I had a friend who is a very casual player and is a verified Neteller member. He used his bank to deposit funds into Neteller and left them in there for a couple of weeks until needed. He then received one of those your account is closed call us messages. After calling they said he deposited money from his account and didn't send it to a merchant, which raised a red flag. And if such suspicious activity continued they would close his account. I was stunned when I heard. I have used Neteller extensively (8 million points) for 2 plus years and I have left money in there from one book to another without a problem. Why would Neteller be upset over holding a causal users money? Can somebody make any sense of this?
Bank-linked systems like Neteller and PayPal are increasingly paranoid about the make-believe crime of money laundering. Part of the "handbook" for dealing with money laundering deals with the potential for criminals to use systems such as Neteller to hide funds, since the current procedure for getting bank account records is not the same one used for getting records from neteller, PayPal and other bank-linked payment services.
Incidents like this are only going to increase over time, and should not be considered one-in-a-million freak occurences.
Phaedrus
Incidents like this are only going to increase over time, and should not be considered one-in-a-million freak occurences.
Phaedrus
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by BillDozer:
money laundering...
The US is putting Neteller in a vice right now. it really is a shame.<HR></BLOCKQUOTE>
Bill-
What do you mean here? Is the U.S. putting Neteller specifically in a "vice" or are you referring to Neteller "like" services in general?
money laundering...
The US is putting Neteller in a vice right now. it really is a shame.<HR></BLOCKQUOTE>
Bill-
What do you mean here? Is the U.S. putting Neteller specifically in a "vice" or are you referring to Neteller "like" services in general?
Everyone.
Can the people that think they know what is going on, refrain from guessing. If you do guess, maybe put "I am only guessing, but..."
"money laundering...
The US is putting Neteller in a vice right now. it really is a shame"
Can someone email me the details on the above client that was closed. I put requirements in place and there is NOT one for money being left in the account for ANY period of time. I would like to see who sent the email to the client and I will find out why.
For future concerns, please keep my email in mind. I will not be posting anymore on the Forums.
Colin Francis
Chief of Security and Compliance
Neteller Inc.
Colin@NETeller.com
ph : 1 888 258 5859
fax: 1 877 230 3993
Can the people that think they know what is going on, refrain from guessing. If you do guess, maybe put "I am only guessing, but..."
"money laundering...
The US is putting Neteller in a vice right now. it really is a shame"
Can someone email me the details on the above client that was closed. I put requirements in place and there is NOT one for money being left in the account for ANY period of time. I would like to see who sent the email to the client and I will find out why.
For future concerns, please keep my email in mind. I will not be posting anymore on the Forums.
Colin Francis
Chief of Security and Compliance
Neteller Inc.
Colin@NETeller.com
ph : 1 888 258 5859
fax: 1 877 230 3993
Are all you people out of your minds?
Why in the world would Neteller EVER want to be invovled in "money laundering"???
And how would the U.S. Government have Neteller in a "VICE"??
Neteller is home based in Canada!!!
HEY BILLDOZER...
"money laundering...
The US is putting Neteller in a vice right now. it really is a shame."
What hat did you pull this nonsense out of!?
I've been dealing with Neteller on a "personal" basis for amost two years. Neteller is an honest, trustworty and reliable entitity.
PERIOD!!!
Why in the world would Neteller EVER want to be invovled in "money laundering"???
And how would the U.S. Government have Neteller in a "VICE"??
Neteller is home based in Canada!!!
HEY BILLDOZER...
"money laundering...
The US is putting Neteller in a vice right now. it really is a shame."
What hat did you pull this nonsense out of!?
I've been dealing with Neteller on a "personal" basis for amost two years. Neteller is an honest, trustworty and reliable entitity.
PERIOD!!!
Best thing is not to leave yout money in neteller for to long...put it in a book or your bank, Afterall neteller is just a go between. why would you want to have a large balance in a go between place for a long time?
Does not make sense to me...max I keep any money in neteller is 1 week....send it to a solid book or do an EFT to your bank
Does not make sense to me...max I keep any money in neteller is 1 week....send it to a solid book or do an EFT to your bank
Let's say I make a $2200 suicide instacash EFT deposit and bet it all on the Chiefs (-14) at Olympic.
I win.
Now I want to put the $2396 back into my checking account which includes the 8.9% fee.
Instead of just requesting a $2396 NETeller withdrawal from Olympic, I am going to have to take out the whole thing and even if it is a free transfer, I'm still only going to be allowed an $1804 EFT deposit to my bank ($4200-$2396).
But then I will be able to transfer my remaining balance back to Olympic or another book, and to be able to take out the remaining $592 I need I'm still going to have to withdraw at least $2988.
That is stupid. What phucking difference does it make if I send the money to a book or back to myself? If the EFT bounces, the money is gone anyway.
At Pre-Paid, they have no silly restrictions on instant ACH tranfers. You can do whatever you want with it. They also incidentally do not require books to require customers to transfer money back the amount of a PPATM deposit before doing another method as NETeller does.
