commences US funds' distribution

[rhump]

http://www.neteller-group.com/press/en/138.htm

Press Release
Distribution Plan Implemented Today


Monday, 30 July 2007 – NETELLER Plc (LSE: NLR), the independent global online payments business, today announced that US customers now have access to their accounts online to request the withdrawal of funds.

As described in the Company's announcement of 4 June 2007, under the Distribution Plan agreed to with the United States Attorney's Office for the Southern District of New York, US customers will be able to commence the process to achieve a return of their funds currently within their NETELLER e-wallets.

US customers will be able to access their NETELLER accounts online until 26 January 2008 and make a request for their funds. In accordance with NETELLER’s Terms of Use, no interest on account balances will be paid. NETELLER will not charge fees to customers to process requests for funds. Funds will be distributed either by electronic transfer to the bank account on record with NETELLER or by a cheque to be sent to a mailing address as confirmed by the customer. If a US customer has a bank account already registered with NETELLER, funds transfer will be by electronic transfer subject to confirmation by the customer that the registered bank account remains valid. US customers will receive the entire balance of funds in their account; no requests for partial payments will be processed. US customers cannot use their accounts for any transaction other than to request the funds.

Further information is available on the Company’s customer website, www.neteller.com, in particular the US customer update FAQs which are posted at updates.neteller.com.

"We are very pleased to start the funds distribution process today. I can assure our US customers it has been our highest priority and we'd like to thank them for their patience during this period", said Ron Martin, President and CEO. "The implementation of this plan marks another major step forward in the Company's recovery strategy".


About the NETELLER Group
Trusted by millions of consumers in over 160 countries to move and manage billions of dollars each year, the NETELLER Group operates the world's leading independent online payment business. The Group specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed the Group to support thousands of retailers and merchants in many geographies and across multiple industries.

NETELLER Plc is quoted on the London Stock Exchange’s AIM market, with a ticker symbol of NLR. NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about the Group visit www.netellergroup.com.

Media and Investor Contacts
NETELLER Group media and investor relations are managed by Citigate Dewe Rogerson. Contact them through the Media Relations Contact page.

[cynthial]

Thanks rhump,
Here is the "Agreement" they request you sign.

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.

And a screenie showing my withdrawal.

[Mousey]

WTG Cyn! Let us know how long it takes to hit your account and if there are any hiccups along the way.

[cynthial]

I will Mouse. It says allow 3 days. I was seriously considering just leaving it behind but as the DOJ has approved the payments and some learned folks here felt it was probably fine to request it, I have. It signals the end of online gaming for me unless and until the laws catch up with the wishes of the citizens. I long ago gave up chasing deposit methods in this atmosphere. There are half a dozen B&M places in the city so I will frequent them when the urge hits.

[SlotsWizard]

I checked my Neteller account today, and after a long period of deep reflection, I have decided to let Neteller keep my 4 cents.

(I know I said in another thread that I had 17 cents but that was based on memory ... and my memory failed me)

[pokeraddict]

I have $11 in my account that is locked because of a huge P2P I did when they started blocking transactions. Endless emails and phone call attempts could not get my account unlocked. I wanted it for tax purposes. I guess they can keep my $11.

[Addisyn]

I just withdrew my $960.00. Now I can play tonight! Congrats to everyone that is finally getting their monies!

[KathyK]

Hi everyone! I just wanted to let everyone know that I withdrew my funds from Neteller on Monday morning and I received payment via ACH into my bank account that afternoon!!! Good luck everyone!

[cynthial]

Wow, mine is already credited also.

ACH CREDIT Cardload
Inc ON 07/31

[Mousey]

Which just goes to show that when we were able to use them regularly that 3 -5 business days for funds to show up in NETeller when depositing from the bank, and the same 3 -5 day wait for a withdraw from NETeller to our bank was complete bull$hit.

Glad everyone's money is showing up so quickly!

Cyn said:

It signals the end of online gaming for me unless and until the laws catch up with the wishes of the citizens. I long ago gave up chasing deposit methods in this atmosphere.

Same here, girlie. I'm too old to jump through hoops... I might break something.