Feb 20th - What are US Customers current options?

[WashDCWinnerz]

I have just a little bit of money left in my neteller account. I'd like to either get it out or transfer it somewhere where I can buy something so it's not just sitting in the account.

I would consider sending it to a poker site first off.

If not, I'd like to buy something electronic like a TV.

Does anyone know of any sites that will accept my neteller currently? Thanks.

 

[WashDCWinnerz]

Ok to make this easier.

First question:

I am a US Customer with money in my neteller account. Is there anything at all that I can do with my money right now. Either transfer it to a non-gaming retail merchant or to another merchant? Just transfer it to buy something.



Are there any poker sites that still accept Neteller?

 

[Actionbrett]

I would use the search feature and it will give you all the answers.

When was the last time you checked this site for information?

 

[BigAltheShoeman]

Courtesy of 911.com

NETeller on the Brink: Gambling911 Advisory for all Non-US Customers
We've said it once and we are going to repeat since a number of people haven't quite caught on. If you are a non-US citizen using third party payment solution, NETeller, Gambling911.com strongly advises you to stop utilizing this service immediately.
We continue to read how gamblers are using NETeller outside the US, despite reading about all the issues surrounding this crumbling company - once the largest of its kind in online gambling. Over $5 mil in US customer funds have been withheld and Gambling911.com believes at this time that this money will never be returned to customers.
Yesterday, NETeller laid off 250 people.
"These 250 layoffs are still ongoing," claims one NETeller manager, who wished to remain anonymous. "There were more on Friday and more of us will be leaving at the end of the month. Even executives are leaving."
The North American President, Gord Forbes, is said to be on his way out the door the end of this month as well as Dale Johnson who is VP of Asia operations.
"And of of the Higher up's in Finance are also toast!," this manager stated.
"I've never seen anything like this in all my years of Security work. But I guess on one upside, they realized they terminated/laid off too many Call Center Reps that a hand full are being hired back on."
The US Attorney’s Office for the Southern District of New York have decided to extend the deadline on whether to indict the Neteller founders Stephen Lawrence and John Lefebvre.

Both men were charged with transferring billions of dollars in illegal gambling proceeds, and will not be heard in court until March 16, 2007. All US customers will now have to wait at least a month to recover their money that would have otherwise been spent on casino and gambling websites.
----
Christopher Costigan, Gambling911.com
Originally published February 17, 2007 11:32 am ET

http://www.gambling911.com/NETeller-021707.html

 

[BigAltheShoeman]

NETeller on the Brink: Gambling911 Advisory for all Non-US Customers
We've said it once and we are going to repeat since a number of people haven't quite caught on. If you are a non-US citizen using third party payment solution, NETeller, Gambling911.com strongly advises you to stop utilizing this service immediately.
We continue to read how gamblers are using NETeller outside the US, despite reading about all the issues surrounding this crumbling company - once the largest of its kind in online gambling. Over $5 mil in US customer funds have been withheld and Gambling911.com believes at this time that this money will never be returned to customers.
Yesterday, NETeller laid off 250 people.
"These 250 layoffs are still ongoing," claims one NETeller manager, who wished to remain anonymous. "There were more on Friday and more of us will be leaving at the end of the month. Even executives are leaving."
The North American President, Gord Forbes, is said to be on his way out the door the end of this month as well as Dale Johnson who is VP of Asia operations.
"And of of the Higher up's in Finance are also toast!," this manager stated.
"I've never seen anything like this in all my years of Security work. But I guess on one upside, they realized they terminated/laid off too many Call Center Reps that a hand full are being hired back on."
The US Attorney’s Office for the Southern District of New York have decided to extend the deadline on whether to indict the Neteller founders Stephen Lawrence and John Lefebvre.

Both men were charged with transferring billions of dollars in illegal gambling proceeds, and will not be heard in court until March 16, 2007. All


US customers will now have to wait at least a month to recover their money that would have otherwise been spent on casino and gambling websites.
----


Christopher Costigan, Gambling911.com
Originally published February 17, 2007 11:32 am ET

http://www.gambling911.com/NETeller-021707.html




That's the Story

 

[AdamSelene]

I am a US Customer with money in my neteller account. Is there anything at all that I can do with my money right now.

Have you been on another planet? In a coma? On a deserted island?

All U.S. NETELLER accounts are frozen. Period.


They won't be unfrozen until NETELLER negotiates a deal with the DOJ, which may take several months. If the DOJ doesn't deal, they won't be unfrozen until the court cases are finished, which will take years.

 

[AdamSelene]

There's no financial reason why NETELLER will not continue to be a viable company for non-US operations -- unless they seriously cooked their books.

They have $274 million in accumulated profits and $50 million in U.S. account holders money (excluding the $55 million the U.S. government is holding); and their non-US operation should be profitable alone.

