Neteller News!

[J S]

This is at the very least a positive step in the right direction. I'm not counting on the $$ to pay the bills, but it is nice to see some positive information.

[adioking]

Originally Posted by PPP

You seem to not get that they have no way to send the money.

Please explain so people here can understand the meaning of what you are saying. Is Neteller now considered a "gambling company" and therefore transactions will be blocked or what is your basis for this statement?

[SmackDog]

Well, I'm assuming they are being considered a gambling company if they cannot just send our money back via normal processing. US banks must not be able to do business with them.

[NewPokerGirl]

If we can recieve bank wires and checks from online poker sites I don't see what the problem will be with neteller sending the money considering they have the governments approval to do so.

[ucladave]

Originally Posted by PPP

You seem to not get that they have no way to send the money.

This is BS unless you have some secret inside knowledge that we dont. They DO have payment processors that are handling all their transactions outside the USA. They just signed an agreement saying it is ok to pay back the money to USA customers. What then, is the holdup on the current unseized funds which are in trust?

As far as I can tell, there are two very different situations here. $55 million that was actually seized by the DOJ in transit, and the hundreds of millions that are stuck "in trust" with neteller. I believe that if the DOJ signed an agreement to get the money back to USA customers, then there is no reason to think that they would intercept payments coming from the "trust" accounts. Why can that money not be sent now rather than waiting 75 days? Personally I think because they do not plan on re-entering the USA market and want 75 days more of interest on our money. This is total speculation on my part of course, but they've been lying to us and have not been forthcoming about many issues so it would not shock me.

[PPP]

Originally Posted by ucladave

Why can that money not be sent now rather than waiting 75 days?

They have no way to send the money.

Their debit card company won't work with them.

They can't do wire wire transfers.

No bank will agree to send paper checks.

It's like some of you guys have not been paying attention. What do you expect them to do, fly to everybody's house with a suitcase full of money? They have no way to do transactions with US customers, and aren't letting them launder the money by sending it to non-US citizens which is something they are currently in legal jeopardy over.

And its going to be longer than 75 days. In that time they only anticipate that a plan will be in place. It's up to the government to approve and allow everything.

[corpfan1]

It is not up to the US government what an offshore company does.

Once the 2 former owners are cleared of everything, US won't have any jusrisdiction over what they do.

This will be all settled well before the 75 days...as everyone just wants to move on.

[PPP]

Originally Posted by corpfan1

It is not up to the US government what an offshore company does.

Once the 2 former owners are cleared of everything, US won't have any jusrisdiction over what they do.

Tell that to Party Poker and the rest, and to the people whose 55 million was seized by the US government when Neteller last tried to pay them.

[SmackDog]

It is up to the US government in this case wether or not Neteller can do business in the US with US customers.

The US government must give Neteller the ok to do business with US banks.

While everyone does want to move on, it will not be within 75 days. Don't get your hopes up until the money is in your account.

Smackdog