Neteller shuts down Instacash for US players!

[vinylweatherman]

Don't believe a word.

Neteller are telling you all that you can easily withdraw by EFT, so no big hurry. Well, yesterday the same people were telling you that you could still deposit to casinos with funds already in Neteller, and just could not use Instacash. Last week, Neteller were reasurring US players that it would be "business as usual" until the 270 day consultation window was over & rules put in place to monitor transactions.

Today you are being asked to use other Webwallets, such as click2pay.

Anyway, just bumped into an old friend, he tells me the tale of how his friends over the pond were royally screwed last time he visited next month by all webwallets withdrawing from the US - turns out that Frist was actually an alien from the planet Retros, and was plotting to turn the world back into an ultra conservative society, completely free of all possible sources of sin. This was just the beginning, 2007 sees great changes, but 2008/9 sees Frist and his cohorts defeated and sent back to Retros, where they are wanted on an intergalactic warrant for impersonating a deity.

 

[julie1366]

Anyway, just bumped into an old friend, he tells me the tale of how his friends over the pond were royally screwed last time he visited next month by all webwallets withdrawing from the US - turns out that Frist was actually an alien from the planet Retros, and was plotting to turn the world back into an ultra conservative society, completely free of all possible sources of sin. This was just the beginning, 2007 sees great changes, but 2008/9 sees Frist and his cohorts defeated and sent back to Retros, where they are wanted on an intergalactic warrant for impersonating a deity

Way too funny! :notworthy​

 

[lots0]

If you have deposited money you should be able to withdraw that money only.

However, (and this is a BIG HOWEVER) if your money in Neteller is an affiliate payment from a casino or you have winnings from a casino in your account you are NOT going to be able to get your money from Neteller.

I also have a very strong feeling that at the very least Stephen Lawrence is fully cooperating with Law Enforcement... Why do I say this??? Because Stephen Lawrence's lawyer is a guy by the name of Peter Neiman. Mr. Neiman just left the employment of .... Yup you didn't guess it... the US ATTORNEYS OFFICE and not just any US Attorney's office in the USA but the very same office that filed charges against John L. and Stephen L.... Coincidence, I strongly doubt it.

I am willing to bet (I’ll give odds) that ALL the US Neteller records are now or will very soon be in the hands of the DOJ... and within a few months the charges will be dropped or lowered against Stephen L. and we will see charges brought against some US casino affilaites based on information the DOJ received from the Neteller records.

Also the news stories are saying that Neteller stopped transfers to the US on the 16th this is wrong affiliate payments and payment of winnings were stopped on the 15th within a few hours of the arrests.

 

[soflat]

If you have deposited money you should be able to withdraw that money only.

However, (and this is a BIG HOWEVER) if your money in Neteller is an affiliate payment from a casino or you have winnings from a casino in your account you are not going to be able to get your money from Neteller.

Says who?

I also have a very strong feeling that at the very least Stephen Lawrence is fully cooperating with Law Enforcement... Why do I say this??? Because Stephen Lawrence's lawyer is a guy by the name of Peter Neiman. Mr. Neiman just left the employment of .... Yup you didn't guess it... the US ATTORNEYS OFFICE and not just any US Attorney's office in the USA but the very same office that filed charges against John L. and Stephen L.... Coincidence, I strongly doubt it.

He'll cooperate because he is facing charges that carry a penalty up to 20 years in prison and loss of assets.

I am willing to bet (Ill give odds) that ALL the US Neteller records are now or will very soon be in the hands of the DOJ... and within a few months the charges will be dropped or lowered against Stephen L.

Why would you bet on that? Does Stephen L even have access to those records?

 

[lots0]

Says who?

Neteller

He'll cooperate because he is facing charges that carry a penalty up to 20 years in prison and loss of assets.

He won't lose the assets not in the US and there is no way he was going to prison for twenty years... You don't have much experience with the US courts do you? People with money don't go to jail... for long.

Why would you bet on that? Does Stephen L even have access to those records?

I would bet on it because I would win. You really think these guys have no connection with Neteller now...

