NETELLER UPDATE

[Bettorsworld]

US member update

Effective Immediately

Due to recent US legislative changes and events, effective immediately, US members are no longer able to transfer funds to or from any online gambling sites.

All US members will continue to be able to use their NETELLER e-wallet account to safely transfer funds to and from non-gambling merchants and are not required to close their account or withdraw their funds.

Please note that we are experiencing higher than normal support volumes and recommend that you read the FAQs for more information.


NETELLER Member FAQs


Why is NETELLER no longer allowing US members to make fund transfers with online gambling sites?How do I know if I am a US member?
Why can’t I access my instaCASH funds in my NETELLER account?
Will I be able to use instaCASH again?
Can I still use my NETELLER account?
Does this change affect withdrawals with NETELLER?
What’s the quickest and most convenient way to withdraw funds from my NETELLER account?
Is my money safe in my NETELLER account?
Am I required to withdraw my money from NETELLER?
Does this change affect non-US members?
How can US members find out about changes to their NETELLER services?
I am a US resident. Can I still become a NETELLER member?
Why were the founders of your company arrested?
Why was NETELLER stock suspended from trading?
Who can I contact for assistance?



Why is NETELLER no longer allowing US members to make fund transfers with online gambling sites?

The US government has recently introduced new legislation in the form of the Unlawful Internet Gambling Enforcement Act. To best protect the interests of NETELLER members, employees, shareholders and business partners, NETELLER will no longer provide service to US members to transfer funds to and from online gambling merchants. Read the press release.



How do I know if I am a US member?

If your registered address with NETELLER is a US address, you are considered a US member and all of the changes indicated here and in your notification email apply to you.





Why can’t I access my instaCASH funds in my NETELLER account?

NETELLER has made a policy and technical change that has disabled instaCASH for US members.



Will I be able to use instaCASH again? No decisions have been made regarding the future availability of this product.



Can I still use my NETELLER account?

Yes. All US members and non-US members will continue to be able to use their NETELLER e-wallet account for safe online transfers to and from non-gambling merchants, secure peer-to-peer transfers and NETELLER Card withdrawals at ATMs around the world.





Does this change affect withdrawals with NETELLER?

US members who currently have funds in their e-wallet account may keep their funds safe in their account or are free to make withdrawals at any time they choose. US members are not required to withdraw their funds from their NETELLER account.

At this time, you may use a NETELLER Card to withdraw funds from your NETELLER e-wallet account.



What’s the quickest and most convenient way to withdraw funds from my NETELLER account? The NETELLER Card is the quickest and most convenient withdrawal option. When you transfer funds from your NETELLER e-wallet account to your NETELLER Card, you can withdraw those funds from any ATM cash machine on the Cirrus/Maestro network and Pulse Star network, depending on your country of residence. You will have to pay a nominal fee for NETELLER Card withdrawals, but your funds will be available from 15 minutes to an hour after they are transferred to your card. Learn more.



Is my money safe in my NETELLER account?



Yes, your money is safe with NETELLER. All members can hold their funds safely in their NETELLER accounts until such time as they decide to move the funds. The changes in gambling merchant transfers do not affect the ability of US member to maintain funds in their NETELER e-wallet accounts.

NETELLER protects all members’ funds (all deposited, in-transit and un-cleared funds) by holding the value in independent trust accounts. As the largest independent online money transfer business in the world, we maintain our head office in Europe and are a publicly quoted company on the AIM market of the London Stock Exchange. NETELLER UK Ltd is authorised and regulated by the Financial Services Authority.



Am I required to withdraw my money from NETELLER?

No, there is no requirement for US members to withdraw their funds from their e-wallet accounts. US members will still be able to use their NETELLER e-wallet accounts for safe online transactions to non-gambling merchants, secure peer-to-peer transfers and instant payouts with the NETELLER Card.



Does this change affect non-US members? No, NETELLER customers with registered addresses outside of the US will not be affected by these changes. The company will continue to operate its non-US business as normal, maintaining all existing products, services, customer and merchant support across all the other countries it currently serves.





How can US members find out about changes to their NETELLER services?

NETELLER will continue to notify you of any pertinent changes to your service. All members will continue to have access to this FAQ site for answers to the most commonly asked questions, but members can also register to receive all NETELLER press releases, by signing up for our e-news alert service.



I am a US resident. Can I still become a NETELLER member?

No. We have temporarily suspended the ability for US residents to create a NETELLER e-wallet account.



Why were the founders of your company arrested?

Although we can confirm that Steve Lawrence and John Lefebvre were detained separately while in the United States, we do not know the details surrounding the detention and cannot provide more clarification. We can confirm that both individuals are no longer employees or board members of NETELLER and have not been involved in the day-to-day running of the company for a number of years.



