Neteller must be totally over U.S. customers closing their accounts

[mgibson99]

I have been a VIP customer for the last 3 years. I know that Neteller has made a ton of money off the fees from my transactions (paid for by the casinos).

I just called to close my account, and the entire conversation from start to finish lasted about 20 seconds. Not even a "thank you for your business", or "are you sure you want to close your account?", or "is there anything we can do to keep your business?".

They must be getting absolutely hammered with U.S. account closures, so they don't even bother thanking them or trying to save them. Not that I blame them of course, but it just seems such a sad way to go out in my opinion.

 

[trips to win]

I agree

and think it's a shame that they couldn't have covered their greedy asses by accepting other merchants besides casinos and sportsbooks. Serves them right in my opinion and they will get theirs in the end. What goes around comes around-

 

[soflat]

They are probably going to have to let a lot of the employees go, so I wouldn't expect to get a cheery customer service rep right now.

I'd feel kind of bad for the company if they hadn't charged such high fees and provided such minimalistic services while they were basically the only game in town.

 

[winbig]

Why would they want to keep you as a customer? They know they won't make a dime off of any US customers...Where would you spend money that's in your Neteller account if you're in the US?

 

[Jtmoney]

I remember earlier on when Paypal was the big monster and Neteller was in 3rd place behind Firepay. Neteller was happy to get anyone to signup back then. When Paypal decided to drop gaming and Firepay messed up with their high withdrawal fees and 5 to 10 day waiting period to cashout from a casino. Neteller quickly rose up and became very arrogant. Some of their customer support sounded like they smack gum on the phone, while saying "We don't want to enable your insta-cash feature. Since you called and had it turned off in the first place."

 

[mgibson99]

Why would they want to keep you as a customer? They know they won't make a dime off of any US customers...Where would you spend money that's in your Neteller account if you're in the US?

As I said in my post....I don't blame them and I understand the reality of what is going on. On the other hand, I am in a service oriented business myself, and I know that sometimes a "customer friendly" attitude can pay off down the road. Things can change (think prohibition). If the U.S. landscape changes in regards to online gambling, there will be a flood of U.S. players getting back into the market. If that were to ever happen (big if), Neteller may not be the only game in town when it does. Taking an extra 60 seconds to thank someone for thier past business might be the difference between someone going back to Neteller, or going somewhere else. That's all I'm saying.

 

[tennis_balls]

Taking an extra 60 seconds to thank someone for thier past business might be the difference between someone going back to Neteller, or going somewhere else.

I don't it's a realistic expectation for a Neteller rep to take an extra step to do anything right now. I would imagine their reps are very busy and 90% of the callers are probably quite angry and difficult.

 

[mgibson99]

I don't it's a realistic expectation for a Neteller rep to take an extra step to do anything right now. I would imagine their reps are very busy and 90% of the callers are probably quite angry and difficult.

I'm sure you are right. It has to be chaos at Neteller right now. Funny thing is, why would anyone be angry at Neteller? They didn't create this situation, and given the legal climate, they really didn't have much of a choice but to stop serving the U.S. market.

 

[winbig]

Funny thing is, why would anyone be angry at Neteller?

Well let's see here:

1. No notice
2. No notice
3. No notice
4. Making it hell to get your money out of there.
5. Making you wait 6 weeks to get your money.

Need I go on?

 

[mgibson99]

Well let's see here:

1. No notice
2. No notice
3. No notice
4. Making it hell to get your money out of there.
5. Making you wait 6 weeks to get your money.

Need I go on?

I'm with ya. Didn't think of that because it just so happens that I did not have any money in my account (I transfer it over to my bank account as quickly as I can after it hits my Neteller account), and I did not have any transactions pending when this blew up. Ironically, there have been very few times that I did not have some money in play in one form or another at Neteller. If this has happened almost any other time, I probably would be hassling right now with a casino, Neteller, or both. Then I would be angry........

 

[lots0]

I'd like to point out that I have caught Neteller lieing to me on several occasions about my money which I still have not received. There is thread around here somewhere that lays it all out blow by blow.

I still have two transactions 'pending' and I am told it will be weeks before I will receive my money from them...

I don't expect to receive any of my money at this point from Neteller.

 

[cynthial]

Also waiting

I am also waiting for $250.55 balance that was in Neteller when everything went terribly wrong. Shows as a pending EFT since the 17th. Can't get anyone on phone nor reply from e-mail so will just wait with the rest of you!
Regards, Cynthia

 

[hbears341]

I am also waiting for $250.55 balance that was in Neteller when everything went terribly wrong. Shows as a pending EFT since the 17th. Can't get anyone on phone nor reply from e-mail so will just wait with the rest of you!
Regards, Cynthia

My $1,000 withdraw request has been pending since the 17th as well. They tell me the delay is due to a large number of processing they're doing.

