tightmike 0 Posted April 19, 2005 Share Posted April 19, 2005 This maybe obvious, but not to me. I have never paid anything to Neteller and don't see any advertising. Do they strictly make money from the sites that accept them? Link to post Share on other sites
allinbluff35 0 Posted April 19, 2005 Share Posted April 19, 2005 the clowns that use instacash Link to post Share on other sites
DCWildcat 0 Posted April 19, 2005 Share Posted April 19, 2005 8.9% deposit fee Link to post Share on other sites
justblaze 0 Posted April 19, 2005 Share Posted April 19, 2005 they make money in several ways. they screw people on exchange rates, they charge exorbitant fees to addicted gamblers who need their money NOW instead of waiting 3-4 days, and they collect piles of short term interest. do you have any idea how much cash is sitting in neteller accounts at any given time? they put that money into short term investment vehicles and collect interest on your money, while paying you none. Still an excellent service, though. Link to post Share on other sites
obs 0 Posted April 19, 2005 Share Posted April 19, 2005 For one, the highway robbery 8.9% fee. Two, the same way a bank does. Granted, they don't keep as much money in accounts as in a bank but they still make interest off your money while it is in there. Link to post Share on other sites
dms26 3 Posted April 19, 2005 Share Posted April 19, 2005 the clowns that use instacashThey make 9% in a 3-4 day turnaround, which is basically legalized loan sharking. Actually I don't think even loan sharks could charge that much. Link to post Share on other sites
justblaze 0 Posted April 19, 2005 Share Posted April 19, 2005 the clowns that use instacashThey make 9% in a 3-4 day turnaround, which is basically legalized loan sharking. Actually I don't think even loan sharks could charge that much.they cant. its waaaaay over the maximum interest rate of 60% per annum. Link to post Share on other sites
mclark340 0 Posted April 19, 2005 Share Posted April 19, 2005 8.9% is not all for interest...it is also considered a service fee...a way to get around maximum interest rate laws. Link to post Share on other sites
cdddc75 0 Posted April 19, 2005 Share Posted April 19, 2005 In addition to instacash, I'm sure that the sites have to pay some sort of transaction fee, just as regular merchants pay to Visa and Mastercard. Link to post Share on other sites
Kevin Garceau 0 Posted April 19, 2005 Share Posted April 19, 2005 I was told once that a site has to pay a fee for each time it puts money back into neteller.... something pretty big too. Like 7 bucks, a transaction.Now that could be way off, but figure thats still a small amount to a site like stars with the amount of rake they are pulling in. Now think of all the transactions it puts through to neteller in a day.... DAYUM. Even if its only a buck, wish I had come up with the idea Link to post Share on other sites
DCWildcat 0 Posted April 19, 2005 Share Posted April 19, 2005 Do they get 8.9% on ever transaction (withdrawal and deposit)?Also, do they only get that on instacash, or does that go for all transactions? Link to post Share on other sites
dms26 3 Posted April 19, 2005 Share Posted April 19, 2005 Do they get 8.9% on ever transaction (withdrawal and deposit)?Also, do they only get that on instacash, or does that go for all transactions?Just on the instacash deposits, it's free if you go the regular route and wait 4 days for the bank to wire it. But I'm sure they also charge a small fee for every transaction, but the poker sites pick up that fee.I use neteller and haven't paid anything. Link to post Share on other sites
smurdogg 0 Posted April 19, 2005 Share Posted April 19, 2005 just intstacash. I've been there. needing to play now, not 3-4 days. it acutally took a full week every time. Link to post Share on other sites
smurdogg 0 Posted April 19, 2005 Share Posted April 19, 2005 just intstacash. I've been there. needing to play now, not 3-4 days. it acutally took a full week every time. Link to post Share on other sites
Swift_Psycho 1 Posted April 19, 2005 Share Posted April 19, 2005 they make money in several ways. they screw people on exchange rates, they charge exorbitant fees to addicted gamblers who need their money NOW instead of waiting 3-4 days, and they collect piles of short term interest. do you have any idea how much cash is sitting in neteller accounts at any given time? they put that money into short term investment vehicles and collect interest on your money, while paying you none. Still an excellent service, though.Hehe. Good post. I especially like the last sentence after having said everything that you did before it./shrugI dunno, I thought it was funny. :? Link to post Share on other sites
mjd 0 Posted April 19, 2005 Share Posted April 19, 2005 If you use neteller instacash through the Paradise client (to deposit directly into your Paradise account), Paradise waives the neteller instacash fee.Not that you should ever need a reload on Paradise with all their fish, but I thought you should know. Link to post Share on other sites
justblaze 0 Posted April 19, 2005 Share Posted April 19, 2005 they make money in several ways. they screw people on exchange rates, they charge exorbitant fees to addicted gamblers who need their money NOW instead of waiting 3-4 days, and they collect piles of short term interest. do you have any idea how much cash is sitting in neteller accounts at any given time? they put that money into short term investment vehicles and collect interest on your money, while paying you none. Still an excellent service, though.Hehe. Good post. I especially like the last sentence after having said everything that you did before it./shrugI dunno, I thought it was funny. :?meh, i actually meant it. despite the fact that *gasp* they are trying to make a profit, they provide excellent customer service, they are reputable and regulated, accepted almost universally (in the online gambling world) and there are ways to get around the fees. Link to post Share on other sites
lizzybobio 0 Posted April 20, 2005 Share Posted April 20, 2005 Expect Neteller to just get bigger now that lots of people can't use credit cards to buy smokes from the internet anymore. Link to post Share on other sites
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