Moneybookers account locked

[JHV]

Originally Posted by vinylweatherman

6% is even higher than CREDIT CARDS! I thought credit cards were excluded from those regular "deposit method bonuses" because of the higher fees. Small merchants probably get charged the highest fees, just as with credit cards. Do you know if Neteller rebates the fees if the merchant refunds the deposit back - this seems to be the model with credit cards, and the driving force behind casinos deciding to return any amount up to the total of deposits back to a VISA card before allowing other payment methods to be used.

There was a potential competitor, Ivobank, but this didn't seem to get off the ground, despite being a FULLY regulated BANK, rather than an ewallet. The difference meant that the first £50,000 of players' funds at Ivobank would have been covered by the Financial Compensation Scheme. The position at Neteller seems to be that only the equivalent of €1000 is covered in the event that Neteller goes bust, and this is NOT by the Financial Compensation Scheme.

The problem for Ivobank was that it was no use whilst so few merchants accepted it as a deposit/withdrawal method.

I think IvoBank's failure to really get off the ground ran deeper than simply NETeller's dominant position in the market, but I'm merely stating that from some stuff I heard/read/was told awhile back. It's a pity obv but if you're a slick operation charging substantially less, you'll find market share with merchants and you'll find it fast! Once you have that, players follow in their droves. I think the current financial climate as well as ongoing regulatory uncertainty in Europe / US and other markets (everywhere really lol) is what's keeping competitors to the big 2 from popping up - and it would suck if they've decided to really press home their full-court advantage by ramping up fees to ridiculous levels. Maybe that's just perfect business - I'm finding it harder to distinguish between perfect brutal business strategy and ethical / responsible operations more and more these days.

Not sure on the rebate issue - wish an operator would jump in cause it's really interesting stuff imo. But they're usually loathe to discuss stuff like this publicly, I'm not really sure why but I'm sure the reasons are valid. If I was guessing, I think I'd say yes because I notice some withdrawals come in batches - say I deposit 500 and win 5000 and w/d, I often see 500 and 4500 payments back to MB. But that could be an accounting thing also? I just don't know.

[vinylweatherman]

Originally Posted by JHV

I think IvoBank's failure to really get off the ground ran deeper than simply NETeller's dominant position in the market, but I'm merely stating that from some stuff I heard/read/was told awhile back. It's a pity obv but if you're a slick operation charging substantially less, you'll find market share with merchants and you'll find it fast! Once you have that, players follow in their droves. I think the current financial climate as well as ongoing regulatory uncertainty in Europe / US and other markets (everywhere really lol) is what's keeping competitors to the big 2 from popping up - and it would suck if they've decided to really press home their full-court advantage by ramping up fees to ridiculous levels. Maybe that's just perfect business - I'm finding it harder to distinguish between perfect brutal business strategy and ethical / responsible operations more and more these days.

Not sure on the rebate issue - wish an operator would jump in cause it's really interesting stuff imo. But they're usually loathe to discuss stuff like this publicly, I'm not really sure why but I'm sure the reasons are valid. If I was guessing, I think I'd say yes because I notice some withdrawals come in batches - say I deposit 500 and win 5000 and w/d, I often see 500 and 4500 payments back to MB. But that could be an accounting thing also? I just don't know.

I have noticed this batching, and it is still shown in statements from the casino, but no longer on my credit card statement or Neteller statement. Maybe this is to hide from us what is going on.

I have noticed some serious reluctance to accept Neteller & Moneybookers at quite a few casinos, some of this goes way back to before UIGEA, Reef Club, for instance. Rushmore have also joined in by banning these methods from the weekend bonuses, but not the midweek ones. Other casinos on the other hand, give you EXTRA just for using Neteller, Moneybookers, and Click2Pay, often between 10% and 15%

If casinos start banning Neteller and Moneybookers users from PROMOTIONS, then players WILL start to drift away from these wallets, and towards a competitor. Casinos though, have to ensure that they ACCEPT any competitors as a method of deposit and withdrawal, or these players will move to a different CASINO as well.