Neteller instacash OVERDRAWN

OK, I got myself into a bit of trouble yesterday.

I had a business check coming sometime before the weekend, so I used Neteller's instacash to make a deposit to WSEX. I deposited $3K (not including my $267 fee) into my account. After a few big games, I lost the money. That wasn't a big deal, as the check I am expecting is for $6K.

Here's the kicker: I just found out the company sending my funds (not gambling related) is in trouble and will not be issuing my check for a couple months (if at all).

How much trouble will I get in with Neteller when this hits my bank and I don't have the cash. I KNOW there have to be some guys here that have sent instacash without the funds (Dell?). I am hoping to find out what happened. I'm obviously on the hook for it, but if I don't have it, I don't have it. Part of me wants to deposit the other $3k available at Neteller for instacash and try to win it back. I know that could be distastrous though.

Will I be in trouble with police for passing a bad check? I know they say that, but it seems a bit unlikely. Can I offer to make payments? How long will they give me?

Will the sportsbook be involved? Can they withhold paying me if I did bet more and win it back? Say I deposit another $3K and turn it into $7K. I still won't have the money in my bank, but I can have $7k in my neteller account, when I only owe them $6K. Will they give me the other $1000 and close my account?

Someone help me here.

I wuould deposit the other 3k and put it all on a small dog in the NBA tonight. GL. Think about it, you're just as fukked anyway so you might as well try to get it back

I would cease any further transactions, get on the phone and call any possible involved parties and explain the situation. You may incur penalty, but I would Cease betting/transferring and get on the phone.

Welcome to The Rx.com

That's way too conservative. Deposit it all rigth now and bet on the Kings moneyline. Quick hurry up the game starts in ten minutes. Thank me later.

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by G wonder Y:
OK, I got myself into a bit of trouble yesterday.

I had a business check coming sometime before the weekend, so I used Neteller's instacash to make a deposit to WSEX. I deposited $3K (not including my $267 fee) into my account. After a few big games, I lost the money. That wasn't a big deal, as the check I am expecting is for $6K.

Here's the kicker: I just found out the company sending my funds (not gambling related) is in trouble and will not be issuing my check for a couple months (if at all).

How much trouble will I get in with Neteller when this hits my bank and I don't have the cash. I KNOW there have to be some guys here that have sent instacash without the funds (Dell?). I am hoping to find out what happened. I'm obviously on the hook for it, but if I don't have it, I don't have it. Part of me wants to deposit the other $3k available at Neteller for instacash and try to win it back. I know that could be distastrous though.

Will I be in trouble with police for passing a bad check? I know they say that, but it seems a bit unlikely. Can I offer to make payments? How long will they give me?

Will the sportsbook be involved? Can they withhold paying me if I did bet more and win it back? Say I deposit another $3K and turn it into $7K. I still won't have the money in my bank, but I can have $7k in my neteller account, when I only owe them $6K. Will they give me the other $1000 and close my account?

Someone help me here.<HR></BLOCKQUOTE>

Stop Gambling or KILL YOURSELF IMMEDIATLY.

Well, you've got one person telling you to make an other Instacash transaction and dump it on the Kings. Then you've got another person telling you to kill yourself. Hmmmmmmm.

I would take General's advice. Call the people you need to call. Explain the situation.

It is illegal to write checks when you don't have the funds in your bank. Knowing (or thinking) that you're gonna get a check in 1-2 days doesn't count as "having the funds in your bank".

By Richard G. Nadler Esq.
Attorney and Counselor at Law

Can I be put in Jail for Writing Bad Checks?

Dear Lawyer,

For the past few months I have knowingly overdrawn my checking account and after 2 weeks my check gets directly deposited into my account and covers all the transactions and overdraft fees - and then I end up having to do this again to make ends meet. My dilemma, I had a friend take care of paying some things while I was ill and she misunderstood my instructions and now my account is about $1,500 overdrawn - my next check will not be enough to cover this and after a certain amount of time they close your account and refer you to a collection agency.

If I can't pay this and allow my account to close - and I then can't pay the amount owed - can they send me to jail for owing the bank so much money?

What are my choices?

Overdrawn

Dear Overdrawn:

You are starting to dig a hole that you may not be able to get out of before the dirt falls all over you. You have the potential for committing several crimes. First, you are counting on your bank to keep on honoring the bad checks you write. Unless you have a sugar daddy or mommy at the bank, that will not happen. Banks are chartered under federal or state laws. Bank examiners look at all the activities in the bank because not only are the banks chartered by the government, but also people in the community who put their paychecks and savings in the banks. Banks lend money to people and businesses in the community, they have employees that get paychecks, etc.