Why was NETELLER stock suspended from trading?

As a precautionary measure, we asked the London AIM Stock Market to temporarily suspend trading in our shares, effective January 16, 2007. We requested this action to help protect all shareholders from any negative impact the recent detentions might have until more facts are known. Once we understand the situation in greater detail, we will ask the AIM to allow our shares to trade again.



Who can I contact for assistance? If your question has not been answered by this FAQ, or if you require further assistance, please contact NETELLER Customer Service at [email protected] or by calling 1-888-258-5859, 24 hours a day, 7 days a week. Please note that at we are experiencing higher than normal support volumes.




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[bigdogdan2]

I still have money in places like SBG Global, Skybook, and betCris and have alway used Neteller to transfer money in and out.

Whats the best way to deposit or withdraw now on those sites?

Thanks,
Dan

[jpehl]

The fat ladies singing guys....

[brink]

Cashiers check boss.

[TheBlackCat]

pursuit of happiness is one of the unalienable rights in the constitution...

Thank-you Republicans for protecting our constitutional rights again!

On Neteller, the two founders were arrested recently in the US. That is why they immediately suspended US trading. They are also a LSE stock, similar to the BetOnSports situation.

Geez, nothing like hitting a losing streak right in the middle of anti-deposit enforcement.

[Carpet]

Does this effect BoDog ???

Currently I wire funds direct from my bank
and they wire funds back to me, they are
always making direct deposits into my account

Does that mean I am screwed, I never remember
using net teller??

Any advice would be appreciated...

Carpet

[brink]

Carpet. Here's the deal on bodog.

Today, their ACH processor pulled out. Many books use ACH processors to cut checks and pay their customers. These processors are located in the US. Bodog won't be the only place affected.

So right now, the only ways to take a payout from bodog is via western union or clickpay.

This will be a temporary problem for the industry in general.

Some books cut their own checks from offshore banks. For those books, it won' be a problem.

Bodog wil probably have an alternative solution within a week. But it sucks for now.

[brink]

Bottom line guys, is that it's going to take longer to make deposits and withdrawals. We have all been spoiled with neteller and everything being instant. Not long ago checks and western union was all we had.

The books that have been around, CRIS, OLYMPIC, Bet Jamaica will all stay strong.

You'll always have places to bet.

But it will be very difficult for those that have 20+ accounts and need to keep moving the money from one book to another constantly.

[Carpet]

brink....thanks for the intelligence, well appreciated
at the floor on the Carpet............

Well I guess need to wait and see how this plays
out, got plenty to play with over there

Just sounds like a Castro take over and all assets are lost

Funny thing is.........Bo Dog will allow me to wager
a thousand bucks tonight, should I choose and then
cant pay me should the carpet cover? dont make sense

Carpet

[bigdogdan2]

Which is the next easiest way for sbgglobal.com? I have always used neteller and never any of these other options:
WU, Internet Debit Card, Electronic Check, Bank Draft, Bank Wire.

Thanks,
Dan

[TheBlackCat]

I just lost a day of my life to the neocons. What I've concluded is similar to others here -- the days of quick and instant money transfers are nearly gone. You can pretty much forget moving money by way of the internet. After strongly futilely trying to move cash via the internet, I finally left the house to get the job done.

The irony I see is that I was always quite satisfied playing for casual stakes. But I see my bets getting bigger now that the war on the casual player has begun in earnest. I can see the overseas books getting more action than ever as a result of this and making more money now that people aren't swapping funds out via neteller daily anymore.

At one point I considered tripping down to vegas, but that's what they WANT you to do! Out of sheer principal, I just couldn't do it. Vegas is ironically the masterminds of this internet gambling ban. I think they should be careful about what they wish for...

[TheBlackCat]

brink....thanks for the intelligence, well appreciated
at the floor on the Carpet............

Well I guess need to wait and see how this plays
out, got plenty to play with over there

Just sounds like a Castro take over and all assets are lost

Funny thing is.........Bo Dog will allow me to wager
a thousand bucks tonight, should I choose and then
cant pay me should the carpet cover? dont make sense

Carpet

I don't think you have anything to worry about here, Carpet. They'll pay. Its a practical impossibility for them to ban checks. The infrastructure to monitor that would dwarf the mind - although with our current government I wouldn't put it past them to try one day. What's another 500 billion wasted, right?

But seriously, you'll get paid. It just might take longer than it used to. I don't think all of the books are going to up & dump overnight ala Pin.

"Free trade" my ass....this is protectionism at its finest people. I just love how the "morals" change based on who's getting the money. They outsource my job to India and then don't allow me to invest overseas. WTF?