Neteller moved to Ireland. The problem may be transferring monies to Neteller from a US financial intermediary. It is likely that Neteller would be identified as a gambling conduit by the Feds and it would be on a list of blocked destinations along with the books themselves. This, of course, is conjecture.
Although I cannot find the information on their website, NETeller must now be incorporated in the UK, since their name is NETeller plc and they are traded on the London Alternative Market.
Also from their website: "Please note that your personal information will be stored and processed on our computers in the Isle of Man. The laws on holding personal data in the Isle of Man may be less stringent than the laws of your country but NETeller will hold and transmit your personal information in a safe, confidential and secure environment. If you object to your personal information being transferred or used as described in this Privacy Policy, please do not register for the NETeller service."
Also from their website: "Please note that your personal information will be stored and processed on our computers in the Isle of Man. The laws on holding personal data in the Isle of Man may be less stringent than the laws of your country but NETeller will hold and transmit your personal information in a safe, confidential and secure environment. If you object to your personal information being transferred or used as described in this Privacy Policy, please do not register for the NETeller service."
I called Neteller today to try and get a straight answer but was told that my inquiry had to go through email. I am still awaiting an answer, but they wouldn't even let me talk to a manager. I don't take this as a good sign.
I am not worried so much about getting money down to the books and back. There will always be a way. But I am worried about the money that was sent to books via Neteller. If books won't waiver on their Neteller requirements, your money is essentially "stuck" there. How are you going to get it out?
I corresponded to the three books today that I keep larger balances in. CRIS said they would waive Neteller requirements if we can't use it. Olympic (surprisingly) told me deposits via Neteller had to be withdrawn via Neteller. Pinnacle sent me an email that basically said don't worry about it, there are other deposit/withdrawal methods available (though I am not sure exactly what because their Instadebit will get bounced just as fast as Neteller and they don't take Western Union anymore).
I'll post when I hear from Neteller. Hopefully on Tuesday. In the meantime, I am considering just pulling all my balances and using Western Union and other methods to refund the accounts.
I am not worried so much about getting money down to the books and back. There will always be a way. But I am worried about the money that was sent to books via Neteller. If books won't waiver on their Neteller requirements, your money is essentially "stuck" there. How are you going to get it out?
I corresponded to the three books today that I keep larger balances in. CRIS said they would waive Neteller requirements if we can't use it. Olympic (surprisingly) told me deposits via Neteller had to be withdrawn via Neteller. Pinnacle sent me an email that basically said don't worry about it, there are other deposit/withdrawal methods available (though I am not sure exactly what because their Instadebit will get bounced just as fast as Neteller and they don't take Western Union anymore).
I'll post when I hear from Neteller. Hopefully on Tuesday. In the meantime, I am considering just pulling all my balances and using Western Union and other methods to refund the accounts.
Congress is supposed to recess October 8th this year. That should end this two year term and kill all unfinished business.
HOWEVER, there is talk that they may come back in November as a lame duck COngress to finish up some unfinished business. In my opinion this is when they are the most dangerous. Usually they return to finish an budget deal or something but this year it may be for the 9/11 bill. We'll see.
HOWEVER, there is talk that they may come back in November as a lame duck COngress to finish up some unfinished business. In my opinion this is when they are the most dangerous. Usually they return to finish an budget deal or something but this year it may be for the 9/11 bill. We'll see.
As soon as I get an email response, I'll post it.
I agree, I thought the bigger books would just say take a check via FedEx (which Pinnacle basically said without coming right out and saying it) or use Western Union for withdrawals. That is why I was surprised by Olympic's response.
One thing I forgot to add was that the three books I talked to today all said you have to deal with Neteller on the issue. CRIS was the most helpful, though.
In the meantime, I am probably pulling money from all second-tier sportsbooks in the a.m. With the bigger books, I have a feeling all will be OK eventually. But the smaller books are just too unpredictable. I never leave any substantial balances in any of them anyhow.
I agree, I thought the bigger books would just say take a check via FedEx (which Pinnacle basically said without coming right out and saying it) or use Western Union for withdrawals. That is why I was surprised by Olympic's response.
One thing I forgot to add was that the three books I talked to today all said you have to deal with Neteller on the issue. CRIS was the most helpful, though.
In the meantime, I am probably pulling money from all second-tier sportsbooks in the a.m. With the bigger books, I have a feeling all will be OK eventually. But the smaller books are just too unpredictable. I never leave any substantial balances in any of them anyhow.
An Update
No email response yet from Neteller so I called them again this morning.
Was told by a customer service rep that someone "higher up" in the company will respond to my email, but it will take up to 72 hours for that response to come. Again, I think this silence speaks volumes.
Was also told by the rep that there is "buzz" going around the office, but no one has made an official statement yet. I tried to get transferred to a supervisor or managment, but she just kept giving me the runaround.
Symbolic of how everyone is handling this was how she responded to my concerns. First she tells me they are located in Canada and operate internationally and this won't affect them.
