Neteller Is Staying

[KsItLoLnEeR 0]

DOW JONES NEWSWIRESOctober 11, 2006 12:31 p.m.A Neteller PLC executive said the British company, which handles payments for online gambling companies and others, will continue to operate in the U.S., despite the recent passage of antigambling legislation."We are staying in the U.S.," said Bruce Elliott, Neteller's executive vice president, marketing and sales, told a online gambling conference in Barcelona. "I don't think we have a very big problem."...woot

[JMoney2681 0]

DOW JONES NEWSWIRESOctober 11, 2006 12:31 p.m.A Neteller PLC executive said the British company, which handles payments for online gambling companies and others, will continue to operate in the U.S., despite the recent passage of antigambling legislation."We are staying in the U.S.," said Bruce Elliott, Neteller's executive vice president, marketing and sales, told a online gambling conference in Barcelona. "I don't think we have a very big problem."...woot

Nice to know

[nutzbuster 7]

DOW JONES NEWSWIRESOctober 11, 2006 12:31 p.m.A Neteller PLC executive said the British company, which handles payments for online gambling companies and others, will continue to operate in the U.S., despite the recent passage of antigambling legislation."We are staying in the U.S.," said Bruce Elliott, Neteller's executive vice president, marketing and sales, told a online gambling conference in Barcelona. "I don't think we have a very big problem."...woot

Yayyyyyy!!!!!!!!!!!!!!!!!! Now if we can just get them to ratchet down those ridiculously expensive fees!

[No_Neck 0]

Yayyyyyy!!!!!!!!!!!!!!!!!! Now if we can just get them to ratchet down those ridiculously expensive fees!

I don't think they are that much.

[delphi12 0]

All these companies can say this, but if your local bank blocks the transaction, then who cares. Its going to be very easy for large banks like Wells Fargo, Bank Of America, Citibank, etc to block these (I used to work for a large bank in Los Angeles in the technology department. We blocked transactions all the time. Very easily). You may be able to get around this by going to a local credit union or something that may not have the technology to block it, but I think they will outsource the technology to do it. They dont want to be held liable by the feds.

[Knight_Owl 0]

All these companies can say this, but if your local bank blocks the transaction, then who cares. Its going to be very easy for large banks like Wells Fargo, Bank Of America, Citibank, etc to block these (I used to work for a large bank in Los Angeles in the technology department. We blocked transactions all the time. Very easily). You may be able to get around this by going to a local credit union or something that may not have the technology to block it, but I think they will outsource the technology to do it. They dont want to be held liable by the feds.

mmmmmhuh

[No_Neck 0]

They can't block EFT's from them.

[JMoney2681 0]

They can't block EFT's from them.

Some yes, some no.

[KsItLoLnEeR 0]

All these companies can say this, but if your local bank blocks the transaction, then who cares. Its going to be very easy for large banks like Wells Fargo, Bank Of America, Citibank, etc to block these (I used to work for a large bank in Los Angeles in the technology department. We blocked transactions all the time. Very easily). You may be able to get around this by going to a local credit union or something that may not have the technology to block it, but I think they will outsource the technology to do it. They dont want to be held liable by the feds.

there is a litney of articles with banking experts as well as people who RUN the banks, as well as the bill's wording that makes this post laughably incorrect.check your facts, just cause you worked at a bank doesnt make you an expert, you might want to read up on the bill and what the experts are saying before making posts like these.of course, maybe you know more than they do.

[delphi12 0]

They can't block EFT's from them.

REALLY?? ARE YOU SERIOUS?? Uhh.. Thats exactly what we do. Wire Transfers, EFTs and ACH transactions. We had a list of over 3000 names, countries, companies and such that got blocked all the time. Thats part of what my software did (compare transactions to that list).One of the problems with my software was one of our clients, Cuba Gooding Jr. Any wire transfer, EFT, or ACH to or from him was blocked and passed to a manager because CUBA was in the transaction. I guarantee the software at other banks do the same thing. All they have to do is add the word POKER, NETELLER, FIREPAY, etc to that list. It will mean transactions will have to be approved and most won't. Its just that simple.

there is a litney of articles with banking experts as well as people who RUN the banks, as well as the bill's wording that makes this post laughably incorrect.check your facts, just cause you worked at a bank doesnt make you an expert, you might want to read up on the bill and what the experts are saying before making posts like these.of course, maybe you know more than they do.

It is laughable what they are saying. Just look at the expert who controls commerce on the inernet - QUOTE: "its a bunch of tubes." Most of the people who work at the banks would love to get computers out of the equation. They loved doing things by hand. My superiors were shocked when we were able to do things they thought were impossible or would take months to implement. You dont have to believe me. I really couldnt careless. But talk to someone who works in the technology department of a bank and you will find out that this is extremely easy to implement.

