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Neteller Pulls Out of Canada and Turkey

Discussion in 'Casino Industry Discussion' started by pokeraddict, Mar 26, 2007.

    Mar 26, 2007
  1. pokeraddict

    pokeraddict Webmaster

    Pro Poker Player
    Las Vegas
    I don't see it here yet so here it is.......

    You must register/login in order to see the link.

    NETELLER Announces Service Changes to Canadian and Turkish Market

    Monday, 26 March 2007 The NETELLER Plc Group (NETELLER or the Group) (LSE: NLR), the leading global independent online money transfer business, today announced several significant changes to its services in a number of markets.

    The Group continually assesses the risk profile and status of the markets its serves. Recent actions by regulators, payment processors, and online gaming operators have increased the uncertainty around certain activities related to online gambling in some jurisdictions. The Board of Directors of the Company reached a decision, on 25 March 2007, that the risk to the Groups ongoing business in Canada and Turkey has increased in the light of such developments. The Board has therefore concluded that the Group will no longer process transfers related to online gambling sites on behalf of Canada or Turkey resident customers.

    Reduced Service to Canada
    Cessation of Canadian transfers to gambling merchants: the Group will cease processing online gambling related transactions for Canada-resident customers with effect from 12.01 AM MST Monday 9 April 2007.
    Suspension of InstaCASH transactions: As of today Monday 26 March 2007, at 12:01 AM MST, Canada-resident customers were no longer able to deposit funds using NETELLERs instaCASH service either directly or from any online gambling site.
    Non-gambling services continue: Canada-resident customers will continue to be able to use their e-wallet accounts for non-gambling transactions, including peer-to-peer and pre-paid debit transactions.
    Available customer funds: Customer funds, including those of Canadian residents, are held in a pooled, segregated trust account and will be available for withdrawal by customers, on demand. Canadian customers continue to be able to use their e-wallet accounts for non-gambling transactions.
    Reduced Service to Turkey
    In light of recent legislation passed in Turkey on 28 February 2007, which prohibits certain forms of online gambling to be offered by any unauthorised domestic or foreign company to citizens in Turkey, NETELLER has decided to implement a voluntary phased withdrawal of the payment services related to online gambling that it offers customers to the Turkish market.

    Withdrawal of local bank funding options: Local bank deposit options for Turkey-resident customers were withdrawn on Friday 9 March 2007.
    Cessation of Turkish transfers to and from online gambling merchants: The Group has ceased processing online gambling related transactions for Turkey-resident customers with effect from 6.01 AM GMT Monday 26 March 2007.
    Non-gambling related services continue: Turkey-resident customers will be able to continue to use their NETELLER e-wallet account for any non-gambling related money transfers and withdrawals. Customers located in other parts of the world are not affected by this change, and NETELLER continues to service these customers in the normal manner.
    Group Business Impact
    The Canadian business of the NETELLER Group would likely have contributed significantly to the Groups revenue and profitability during 2007 and the loss of this business is now likely to have a material negative impact on the Groups results for the full year ending 31 December 2007. The Turkish business of the Group does not represent a material proportion of the Groups overall customer base, revenue or profitability.

    The Group does not anticipate making further significant reductions in staff as a result of these service changes as the Board believes that its Calgary-based operations are appropriately sized to handle the remaining non-North American business of the Group. The Group will continue to focus on the growth markets of Europe and Asia.

    Other Updates
    The Groups shares will continue to be suspended from trading on AIM in view of the continuing uncertainties the Group faces. Further announcements will be made as appropriate.

    The Company is working towards the finalisation of its audited annual results for the year ended 31 December 2006 and will announce the date on which these will be published to the market in due course.

    The Company would, in light of recent press comment concerning its announcement of 21 March 2007, like to make clear that the 75 day period referred to in that announcement was for agreement of a plan of distribution with the United States Attorney's Office. It would remain to be determined, as part of that plan, the precise timing of the distribution of funds to US customers.

    Further information is available on the Groups website in the form of updated FAQs.

    About the NETELLER Group
    Trusted by millions of consumers in over 160 countries to move and manage billions of dollars each year, the NETELLER Group operates the largest independent online money transfer business in the world. The Group specializes in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed the Group to support thousands of retailers and merchants in many geographies and across multiple industries.

    The Group is quoted on the London Stock Exchanges AIM market, with a ticker symbol of NLR. NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about the Group visit You must register/login in order to see the link..

    Media and Investor Contacts
    Citigate Dewe Rogerson
    Sarah Gestetner or George Cazenove
    Tel: +44 (0) 207 638 9571
    7 people like this.
  2. Mar 26, 2007
  3. jetset

    jetset Ueber Meister CAG

    Senior Partner, InfoPowa News Service
    I sense this is DoJ pressure as part of the negotiation to let Neteller off the hook and free to operate in Asia and Europe.

    If they can close down or substantially restrict North American online gambling it will be a major coup for the American authorities imo.

    Of course, other processors will step up to fill the gap, and it goes without saying that players need to be alert for scams going forward.

