Latest From Netteller

kmartinusa

Dormant Account
Joined
Sep 29, 2003
Location
Under the Radar
Looks like we'll probably get our funds that I had written off months ago:

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short excerpt:

When will US members get their money back?
As a result of the resolution of the USAO investigation, US customers will be able to begin the process of withdrawing funds by 30 July 2007.


What is the Distribution Plan?
The Distribution Plan outlines how US members will be able to withdraw their funds from their NETELLER accounts. The plan agreed upon with the USAO provides a prescribed period of time for these withdrawal requests to take place.


How long is the time period that US members can request their funds?
The plan provides a period when US members can make an online request for the return of funds using NETELLER's website. This period will commence by 30 July 2007 and ends at 11:59 PM GMT on 26 January 2008.
 

cynthial

Boo
Joined
Oct 9, 2006
Location
Albuquerque
I may wait until January 08 to claim my little ole $250.55 so as to let the dust settle. I am damn sure not going to go first. :eek2:
 

EasyRhino

Dormant account
Joined
Sep 17, 2006
Location
San Diego
Just wait until the one year anniversary for romantic reason? :)

Possibly not a good idea if you want the money. When neteller was mooting the eventual repayment scheme a few weeks ago, they talked about a "window" of a couple of months where US customers could withdraw funds, and then after that, no more.

Of course, things may change.
 

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
From the NETeller update Link Removed ( Old/Invalid) page:

Distribution Plan Summary
  • NETELLER will start the process for the distribution of US member funds by 30 July 2007.
  • US members will be notified by email when the process starts.
  • US members should also check this site for updates.
  • NETELLER will issue an email to US members to announce when they can begin requesting funds.
  • US members must sign in to their NETELLER accounts to request the release of their funds.
  • US members will not be able to request funds from the NETELLER website after January 26, 2008.
  • Funds will be delivered by electronic transfer to the bank account on record with NETELLER or by cheque to the member's mailing address.
  • NETELLER will not charge withdrawal fees.
  • As NETELLER is returning $94 million to hundreds of thousands of US customers, it will take some time for all payments to be processed.
  • Please be careful of any phishing scams. Only log in to the neteller.com website to request the return of funds. Remember it must have neteller.com as the top level domain using the https security protocol--nothing else.

And from their FAQ:
What is the Release?
When US members request to withdraw the funds they will be asked to agree to a Release which, in broad terms, is an agreement between NETELLER and the member that each releases the other from potential legal claims. US members do not need to agree to the Release in order to request and receive the payment of funds. However, US members who do not agree to the Release will, in turn, not be released by NETELLER.
 

SlotsWizard

Dormant account
Joined
May 11, 2006
Location
North of Antarctica
When US members request to withdraw the funds they will be asked to agree to a Release which, in broad terms, is an agreement between NETELLER and the member that each releases the other from potential legal claims. US members do not need to agree to the Release in order to request and receive the payment of funds. However, US members who do not agree to the Release will, in turn, not be released by NETELLER.

So, wait a minute. Am I interpreting this correctly? In order to get paid what Neteller already owes you, you have to click a button which basically says "I understand that Neteller got busted and to protect themselves they threw me under the bus by providing my information to the US government. I further understand that, eventually, my government is going to come after me as a direct result of Neteller having thrown me under the bus. The money I have tied up by Neteller right now is more important to me than my freedom in the future, therefore, in order to get that money I agree to never, ever, ever sue Neteller because they threw me under the bus." - is this a correct assessment of the reason for the "release" form?

If someone from this forum goes through with the withdrawal, can you please copy and paste the release form here? I'm curious about the wording of it.

And what about those of us who got our money before the funds were frozen? Can we still sue Neteller when the DOJ/FBI/CIA/IRS come after us then?
 

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
Real nice of them to want customers to sign something 'blind'.

We dont know what the Feds are going to do with all the info they're getting out of NETeller. Hell, we don't even know how much of our own personal/financial info has been turned over (my guess: everything NETeller had) or how much of that the Feds care about. And we don't know how many complications are going to arise when NETeller begins EFTs again. Are some banks going to block them? or maybe accept the funds and then turn the info over to the Feds?

I just think it all sucks. And I hate being left in the dark.
 

winbig

Keep winning this amount.
Joined
Mar 10, 2005
Location
Pennsylvania
So, wait a minute. Am I interpreting this correctly? In order to get paid what Neteller already owes you, you have to click a button which basically says "I understand that Neteller got busted and to protect themselves they threw me under the bus by providing my information to the US government. I further understand that, eventually, my government is going to come after me as a direct result of Neteller having thrown me under the bus. The money I have tied up by Neteller right now is more important to me than my freedom in the future, therefore, in order to get that money I agree to never, ever, ever sue Neteller because they threw me under the bus." - is this a correct assessment of the reason for the "release" form?

If someone from this forum goes through with the withdrawal, can you please copy and paste the release form here? I'm curious about the wording of it.

