Pardon my ignorance, but what are the chances that Neteller takes everyone's money and runs?

[WalkofLife]

Guys please... I keep reading the same shit over and over again... "outrageous fees"... c'mon. I agree it'd be better for all of us NT users if the guys charged even less, but it's not feasible. Which other company offers the same service and convenience at what rate? Western Union? LMFAO!!!

Let me ask you something guys: when you stay in a 5 star hotel, do you pay more than if you were to stay in a hostel? Of course you do. Why? Because of convenience.

NT provides the player with a great convenient way to move your money around. Make a deposit into a shop, grind some profit and get the funds back to your account. Fees? if you understand a little bit about timing and basic logistics, it's free; as many books will pick up the fees.

What other options do you have? Which other entity would be able to provide the AMERICAN and CANADIAN market with the excellence and reliability NT gives you? Right now, no one else. There are other options out there, like E-Gold, but E-Gold still needs to forge a name for themselves. That takes time. On the mean time, Neteller is a company that has expanded to Europe and which expansion to Asia is projected for this year. A company, which CEO has been at the helm at other Fortune 500 companies.

NETeller is safe and solid.

And as many of you say, they'll make more money by simply staying in the business.

5 years from now, when Continental China uses NT as their payroll card, they will be by far one of the most profitable and solid companies in the world. Shit, they already are.

You don't trust them? Keep low balances. It's THAT simple.

 

[SunDevil]

Walk, you misinterpreted my tone. I don't think they necessarily overcharge for their services, maybe with the debit card fees but that's splitting hairs. All I meant was that with the fees they charge COUPLED WITH the MASSIVE VOLUME they transact each day, that a year of projected fees probably equals their total balances on hand - and hence no incentive to abscond with the balances.

 

[HacheMan]

Walk of life.....your reasons of us not having anyone else to turn to is exactly the reason Neteller takes advantage of us all with their fees......simply because they know this, that we don't have any other company to turn to. And the comparison to a 5* hotel is irrelevent.....yes their transfers are quick(usually) and efficient, but aren't they supposed to be? Point is, they take advantage of the fact we have no PayPal to turn to.....I hope in time another company steps forward that can be competitive with them....Not becasue Im too cheap to pay Neteller's fees, just because of the way they are using us......

 

[WalkofLife]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> All I meant was that with the fees they charge COUPLED WITH the MASSIVE VOLUME they transact each day, that a year of projected fees probably equals their total balances on hand - and hence no incentive to abscond with the balances. <HR></BLOCKQUOTE>

I agree 100% with you.

Thanks for the note, SunDevil. I didn't mean you. I have been reading a lot about this "unreasonable" fees and I can only say there's lack of understanding in this matter... just wanted to clear that up.

BTW, Shirley Manson is in love with my cock... She keep on singing "I'm only happy when you rain on me... Pour yourself down on me..." and stuff like that... I just let her do...

Hache Man;

Hey bro... you I meant...

. Say, would you please show us all a comparative analysis of the fees charged by Neteller with other entities that offer similar services? Let's say W.U.? How about PPATM? Do you trust the man behind PPATM?

I hear you loud and clear. But I believe you're wrong. How about Bank Wires?

 

[HacheMan]

Walk....of course, Neteller's regular EFT fees are free.....but those instant tranfers are outrageous.Also, the fees that not only we as players, but also the books have to pay for thousands of transfers each day are unreasonable.Im not sure, but surely these transfers are either done by the system, and/or by employees who oversee it with a couple clicks from a keypad........How is this, what takes a few seconds, deserving of the fee amounts they are raking us for? Oh...and Western Union...I agree, I have always thought their fees were laughable......

 

[WalkofLife]

Hache... I don't understand... Right now, there are very few options for us to choose from, you're right about that.

But if you comapre the various options we got... which one is by far the cheapest?

W.U.? They charge more than 10% of the total amount transfered at times. And they're not nearly as convenient.

PPATM? I don't even use them. Don't trust their main man.

E-Gold? I can only think of one big inconvenience here: Market Makers. Otherwise, this seems to be a good option, they still need to earn the international trust though.

Who else? So for you, the cheapest is still expensive? I can understand that but I don't share your opinion.

For me the only thing that counts is TODAY. And TODAY, NT offers the best deal out there... both in price and convenience... Will any other service offer better fees in the future? I'll look into it when I'm being offered.