    Once again there are disappointingly short notice actions here, and this will do nothing for what is left of Neteller's reputation. As it stands, their financial reports in the future are likely to be pretty depressing when the US and these later bans start being reflected.

    Their suspension of trading in their shares can't last forever, either and the investors will then show what they think of the way Neteller has allowed itself to be browbeaten by the DoJ in my view.

    There was a comment on the announcement about the 75 days, too - don't hold your breath for fast payment, US players is what that constitutes:

    "The Company would, in light of recent press comment concerning its announcement of 21 March 2007, like to make clear that the 75 day period referred to in that announcement was for agreement of a plan of distribution with the United States Attorney's Office. It would remain to be determined, as part of that plan, the precise timing of the distribution of funds to US customers."

    This is going to have another adverse impact on the London listed companies in the industry in the short term, I think.
  4. Mar 26, 2007
  5. Mousey

    Mousey Ueber Meister Mouse

    Pencil Pusher
    Now where have we heard that one before?

    This is ridiculous. I am so confused. :what: Gambling is LEGAL in Canada!

    And if all this is somehow part of the DoJ and NETeller negotiations.... I think NETeller better get another lawyer. But then again, I've always thought that NETeller should have just told the DoJ and the USAO to go :xxx from the very beginning.
  6. Mar 26, 2007
  7. vinylweatherman

    vinylweatherman You type well loads CAG MM

    STILL At Leisure
    United Kingdom

    There is something we are not being told here. It is not only Neteller that has had this sudden urge to withdraw from the Canadian market. They must surely know something nasty is in the pipeline regarding gambling in Canada, and they don't want to get caught out as they were in the US, so are withdrawing now. The action in Turkey is understandable, as a law was actually passed making most forms of online gambling illegal. However, since Turkey is unimportant, they have chosen to shaft Turkish players by both announcing and implementing a total freeze on Sunday, which will leave Turkish players with funds trapped in limbo.
    Canadian players have just over a week to get funds out of casinos, through Neteller, and out to their banks. Given what happened in the end to US players, Canadian players should get their money out NOW if they only have Neteller as a withdrawal option, and investigate other ways to withdraw before they look for alternative deposit methods.

    Greek players should consider the implications of the arrest of an affiliate, they are likely to be the next market left high & dry by the processors. This is likely to be overturned by the European Court as restrictive marketing practice. EU rules will dictate that any online gambling operator authorised by one EU state should be able to freely offer services to any other EU state where any form of online gambling is allowed, even if only by a few chosen firms.
  8. Mar 26, 2007
  9. Mousey

    Mousey Ueber Meister Mouse

    Pencil Pusher
    You're right, I had forgotten about other pullouts form Canada -- which is a mystery I'd love to see solved. I know Canadian gamblers must be up in arms.... aren't they?

    And I totally agree with VWM, any Canadians who have money in NETeller -- get it out NOW, by whatever means possible.
  10. Mar 26, 2007
  11. unicorn40

    unicorn40 Dormant account

    cold storage warehouse worker
    Ontario, Canada....
    This really sucks!!! I have to find a new place to use now too. I've used neteller since PayPal quit. BTW......i don't think gambling is "legal" here...there just hasn't been much done at all about it yet....I kinda figured when the USA did that , Canada would follow at some point.
  12. Mar 26, 2007
  13. Itoldyouso

    Itoldyouso Banned User - opted out from the forum, but keeps

    Author Jerome Corsi filed a Freedom of Information Act request yesterday asking for full disclosure of the activities of an office implementing a trilateral agreement with Mexico and Canada that apparently could lead to a North American union, despite having no authorization from Congress.

    As WorldNetDaily reported, the White House has established working groups, under the North American Free Trade Agreement office in the Department of Commerce, to implement the Security and Prosperity Partnership, or SPP, signed by President Bush, Mexican President Vicente Fox and then-Canadian Prime Minister Paul Martin in Waco, Texas, March 23, 2005.

    Corsi specifically has requested the partnership's membership lists, constitutive documents, meeting minutes, meeting agendas and meeting schedules as well as all findings, reports, presentations or memoranda.

    He also wants all comments to representatives of the "Prosperity Working Groups" or other working groups, committees or task forces associated with the partnership along with internal and external interagency or intra-agency memoranda of understanding, letters of intent, agreements, initiatives and budgeting documents.

    Corsi believes President Bush effectively agreed to erase U.S. borders with Mexico and Canada when he signed the SPP.

    Geri Word, the administrator in charge of SPP, confirmed in a telephone conversation with Corsi that SPP.gov has not published the membership lists of the working groups or the many trilateral agreements the website documents indicate are being implemented.

    "This is all being done by the executive branch below the radar," Corsi told WND. "If President Bush had told the American people in the 2004 presidential campaign that his goal was to create a North American union, he would not have carried a single red state."

    The president, Corsi maintains, has charged the bureaucracy to form a North American union "through executive fiat ... without ever disclosing his plans directly to the American people or to Congress."

    Attorney Robert A. McGuire, who filed the request on Corsi's behalf and is preparing further requests, says if the president "is creating a new North American union government without the full and complete knowledge of the American people, we are facing a severe constitutional crisis."

