'All Things Neteller. (including a Poll).'.

[X-Files]

Has anyone a word from Neteller as to the delay?

Not enough staff to process 6,000,000 payouts in 24 hours?

Time needed to loose the funds that were in escrow for the accounts?

Non USA transactions are going well on this end.

 

[BooksWorstEnemy]

Was Neteller practicing fractional reserve banking???

That appears to be the obvious conclusion. There is NO WAY they would not be allowed to process EFT's to deposit money into US bank accounts, in my opinion.

It looks to me as if they simply don't have the money.

They probably started out with a legit operation, but it was just way to easy to issue credits for cash to players for which cash simply didn't exist. They never expected a run on the bank and with the arrests, they got a run.

The really scary part of this is, we KNOW US banks do this and it is legal, yet no one cares. BoS did it too and got away with it for years, until the arrests.

FWIW, I have a STRONG hunch clearing firms like Ameritrade are doing the EXACT same thing.

I think we have all been stiffed by Neteller. Time will tell, but I am no longer holding my breath on the four figures they owe me. Hope my immediate conclusions are proven wrong.

Later,
Books Worst Enemy

 

[trytrytry]

the cash is gone Im afraid. really bad news here.

 

[Chispa]

Was Neteller fronting money?

 

[HuskerFan1]

i have no money in neteller but i think your wrong...if they didnt have the cash why would they blantantly close up shop? which is what they would be doing if they stiffed every american...the current managements stock holding would become worthless.....

it just doesnt make any sense to me...

 

[X-Files]

The difference is BOS didn't pay anyone. Neteller has been.

People are also still sending funds both ways between the
offshore books and Neteller.

 

[BAGIANT]

I would like to know why anyone would have any substantial balance at NETeller. I know I either transfer the funds to another book or poker site right away, or send the balance to my NETeller debit card for withdrawal! Why would you keep money there without getting interest?

 

[X-Files]

I would like to know why anyone would have any substantial balance at NETeller. I know I either transfer the funds to another book or poker site right away, or send the balance to my NETeller debit card for withdrawal! Why would you keep money there without getting interest?

1} So whenever one of your SB balances gets low {usually Piny}
you can immediately replenish it.

2} So whenever a juicy offer cums along, like deposit 200 get
200 100% bonus if you deposit w/i 24 hours, you don't miss it.

 

[PO69]

Of course they were using fractional reserve banking! I am not sure that is the correct title, but of course they were doing just this. Anyone would do the same. Having said that, I am certain that they do have access to the cash, but it might take a week or so to regain access to all of the funds.


Just imagine how many books want their money right now as well

 

[AlwaysKeen]

I voted C...this is definitely dissapointing in regards to the delay...

 

[AlwaysKeen]

books, you make a valid argument, but I side with X-Files here...

 

[bigbet1234]

:hahahahah

Bigbet, I would feel the same way except the Rx guarantees their funds because they are a sponsor.

 

[bigbet1234]

They told me again, it was moved to 1-2 weeks instead of 3-4 for EFT's.

Sounds a lot like BoS. "The checks in the mail"

 

[Aceking]

Neteller has customers in 160 countries .

Now its down to 159 countries .

Its business as usual , in fact I noticed more scalps now in NBA ,tennis and soccer at Pinnacle .

And the Superbowl bonuses are coming , so its going to be a good month .

 

[Chispa]

Of course they were using fractional reserve banking!

I don't see this as an "of course". I thought they only transferred frunds. I don't know that lending money was part of their business scheme.

 

[Deuceman]

My EFT withdrawl has been pending for 8 days now... i'm getting pissed.

 

[xpanda]

I think we have all been stiffed by Neteller.

People are having no trouble transferring money to their debit cards and withdrawing that way ... if this were an issue of customers being stiffed, it would apply to all withdrawal methods, no?

 

[crazyivan]

I have been paid by an EFT twice in the last 10 days by NETELLER. Once just a couple days ago.

 

[CaptainCarl]

I have been waiting for a withdrawal for 9 days and it was originally marked accepted, but now pending. I think US customers that do not pay for their ATMCard withdrawals are probably getting screwed. Really sucks that a company that everyone thought was on the up and up is sticking it to us.

 

[MarinersFan]

I have been paid by an EFT twice in the last 10 days by NETELLER. Once just a couple days ago.

Crazyivan, you are in canada, our eft's are processed on a different server, which are not getting bombarded with withdrawls, its a totally different situation for us compared to our US brothers/sisters, neteller has pulled out of the US market alltogether, we have nothing to worry about, they need us after losing there US market.