Update on Neteller withdrawal

[yoffff]

As I told you on Jan. 16 that we would see how long it would be to get a check sent threw the mail from Neteller. It has been 10 days and so far no check. They sent me an e-mail to confirm my withdrawl and there is no money in my account but still no check. Maybe it hasn't been enough time yet will update again at a later date.

[verdict]

thought I read 2-4 weeks for eft and 6-8 weeks for check

[yoffff]

Originally Posted by verdict

thought I read 2-4 weeks for eft and 6-8 weeks for check

Last time I requested a check from them it came in 7 calender days.

[Dr. Jack]

Yoffff - Was that before the situation with neteller?

I know that is what Neteller is sending out to the customers since 1/16.
They are saying 2 weeks for EFT and 6 or more for cheques. You can email them at support@neteller.com for clarification

[yoffff]

Originally Posted by Dr. Jack

Yoffff - Was that before the situation with neteller?

I know that is what Neteller is sending out to the customers since 1/16.
They are saying 2 weeks for EFT and 6 or more for cheques. You can email them at support@neteller.com for clarification

Yes it was before all this trouble. But what's the difference?

[upinya83]

Originally Posted by yoffff

Yes it was before all this trouble. But what's the difference?

lol there is no difference, business as usual for them

[CecilBrown]

I requested a check from VIP services and was advised that is NOT an option, that was 3 days ago, they stated EFT or Debit card only. I thought I was safe having requested my EFT withdrawl directly from the Supervisor of VIP services before the "fit hit the shan" but no such luck. I have talked with personnel at several sportsbooks and according to them they are "in the same boat", Neteller has their funds as well! Having spent the last 3 days researching this debacle I think I now have a clearer understanding of what is going on. Avoiding speculative talk I have based the following from facts that I have gleaned from the public records. Neteller had been using a "processor" in the U.S. to move funds back n' forth between banks here in the U.S. and Neteller's Banks in Canada. Apparently, as a result of the indictments, the clearing house decided to sacrafice this lucrative endeavor (they were paid a premium or commission on each and every transaction). Now, having lost the services of the largest clearing house in the U.S. they are more than likely at an impass trying to figure out an alternative. The first major obstacle being the fact that there simple is not alot of processors that can handle the kind of volume that Neteller requires. The behemoth company that they had utilized pretty much had a monopoly here in the U.S. providing services to over 18,000 banks nationwide! I am assuming now that it would take the services of at least a dozen processors to perform the function previously accomplished by the powerhouse (Clearing House). That being said, I just cannot imagine how this might be accomplished. It is far more likely that the "2 weeks" projection is only meant to buy time while they scramble to find a secure method to transfer funds, although I have no clue what that might be. As for the future of Neteller, I can only assume that they have sealed their own fate in their mishandling of this matter. I have read in various accounts that anywhere between 65 and 85% of their business originated in the U.S. and given the fact that they have demonstrated a proclivity to distort the truth I cannot forsee their survival as a prosperous and viable entity. That being said, I hope everyone gets their money, that is, before the Feds have a chance to freeze assets and the company's lawyers to file bankruptcy. I made haste to get my money from the 'Books because I thought my money would be safe with Neteller, only time will tell if that was a huge blunder... They say that there is humor in irony and that would be the case if I end up beating the books(assumed crooks) but getting beat by the banks(REAL crooks)!

[yoffff]

Originally Posted by CecilBrown

I requested a check from VIP services and was advised that is NOT an option, that was 3 days ago, they stated EFT or Debit card only. I thought I was safe having requested my EFT withdrawl directly from the Supervisor of VIP services before the "fit hit the shan" but no such luck. I have talked with personnel at several sportsbooks and according to them they are "in the same boat", Neteller has their funds as well! Having spent the last 3 days researching this debacle I think I now have a clearer understanding of what is going on. Avoiding speculative talk I have based the following from facts that I have gleaned from the public records. Neteller had been using a "processor" in the U.S. to move funds back n' forth between banks here in the U.S. and Neteller's Banks in Canada. Apparently, as a result of the indictments, the clearing house decided to sacrafice this lucrative endeavor (they were paid a premium or commission on each and every transaction). Now, having lost the services of the largest clearing house in the U.S. they are more than likely at an impass trying to figure out an alternative. The first major obstacle being the fact that there simple is not alot of processors that can handle the kind of volume that Neteller requires. The behemoth company that they had utilized pretty much had a monopoly here in the U.S. providing services to over 18,000 banks nationwide! I am assuming now that it would take the services of at least a dozen processors to perform the function previously accomplished by the powerhouse (Clearing House). That being said, I just cannot imagine how this might be accomplished. It is far more likely that the "2 weeks" projection is only meant to buy time while they scramble to find a secure method to transfer funds, although I have no clue what that might be. As for the future of Neteller, I can only assume that they have sealed their own fate in their mishandling of this matter. I have read in various accounts that anywhere between 65 and 85% of their business originated in the U.S. and given the fact that they have demonstrated a proclivity to distort the truth I cannot forsee their survival as a prosperous and viable entity. That being said, I hope everyone gets their money, that is, before the Feds have a chance to freeze assets and the company's lawyers to file bankruptcy. I made haste to get my money from the 'Books because I thought my money would be safe with Neteller, only time will tell if that was a huge blunder... They say that there is humor in irony and that would be the case if I end up beating the books(assumed crooks) but getting beat by the banks(REAL crooks)!

Oh Boy this sounds bad.