I tell her that I am sure they do plenty of US business, and it will have some affect on them. Then I proceed to go into the language of the bill and explain that they are a "banking instrument" and if the feds want to bounce them, they won't be doing any business in the US.
She proceeds to tell me they are not a "bank" and this probably isn't going to affect them. She said they are only a money transfer operation that helps people transfer money around the world, blah, blah, blah.
In other words, she confirmed that they are a "banking instrument." I never said they were a bank.
So the beat goes on and we wait another day. I also received some clarification from Pinnacle and they said they would allow other withdrawal methods if Neteller ceases to function with US bank accounts.
The email also said there is always the option of a bank wire. That to me, though, shows how asleep at the switch everyone is about this legislation. A bank wire is a banking instrument and it just won't fly if the government feels the need to put the clamp down.
I wonder if our elected officials have any idea how many millions of their citizens' money is sitting offshore right now. Probably not. If they did, I think they may think twice about passing this legislation.
I want to make it clear I am not calling out the three books I've dealt with on the issue: Pinnacle, Olympic and CRIS. I feel all three will do right by their customers. They've also paid me promptly, they've always dealt with me very fairly and I've never had any problems with any of them.
But I feel they aren't taking this seriously. If anyone has any other news, please share.
No email response yet from Neteller so I called them again this morning.
Was told by a customer service rep that someone "higher up" in the company will respond to my email, but it will take up to 72 hours for that response to come. Again, I think this silence speaks volumes.
Was also told by the rep that there is "buzz" going around the office, but no one has made an official statement yet. I tried to get transferred to a supervisor or managment, but she just kept giving me the runaround.
Symbolic of how everyone is handling this was how she responded to my concerns. First she tells me they are located in Canada and operate internationally and this won't affect them.
I tell her that I am sure they do plenty of US business, and it will have some affect on them. Then I proceed to go into the language of the bill and explain that they are a "banking instrument" and if the feds want to bounce them, they won't be doing any business in the US.
She proceeds to tell me they are not a "bank" and this probably isn't going to affect them. She said they are only a money transfer operation that helps people transfer money around the world, blah, blah, blah.
In other words, she confirmed that they are a "banking instrument." I never said they were a bank.
So the beat goes on and we wait another day. I also received some clarification from Pinnacle and they said they would allow other withdrawal methods if Neteller ceases to function with US bank accounts.
The email also said there is always the option of a bank wire. That to me, though, shows how asleep at the switch everyone is about this legislation. A bank wire is a banking instrument and it just won't fly if the government feels the need to put the clamp down.
I wonder if our elected officials have any idea how many millions of their citizens' money is sitting offshore right now. Probably not. If they did, I think they may think twice about passing this legislation.
I want to make it clear I am not calling out the three books I've dealt with on the issue: Pinnacle, Olympic and CRIS. I feel all three will do right by their customers. They've also paid me promptly, they've always dealt with me very fairly and I've never had any problems with any of them.
But I feel they aren't taking this seriously. If anyone has any other news, please share.
Very true Drunkguy. Very true. I've always debated the issue of paying taxes on something the government fights tooth and nail to outlaw. Personally, I feel this is the heart of the issue. They'll make it near impossible to play offshore because they can't regulate and tax it. They may (someday) allow it to happen here in the US. But then the powerful Las Vegas casino crowd will throw a fit and we'll be back to square one: playing with locals who hang lines an hour before the game.
Thanks General for getting me back in the forum.
Secondly, you are exactly right. I've seen it happen time and again. Some people just can't handle gambling on credit, know nothing about money managment principles in relation to bankroll, and could care less what the line is. They just fire away and then double up.
Let's hope this all gets worked out.
Also, has there been any word from Shrink or the books about this issue regarding the pending legislation? I read the thread where the Shrink urged people to write officials, but have any of the books contacted him or vice versa with an opinion on how this may play out?
As always, thanks for the good work you guys do here.
Secondly, you are exactly right. I've seen it happen time and again. Some people just can't handle gambling on credit, know nothing about money managment principles in relation to bankroll, and could care less what the line is. They just fire away and then double up.
Let's hope this all gets worked out.
Also, has there been any word from Shrink or the books about this issue regarding the pending legislation? I read the thread where the Shrink urged people to write officials, but have any of the books contacted him or vice versa with an opinion on how this may play out?
As always, thanks for the good work you guys do here.
I can only add to this that as would be expected Pinnacle, The Greek, Cris, 5Dimes, and Bowmans all have said this morning that in the worse case scenario a check could be issued to those of us at the mercy of morons.
IMO, not much is likely to happen this time. Relax and have a Guinness. Brilliant. Still not too smart to be playing with second tear books right now.
Brilliant.:drink: Brilliant.
IMO, not much is likely to happen this time. Relax and have a Guinness. Brilliant. Still not too smart to be playing with second tear books right now.
Brilliant.:drink: Brilliant.