The long and the short of it is that your bank does not have an agreement with you and other customers to give them a loan whenever their checking account is overdrawn, unless the customer has a ready reserve account. Thus, when you are overdrawing your account, the bank thru its officers can decide whether they want to honor the check or bounce it.

If the check is honored and eventually the debt mounts up and is not paid back, the bank can file a complaint with either the state prosecutor for bank fraud, theft by swindle, or, with a federal prosecutor for bank fraud, wire fraud or mail fraud. What you have described is sometimes called check kiting and may involve making a deposit in one bank with a check which is bad, and then depositing a bad check in the bank the 1st check was written on, and so on and so on. Under federal law, each check can be a separate offense with a jail penalty between 3 to 5 years for each check.

Another possibility for the bank is to not honor the check and let it bounce. After so many checks bounce, the bank may close your account. In some states when a bank closes an account for bad checks, the check writer's name is required to be put on a black list and the check writer in not able to get a checking account or 1 or 2 years. (There have been some challenges to this type of state action as violating the Due Process Clause of the United States Constitution in its 5th and 14th amendments.)

If the bank lets your checks bounce, whoever you have written them to (if for a contemporaneous exchange may) have a claim against you for theft by check. Depending on the amount of the check, it could be a felony. You will also be looking at bad check charges between $20 and $50, a penalty from the value of the check to $100, and possibly attorney fees per check.

So, playing a game with your checking account does not solve your financial problem and could cost you a lot of money and eventually land you in jail and you could lose your job, etc.

I suggest instead you seek help either from a debt counseling service or an attorney who represents people who have financial problems. Depending on your income, expenses, total debt and assets, you may be looking at an agreement to paying your creditors over a period of time through a credit counselor, or filing a chapter 13 wage earner plan and having a court ordered and protected protection plan, or a chapter 7 bankruptcy.

Your playing a shell game with checks is not the answer. Professional advice and direction will not only calm your nerves, it will help you get a fresh start and get you back on your feet.

In most states, an element of check/bank fraud is intent. If you believed the money would be there, you have not committed a crime. That one 3k overdraft probably won't subject you to criminal penalties.

Call Neteller, explain, and make payment arrangements IMMEDIATELY. If you don't, you could be civilly liable for conversion (theft by taking). Some states allow treble damages and attorney fees for this. But most businesses would rather have a sure thing, so if you call and make arrangments, you'll likely avoid this nasty unpleasantry.

The WORST thing you could do would be to take another "Instacash advance" knowing you can't cover it. Then, you are seriously commiting check/bank fraud. Buck up to your mistake now, don't try to cover it up.

Where is DELL DUDE when you need him?

I iwll tell you that neteller will try and process the payment 3 times to your bank, so you still have plenty of time.

Having said that, you might as well just deposit the other $3000 and go for the big haul! Right now you have nothing to lose! Some of you may not be aware of this, but this type of overdraw will not lead to prosecution

well i guess that didn't work out too well for you there.....

Just screw Neteller over and dont pay anything....Keep the 3 Grande. They are based in Canada, and obviously they cant get you in trouble for not paying a gambling related incident.......The states would laugh in their face................lol.. .But seriously, I would take General's advice.....

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by playersonly69:

Where is DELL DUDE when you need him?

<HR></BLOCKQUOTE>

player, this guy is in need of some of DD knowlage in this feild

Yep, looks like Mr. "the money should be here in a few days" will probably end up taking turns playing "prison bitch" with Dell Dude.

lol. . .this thread just encourages people.

But seriously guys, bouncing a draft to neteller is NOT a criminal offense!

ACH debits work TOTALLY different than checks!

Maybe I should have told 1/2 the site this, but I told this as a public service announcement!

how does n.tell cover all this? insurance? thats their loss it comes out of their profits, thats why we take that 3.9%, or what?

Well keep in mind instant bank cash transfer is a 8.9% fee

8.9 and not 3.9?! oh ok. yea that 8.9 is probably covering the above as well as being a money maker (no relation to chris) for them.

You might get an NSF fee or two from your bank, but it is Neteller who is going to take the hit on this money. I think General gave the best advice.

One other small piece of advice is to maybe try Firepay. They charge like a $2 flat fee to do the same thing as InstaCash. Granted, lots of books have low limits on Firepay deposits, but $267 just seems like an insane fee to pay.

if you are playing with the last of your money (worse yet money you don't have) then you have a gambling problem IMO. Paying 237 bucks just to gamble sooner with that 8.9 it is impossible to win in the longterm.

That 8.9% is just to get the gambling addicts who can't wait. None of them can be winning at sports paying that 8.9