I know you don't want to hear what I have to say... It sucks... But it is the truth.

 

[Pinababy69]

If you have deposited money you should be able to withdraw that money only.

However, (and this is a BIG HOWEVER) if your money in Neteller is an affiliate payment from a casino or you have winnings from a casino in your account you are NOT going to be able to get your money from Neteller.

You say Neteller told you this? Was this in an email or on their website? Can you provide us with some more info, because this wasn't my understanding at all. I was under the impression that no NEW payments from casinos or affiliate companies would be processed into Neteller accounts, not that you can't withdraw whatever existing funds are there....regardless of where they came from.

Edited to add: A few people withdrew fair sums of money last night and this morning from Neteller, via the ATM method and there were no problems. I think that tennis_balls said he withdrew $500, and someone else withdrew $1,000. And as far as I know, they were funds from gambling.

 

[lots0]

A Neteller Rep, told me this on the phone.

And if you read the Neteller "faq" you see that it clearly states Neteller will only transfer non-gambling monies to the US.

For those that were able to get a little money out... congrats your luckier than me.

What I would hope is that Neteller would transfer the gambling monies back to the casinos that issued the payment to Neteller, so the casinos can pay directly the winners and Affiliates the money due them.

 

[Addisyn]

I prefer Instadebit over Neteller simply because they process their instacash much faster and their limits are lower. It is impossible to go nuts with them. You have a limit of $1,000.00 daily, $1,000.00 weekly, $3,000.00 monthly.

Just now I asked Instadebit via live help if they were planning on cutting off US players who fund gaming. This is the answer I received. The qualifer being the word immediate.

The legislation has no immediate effect on INSTADEBIT and we continue to provide our services to our customers as normal.

Just encountered a problem with a RTG. I had redirected my withdrawal to Instadebit and was told when I asked live help they aren't processing withdrawals to Instadebit. They told me I could ask for a check which would take over 2 weeks because of the current funding problems.

So I would check with a casino before you commit any funds as to exactly how you are going to be able to make a withdrawal. My blood has really started to boil now!

ARGHHHHHHHHHHHHHHHHHH!!!!!! Ah that feels better. I think maybe a long drive screaming at the top of my lungs is in order.

 

[REOdeathwagon]

Just encountered a problem with a RTG. I had redirected my withdrawal to Instadebit and was told when I asked live help they aren't processing withdrawals to Instadebit. They told me I could ask for a check which would take over 2 weeks because of the current funding problems.

Lets hope it's not - 'we need to take more deposits in (and since NETellers problems, it's real slow)- so we can pay withdrawals'.

The mail works faster than over 2 weeks. Jeez.

 

[REOdeathwagon]

I prefer Instadebit over Neteller simply because they process their instacash much faster and their limits are lower. It is impossible to go nuts with them. You have a limit of $1,000.00 daily, $1,000.00 weekly, $3,000.00 monthly.

Just now I asked Instadebit via live help if they were planning on cutting off US players who fund gaming. This is the answer I received. The qualifer being the word immediate.

Thank you for the info. on Instadebit. I suppose I will be checking them out.

 

[lots0]

It is going to be a long while before I trust another net wallet, after being first screwed by paypal and now Neteller.

From now on I am going to deal directly with the casinos, no more middlemen.

 

[PackerBacker]

I still have $900 at Neteller and applied for their debit card this morning. Here is the email response I received 5 minutes ago (note the "Valued" title):


NETELLER

-----------

Dear Valued NETELLER Member,

Your application for a NETELLER ATM Card has been declined.

Should you have any questions, please contact NETELLER, available 24 hours a day. We appreciate your patience and cooperation.

Thank you for choosing NETELLER.

Best regards,
NETELLER
ATMcards@NETELLER.com

 

[plonnin]

I've heard of them being declined before. A phone call always cleared it up. Coincidentally, I called this morning to request a new card to replace the one I lost a while back, and that was accepted.

 

[lots0]

I can't get through.

Everytime I try, I get disconnected after being on hold for 15 or twenty minutes.

 

[lots0]

Well I just tried and got through after 15 minutes on hold...

