Do you think we will get our $$ back from neteller realisticly?

Question

I have about 2k in my NT acct. Initially they said 2 wks, now is 2-6wks. If the rumor about US goverment confiscated the funds for evidence is true then this could takes forever. will neteller stiffs us?

Answer 1

The government did not confiscate any money. But the change in the law along with the arrest of two Neteller founders caused an overnight shut down of the service in America.

The next day hundreds of thousands of Americans tried to withdraw their money, and this is going to take weeks to process. Not to mention the fact that some American banks may be refusing to deal with Neteller.

But you asked if Neteller is going to stiff us. It is not Neteller who will stiff us but the government who made this unnecessary and undemocratic change to the law.

Answer 2

The US government ONLY confiscated funds related to BetOnSports.com. This got twisted into the internet rumor that the US has confiscated all Neteller funds.

Second, even if your worst case scenario is true, it wouldn't really be Neteller stiffing us, it would be the US government for tying up our money.

Third, as previous poster mentioned, there was a "run on the bank" with Neteller since, unlike a service like PayPal, there's no reason to use it other than online gaming. They are probably facing short-term liquidity problems, as most institutions will keep deposits in some sort of low-risk investments so they can generate money while they have them. In addition, their check, EFT, and ATM services were all pulled out of DOJ fear.

Your best option, if you can still do it, is to transfer your money to a friend who has a Neteller account and lives in Canada/UK/elsewhere. They are still able to withdraw to their banks and to gaming sites. Then have the friend send you the money some other way (write a check, transfer $ to an online gaming site that you can still withdraw from, etc.). I think it costs like 2% but it's probably worth it. I know many poker players who have done this, and I'm currently trying to set up the same thing. If you have a "pending" EFT with them then you have to call and cancel.

Good luck, I'm hoping to get my money back too.

Answer 3

The situation with Neteller is frustrating and pointless. The idea that the government confiscated the funds is just absurd because of the logistics of finding out where every single US Neteller customer deposited their money from (plus there's no way to prove they actually did anything illegal with it).

There are two likely scenarios that I see.
1. Neteller was loaning out money and can't afford to pay back all the US customers at once, so they decided to just not pay any of them until they can pay all of them.
2. Neteller doesn't want to be accused of aiding people in obtaining money made from internet gambling by the US DOJ, so they are not willing to give people money that they got from gambling websites.

Lucky for me I only had a couple hundred dollars on Neteller when the DOJ decided to bully them around - so most of my poker money is still on the websites I play on. As for when I'll get my money... I'm not hopeful. I'm guessing Neteller is going to go belly up - there will be a class action lawsuit - and we'll all get about $0.10 on the dollar for our money.

Answer 4

click2pay or instadebit http://www.***************************/internet_banking.html