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Is Neteller getting slower!

Discussion in 'Online Casinos' started by Addisyn, Dec 19, 2006.

    Dec 19, 2006
  1. Addisyn

    Addisyn Dormant account

    Occupation:
    Retired
    Location:
    Underground Sewer Access
    I am now convinced Neteller is in cahoots with the online gambling establishments. They are taking 7+ days to process my Instacash transactions. My withdrawals come in and I can't get them out because Neteller hasn't been notified they have been paid.

    When my withdrawals exceed the Instacash waiting for Neteller to be told it has cleared I do send what I can get out to my checking account. So some of the money actually makes its escape!

    Then what do I do! I play the money in my Neteller account since I can't get any freaking Instacash and I can't withdraw any money to my bank account. It just sits there and taunts me!

    There are transactions from the 13th that cleared my bank account still sitting as unpaid in my Neteller account. What is going on!

    Okay I should have warned you this was a rant. This is a rant!

    You actually make a withdrawal. It takes the casino several days and in some instances a week or more to get your cashout to your Neteller account. So what are you doing you are playing on the money in your checking account. At least that is what I do.

    The only way to remedy this for me is to let everything settle. I have wiped out all my withdrawals that were processed to me today. Not telling how much that was so mad at myself. :mad: Fortunately, I have a lot more coming. Hope they don't pay me until Neteller hears from their middleman.

    I called Neteller and had them set my Instacash to the lowest level. Once everything clears I am going to withdraw with Instadebit every time I can. They are quick and don't hold things up.

    Does anyone use an eWallet? How do you keep yourself from playing your withdrawals? I'm not talking about reversing withdrawals but once they get to their destination such as Neteller. It is like play money to me when it sits in my Neteller account. :oops:

    I need help. ::arghhhhhhh::
     
  2. Dec 19, 2006
  3. Random#rs

    Random#rs Dormant account

    Occupation:
    Retired
    Location:
    South Orange County
    Neteller problems

    Yes I use an eWallet. I think most of us do. Neteller has always worked for me, with no significant problems. Recently, I and several others have had login problems so I did call about that, and CS told me how to fix it.

    Your Instacashes will always interfere with your EFT's back to your bank, as you know. I don't do too many of those so I can't attest as to the efficiency of instacash clearance time; but I can say my last Instacash cleared in a few days. I do believe its quite possible that Neteller may put a delay in your processing if there is too much thrashing between your Bank, the Casinos, and Neteller to Bank/Casinos. But I can't confirm this.

    From what I think I read in your post, your frustrated about being unable to EFT the money back to your Bank, and of course, that old temptation creeps in and you play it (and maybe lose it) because its stuck there. Common problem, only its usually the version of Reversed Withdrawals. And yes it looks suspicious, as though the Casino was trying to extend the tempting arm of Reverse Withdrawal all the way out to Neteller.

    However I doubt it. It is more likely a delay created by Neteller due to an above normal thrashing of funds between your Bank, the Casino, and Neteller. There is some evidence they may have some new problems as a result of UIGEA. I had a talk with them about it and one of the calls had a seemingly accidental disconnect and the other one wouldn't cough up any details for me.

    As to the solution to your problem, I think you already know. Disable or minimize Instacash. Use Instadebit if it works faster and removes the temptation the Neteller scenario creates. If you still want to use Neteller, EFT the money to Neteller first thus removing 'pending type holds'. When you cash out to Neteller and you want to get the money fast for spending or bills (Xmas!) or whatever, its nice to have a Neteller ATM card. You can transfer the balance to your card in a very short time (maybe 15 mins or so) then go to an ATM and pull it all out in cash. There are some fees; you probably already know. But its worth a few bucks to get your hands on the cash-out immediately when you need it. Certainly better than putting it back in the Casino and losing it.
     
    1 person likes this.
  4. Dec 19, 2006
  5. jenn1381

    jenn1381 Meister Member

    Occupation:
    Data Management Assistant - Health unit
    Location:
    Canada
    Yup, Neteller sure is getting slower. It's taking forever to get my instacash deposits cleared. EFT withdrawls also seem a little slower too, however I think I'm just letting myself get all worked up because of the amount of the withdrawl. I'm impatient.. lol
     
  6. Dec 19, 2006
  7. EasyRhino

    EasyRhino Dormant account

    Occupation:
    Analyst
    Location:
    San Diego
    I don't use instacash, so let me see if this is right.

    You do the instacash transaction. The casino gets the money immediately. A few days later, you see the withdrawal from your bank account. But neteller still has the hold on your funds for a few days after that?

    It's in Netellers best interest to try to do the bank-side transaction as rapidly as possible to increase their chances of getting paid. If Neteller was a US bank, they'd only be able to hold those funds for about 1-3 business days after the transaction was debited from your real bank account. Of course, Neteller is neither US, nor a real bank, so rules might be different.

