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I believe that Neteller is not in the US.
Neteller is not a casino, and has nothing to do with the new law.
So americans should just use Neteller as a middleman and be safe?US Banks and Credit Card companies will be prohibited from making transactions or money exchanges with Neteller. ISPs will likely ban access to that site as well.
Guys I am reluctant to discuss this publically, but I think it would be prudent if our partners set up a fourth party payment solution NOW to serve as an interface between Neteller and our US banks.
or the OTHER existing payment services could be used.]
There are plenty out there,Professor,
Are you saying that NETeller ONLY deals with gambling vendors ? If NETeller deals with “retail” vendors, how could a transaction automatically be blocked then, if it is unknown as to whether or not the transaction is gambling-related.
If NETeller is exclusively a gambling middleman, then it is clear that they will be blocked.
Can anybody think of another business that accepts Neteller?
I can’t!
“Peer to Peer” transactions – send money to your stranded aunty etc – There all sorted neteller survives
OK, here’s an old article (2005) that insinuates that NETeller is not exclusively gambling-related:
Specifically, the article sites the following:
========================================================
Online gambling, now $9.8 billion a year, will grow an average 13% annually through 2010, estimates industry tracker Christiansen Capital Advisors. Neteller is eyeing more conventional businesses, too. Last month the company paid $12.5 million for Quick Access International, a debit-card processor in Macau that handles $50 million of transactions a year in Asia, most non-gambling-related.
========================================================If NETeller deals with “retail” vendors, how could a transaction automatically be blocked
When a merchant accepts a payment the transaction includes a code that tells the bank what the transaction is for, gennerally. This is why credit cards get declined. The ones that go through can be that the code is for something other than gambing, which is usually the case but not always. It is more likely than not NETeller (third party vendor) has codes set up for other than gambling, this why it works in the first place. (This why the Banking Association said it would be hard to track)
Funds move from US to NETeller via wire (ie. wire act) legally. Same as transfering to/from US to Paypal. Since NETeller and the casino are both not in the US – no wire act violation.
They blocked Neteller when they were testing the filters at Adelphia/Comcast so its already in the filter list and a lost cause.
Quote:or the OTHER existing payment services could be used.]
There are plenty out thereIf they are already identified as handling gaming transactions then they will most likely be blocked or refused also. Nope, what we need is something new, thats not on the DOJ rader screens or filter lists. I dont even want to know its name or where its hosted or its url. I just hope its created now and used AFTER filters/blocks are put into place so we have an alternate means of transfering funds.
Here’s another interesting article:
http://www.dailybruin.ucla.edu/news/articles.asp?ID=36641
Specifically, the interesting point is:
If the bill is passed, companies like Neteller would have to separate their company between gambling and nongambling operations if they wanted to continue doing business with the U.S.
Although the inevitable will surely come, what are some short-term solutions for getting money out of NETeller, once the blocking starts:
1) Peer-to-peer with Paypal ?? Would this be permitted ?
2) Cutting a check from Neteller, and depositing it manually at
bank ? Would this stand a chance of clearing ?3) Cashing a NETeller check down at the local “we cash all checks”
store for a fee ?? Hmmm, if that’s the case, maybe Uncle Sam
can be cut out of the tax loop ?Any other ideas here ?
NETELLER extensively uses the ACH system – that which allows direct transactions (deposit, withdraw) to customer checking accounts with member banks. If I understand correctly they were one of the pioneers to exploit this method and was crucial to their early success during the first round of clampdown on online gambling credit card transactions.
But NETELLER has also diversified and grown its non-US business into Europe (European ACH style system), Japan and purchase of 1-pay Asian payments. But just what percentage of their business is non-US I have no idea. My hunch is their US-business is mostly subsidizing their operations in other markets.
In fact, I noticed that my ACH deposit transactions into NETELLER has been experiencing a delay (since August). I’ve had to wait a good 10 days before an ACH deposit can be used. Their e-mail support has been terrible, too since August. Just this week, I received no e-mail confirmation that my support e-mail was received.
Merchants would be prudent by starting to shift usage of other European payment systems such as MoneyBookers and Click2Pay. The industry will not run out of alternative payment systems – but indeed it will add another layer of complexity to payment processing. Non-Visa & Non-MC cash/debit cards will definitely be considered seriously despite the higher merchant fees – some companies like TREOCard and G-PAP may be well poised to capitalize on their opportunity.
Of course in the UK, Paypal happily accepts online gambling transactions. :banger:
some links:
http://www.MoneyBookers.com
http://www.TrioPass.com http://www.G-Pap.com
http://www.Click2Pay.com
http://www.uKash.comThere’s a thread at Casinomeister where some individuals who bank with Wachovia and Washington Mutual have been experiencing NETeller transactions be declined per the bank’s policies.
NETeller would send the transaction, the bank would decline it, then NETeller would send it again disguised as something else, and it would go through. The problem is that they would ding the customer the $30 NSF fee because of the initial decline.
http://www.casinomeister.com/forums/other-complaints/13646-big-neteller-problems.html
So despite the lack of a gambling flag on ACH transactions, banks already have the capability to detect and decline NETeller transactions.
The part that is worrisome is the possibility that ISPs are going to block access to NETeller and similar sites.
