Important changes to your neteller account (IMPORTANT YES)

kavaman

Experienced Member
PABnononaccred3
PABnononaccred3
MM
I recieved an email from neteller yesterday about this. The strangest part of the email was.

"2. New Account limits. In order to comply with European anti-money laundering regulations, we are introducing a maximum limit on the balance that can be held in your NETELLER account, as well as minimum and maximum limits on the amounts that can be transferred, deposited or withdrawn. These limits vary based on the type of NETELLER Account that you hold. There are now three types of NETELLER Account available to you:

Standard Account - allows a maximum account balance of USD1,900 (EUR 1,500 or GBP 1,000 depending on the currency of your account)

Enhanced Account - allows a maximum account balance of USD19,200 (EUR 14,500 or GBP 10,000)

Premier Account - allows a maximum balance of USD48,000 (EUR 36,300 or GBP 25,000)

Initially, your NETELLER Account will be set to "Standard." You can upgrade your account free of charge at any time by clicking on the "Upgrade Account" link in the QuickLinks section of the Accounts page. "


Now the important questions.

1. What if your neteller already has a balance of over 1900$ when they start this on june 6th.

2. What if you have a balance of less then 1900$, but you recieve payments on june 6th-7th so that the balance reaches over 1900$. Will they not accept these payments if you havent had the time to upgrade your account.

-kavaman
 

Simmo!

Moderator
Staff member
kavaman said:
I recieved an email from neteller yesterday about this. The strangest part of the email was.

"2. New Account limits. In order to comply with European anti-money laundering regulations, we are introducing a maximum limit on the balance that can be held in your NETELLER account, as well as minimum and maximum limits on the amounts that can be transferred, deposited or withdrawn. These limits vary based on the type of NETELLER Account that you hold. There are now three types of NETELLER Account available to you:

Standard Account - allows a maximum account balance of USD1,900 (EUR 1,500 or GBP 1,000 depending on the currency of your account)

Enhanced Account - allows a maximum account balance of USD19,200 (EUR 14,500 or GBP 10,000)

Premier Account - allows a maximum balance of USD48,000 (EUR 36,300 or GBP 25,000)

Initially, your NETELLER Account will be set to "Standard." You can upgrade your account free of charge at any time by clicking on the "Upgrade Account" link in the QuickLinks section of the Accounts page. "


Now the important questions.

1. What if your neteller already has a balance of over 1900$ when they start this on june 6th.

2. What if you have a balance of less then 1900$, but you recieve payments on june 6th-7th so that the balance reaches over 1900$. Will they not accept these payments if you havent had the time to upgrade your account.

-kavaman
I wondered that too. But they say you can contact them via Live Chat on teh site and ask so it may be worth doing. The ACH to Bank is a welcome plus.
 

Webzcas

Winter is Coming!
The ACH to Bank is a welcome plus.

Absolutley. Well outways the inconvenience to upgrade your account to enable you to hold over $1,900/1,000
 

maxfalcon

Dormant account
There is no cost to upgrade your account. :) I have just upgraded mine to Premier (now to get the Debit Card you need to have a Premier Account).

I suggest everyone to read carefully all the new terms & conditions.

If you have funds above the minimum level, they will ask you if you want to upgrade as soon as you log in your Neteller account. Don't be afraid, you still see your balance, even if you are set to Standard first! ;)

Also, your funds are insured up to 1,000 GBP, no more (I believe PayPal is a bit above, 1,500 GBP), even if you have a Premier Account, and you must accept this also to upgrade.
 

johnsteed

Ueber Meister
The limits only apply to customers in Europe; you are not affected in any way.

This was sent to me today (in regards of my asking for an upgrade), from Peter, the rep. from NeTeller who's in charge of wire transfers (stationed in Calgary... dealing with Barclays Bank out of the U.K.). I'm sure most of you are aware of this already, but just passing it along in case.
 

Macgyver

Dormant account
PABnononaccred
johnsteed said:
The limits only apply to customers in Europe; you are not affected in any way.

This was sent to me today (in regards of my asking for an upgrade), from Peter, the rep. from NeTeller who's in charge of wire transfers (stationed in Calgary... dealing with Barclays Bank out of the U.K.). I'm sure most of you are aware of this already, but just passing it along in case.
I figured it was something like that, since I'm in the U.S. and couldn't find anything about having to upgrade my account.
 

kangamick

Dormant account
Macgyver said:
I figured it was something like that, since I'm in the U.S. and couldn't find anything about having to upgrade my account.
I'm in Australia & same thing, my account has not changed.
 

clawback

Dormant account
I`m a tad miffed that neteller no longer wish to send out dollar payouts to UK citizens.
They dont want to wire dollar payouts either.
They say they must do the extortionate exchange rate themselves before sending out payments so if like me you want to take out some bucks you`ve got to pay the hefty neteller charges to release the cash.

I`m sure now they are FSA registered they cant enforce this but will do everthing they can to get their own way.

What do the non dollar guys think it`s one of those things take the hit get over it or hold on they`re getting away with financial murder here lets kick up a fuss.
I`m kicking up a fuss there`s to much cash at stake to lie down on this one.
 

Vesuvio

Dormant account
clawback said:
What do the non dollar guys think it`s one of those things take the hit get over it or hold on they`re getting away with financial murder here lets kick up a fuss.
I`m kicking up a fuss there`s to much cash at stake to lie down on this one.
One option's to withdraw via another site that lets you deposit with Neteller and withdraw to debit card. A few sites do (popular poker sites, for instance) and the currency conversion's done at the bank rate, so you don't lose out. Obviously it's a grey area and if you don't give the site you're using some action you might run into difficulties.
 
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