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Neteller shuts down Instacash for US players!

I had a balance of over $1000 when they decided to stop insta-cash....I was able to use $200 to fund, and every other deposit request has been declined in just the last half hour..........Doesn't look good for getting my remainder:eek:
 
US member update

Effective Immediately

Due to recent US legislative changes and events, effective immediately, US members are no longer able to transfer funds to or from any online gambling sites.

All US members will continue to be able to use their NETELLER e-wallet account to safely transfer funds to and from non-gambling merchants and are not required to close their account or withdraw their funds.

Please note that we are experiencing higher than normal support volumes and recommend that you read the FAQs for more information.

Link Removed ( Old/Invalid)

Well fellow Americans looks like were all fucked...

FYI - as far as I know there are NO non-gambling related business that do business with Neteller in the US...
 
What a joke!

This is one hell of a shambles! When are nominations opening for the 2007 casinomeister awards.

Seems some of my speculation earlier was spot on!! (I DO feel sorry for you US players that it was though).

Naturally they tell you there is no need to withdraw, but equally there is no need not to! There are NO "non-gaming" merchants apart form an isolated few, it's been Neteller policy to REFUSE requests for non gaming related merchant accounts. Worse, funds on hold in Neteller bear NO INTEREST, and are better off withdrawn and banked in the US (or spent), until this blows over, and it isn't blowing over any time soon.
Neteller US customers should immediately request the withdrawal of ALL funds in Neteller (unless they know of a non-gaming merchant), but accept that it may take time due to Neteller being hit by an avalanche of such requests. Other players outside the US should keep an eye open for any signs that Neteller are having cashflow problems with their forced exit from the US. Casinos may realise that non-US players are probably wondering which of them is next to go bust after losing the remaining US players.
There is a "ball park" indicator I can check tomorrow, and again Monday, which will show if US players have vanished from the scene in large numbers.
Neteller are also blocking withdrawals, which will mean serious dificulties for US players attempting to exit funds from casinos that still accept them. The lack of notice from Neteller has AGAIN deprived the US players from managing an orderly exit from the parts of the industry that decide to no longer accept them.
Please ensure your senators are made aware of how much money has effectively been locked in limbo by these rapid "knee jerk" moves by all parties concerned. Money that is now unavailable to the US economy, and may be for some time. If this is enough to skew the figures, it will show how many people are offended by being told what they can spend their money on.
 
I made a small deposit this afternoon and played a bit. I DO wish they had given us a few hours notice and I would have dumped my NETeller into some casinos.

**heavy sigh**

Too little, too late.:mad:
 
What pisses me off more than anything is my freedom is being limited! My chest is constricted with the anger I feel. I live in America damn it! The land of the freaking free!

I want to gamble with my hard earned money!


Exactly!! I've been pacing and cursing and fuming for the last couple of hours. It's infuriating!

And for me it isn't about whether I can gamble or not... it's the fact that the DOJ and FBI (MY damned government!) are stomping around like a bunch of storm troopers waving papers, threatening and arresting foreign citizens who operate legitimate businesses... Gaaaaaahhh... I could scream!
 
For such large companies to make the decision to close down operations to US customers, I seriously doubt that they will re-open ties to the USA.

You know they've already had their lawyers on it, and are going to concentrate on non-US activity.

Neteller, ECheck, Citadel - currently.
Moneybookers, Firepay - previously.

I'm really just stating this so that us USA people will realize that we need to find other options, and not hope for any of the above to re-open to the USA.
 
Has anyone been able to contact NETeller to find out if we can withdraw to our banking account? If not, how the heck are we going to get our money out? Their FAQ says, "US members who currently have funds in their e-wallet account may keep their funds safe in their account or are free to make withdrawals at any time they choose with a NETELLER Card." ... Well, I've got money in NETeller and I don't have one of their cards. So now what??
 
Neteller says funds used for gambling can not be transfered to or from...

There will be no withdrawals of funds to the US that were used to gamble with.

In case you missed it...

Neteller has just stolen our money... With the help of the US Dept of Justice...
 
Neteller says funds used for gambling can not be transfered to or from...

There will be no withdrawals of funds to the US that were used to gamble with.

In case you missed it...

Neteller just stole our money... With the help of the US Dept of Justice...

I hope you're not right about this, but it does seem possible.


BUT ON THE OTHER HAND,

There are people that are able to withdraw their money from the ATM card.
 
from the neteller US FAQ:

Am I required to withdraw my money from NETELLER?

No, there is no requirement for US members to withdraw their funds from their e-wallet accounts. US members will still be able to use their NETELLER e-wallet accounts for safe online transactions to non-gambling merchants, secure peer-to-peer transfers and instant payouts with the NETELLER Card.



so there are several ways to get your money....
 