These things make it very hard for me. It's part of the reason I am *temporarily* suspended from insta cash EFT privileges. Not only the two EFT's would NOT have bounced, I wouldn't even have had a single overdraft charge.
I win.
But then I will be able to transfer my remaining balance back to Olympic or another book, and to be able to take out the remaining $592 I need I'm still going to have to withdraw at least $2988.
That is stupid. What phucking difference does it make if I send the money to a book or back to myself? If the EFT bounces, the money is gone anyway.
At Pre-Paid, they have no silly restrictions on instant ACH tranfers. You can do whatever you want with it. They also incidentally do not require books to require customers to transfer money back the amount of a PPATM deposit before doing another method as NETeller does.
These things make it very hard for me. It's part of the reason I am *temporarily* suspended from insta cash EFT privileges. Not only the two EFT's would NOT have bounced, I wouldn't even have had a single overdraft charge.
And also the the $2 fee to transfer money to your NT debit card, the rounding off to the nearest dollar on all transactions, and the dormant card fee. All of these things are bushleague.
ATM Cash Advance $1.50
Point of Sale (POS) $0.75
Take a look at the above. Those are the debit card fees. But guess what? It's really $2 and $1 because they round it off. That is false advertising. How else can you look at it?
I like NETeller. They are probably the number one offshore money mover overall. But they got serious problems. They need to improve on these. It's too expensive and too beaurocratic.
Long way to go to ever reach PayPal...
ATM Cash Advance $1.50
Point of Sale (POS) $0.75
Take a look at the above. Those are the debit card fees. But guess what? It's really $2 and $1 because they round it off. That is false advertising. How else can you look at it?
I like NETeller. They are probably the number one offshore money mover overall. But they got serious problems. They need to improve on these. It's too expensive and too beaurocratic.
Long way to go to ever reach PayPal...
Colin (from Neteller) wrote above that he did not tell anyone at Neteller that there was ANY time limit on funds.
I don't have a large balance, few hundred only but have never been told to move it or have my account closed.
They may be getting a little too beaucratic. But a few weeks ago when I asked for a rep. by name, whose name was on the email from Neteller sent to me, the girl said she did not even know who I was talking about. (Neal --I forget the last name; but both were supposedly in Security and at the same phone number --yet she didn't know him)
I don't have a large balance, few hundred only but have never been told to move it or have my account closed.
They may be getting a little too beaucratic. But a few weeks ago when I asked for a rep. by name, whose name was on the email from Neteller sent to me, the girl said she did not even know who I was talking about. (Neal --I forget the last name; but both were supposedly in Security and at the same phone number --yet she didn't know him)
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Dell Dude:
And also the the $2 fee to transfer money to your NT debit card, the rounding off to the nearest dollar on all transactions, and the dormant card fee. All of these things are bushleague.
_ATM Cash Advance $1.50
Point of Sale (POS) $0.75_
<HR></BLOCKQUOTE>
Dell, Neteller charges $2 to transfer money to the card, then FSV charges $1.50 at the atm. They are not rounding. Those are two separate fees.
And also the the $2 fee to transfer money to your NT debit card, the rounding off to the nearest dollar on all transactions, and the dormant card fee. All of these things are bushleague.
_ATM Cash Advance $1.50
Point of Sale (POS) $0.75_
<HR></BLOCKQUOTE>
Dell, Neteller charges $2 to transfer money to the card, then FSV charges $1.50 at the atm. They are not rounding. Those are two separate fees.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by fathead:
Dell, Neteller charges $2 to transfer money to the card, then FSV charges $1.50 at the atm. They are not rounding. Those are two separate fees.<HR></BLOCKQUOTE>
Yesterday I transferred $174 to my debit card which had a zero starting balance. They charged me $2 so $172 became my debit card balance. I took out $170 via a no-fees ATM machine. My current debit card balance is zero.
That speaks for itself. That was a $2 ATM fee, not $1.50. That is also ridiculous. It cost me $4 total just to take $170 out. And that's not even counting the $20 fee Carib passed on to me for transferring $200 there. It actually cost me $24 alltogether. That's 12%! That's BULLSHIT! With PPATM, I only would have paid $1.50 from start to finish...
Dell, Neteller charges $2 to transfer money to the card, then FSV charges $1.50 at the atm. They are not rounding. Those are two separate fees.<HR></BLOCKQUOTE>
Yesterday I transferred $174 to my debit card which had a zero starting balance. They charged me $2 so $172 became my debit card balance. I took out $170 via a no-fees ATM machine. My current debit card balance is zero.
That speaks for itself. That was a $2 ATM fee, not $1.50. That is also ridiculous. It cost me $4 total just to take $170 out. And that's not even counting the $20 fee Carib passed on to me for transferring $200 there. It actually cost me $24 alltogether. That's 12%! That's BULLSHIT! With PPATM, I only would have paid $1.50 from start to finish...
He said the only reason he moved money to Neteller and left it there because he felt it would be safer there then in the book which was already funded. In case he ran out of funds in the book he could then instantly move more money in without the 1 week wait normaly required for EFT's. It sounded all very reasonable to me.