Will wonders never cease.

After speaking to a rep he put me on hold so he coule get the answer to my question.. and then I got disconnected.

Please note the time of the last two posts....

 

[Mousey]

Thank you for the info. on Instadebit. I suppose I will be checking them out.

Unfortunately, it appears that InstDebit has dumped all US players also.

 

[vinylweatherman]

Cretins

Neteller don't have a clue do they!

They pull ALL services for US players, tell them not to worry about the funds, then they start behaving like a casino!

If they are saying "NO" to requests for the ATM cards for US players who have no other viable means of emptying the account, and not having a means for them to get through URGENTLY, they are effectively impounding those funds at their leisure. This is what happened with CryptoLogic in October. Players found the bonus not working, one asked why and was told US players could no longer have the bonus, but could still deposit and play as normal. Asked why, they said they were not allowed to say at the time. On the Monday, US players found their accounts locked without warning. When they complained they were told that all US accounts had been locked and monies would be returned over the next few WEEKS, naturally, they would not allow the US players to withdraw through normal channels and get the money within a day, as they had locked the accounts. Had they said this would happen, most players would have withdrawn the balance themselves.

Same now with Neteller, lying to US players so that they don't all rush for the exit at once (Monday), but it turns out they just needed time to lock the doors (Tuesday), before the money got out (Wednesday?).

I would suggest anyone unable to gamble see if they can get a trading account and "short" Neteller stock

Neteller MAY have the funds in trust accounts, but they ORIGINALLY stated that UK regulation would protect deposits under the Investor Protection Scheme. Come the big day though, this promise went into full reverse, and they only have a limited licence to "issue eMoney", and investor protection is a mere 1000 Euro (or 1000), rather than the full scheme which covers up to 30,000 per depositor per financial institution. If Neteller really DO "bite the dust", this is the most that can be guaranteed by statute, the rest relies on the quality of the "on trust" status of client deposits.

Neteller (or their legal and PR staff) are of course reading all these discussion threads, but they will not reply to individual forums - but they need to know what the general feeling is so that they can avoid making a disastrous blunder (hey, so what went wrong then Neteller )

 

[REOdeathwagon]

I googled "eMoney", and couldn't find an answer VWM. What is "eMoney"??

Could you please explain?

 

[vinylweatherman]

eMoney

I googled "eMoney", and couldn't find an answer VWM. What is "eMoney"??

Could you please explain?

It's a registration category.

 

[vinylweatherman]

Permissions

E Money or "Electronic Money" issuers are more lightly regulated than a "proper" bank that deals with "real" money.

It is a curious idea, you pay, say, $1000 of REAL US Dollars into a Neteller account, and these REAL Bucks end up in a client trust account, presumably alongside other client funds. Neteller then issue you with eDollars, 1000 of them. You can use these eDollars at participating merchants and members, and in the end, a merchant or client decides to cash in their eDollars for REAL Dollars again. As the issuer, Neteller has to convert the eDollars back to REAL Dollars that can be paid into a bank, or taken via ATM. This is where they make the money, they charge a fee to withdraw, (a lot if by the ATM card), and they charge for all the transactions, which pretty much all casinos swallow as overheads.

If the funds in the trust accounts is less than all the eDollars in circulation among Neteller members, both merchants and clients, then they may have a problem. if such a situation happens at a time of turmoil, with many clients wanting their eDollars turned back to REAL dollars, Neteller has to draw on the trust accounts. IF they have been seriously "wrong footed" by events, they may have trouble doing this with the speed clients expect, and in a worst case scenario may not have sufficient funds in trust to meet all the requests. (This will depend on the level of fraud suffered by Neteller - no fraud losses, no problem, but there have been a few posts that indicate a number of fraud hits of late, and fraudsters are likely to be taking full advantage of the current situation before the dining table gets put away for good!)

 

[Scounselor]

Singing the Neteller Blues....

I'm so glad for Casinomeister.com! I can log on and get answers to all my online gambling questions "In-stally"!

I was totally floored yesterday when I started getting emails saying I could no longer use Neteller Instacash at some online casino groups. They all recommended that I go back to using the pre-funded Neteller option, or open an e-check account.