That's not to say they cannot self-destruct and be stupid. What ever happened to BoS supposedly refocusing on Europe and Asia?? Everyone jumped ship and no one was left to run the company.

 

[VanWilson]

Adam,

Your posts are both incorrect. US accounts are not frozen as you can transfer funds to non gaming merchants. Just call them and they will tell you that is true.

Second, Where did you get that ridiculous figure that Neteller is only holding $50 million of US customers funds? The amount they have is much closer to a 700 million....Get your facts straight next time please...

 

[eman]

VanWilson. Do you have a source????

 

[Boston1]

What makes this Neteller situation even worse than what it is, is the fact that posters here are giving misinformation on a regular basis. Nobody here knows who to believe anymore about this issue important to everyone. Kind of surprised moderators allow this. Too much at stake on the most important issue this sight has ever had to allow this to go on.

 

[VanWilson]

Eman, The only think I know to be 100% fact is that US citizens can transfer funds to non gaming merchants. In terms of knowing how much money Neteller has on deposit, it is only a guess. The 55 mil was only what Neteller had in float in the US for payments to be made to clients and for ach's that they were collecting. To think that they would have in float any more than 5-10% of monies on deposit, in my opinion only, would be impossible.

 

[AdamSelene]

Your posts are both incorrect. US accounts are not frozen as you can transfer funds to non gaming merchants. Just call them and they will tell you that is true.

Several people have posted on this forum stating they have non-gaming merchant accounts with NETELLER, and NETELLER has stated they are unable process payments from U.S. client accounts.

Dear xxxxxxxx,

Unfortunately at this time Neteller is unable to accept any online merchants transactions based out of the USA.

I do apologize for any inconvenience that this may cause.

If you have any further questions please don't hesitate to contact us at anytime.

Regards, ​

xxxxx xxxxxxx​

Account Manager

Merchant Business Development
NETELLER
​

​

​

​

Maybe I misunderstood the posts. Do you have a non-gaming merchant account with NETLLER? Have you transfered money to a non-gaming merchant account? By all means, post a rebuttal.

NETELLER is also not accepting applications for merchant accounts at this time, so someone cannot setup a new non-gaming merchant to transfer out US funds. You have contrary information on that too?

Second, Where did you get that ridiculous figure that Neteller is only holding $50 million of US customers funds? The amount they have is much closer to a 700 million....Get your facts straight next time please...

Why don't you look up the facts intead of making them up?

Half-year-end 2006
Customer balances (non-europe): $120,079,404

Accumated profits on the balance sheet:
Cash and cash equivalents $135,921,390
Restricted cash (Note 3) $28,829,015

SRC: http://investors.neteller.com/neteller/upload/1NLRInterims2006releaseFINAL11sep062.pdf


If you have the year-end 2006 figures, go ahead and post them. They haven't been published yet.

 

[AdamSelene]

They have $274 million in accumulated profits and $50 million in U.S. account holders money (excluding the $55 million the U.S. government is holding);

Correction, $164 million in accumulated profits in cash. (Half-year-end 2006)

 

[AdamSelene]

Second, Where did you get that ridiculous figure that Neteller is only holding $50 million of US customers funds? The amount they have is much closer to a 700 million....Get your facts straight next time please...

Year-end 2005 reported $97 million owing to customers (non-europe), half-year-end 2006 reported $120 million owing to customers (non-europe).

It's on page 15 of 19 if you're too lazy to find it.
http://investors.neteller.com/neteller/upload/1NLRInterims2006releaseFINAL11sep062.pdf

Even if you want to make a projection, $160 million may be reasonsable, $700 million makes you look seriously ignorant.

 

[VanWilson]

Adam,

I have been helping people send funds every day to a non gaming neteller merchant for over 3 weeks now. If I am incorrect on the amount of funds, i stand corrected....

 

[AdamSelene]

I have been helping people send funds every day to a non gaming neteller merchant for over 3 weeks now.

That is truly excellent news then. My comment was based solely on information provided by other posters.

Has anyone reputable here used your service? Take no offense, people ought to be vary wary of potential scammers.

 

[pumpuup]

Van Wilson are you for real or just a scam artist

Van Wilson,


I wrote to you in regards to paying a fee to get my money out of Neteller. I also stated that Neteller will not cancel any eft pending withdrawls in which you stated that they would do so if you sent them an email. They will not cancel any eft pending withdrawls from US customer as I understand and have tried unsuccessfully for a month now. Can anyone confirm this for me now? Thanks.

 

[lander]

Adam,
Glad I'm not the only one that found the honor system to transfer a little fishy when all the endorsers had a combined 20 posts.

 

[marc]

Van,

If you have been helping people for 3 weeks now, and you mentioned earlier that so far people have gotten 150k out of neteller, why not have some of those people come foward and tell us of thier experience.

 

[tkf18ny]

because hes full of shit and if he gets just one person to scam he makes out like a bandit