Neteller Checks Bouncing...

[CecilBrown]

Interested to know if there are any Canadians here at the Mall who withdrew funds from Neteller and subsequently had their checks returned NSF...

If so, have you contacted NT and what was their response?

Thanks!

[dave nz]

Why do u ask Cecil, do u know someone this has happened to ?

[CecilBrown]

Originally Posted by dave nz

Why do u ask Cecil, do u know someone this has happened to ?

Yes Dave, I have been following numerous reports on another forum. Canadian Neteller users have been reporting checks from Neteller being returned NSF. The amounts varying from several hundred dollars to 5 figures. EFT's seem to be working well for them so it may just be an issue with the processing bank and hopefully not a sign that funds are "drying up"...

[dave nz]

Ok thanks for the info bro.

Keep us updated If u hear more.

[Dr. Jack]

Cecil, Thanks for the update. Let us know if you hear more.

[YankeesWC2006]

Originally Posted by CecilBrown

Yes Dave, I have been following numerous reports on another forum. Canadian Neteller users have been reporting checks from Neteller being returned NSF. The amounts varying from several hundred dollars to 5 figures. EFT's seem to be working well for them so it may just be an issue with the processing bank and hopefully not a sign that funds are "drying up"...

i dont know about NSF... to be honest with u i doubt it... neteller checks are cashier checks... not business checks or personal checks.. they are issued after the payout is requested and since their bank issues the check (paper check) i doubt it could end up being returned for non sufficient funds

[CecilBrown]

Here is an interesting post from another forum...

Old children's riddle: Sixteen blackbirds are sitting on a fence. The farmer shoots one. How many blackbirds are left on the fence? Answer at the end.

It doesn't take a financial genius to see that Neteller is facing a life-threatening business crisis. Assets seized, stock not trading for weeks, customer service in ruins, permanent loss of most of their business base, unable to transact with many important financial institutions, and likely criminal prosecutions and civil actions by the U.S. government.

There is an excellent chance that at some point Neteller management will buy their way out of trouble by settling the charges for some unbelievable amount of money. Then we'll see just how untouchable customer funds truly are.

Neteller is a heavy favorite to be destroyed. Will there be enough money after seizures, operating losses, and fines/settlements to payoff all creditors and account holders in full?

Right now non-U.S. account holders are ahead of U.S. account holders because we're frozen and you aren't. That situation is unlikely to last. The U.S. government is not likely to structure a settlement that only takes money from U.S. accounts. Politics and the national interest both dictate otherwise. Nor is a bankruptcy court likely to go along with imposing all the losses on U.S. customers while everyone else is paid in full. Screwing Americans might meet with some of your notions of justice but it's really hard to rationalize in a court of law. Much more likely the losses get divided more evenly. Plus you may discover that accounts aren't legally segregated at all. Other unpaid creditors are likely to ask for a share of your money and they might get it.

Bottom line: non-U.S. Neteller customers should get your money out now. Any other approach is extremely foolish.

Answer to riddle: Zero because the rest flew away. So why are gamblers dumber than blackbirds?

[BookieTom]

I have never heard of the checks bouncing, but a friend of mine, who deals with neteller, said that neteller took out money from his account, without his approval, when he called neteller, they try to put the blame on (intertops) telling him it must of been them taking the money out, he knew something was fishy so he called intertops, and they said that this is impossible, cause they dont have access to his acount, but neteller try to play dumb and said it was intertops, so something defenitly fishy going on. Thoughts?

[desimunda]

i just took out a grand using netteller card..so they are still alive in canada....hopefully stays like this.

[CecilBrown]

Originally Posted by desimunda

i just took out a grand using netteller card..so they are still alive in canada....hopefully stays like this.

I am very pleased that you are able to access your funds, that's good news for ALL of us! The problem(s) I heard of were only with Neteller checks (in both U.S. and Canadian dollars), EFT's and ATM seem to be ops normal.

Thank you for your info.!