NETELLER U.S. PAYOUTS IN PROGRESS (Update)

3 August 2007

Relieved US players start receiving long-frozen funds

American online gamblers who have had their Neteller accounts frozen since January will have been relieved yesterday to at last see their money, as the Isle of Man-based e-wallet started paying out the $94 million owned by US players that has been in limbo whilst the Neteller vs. US Department of Justice drama played out.

As part of its settlement with the US authorities, Neteller has pulled out of the US market, agreed to pay a penalty of $136 million and to pay out - without interest - all American players whose funds were frozen. The last condition was in full swing Tuesday in compliance with the agreed timetable.

Amounts being paid varied from less than a hundred to tens of thousands - several players have posted that they had account balances in excess of $20 000, $70 000 and in one case $800 000 (allegedly a top poker tournament player whose winnings were paid to Neteller)

Neteller was also active in contacting former Neteller Card holders. The e-wallet suspended Neteller Card services earlier this year and is now offering a new facility in the form of its new GlobeWallet Prepaid Card, offered in partnership with First Pay and Conister Trust PLC.

The new card will work at over a million ATMs in 210 countries and over 25 million merchants worldwide, and Neteller boasts that lower fees than most other prepaid cards are a feature.

Neteller has waived activation fees provided that existing card holders request the new service before August 8.

Online Casino News courtesy of InfoPowa