Starting to get nervous about Neteller cashout |
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Posted Mon Jan 22, 2007 11:31 pm GMT by mackkie
This marks the 5th day my cashout has been in progress. Neteller historically has xfered my cashouts back into my account in 2, maybe 3 days max. I did cash this money out before neteller made their big announcement, but i sure hope I dont get screwed by them. Good thing poker stars took care of ~500-600 of my cashout and i only have 100 pending in neteller, Id be sweating a little more if $700 was waiting to be out back into my checking account and it was pending for 5 days.
Any thoughts, similar experiences?
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Posted Mon Jan 22, 2007 11:39 pm GMT by xDiamond_CutteRx
From what I've heard, Neteller traffic is swamped. It might take as long as 2 weeks for any pending EFT's to process. Just sit tight until then.
I've already been waiting about 4 days myself. I wouldn't worry for another 10 business days or so. But longer than that you should contact support.
Posted Tue Jan 23, 2007 12:03 am GMT by TheSalche
This good to hear ... since mine is taking quite a bit of time too
Posted Tue Jan 23, 2007 9:48 am GMT by shorn7
I spoke with a VIP rep. yesterday who told me two weeks is now the norm due to volume. I am 1 full week in now and will report when mine goes through.
Posted Tue Jan 23, 2007 2:15 pm GMT by UrAteUp
Just think what this is doing to Neteller. No US business for poker sites. That has to lower their cash flow in half.
Posted Tue Jan 23, 2007 3:16 pm GMT by vyni
Far more than half. There are far better commerce solutions than neteller. If we're to guess numbers, I'ld be willing to go as high as 90%. Since many non-us banks do do bussiness directly with the sites, I'ld bet that 75% of that originates in the US.
Just making an educated guess. Since they're publicly traded, I'm sure we'll get the actual numbers sooner or later.
Posted Sun Jan 28, 2007 1:05 pm GMT by Alaskadude
I don't have any money in Neteller but this is just a little more bad news I found today.
http://www.cardsquad.com/2007/01/28/deja-vu-with-neteller/
Posted Sun Jan 28, 2007 3:12 pm GMT by xDiamond_CutteRx
I think Neteller has a little more integrity than Dutch Boyd. I think we just need to be patient and not freak out.
Posted Sun Jan 28, 2007 9:13 pm GMT by khaosanroad
So I will never see the 60 cents I have in neteller? I wonder if it's true that the US DOJ is blocking neteller from giving everyone their money back. Do I smell IRS audits?
Posted Mon Jan 29, 2007 10:51 am GMT by mackkie
Its been 11 days for me. I know people who have been waiting longer than i have, so i am wondering, have you guys received your cashout? I am using the EFT option, i am assuming you guys are as well...keep me posted.
Posted Mon Jan 29, 2007 12:31 pm GMT by Ensano
I wonder if the delay is going to affect Canadian members to. I made a EFT withdrawl on fri, let's hope for the best...
Posted Mon Jan 29, 2007 12:42 pm GMT by aaronw
| Ensano wrote: | | I wonder if the delay is going to affect Canadian members to. I made a EFT withdrawl on fri, let's hope for the best... |
I think it will. I noticed that mine took a bit longer than usual. I can't remember how much longer exactly, but I can check later if you want.
Posted Mon Jan 29, 2007 10:05 pm GMT by cdjos
| mackkie wrote: | | Its been 11 days for me. I know people who have been waiting longer than i have, so i am wondering, have you guys received your cashout? |
Nope, cashed out 1K via EFT on 1/16 totally unaware of what was going on. Still haven't received it. It's still listed as 'pending' which I hope isn't code for 'bend over.'
Posted Tue Jan 30, 2007 4:31 pm GMT by UrAteUp
Don't worry peeps...you haven't lost your money...they are just holding onto it in case they need bail money to get out of a US jail.... 
Posted Tue Jan 30, 2007 4:58 pm GMT by cdjos
And then there's this fun little article: http://www.gambling911.com/NETeller-US-Citizens-012907.html
Posted Tue Jan 30, 2007 8:07 pm GMT by TheSalche
jesus
i really hate the gov't right now
Posted Wed Jan 31, 2007 9:10 am GMT by shorn7
Please post the article. I am having trouble with the link.
Thanks,
Shorn
Posted Wed Jan 31, 2007 1:40 pm GMT by Fat Tony
NETeller Has no Way to Transfer Money to US Citizens
Up to 8 weeks is how long NETeller says it may take money transfers to and from the United States. The third party payment firm claims there are no ways to get this money to players living in the States.
Canadians John Lefebvre, 55, and Stephen Lawrence, 46, were arrested earlier this month as U.S. authorities continued their crackdown on Internet gambling.
Electronic Funds Transfers already in progress cannot be cancelled, according to some NETeller representatives, however, the responses have been mixed. A number of people with EFTs dating back to January 16 have been able to cancel theirs, others have not been so lucky as discovered on the Two Plus Two forums.
Some ATM cards have been used to transfer funds. Others in the US have found the peer-to-peer method to still be working. NETeller remains operational for those living outside the States, which is only a feasible option for anyone with a family member living outside the continental United States who can set up a NETeller account. Gambling911.com would caution anyone from using a peer-to-peer transfer method to individuals they do not know.
There are individuals awaiting upwards of six digit figures to be paid into their bank accounts. Affiliates at this weekend's CAP Euro Conference have also expressed tremendous concern over the NETeller situation. Many of the affiliates have encouraged usage of the payment solutions systems extensively for their customers.
Most US correspondence banks have cut off ties to the third party payment service following these arrests.
Here is the email message being sent out to customers:
"Please know, currently NETELLER is experiencing unprecedented volumes through our withdrawals department. Due to this volume, there may be delays of 4-6 weeks for EFT withdrawals and 6-8 weeks for check withdrawals. NETELLER Cards continue to provide the quickest withdrawal option."
Meanwhile, in what could be interpreted as some good news for the online gambling industry, Reuters has reported that the World Trade Organization has again sided with Antigua and Barbuda in its lengthy trade battle with the United States over Internet gambling. The 'interim report,' pending the submission of final comments by the U.S. before the WTO's official publication on the trade dispute in March, rejected the United States position that it was already in compliance with matters original ruled on in an April, 2005 decision.
The narrowly defined appeal focuses on horse racing over the Internet, not touching on online poker or other matters, and it confirmed the WTO's original finding that foreign betting operations suffer discrimination at the hands of the U.S. Through its spokesperson on the matter, Gretchen Hamel, the U.S. hints that it will still likely interpret the affirmed decision in as narrow a manner as possible. "Nothing in the panel's interim report undermines the broad, favorable results that the United States obtained from the WTO in April 2005," said Hamel. The United States still retains the option to appeal the decision once it is finalized in March, and is widely expected to make that appeal.
However, Hamel's continuing comments on the WTO decision suggest that overbroad measures such as the Unlawful Internet Gambling Enforcement Act may have to be modified in some form. "The panel report clarifies that compliance does not necessarily require new legislation," said Hamel, "but could involve other steps such as administrative or judicial action." The carefully constructed phrase may infer that the U.S. recognizes that some modification of its stance is now necessary.
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Christopher Costigan, Gambling911.com
Originally published January 29, 2007 2:50 am ET
Posted Wed Jan 31, 2007 3:12 pm GMT by vyni
I havent done anymore digging on the subject lately, but some of that article reeks of bs to me...
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