Neteller Shutting Down (speculation)

[Nick Douglas]

I was making a withdrawl from 5dimes this morning and the lady on the phone told me that Neteller is most likely going to be shut down due to credit card companies cracking down on charges made to Online sportsbooks.

As you guys may know, a lot of credit card companies don't allow charges to online books and Neteller was a way to get around that. I don't know the details and I am just going on what the 5dimes rep told me, but she said that they are keeping as little money in Neteller as possible because they don't want to risk losing it if it gets shut down unexpectedly.

I am not saying it will happen, but just to be safe, I am going to take all my money out of Neteller and hope that these books start accepting Paypal.

 

[DOGS THAT BARK]

Howdy Nick Thanks for info.Seems everytime something works well it doesn't last.Thought the Paypal-Neteller was perfect duo.Could leave bulk in Paypal for interest and insurance purposes and transfer to Neteller when needed.Then Neteller quit accepting Paypal.Now if this neteller thing goes down I will be back to square A.
P.S. Try sending Paypal an email on how to close out a Paypal account through your checking account.If you get them to reply it will be major feat.Been trying for 2 weeks and only response is after 3rd email was "we got your 1st email no need to keep sending,we reply to email in order they are received."

 

[Neemer]

DTB...

Just for curiosity purposes, are you trying to close your PayPal checking acct.?
Why would ya want to close it? It's my understanding that they don't charge maintanence fees no matter what your balance is. You'll get 3.75% on all of it that just sits there. However, I could be wrong about the charges, do ya happen to know??

 

[5Dimes]

Nick,
We are sorry for not having the funds in place to process your Neteller redemption. We are the last ones who want to start any negative rumors about Neteller. The company just makes life easier for everyone. All we're saying is that we've decided in the past month to be very cautious with the amount of funds we keep with Neteller. We don't see any chance of receiving funds at Neteller if the US government decides to freeze assets and/or operations of the company. Players and sportsbooks can potentially be left out in the cold.

We have taken steps to insure that within a week, funds will always be available for Neteller redemptions. All customers need to do is call the 5Dimes Customer Service department if prompted by Neteller and we will make the neccessary transfers to insure you will have the requested funds in your Neteller account as quickly as possible.
All we suggest, is don't keep the funds in there too long. You never know, WHAT IF...

 

[5Dimes]

After making the post regarding our stance on Neteller, 5Dimes was contacted within 15 minutes to discuss our stance on Neteller.(Impressive!!)
An e-mail sent last week from 5Dimes arrive at their offices. We took this unanswered e-mail as a "we don't want to answer these questions" stance. It turns out the mail may be simply lost somewhere in cyberspace. Our customer service dept. will check on that tommorrow.
Looking back, we should have just picked up the phone.

I was informed that Neteller keeps no $$ in US banks. They are based out of Canada. Neteller severed ties with Paypal becuase Paypal significantly raised the operating rates they charged Neteller on transactions. Also, Paypal keeps funds in US banks. Thats a NO NO as far as I see it.
Also, Neteller is opening up offices in Costa Rica so that the company can be closer to its merchants. This will make it easier for all books in Costa Rica to ensure there are Neteller funds are available for their clients.
After a lengthy conversation assuring me that Neteller is far from the reach of the US Government, I feel very relieved that one of our best outlets for sending and receiving funds with customers will remain intact for a long time to come.

 

[DOGS THAT BARK]

5Dimes: Thanks for update and many thanks for the excellent array of golf matchups and the inclusion of seniors and lpga.CHEERS

Neemer: Could see no use for Paypal after severance from Neteller and hate to have a personal checking account # floating around in cyberspace for no apparent reason. Especially after what happened @ Oly several months back.