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From what I understand from other posts so far, Youteller is defined as a “Small E-Money Issuer”. This means that there are account limits of €150/$150.
Such limits may be enough to pay for various online subscriptions.. But unless this changes, it’s hard to see how we could be paid via Youteller nor how can players deposit large sums.
As for if Neteller is behind the scenes.. I believe it is very common for companies to expand their business by new companies and this doesn’t necessarily means Youteller can’t be trusted or Neteller is about to vanish. Neteller can and does earn from gambling dollars transactions from any non US player who can still enjoy its services.
Many of our own businesses are still surviving after the US ban.. It’s harder but we still carry on.. I’m sure Neteller does the same.
xxxhttp://www.egrmagazine.com/item/1586
YouTeller “false” claims
A new payments processor which says it will be open for business in March this year appears to be falsely claiming to be certified by the UK Financial Services Authority (FSA).YouTeller claims on its website to be a trademark of a company called Seed Capital Ltd, and gives an address in east London. A link on the company’s contacts page then diverts to the FSA register of Small E-Money Issuers where a company called Seed Capital Ltd is indeed listed.
However, a search on the FSA website reveals the company behind Seed Capital Ltd to be Oxford Technology Management, a company based in Oxford. When contacted by eGaming Review, a spokesperson at Oxford Technology Management said the company had never heard of YouTeller.
YouTeller also gives a registration number for Companies House in the UK on its website. A search under the number given comes up with the same east London address as the YouTeller website. The only director registered is one Florian Schweitzer with an address given in Austria.
This Seed Capital Ltd was registered at Companies House in October 2006. The other Seed Capital Ltd, from Oxford, registered its name at Companies House in July of last year. Schweitzer is not registered personally with the FSA.
A spokesperson for the FSA said the matter had been passed on to the relevant department for investigation.
Neither YouTeller or Schweitzer was available for comment.
We will see how this pans out. I’m not sure if I should be encouraged or discouraged in the amount of “New” processors that have popped up. Look like a few scam operations wanting to take advantage of people wanting to game online. Hell look at some of the posting boards out there. There is no shortage of people wanting to take 50% of your neteller funds in order for you to get your $$ out! Ridiculas how many fly-by nights may come out of all this.