Today, I got the same flood of emails stating these casinos will no longer take Neteller pre-funded OR e-check (Citadel)! Go figure!

Good thing I didn't gamble yesterday! I might have wasted my time setting up an e-check account; or worse, I could have deposited money and then found it all tied up with this new development.

I fully expect that tomorrow I'll get emails saying, "No longer accepting any US players".

Question: I've noticed that some casinos disguise their billing name so I can still deposit directly to them using my (US bank) debit card. Why don't they all do this?

I'm really confused about how to deposit now. Not every casino I use gave me the curtesy of an email about Neteller shutting down. Yesterday I thought it was some kind of a beef between Neteller and just these few casino groups.

 

[Rollo]

Neteller

He won't lose the assets not in the US and there is no way he was going to prison for twenty years... You don't have much experience with the US courts do you? People with money don't go to jail... for long.

Well, that used to be the conventional wisdon, but they seem to be going away for a long time these days becuase people are really fed up. Recent examples...

Jeffrey Skilling of Enron fame - sentenced to 24 years and fined $45 million

Dennis Kozlowski of Tyco - 8 to 25 years in prison.

Arkadelpia's John and Timothy Rigas - 15 and 20 years, respectively.

Bernie Ebbers of Worldcom - 25 years in a Louisiana prison, ouch.

The Neteller dudes could well end up doing 10 to 15 years. I think the wealthy today get off by hiring a massive and highly talented legal team that overwhelms the prosecution, but these are DOJ prosecutors (so they are talented) and the case seems pretty open and shut. I bet they'll cop a plea.

The scary thing is that these Neteller things were in the works a long time before the recent legislation. Pokerstars and Bodog need to get ready (and not in that order). I'd bet Calvin Ayre already has a sealed indictment waiting for him.

Anway, in other news I went to change my mailing address at Neteller today and I noticed, I kid you not, that "United States" had been removed from the list of country options in the drop down menu. WTF? I'm hoping that this was just a browser issues (doubtful) or a temporary glitch (more likely). Did anyone else see this or am I imagining things (not likely)?

 

[tim5ny]

Bye Neteller Assholes! I hated you anyway!

 

[vinylweatherman]

No

I have been reading the releases at the London Stockmarket site. Neteller have issued a number of "read between the lines" items warning investors how SERIOUSLY they took this leglislation back in October. They have been working on a means to block certain countries from depositing at certain merchants, while leaving other unaffected. They intended to have this all ready well before the so called 270 day window was over, so that whatever the US said banks had to do, Neteller would be ready to act immediately. They also committed to an "orderly withdrawal" from the US market in due course, in order to best protect the interests of the business and shareholders.

Well, bugger the customers though , who were NOT kept informed of the various stages unless they made it a habit to read Stock Exchange regulatory releaseds and "city" news feeds".
What they were telling the City differs from what they were allowing US players to believe, that Neteller would stick with it till the bitter end.
They state in this weeks release that the decision to withdraw altogether was "voluntary". Bollox to that, they pulled the plug THEN, hours later, made the announcement to players! Nothing "orderly" about that.
Lastly, they state that all funds held in US accounts are available "on demand", irrespective of any inability to transfer to any particular site.

US players should jam that phoneline and DEMAND the INSTANT processing of their funds. If the line is toll free, get a speakerphone and press "redial" every time it cuts out, while you sit back and do something else, like blow off steam here.

Of course, if yours is merely a QUERY relating to the trading update of the 18th January 2007 for the AIM quoted stock Neteller, then you are cordially invited to contact:-

Enquiries:

NETELLER + 44 (0) [- seek, and ye shall find, but I don't want my gonads on the rack ]

Ron Martin, President & CEO
Eric Hughes, Chief Financial Officer
Andrew Gilchrist, VP Communications

 

[yameater]

Alright, I need some guidance..I've been using Neteller exclusively since Firepay went by the wayside. What is my next best option for funding my gambling habit since I live in the US?

Vickie40: Instadebit. They are very efficient and I've never had a problem with them.