3/5 Update for US Neteller Clients Pending EFT's

SENDITIN · Mar 5, 2007

Have been reading conflicting statements here regarding Neteller pending EFT's and figured I would try and lend a credible report on what is going on based on experience.

Apparently any EFT made Jan. 16th or before that never made it to your bank accout CAN'T be cancelled. I suspect this money is part of what was grabbed (55 million) at the 3rd party processor by the Feds. Any EFT made after that point CAN be canceled and the money restored to your balance.

xpanda · Mar 5, 2007

Thanks for the update and clarification, Senditin.

Dante · Mar 5, 2007

WOW..scary stuff!

Schouest · Mar 5, 2007

Well mine was on Jan 16th...but it not only did not clear, but is still marked pending, BUT my bank account is now listed as uncertified, so I dont know what to do now !!

SENDITIN · Mar 5, 2007

Well mine was on Jan 16th...but it not only did not clear, but is still marked pending, BUT my bank account is now listed as uncertified, so I dont know what to do now !!

Correct...it is pending but not cancelable by Neteller....it's in lala land somewhere and as I said I suspect this is part of the 55 million that was seized. The uncertified label is to prevent you from transferring the money to another neteller member outside the country (peer to peer).

johns1124 · Mar 5, 2007

Where did you get this info at? So how does the US Government "Grabbed" funds sent on only a Specific date? Logic would think that they would be able to "Grabbed" all funds from 16th or later. The founders were arrested on the 16th at 10:30am PST. roughtly. So what did the Government press the "Grabbed" Button and take everyones funds that were pending and in transit throught the ACH system at that time?

Sorry to inform you ACH system don't work that way, nor that fast. Uncle Sam don't have a "Grab" button to take funds comming from or two a specific account. It can be done, but takes time to get the filters in place. Who ever told you this is pure hogwash.

SENDITIN · Mar 5, 2007

Where did you get this info at? So how does the US Government "Grabbed" funds sent on only a Specific date?

If you actually read my post I said I suspect that's where the money is. The government already reported that they froze 55 million in transit so they obviously did something around the 16th time frame. What and how they actually grabbed the money is up for debate....bottom line is you can't restore those funds back to your balance at neteller which may be a moot point anyway.

dave2007 · Mar 5, 2007

SENDITIN said:
Apparently any EFT made Jan. 16th or before that never made it to your bank accout CAN'T be cancelled.

I requested several EFTs on the morning of the 16th and they were all declined and credited back to my account.

SENDITIN · Mar 5, 2007

I requested several EFTs on the morning of the 16th and they were all declined and credited back to my account.

What time were these done? Mine was 9 in the morning.

dave2007 · Mar 5, 2007

Between 10 and 11 EST.

SENDITIN · Mar 5, 2007

Between 10 and 11 EST.

Very interesting.....Would love to here if anyone can't restore an EFT and what time the transaction originally occurred.

ETH365 · Mar 5, 2007

My EFT withdrawl was requested Jan 17 17:31

It currently says 'Pending' (in grey letters), with no option to cancel. I have no idea whats up with this and fear the worst.

punchmaster · Mar 5, 2007

not sure.

I'm not so sure about this because I made some EFT withdrawals on the 15th and 16th and once they were stuck pending, I was able to get them canceled and back into my account, ready to peer to peer to a buddy in Canada, and apparently I missed that deadline by about 2 hours

hno:

Isn't there a court date mid march for the 2 they arrested?

dave2007 · Mar 5, 2007

punchmaster said:
Isn't there a court date mid march for the 2 they arrested?

The U.S. Attorney's Office for the Southern District of New York extended the deadline until March 16 to decide whether to indict the co-founders of Neteller.

SENDITIN · Mar 5, 2007

It currently says 'Pending' (in grey letters), with no option to cancel. I have no idea whats up with this and fear the worst.

Eth,

You have to call them to cancel the EFT.

punchmaster · Mar 5, 2007

dave2007 said:
The U.S. Attorney's Office for the Southern District of New York extended the deadline until March 16 to decide whether to indict the co-founders of Neteller.

I was under the impression that depending on this outcome, it could have quite a bearing on how quickly (if at all

hno: ) US customers get their money. It's hard for me to fathom that people would act as pure thieves here... I could really use the money for tax time. I recall reading the news of the arrests and deciding what to do. Sending money out to offshore unregulateds sportsbooks didn't seem like the logical thing to do given what happened to pinnacle, etc, but apparently it was the way to go. I figured better to have money in a supposedly regulated public company.... damn

Deuceman · Mar 5, 2007

SENDITIN said:
It currently says 'Pending' (in grey letters), with no option to cancel. I have no idea whats up with this and fear the worst.

Eth,

You have to call them to cancel the EFT.

I'm in the exact same situation here... what good is cancelling the transfer though???? Doesn't sound like there is any other option to get the $$ back besides waiting for the EFT to go through? Am i wrong?

Woody0 · Mar 5, 2007

punchmaster said:
It's hard for me to fathom that people would act as pure thieves here...

I don't thinkthe U.S. Attorney's Office for the Southern District of New York is necessarily a thief.

SENDITIN · Mar 5, 2007

I'm in the exact same situation here... what good is cancelling the transfer though???? Doesn't sound like there is any other option to get the $$ back besides waiting for the EFT to go through? Am i wrong?

At this point you're not wrong...I just wanted to get in a position to x-fer the funds if a legit non-gaming merchant pops up...I've seen a couple on Ebay but the stuff they were selling was of no interest.

pumpuup · Mar 5, 2007

Can you transfer right now to non-gaming merchant?

SENDITIN said:
I'm in the exact same situation here... what good is cancelling the transfer though???? Doesn't sound like there is any other option to get the $$ back besides waiting for the EFT to go through? Am i wrong?

At this point you're not wrong...I just wanted to get in a position to x-fer the funds if a legit non-gaming merchant pops up...I've seen a couple on Ebay but the stuff they were selling was of no interest.

If your funds are not under an eft pending transaction and they are in your Neteller account balance, can you even transfer to a non-gaming merchant even if you could find one?

Has anybody on this board recently transfered to a non-gaming merchant?