    Personally, I use neteller as my ewallet. It's great. It helps that I've had a good run bonus-hustling, so I haven't had to make a regular EFT deposit in a few months. However, I have had my balance drop to near-zero while waiting for a bunch of slow cashouts.

    So, I just stopped playing, started hassling the casinos for when they would pay me, and prioritized my lists of bonuses I wanted to play until the casinos processed the cashouts.
     
  8. Dec 19, 2006
  9. silcnlayc

    silcnlayc Just one more spin pleez! CAG MM PABnonaccred PABaccred

    Occupation:
    IT Director of Operations
    Location:
    Left Hungary
    Maybe this will help. I too use instacash feature because there is no fee and yes, it does take them almost 7 days to clear out my Neteller account and from my bank account(when I deposit when my Neteller account is empty) but what I have been doing is not withdrawing back to my bank account unless I have over $500 in my Neteller account.

    I keep an average of this amount in my account at any given time to keep from having that problem of clearing my instacash purchases. It does get a little irritating for the length of time it takes, but the fee savings is worth the wait. There are times when I have 4 withdrawals from different casinos pending and this replenishes my Neteller account and then I withdraw all but $500 to my bank account.

    It is a cycle and we all know we are prone to spending what we don't have at times and this helps me "control" the flow of funds from one place to another and when it hits my bank account, it feels more like "real" money. $500 is the balance I have chosen for myself to keep in Neteller, because this gives me 8 sessions ($50 a pop) and I usually can refill my Neteller with one of these sessions once again. Hope this gives you an idea how to make it work for you.
     
    1 person likes this.
  10. Dec 20, 2006
  11. SlotsWizard

    SlotsWizard Dormant account webmeister

    Occupation:
    I currently work for the Wizard of Odds
    Location:
    North of Antarctica
    Pretty much. You use the casino software to initiate the InstaCash transaction. If it's before 8:00 PM Eastern then it will be deducted from your bank account the following business day; otherwise it will be the business day after that.

    But it shows as "Pending" in your Neteller transaction history for a solid week, even though it cleared your bank account 6 days prior, and any amount showing as "Pending" cannot be withdrawn. So let's say you made 10 $50 deposits somewhere, and on your last deposit, you won and cashed out $500. You cannot withdraw ANY of that from Neteller into your bank account until all those "Pending" transactions clear.

    I got sick of this ridiculous wait as well, so I have started using eCheck (ACH) instead to deposit, and if/when I withdraw, I withdraw directly to my bank account (also ACH) because it's faster.

    Neteller withdrawals (from Neteller to Bank Account) used to show up in my bank account on the next business day if I entered the withdrawal in the morning, but now it takes two business days to show up. They have definitely lost their footing in terms of speed. And for that matter, accuracy, with all those timeouts that were happening.

    The aggregate net effect of all these hassles has totally turned me off from using Neteller. Especially since they won't be allowing me to use them soon anyway. Good riddance.
     
    1 person likes this.
  12. Dec 20, 2006
  13. Addisyn

    Addisyn Dormant account

    Occupation:
    Retired
    Location:
    Underground Sewer Access
    Thank you for all your input. I am just so frustrated with myself, more than Neteller. They take forever but I have left myself open to this as they offered to raise my limit over and over. Eventually I got to tier 4. That is a lot of cash.

    I am fortunate to have the funds to back it up but I still am impatient to get it all over and done with. This pending period is ridiculous! Right now I can't withdraw to my checking account and so I am not going to play. If I play I know myself well enough to know I will play it all. End up with more withdrawals coming back and the vicious cycle begins again.

    My Neteller is now set to the lowest tier level. Once this all shakes out I am going to find an alternative way to fund my gaming. Instadebit is fast but not accepted at all the places I play. Perhaps, I will simply play only those that accept Instadebit coming and going.

    Again thanks for your great tips. I will take your advice silcnlayc on leaving $500.00 in my Neteller. See how that goes. If it goes well I will close my Instacash option altogether.

    That might be the end of my relationship with Neteller since that is where they make their money. :lolup:
     
  14. Dec 20, 2006
  15. EasyRhino

    EasyRhino Dormant account

    Occupation:
    Analyst
    Location:
    San Diego
    Don't cry for neteller, I think the collect a decent fee from the casinos when they process a transaction. Plus, they earn the interest float on the money they hold of yours in your account.
     
  16. Dec 20, 2006
  17. Addisyn

    Addisyn Dormant account

    Occupation:
    Retired
    Location:
    Underground Sewer Access
    Not crying for Neteller but when I asked for my Instacash availability to be lowered they told me I could NEVER increase it. I think that was a veiled threat. Yes I did lower it.

    So I am just saying if I don't do any Instacash transactions I am taking away a good revenue stream for them. Specially if more and more of us are doing the same.
     

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