HOPE FOR NETELLER

[TheSalche]

just saw this at cardplayer, looks like we'll get our money back in 75 days

http://www.cardplayer.com/poker_news/article/8540

[xDiamond_CutteRx]

So long as I get it back, I'm happy... and then I will never do business with Neteller again.

[Gunslinger]

Per the agreements, the Group anticipates that within the next 75 days it will announce a plan by which the funds will be distributed to US customers. Navigant will also provide a report to the USAO on the Group’s current financial condition.

Maybe a little more than 75 days.

[TheSalche]

good point gunslinger

i suppose im glad that food on my plate doesnt depend on the $600 in frozen assets

[UrAteUp]

[quote]vyni

Posted: Wed Mar 21, 2007 10:52 am Post subject:

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Neteller has just announced that it has signed an agreement with the US authorities for the transfer of funds back to its US customers. They hope the process will be completed within 75 days.

Quote:
Neteller’s deal with the US Attorney’s Office (USAO) for the Southern District of New York and a company called Navigant Consulting means the company now has an outline of terms and timeline for the orderly distribution of funds. Navigant will also provide a report to the USAO on Neteller’s current financial position.

Neteller said it continues to cooperate with the US authorities. The company has been in discussions ever since it exited the US market following the arrest of ex-directors and founders Stephen Lawrence and John Lefebvre.

Ron Martin, group president and chief executive of Neteller, said: “We continue to be committed to returning funds to our US customers and working with the US Attorney’s Office. Progress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process.â€

[Fat Tony]

So long as I get it back, I'm happy... and then I will never do business with Neteller again.

Your anger is misdirected, you need to look to Washington, DC if you want to blame anyone. This fiasco isn't exactly Neteller's fault.

[xDiamond_CutteRx]

So long as I get it back, I'm happy... and then I will never do business with Neteller again.

Your anger is misdirected, you need to look to Washington, DC if you want to blame anyone. This fiasco isn't exactly Neteller's fault.

No, not entirely their fault. What I am upset about was the immediate cutoff of US customers from gambling sites instead of giving a grace period, and the inability to get so much as a straight answer out of Neteller when players repeatedly asked them to clarify to exact situation. I had to get all my information second hand from internet news sources. That, combined with Neteller's unbelievably slow response time, makes me never want to do business with them again. Not their fault I couldn't get my money, for sure. But the way they handled it was inexcusable in my view.

[Fat Tony]

The communication on their part certainly could have been a lot better, but I don't think saying "we don't know yet" to most of the questions would have made anyone happy either.

[xDiamond_CutteRx]

Less than 30 days to go before they release their fund redistribution plan.

I'm very much looking forward to getting my $700 back.

[Casey ATB]

I don't understand why anyone would leave funds sitting in Netteller. They were a clearing house for me.

If I wanted to put money into a poker account, I would specify the exact amount, and it would go from my bank account, via Netteller, to the poker account that I designated. It did not reside in Netteller for any length of time.

Likewise, when I withdrew money from the poker accounts, it would go to my bank account, via Netteller. Again, it did not reside in Netteller for any length of time.

From the posts that I see, players apparently dumped their money into Netteller and let it sit there.

Netteller provided an immediate, on the spot transaction, so I never let money sit there. Then too, there was no transaction fee for their service. Another plus.

[Phil14312]

I would let money sit for a little while, I never had more than a grand. It was basically for instant gratification, I didn't want to wait a couple days for my transfer to clear from my bank to neteller, and their instant cash thing cost like 2%, so I didn't want that either.

[Casey ATB]

I would let money sit for a little while, I never had more than a grand. It was basically for instant gratification, I didn't want to wait a couple days for my transfer to clear from my bank to neteller, and their instant cash thing cost like 2%, so I didn't want that either.

Netteller transactions were performed instantly, and there was no transaction fee for me… it was paid by the poker room.

[Phil14312]

I would let money sit for a little while, I never had more than a grand. It was basically for instant gratification, I didn't want to wait a couple days for my transfer to clear from my bank to neteller, and their instant cash thing cost like 2%, so I didn't want that either.

Netteller transactions were performed instantly, and there was no transaction fee for me… it was paid by the poker room.

I guess I never looked into it all that much, but I assumed they were instant and free with the money in your neteller account, but not money that was just in your bank account. Oh well, doesn't really matter much now.

[flafishy]

That would work sans fees through Instacash going straight from your bank to your poker account. But not the other way around. You had to withdraw to Neteller and then withdraw from Neteller to your bank account. That was usually a one- or two-day process.

It was smack in the middle of one of those processes when my funds got nailed.