Well, I had three deposits declined this evening before I figured out what was going on, I was halfway to contacting neteller support before I read the notice :)

This morning, I had requested a withdrawal of about 60% of my neteller balance, figuring that a) I had more in there than I needed, and b) wanted to get some out in case bank access got blocked.

This evening, I requested a withdrawal of the rest of the balance. As has already been mentioned, there's no reason to keep funds in neteller if you can't use it for gambling. And I'll probably request more withdrawals in the future as I get cashouts from slow-paying casinos.

It's probably bedlam at neteller right now, between customer service questions, and presumably a lot of withdrawal requests.

I just made my second deposit via click2pay, and I also made my first cashout request to it, interesting to see how it works as an e-wallet. Guess I'll look at instadebit too.

I don't think this is fatal, but it's definitely a huge short term disruption, and it's also pretty darn annoying, because neteller worked great for me.
 
Quote: It's probably bedlam at neteller right now, between customer service questions, and presumably a lot of withdrawal requests. Unquote

I think that is an understatement, LOL and it's all the more reason for Neteller to make sure they are communicating as much as they can to the market so that people know what's going on.

Panic and concern is not overcome by staying silent.

Just as an indication of how busy their Support must be, I had a routine sort of phishing enquiry I emailed to them and it took 48 hours before there was a response!
 
Has anyone been able to contact NETeller to find out if we can withdraw to our banking account? If not, how the heck are we going to get our money out? Their FAQ says, "US members who currently have funds in their e-wallet account may keep their funds safe in their account or are free to make withdrawals at any time they choose with a NETELLER Card." ... Well, I've got money in NETeller and I don't have one of their cards. So now what??
VIP customer support informed me that you will still have the EFT and check withdrawal options. However, due to the anticipated backlog there will be a 2 week delay for EFTs and 6 week delay for checks.
 
Actually this is rather good news to me since I am trying to scale back my gaming. The Instacash is where I go wrong. Without that option I will have to simply recycle my winnings, use my debit card which has a daily limit or use Instadebit which I prefer over Neteller.

It looks like a lot of casinos are going to be suffering from the loss of US business again. They took the initial hit when the UIGEA was passed now this will definitely cause some huge losses again. I wonder how many more casinos will pull out of the US market?

Yup, I get stupid with InstaCash...

What is it about InstaDebit that makes you prefer it over Neteller?
 
VIP customer support informed me that you will still have the EFT and check withdrawal options. However, due to the anticipated backlog there will be a 2 week delay for EFTs and 6 week delay for checks.

I emailed VIP support and asked if I could still use EFT to get my money out. I got this reply from VIP NETeller.
Thank you for the email. At this point in time the easiest and quickest
way to withdraw would be to obtain a NETeller debit card. Just log into
your NETeller account and apply. We can send you one as soon as possible

Somebody at NETeller want to work on setting up transfers to OTHER eWallets? Please?

What a freakin' mess...
 
I emailed VIP support and asked if I could still use EFT to get my money out. I got this reply from VIP NETeller.


Somebody at NETeller want to work on setting up transfers to OTHER eWallets? Please?

What a freakin' mess...

Mousey, I doubt that will happen, that they'll allow you to transfer to any other EWallet. I know you said you don't have one of their ATM cards. You really should apply for one ASAP. I doubt it will take you more than a week to receive it, and then you'll be able to get your money that same day. I think the limit is $1,000 per day. I know there are fees involved, but that would be the least of my worries. Eat the fees and get the cash right away, or wait possibly up to two months for an EFT or cheque.
 
i too live in the us. and used neteller for all my casino transactions. where do we go from here? pulling money out of the casino wont be a problem becuase i have reqyested a cashier check in the past and i get the money about 10 days later, sent to me in the mail. but dont know how to get money in the casino, bodog did send me an email with a few of their options such as nucharge. i have never heard of them.
 
Well I'm choosing EFT withdrawal, even if it takes several weeks. It's a large amount, so $1000/day with the ATM card won't get me my money any faster.

By the way, the only reason I have money stuck in there is because I had the unfortunate timing of initiating an EFT deposit last Thursday, which should be credited to my account by the end of this week. Had this money already been credited, I would have certainly moved it by yesterday to a trusted casino which pays by check.
 
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.:D :rolleyes:
 
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​
 
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.
 
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?
 
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.
 
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.
 
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.
 
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. :lolup:
 
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.
 
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.
 
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.
 
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
[email protected]
 
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.
 
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....
 
Cretins

:D 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:D

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:rolleyes: )
 
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!)
 
Singing the Neteller Blues....

:confused: :confused: 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.
 
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)?
 
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:mad: , 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:eek: ]

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

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