Is Neteller as safe as a Bank?

edub69 · Oct 15, 2005

I'm sure it is, but just wanted to get some feedback here. I made a withdrawal from a book into Neteller and left it there for a few days before I decided to make my withdrawal to my bank account. I went to login to Neteller, and it said my account had been closed due to "unspecified reasons" and to call their security department. It turns out that they were just doing an IP check because I was logging in from a different country. But it made me nervous for a few minutes, since I had a decent amount of money in there when it happened.

Dante · Oct 15, 2005

I personally feel it is just as safe due to the MILLIONS of people using it ..to me that makes it very,very unlikely it will go under...

but Fishhead says im crazy to think that....

I always keep a balance in there for post up

GreenDoberman · Oct 15, 2005

No it is not anywhere near as safe as a bank. What government is backing those deposits? None.

Neteller and the top books are RELATIVELY safe, but not completely safe.

randyrohm · Oct 15, 2005

Nowhere near as safe as a bank. Not even as safe as a few of the top books.

Santo · Oct 15, 2005

They are now regulated by the FSA (Financial Services Authority) here in the UK I think you'll find..

Aveedesk · Oct 15, 2005

Nothing is 100% safe. Especially if it's not your money. The doors can close in the middle of the night and never open in the morning. Think about it, many banks in South America did just that.

Dante · Oct 15, 2005

GreenDoberman said:
No it is not anywhere near as safe as a bank. What government is backing those deposits? None.

Neteller and the top books are RELATIVELY safe, but not completely safe.

good point....Relatively safe is a better word..but I have no fear that it will go tits

up like some of the other small ones have in the past....it will be around for a LONG time its to HUGE to not be