Reality bites, bro. And in these specific case, it bites in form of fees. But what would you propose as an alternative method?

 

[HacheMan]

Nothing Walk.....no alternative method.....

My only point was.....They know we have only(mainly)them to rely on, so they are taking advantage of the situation.....Just ridiculous when you take into account that PayPal was free......This was my only point....When Paypal folded...$$ signs flashed in their eyes and heads.....

 

[WildBill]

Western Union is charging almost nothing compared to what they used to charge because of competition. Five years ago it cost about $50 to send $300 to Mexico, now the fee is $10-15. They used to take about a 10% exchange rate fee, or whatever they call it, now it is more like 2-3%. Simply due to competition. I am sure a competitor to Neteller would do exactly the same thing, but I am willing to bet a lot if someone truly got their act together and posed a challenge to them, they would go acting like Don Best and force books to do things exclusively with them or get cut off. Businesses in this industry seem to have a way about trying to enforce their monopolies as best they can. When you don't have US regulators forcing them to play fair, you get what is to be expected.

 

[Dante]

You can withdraw from your local ATM (most limits are 500$) for about $5.50 VIA the neteller debit card....there is also SURCHARGE free atm's that I posted a link to taking your fee down to 3.50$ for $500 or whatever the limit of the atm is....I think WU is just a bit more expensive then that

 

[HacheMan]

Dante, I think the point Bill was trying to make is that Western Union's rates has/is becoming more reasonable through the years, while those of Neteller have increased.........Dane, tell me exactly how the Neteller card works please, I may be interested...thanks

 

[Dante]

Hache my friend, It works just like a debit card...you can withdraw money from the ATM or use it to buy things in sotres that take debit cards where you can use your pin number...you will like it....

 

[HacheMan]

Dante, so you can use whatever you balance is at Neteller , correct? What are the fees?......Yearly....monthly.....%'s for uses, withdrawals....thanks again....

 

[Dante]

its on the site hache.... on the front page of neteller click the debit card...I think the fees are 2$ to transfer it to the debit card and 1.50 to withdraw plus local atm charge usually 2$...


To do a debitcard purchase at a store its $.75 per transaction

 

[HacheMan]

Thanks buddy......

 

[Dante]

anytime Sir..good luck

 

[WalkofLife]

.

[This message was edited by Walk of Life on February 04, 2004 at 03:35 PM.]

 

[WalkofLife]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>I am sure a competitor to Neteller would do exactly the same thing, but I am willing to bet a lot if someone truly got their act together and posed a challenge to them, they would go acting like Don Best and force books to do things exclusively with them or get cut off. Businesses in this industry seem to have a way about trying to enforce their monopolies as best they can. When you don't have US regulators forcing them to play fair, you get what is to be expected. <HR></BLOCKQUOTE>

WildBill;

That statement of yours is simply assassin. You have no factual proof to back up a statement such as that one.

I'm all about "laissez faire", so I agree that a NT competitor should come as an improvement for this whole industry, but for a respected poster like yourself to imply that NT would recur to the same unethicaal practices as Don Best is wrong. Simply because your reasoning is based on inconclusive evidence; conjecture or supposition.

 

[WildBill]

It is totally conjecture, I think when I say "I am willing to bet..." that makes it clear doesn't it? Am I not allowed to voice an opinion here??? Don Best's practices are not necessarily unehtical, just anti-competitive and in any industry with even minimal regulation wouldn't be tolerated. However, they operate offshore and aren't subjected to any regulation so quite simply they are hard-nosed business practices that they can get away with. I suspect Neteller could do exactly the same if they so choose. I hope they don't, but just seeing how the industry has operated over the last 7 years I feel it is probable they will do just that.

 

[WalkofLife]

Let me see if I get this, your willingness to bet on it makes it legitimate????!!!! Who are you anyway? Let me tell you, just one more poster. I personally like your articles and I respect your opinions most of the time... NOT THIS TIME.

BTW, NETeller is a Canadian company with filials in Europe and Asia. How's that like Don Best? Has Dana ever run a Fortune 500 company in the past?

Whatever you have to say about the future of this industry is merely speculation, as you CAN'T see the future.

 

[Dante]

WOW WOW ..Walk is PISSED!!!

I think he needs to find a CR hottie...but thats my opinion