[lind0 0]

I don't see why the banks would block those transactions. It's illegal to transfer money to gaming sites, but it's not illegal to transfer money to a company like Neteller. From the banks perspective, they don't know if you're using your money illegally after they transfer it for you and why should they care? It's the same as if they give you cash and you commit a crime. Do they care about that? You might use it for gambling or you might use it for saving children in Africa. As long as what they're doing is legal, what you do after that should be up to you, so I'm sure most banks will have a don't ask/don't tell policy.

[delphi12 0]

I don't see why the banks would block those transactions. It's illegal to transfer money to gaming sites, but it's not illegal to transfer money to a company like Neteller. From the banks perspective, they don't know if you're using your money illegally after they transfer it for you and why should they care? It's the same as if they give you cash and you commit a crime. Do they care about that? You might use it for gambling or you might use it for saving children in Africa. As long as what they're doing is legal, what you do after that should be up to you, so I'm sure most banks will have a don't ask/don't tell policy.

That may be an option they take. However, unless Neteller shows the govt that they have clients OTHER than gambling sites, they will be added to the "block list" (I wish i could remember the acronym used in the banking industry for this list - its given by the govt and all banks get it - updated monthly, if i remember correctly) - its that simple. Also, banks want to keep your money. Anything they can do to keep your money in their accounts, they will. I see this being very easy. I could be wrong. I doubt it. But I'll admit that I'm wrong if the banks don't do anything. I just think they will since its very easy.

[Dogpatch 2]

And you can use checks. The banks have already said they won't track checks. I also find it hard to believe any bank will block transfers to a legitimate business. Hey lookout, the sky is falling.

[mx957 0]

That may be an option they take. However, unless Neteller shows the govt that they have clients OTHER than gambling sites, they will be added to the "block list" (I wish i could remember the acronym used in the banking industry for this list - its given by the govt and all banks get it - updated monthly, if i remember correctly) - its that simple. Also, banks want to keep your money. Anything they can do to keep your money in their accounts, they will. I see this being very easy. I could be wrong. I doubt it. But I'll admit that I'm wrong if the banks don't do anything. I just think they will since its very easy.

Neteller does have other clients besides gambling sites. They are similar to paypal. Plus Neteller has Visa cards and ATM cards available as well. Firepay on the other hand was almost exclusively gambling sites, therefore they are going to stop serviceing US accounts soon.

[KsItLoLnEeR 0]

there is a litney of articles with banking experts as well as people who RUN the banks, as well as the bill's wording that makes this post laughably incorrect.check your facts, just cause you worked at a bank doesnt make you an expert, you might want to read up on the bill and what the experts are saying before making posts like these.of course, maybe you know more than they do.

delphi, i was referring to BANKING experts. not politicians.it seems futile to argue this since you either know more than the people who RUN the banks, or you are so misinformed that you actully believe that being a bank teller make you an expert on how **** is run by rich people.we will see who is right, i'll put money on the experts. good luck

[thehidden 0]

Yayyyyyy!!!!!!!!!!!!!!!!!! Now if we can just get them to ratchet down those ridiculously expensive fees!

concidering they just gained a huge market to allow a potentially illegal activity, i would not be one bit suprised to see the fees go up atleast .5 of a percentage point!I think we'll just have to accept it because it's our bread and butter

[delphi12 0]

delphi, i was referring to BANKING experts. not politicians.it seems futile to argue this since you either know more than the people who RUN the banks, or you are so misinformed that you actully believe that being a bank teller make you an expert on how **** is run by rich people.we will see who is right, i'll put money on the experts. good luck

I wasnt a teller. I worked in the technology department of a large california based bank. I hope you are right. I think you are wrong. We'll leave it at that. Also, I've been searching google for articles where so-called "experts" have said this is impossible and I have yet to find one.Are you in a job or has anything ever been written about you that you knew was completely false? Has that ever happened to you? Because this is what is happening. I'm just being honest with what I know from being in the department. And for the person who said people will use checks. At the bank I worked for, all checks were scanned and used very sophisticated software to convert the handwriting to text. Those that it couldnt figure out were passed to a person to manually put them in. Once again, very easy to then check where its going to a list.Many articles I read say that more middle man will just pop up and that is what I think will happen. Its like the phishing scams. The site is up for like 5 days scamming people. Then they move it to a new IP address and spam again. They are one step ahead of the cops. So if neteller gets blocked (can you name me a site that accepts neteller that isnt a gambling site?), they'll just change the name and ip address and continue business as usual.

[Waffles2003 1]

can i get a link?

[blueodum 0]

So if neteller gets blocked (can you name me a site that accepts neteller that isnt a gambling site?), they'll just change the name and ip address and continue business as usual.Exactly. There are many avenues available to fund accounts, and no doubt the poker sites will be thinking up more of them.But it will be more difficult for the average US player to fund their habit.Since the majority of players are losing players, to continue to play, they need to make regular deposits. Every barrier put up to depositing means less US money for the poker sites.

[FourFlusher 0]

I say again...all they have to do is open a pre-paid phone company. You buy a $100 phone card, give it to Neteller proper, then on to the poker site. The card never gets authorized, so, it never gets used. Every body is happy.