What I don't get is that they gave no warning this was going to happen. Their lacking of planning and poor management should not result in me having to wait 2 weeks for my withdraw!

 

[Simmo!]

What I don't get is that they gave no warning this was going to happen.

It was a snap decision made on the back of the arrests and the suspension of their shares. The same thing that happened with PLC casinos immediately after the UIGEA came into law. They had to....it's the downside of being controlled by a largely ignorant gaggle of investors.

 

[swampwitch]

Extremely short sighted of the payment processors...and the casinos as well. They've made millions off US players, and they could have taken some of that money and lobbied the hell out of those same politicians who started this crap. As dishonest and greedy as those politicians are, by now not only would online gambling be legal...it'd be a sacrement.

 

[Rangeral]

Pending withdrawal

I talked to Neteller last night and they assured me that I will get my money in one week to ten days. Anyway, I also have a pending withdrawal and I tried to cancel that withdrawal to my checking account and asked if I could withdraw it to my Neteller card instead. They told me i could not do that because my pending withdrawal is in the process of going to my bank account.

 

[Tester]

As Simmo It was a snap decision.
It is not the law that causes it. It is the arrests. They had exactly 24 hours to prepare. They thought beforehand about a possible stop, but not in such an abrupt way.

They have no cashflow problems etc. It is just that they are having payouts 100 times than usual. Practically, they cannot do all transactions in a single second.

I guess everyone is working there extra hours so it will take six weeks and not six months.

The only theoretical solutin would be to hire a thousand new employees overnight to write checks. Wake up! that is unrealistic.

Usually, the service of Neteller is quite acceptable. You expect a company as big as neteller to have some numbers messed up here and there. But you are getting answers etc.

Well let's see here:

1. No notice
2. No notice
3. No notice
4. Making it hell to get your money out of there.
5. Making you wait 6 weeks to get your money.

Need I go on?

 

[paul02085]

The have been saying since the day it happened that EFTs will take around 2 weeks. I have no reason not to believe that.

No wonder they arent happy they are taking a brutal beating.

 

[winbig]

Usually, the service of Neteller is quite acceptable. You expect a company as big as neteller to have some numbers messed up here and there. But you are getting answers etc.

Their service before all of this was quite unacceptable. Check out all the pre-UIGEA complaints threads about Neteller.

 

[EasyRhino]

I think cash flow problems are a real possibility.

Let's assume that netellers EFT withdrawal process is completely automated (after the bank account is validated, it should be). In that case, any withdrawal could be completed in 2-3 days, just like paying your credit card by EFT.

The reason for the delay would be funding. The money would probably be tied up in some sort of investment that could not be quickly liquidated, and they needed to throttle transactions.

However, if a human-in-the-loop is required to do EFT's with neteller, then I could understand how they'd be swamped.

PS - for the record, I was suggesting temporary cash flow problem. The only reason to risk insolvency would be if neteller was using held customer money for drugs and whores.

 

[JohnGalt]

There is no possibility of them simply being "swamped." If that was true, someone would be getting paid, and people would be getting paid in a staggered order, not all at the same time 2 weeks from now.

 

[vinylweatherman]

Cashflow.

Recent posts have come in from US players who have ended up OWING money to Neteller due to Neteller allowing a transaction through, but the bank blocking the transfer. If the US banks effected a similar no-notice (to Neteller) blanket shutdown of transactions to Neteller, it is indeed possible that Neteller have a temporary cashflow problem. No one knows how big the problem is (how many accepted transactions have been blocked by US banks). Unfortunately, Neteller have also decided not to accept funds back from the casino, so in effect, the money is trapped in the casino with Neteller holding the can. Where players accept they owe money to Neteller, they may not have it to hand over till they can get it from the casino they deposited it into, itself a process likely to take a few weeks.
It might be best for Neteller to make a public statement on the position, rather than pretend all is well, but acting as though otherwise.
When they publish their results, it will be possible to see what was REALLY going on with regard to cashflow, by looking for provisions against bad debt in closed US player accounts. They are duty bound to be open and honest in such reposts, although they will do their best to flatter the figures so as not to scare off investors.

 

[wangpoker]

Recent posts have come in from US players to scare off investors.

It's scary. I'll withdraw all my money.

 

[hbears341]

I checked my neteller account this morning to find that my EFT withdraw was declined. When I went to live chat to ask about it they said they could not process withdraws for u.s. customers when the money came from a gambling site.

Sure am glad I have a neteller card!

 

[EasyRhino]

Man, that would such be a pain if they start rejecting everyone's EFTs. (It would also explain why processing is taking so long if they are examining each request). My EFT withdrawals have not yet been rejected, so I'm keeping my fingers crossed.

incidentally, I did see that a Wager Junction casino attempted a payout to my neteller account yesterday. It was declined, of course.