And what about those of us who got our money before the funds were frozen? Can we still sue Neteller when the DOJ/FBI/CIA/IRS come after us then?


US members do not need to agree to the Release in order to request and receive the payment of funds. However, US members who do not agree to the Release will, in turn, not be released by NETELLER.

No, you're not reading it correctly. You will get your funds even if you don't agree to "sign" this release.

The way I see it is, they're offering people "immunity" by "signing" the release.

I think it also means that if you don't sign the release, you're fair game to the DoJ.

I'd have to see this "release" to be positive.
 

soflat

Dormant Account
Joined
Oct 3, 2005
Location
Florida
No, you're not reading it correctly. You will get your funds even if you don't agree to "sign" this release.

The way I see it is, they're offering people "immunity" by "signing" the release.

I think it also means that if you don't sign the release, you're fair game to the DoJ.

I'd have to see this "release" to be positive.

The Neteller release has nothing to do with the DoJ. Why would the gov't care if you take legal action against Neteller, and why would they care if you signed a release?

I requested a check and did not sign any release.
 

sdaddy

Dormant Account
Joined
Feb 18, 2005
Location
Arizona
This is great.

I log in today and I'm notified that my account is closed pending security validation. WTF? When I call up CS I'm told that my case will be referred to management and I'll be contacted when it's resolved. :mad:
 

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
This is great.

I log in today and I'm notified that my account is closed pending security validation. WTF? When I call up CS I'm told that my case will be referred to management and I'll be contacted when it's resolved. :mad:

Oh no! Now what??? :mad: Months of waiting and now this. I'm sorry sdaddy. Let us know how it goes.
 

PackerBacker

America the Beautiful
Joined
Nov 20, 2005
Location
TX
I logged into Neteller yesterday morning to request my withdrawal and the funds were in my bank account this morning. :eek2:
 

missmayda

Dormant account
Joined
Jun 20, 2007
Location
There
Dumb Question?

Sorry if this is a dumb question, but isnt anyone afraid of taking the payouts given the current atmosphere? (IRS wise)? :confused:
 

Simmo!

Paleo Meister (means really, really old)
Joined
May 29, 2004
Location
England
I've seen several reports filter through on other forums of US players getting their money into their bank accounts...and processed quicker than it was before as above - strange!
 

PackerBacker

America the Beautiful
Joined
Nov 20, 2005
Location
TX
I've lost more than I've won, and you can deduct your gambling losses up to the amount you've won, so the IRS would be wasting their time. Plus, once Neteller was raided, all my information became government knowledge, along with tens of millions other law-abiding Americans. It doesn't make sense that they would settle with Neteller, make them give us our money back, then turn around and go after millions of us little people.

Hmmmm, now that I think of it, our government hasn't been making much sense lately...........:rolleyes::D
 

cynthial

Boo
Joined
Oct 9, 2006
Location
Albuquerque
Sorry if this is a dumb question, but isnt anyone afraid of taking the payouts given the current atmosphere? (IRS wise)? :confused:

I was initially concerned but after seeking advice and doing the maths I feel exactly as PB does. It is not illegal to game online in my state, I am not ahead overall, they have already released all relevant info anyway and I only had a modest $250.00 in there. If the chips are going to fall then they will fall regardless of this final transaction.
 

chalupa

Experienced Member
Joined
Aug 14, 2004
Location
USA
Here is the release you are asked to 'sign' when you withdraw.

I didn't agree to it. If they had included wording to the effect that "You agree to release Neteller from all claims upon final receipt of all funds remaining in your account" then I would have been happy to.

Why would I give up my rights to sue them BEFORE receiving my money?

---------------------------------

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 Attorneys 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.
 

chalupa

Experienced Member
Joined
Aug 14, 2004
Location
USA
Wow... just checked my bank, funds have already arrived for me too. So I guess you don't get sent to the back of the line if you don't sign the release.

Withdrawals are faster than when they were still operating. Go figure.

Christmas in July!
 

Rettahs

Dormant account
Joined
Aug 1, 2006
Location
Saint Louis
Wow... just checked my bank, funds have already arrived for me too. So I guess you don't get sent to the back of the line if you don't sign the release.

Withdrawals are faster than when they were still operating. Go figure.

Christmas in July!

LOL I shouldn't have agreed but I did, looks like it is faster if you don't agree since my funds haven't even started the pending process at my bank :).
 

Rettahs

Dormant account
Joined
Aug 1, 2006
Location
Saint Louis
Well to update my withdrawal with signing the release it hit my bank this afternoon so it looks like they are sending the money out quickly if you sign the release or not.
 

silkprint

Dormant account
Joined
Jun 10, 2003
Location
Mass
My son requested a paper check on Monday . I will update when he gets it.
The poor kid ...his wasn't even related to a casino either . There are alot of people out there that had to wait when it wasn't even from gaming ,simply for living in the US .
 
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