NETELLER Joins Bettorsworld!

[yanksfan]

2 months with no problems here!
:p

[Cons]

I have been in contact with David Kahane via email about Neteller and I must say he has been one of the most helpful people I have ever dealt with when it comes to sportsbetting-related issues.

I have one question that I think will be of importance to everyone: once the funds show up in my betting account (after depositing through Neteller), are they 100% mine? This might sound like a silly question, but we've had problems lately with people making direct transfers between sportsbooks. Several months later people's funds have been taken from them with sportsbooks claiming that they were never able to get the money from the original book in the first place. To me this is unthinkable; how can you tell people several months later that they money never arrived? Why did those accounts even get credited?

So what I want to know is whether the funds I deposit via Neteller are truly mine once I see them in my betting account. It would be great if Jeff could contact the sportsbooks on our behalf to make sure how everything works. I just want to know when the money I see in my account is truly mine without sportsbooks being able to wiggle out of the situation should any unforseen trouble arise with Neteller, such as a gov't crackdown.

I don't expect anything of the sort, but I think we should all know where we stand should such a situation occur. Knowing this would definitely raise confidence in Neteller as well as the sportsbooks we all play at.

[Curious]

Some info on NETeller from another forum:

"3/20/01 NETeller announces EFT deposits to NETeller for FREE! (Just after they canned PayPal as a deposit method).

New NETeller Policies and Fee Schedules - March 20, 2001

Electronic Funds Transfer (EFT): You can now link your NETeller account to your own checking or savings account in the USA! You can transfer TO your NETeller account from your bank account in two business days and FROM your NETeller account to your bank account in ONE business day. Best of all, this service is FREE and you even get 10,000 NETpoints just for signing up."

Bang--on 3/31/01 (just 11 days later) the policy changes to to a 2.4% fee----

"Fee Schedule Adjustment - March 31, 2001

NETeller will begin charging 2.4% to a maximum of $10 for all methods of deposit. This fee will be rounded to the nearest dollar."

NETeller sucks you in then doesn't even have the class to wait a few months to change policy. Just a matter of time before that $10 max increases. I much prefer PayPal and am letting all the books I deal with know that fact. (No, I'm NOT a damn shill for PayPal--I am just disgusted with NETeller). No wonder so many books are backing off from NETeller and promoting other deposit methods such as FirePay."


"i hope you will listen to your customers and think about raising your limit from 2,500. when companies ignoring the needs of their customers they usually don't seem to last."


"Neteller reducing their transfer limits to $2500 had nothing to do with confidence, and everything to do with increasing their fee income. They tried to b.s. everyone and pass it off as a security measure, but could never explain why it was more secure to send $2500 twice than $5000 once. Their m.o. is to get a foot in the door, then jack up the fees.

Neteller appears to be clueless, or they just don't care, about giving the customer what they want. We all know what happens to companies like that. Be careful with these guys, because when the competition arrives they will go down quickly in a flaming fireball."

[randyrohm]

David, Thanks for addressing our questions. You are privy to a boatload of info on many players. How can you assure that you don't sell your list or worse? The net is full of digrunteled exemployees who make $ of stolen info. Just a thought.

[David Kahane]

Randyrohm

Thank you for your question

The way we manage the security of our client records is as follows:
Our servers are kept under lock and key in a high security server farm.
Access to the database is limited to only high level tech staff who are, in addition, kept on a “need to know” basis with respect to database access.
We consider our client base to be our most valuable asset and guard it extremely cautiously. We do not release client information to any third parties under any circumstances whatsoever.

[sportshobby]

Curious, I was also apprehensive about the fee and limit changes initially. But since then I'm convinced that they were brought about by the need to conform to laws/rules on cash transfers. Also, you can withdraw from NETeller to your checking account via EFT completely free of any charges.

[Curious]

sportshobby:

I'm not sure how or why you are convinced that these transfer limits were brought about by the need to conform to laws/rules on cash transfers, because NETeller never gave that as a reason, and I don't know what laws/rules on cash transfers they would be conforming to.

This was a move to increase their fee income -- plain and simple.