NeTeller users please reply...

[puckmoney]

Hello everyone,

I opened an account with a new offshore book today and used Neteller for the first time.

I opened a new neteller account and deposited 750 into it. I took 500 of it and deposited it into my new book.

I swear I saw NOTHING that stated a fee from neteller for deposited funds from my checking account into my neteller account.

Needless to say, I was charged 8.9 percent on my initial 750 deposit from my checking account....nothing to break the bank but still a relatively decent chunk of change (about 70 bucks).

Now I learn if I receive my (hopefully) winnings from the book back through neteller, they will also charge me 1.9 percent off any monies redeposited into my neteller account from my offshore book.

So basically I'm getting hosed out of almost 11 percent of my funds. I didn't use western union this morning because I wanted to do it from the convienience of my own home, but if I knew it was going to ultimately run me 11 percent, I definitely would've woken up earlier and did it western union style.

Just to break even, I'm going to have to post an 11 percent profit on my original stake.....that's not cool.

Basically, I would like to hear from any Neteller users and what, if any benefits there truly are to this setup. I can't see any. I have a 30-day minimum with the new book before I can make a withdrawal, and when that window is up I plan on withdrawing all neteller funds back into my neteller account....withdrawing that money back into my checking account and then closing my neteller account.

Is there ANY reason not to?

All replys appreciated....

PM

[CAPPERANGEL]

I beleive the books refund you the money depends on the book they will usually refund you a percentage back. they should cover all the fees. if not get a new book.

[Carl Carlson]

neteller is solid bro. you probably used 'instacash' for your deposit which is charged 8.9%. if you use regular deposits that take a little longer to transfer, it's free. depending on your book, you should have something in the range of one free neteller withdrawal a month. neteller is my personal preference in making online transactions. if you got any other problems, post'em and i'll see if i can answer them.

[SkinsFan]

Carl Carlson is correct.... if you need to transfer money from your bank to neteller instantly, you have to use instacash and pay the fee... if you can wait 2-3 days for the transfer to take place, it is free.

[cman]

most books will reimburse your fees if you deposit over $200 I know MVP does

wde

[Klazerman]

All the major books should reimburse your deposit costs, ie Neteller, Western Union etc.
Klaze

[puckmoney]

Thanks for the responses fellas I think I got it now.

Carl, I still don't understand what is the benefit to this service as opposed to western union?

PM

[Carl Carlson]

here's what i like about it most:
lets you bet wherever you want when you see a good line. with western union, you would have to make a deposit to a specific sportsbook ahead of time. with neteller, you could keep some coin in neteller and deposit into a sportsbook literally seconds before you want to place a wager. personally, i'd rather not have to go out of my way to make a western union deposit too. that's just a personal preference though. good luck.

[jaypasco]

Originally Posted by Carl Carlson

here's what i like about it most:
lets you bet wherever you want when you see a good line. with western union, you would have to make a deposit to a specific sportsbook ahead of time. with neteller, you could keep some coin in neteller and deposit into a sportsbook literally seconds before you want to place a wager. personally, i'd rather not have to go out of my way to make a western union deposit too. that's just a personal preference though. good luck.

bingo

[jaypasco]

this also makes me alot more comfortable with large sums in neteller....




NeTeller buys card processor

Mon, 31st Oct 2005, 08:08

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Online payment specialist NeTeller has boosted its presence in the UK with the acquisition of credit card processor Netinvest and its subsidiary Netbanx for £12.36m

Founded in 1996, Netbanx has relationships with all of the major UK acquiring banks, as well as MasterCard, Visa, American Express, Diners Club, Pago and Euroconex.

It currently processes approximately £10m of credit card payments each month and reported a profit of £1.13m for the 18 months to June.

"Netbanx will provide NeTeller with the ability to process its own credit card transactions, retaining a greater proportion of margin in-house," chief executive Gord Herman said.