    The purpose of the FOIA, he said, is to get the "full facts exposed in the light of day, available for the American people and for Congress to examine and decide."

    Rep. Tom Tancredo, R-Colo., is demanding the Bush administration fully disclose the activities of the SPP office.

    Tancredo wants to know the membership of the SPP groups along with their various trilateral memoranda of understanding and other agreements reached with counterparts in Mexico and Canada.

    Many SPP working groups appear to be working toward achieving specific objectives as defined by a May 2005 Council on Foreign Relations task force report, which presented a blueprint for expanding the SPP agreement into a North American union that would merge the U.S., Canada and Mexico into a new governmental form.
  14. Mar 28, 2007
  15. andi

    andi andi

    Sales & Marketing
    Check out the FAQ's page,
    You must register/login in order to see the link.

    When is the last day that I can transfer funds with an online gambling site?
    On April 9, 2007 all transfers to and from online gambling sites will be disabled for Canadian members :eek:
    So I guess we have until April 9 to use them?!?
    Someone suggested Moneybookers and Eco card but it seems eco only deals with one bank which isn't mine!

    ;) Apparently Canadians are followers not leaders, right behind ya USA!

    "I know Canadian gamblers must be up in arms.... aren't they?" LOL at mousey, Canadians don't get up in arms about anything! :oops:
  16. Mar 29, 2007
  17. pokerpal

    pokerpal Dormant account

    I hunt seals
    lol I contacted ctv about this yesterday by email...seems the story isn't a seller
  18. Mar 29, 2007
  19. lavalyn

    lavalyn Dormant account

    So, who's left? Firepay left the market about a month ago, Neteller leaves in a week and change...
  20. Mar 29, 2007
  21. andi

    andi andi

    Sales & Marketing
    I am really confused by this...:oops:
    Do we have until April9th or is it over now?
    Moneybookers is really confusing and I can't register click 2 pay because the website does not recognize my IP?!!
    Who knows............:what:
  22. Mar 29, 2007
  23. lavalyn

    lavalyn Dormant account

    You can continue to transfer money in and out of online gambling accounts until the 9th. Instacash deposit has been disabled as of a few days ago.

    If you have money in gambling accounts that you want to transfer out, do so ASAP. I'd not be surprised if a few less-than-scrupulous casinos decide to delay withdrawals from Canadians to Neteller just because they know they'll bounce, and the monies are stuck in your gambling account.
  24. Mar 29, 2007
  25. lojo

    lojo Banned User - repetitive violations of <a href="ht

    I noticed a while back in the rules section at nacha.org, an operations bulletin dated january 16 inre internet gambling. Food for thought.
  26. Mar 30, 2007
  27. kingkong098

    kingkong098 Experienced Member

    Customer Support from an online poker room today explained to me that since most Canadian banks derive a good percentage of their profits from US based activities (the major arena in Raleigh even carries a Canadian banks name - the RBC Center ie. Royal Bank of Canada Center), the US government is beginning to lean on these institutions to ban gambling transactions from all their divisions, Canada and other foreign markets included.

    I don't know how credible this person is but it certainly sounds plausible...and downright disturbing at the same time.

    Also, see http://www.casinomeister.com/forums...ussion/17233-curacao-bank-under-pressure.html
  28. Jun 17, 2007
  29. singletb

    singletb Dormant account

    Student/ Temporary Courier
    Delta, BC, Canada
    Which should I use?

    I withdrew my $ from Neteller & paypal but what is there left?

    Firepay? EcoCard? click2pay? urgghhh none of these have easy to use DEBIT CARD depositing

    By the way what exactly is the offical name for these kind of sites anyways? e-commerce/paysites/???
  30. Oct 23, 2007
  31. catcat941

    catcat941 catcat

    something is terribly wrong with neteller

    Neteller i n my opinion does not act as a normal business entity anymore .

    and does it matter due to what?

    they suffer a big lose in the US , and i dont know if it was politics ie americans like to control everything , so they cancel the money going out to better casinos than in vegas etc, or the 2 founders did moneylaundring .

    So canada and us acts the same sometimes ,

    so if neteller wants to recover the losses , why the hell they are acting like paranoid ,bad detectives , and bad money decisions takers .

    i have a friend from a county that does not require micro deposit for certification peer to peer , he provided passport , another id , and 3 different bills wich one include bank statment , and he was replied with way of reasons answers .

    they already suffered both american al ninyo , shares dropping ,

    and they give hard times to its clients .

    now the canada thing -they allow peer to peer , but they refuse gambling with neteller . DOES IT MAKE SENSE?? not to me .

    is about time neteller will return all the money to the americans players ,

    and declare a clear policy without round corners , about everything .

    and its about time , from us the players to move to another english ewallets like eco , also it does not provide atm , it is still secure , liberal and allows peer to peer . the withrawl time from ecocard or money bookers back to our banks is slow , but safe .
  32. Oct 23, 2007
  33. DakWinner

    DakWinner Dormant account


    I miss the good ole days when we were free. If you look in the forum there are still some methods of depositing and W/D

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