Does anyone see a problem with this plan re Neteller?

[Mudcat]

I've had a couple of U.S. citizens ask if they can peer-to-peer transfer their Neteller balances to my Canadian account and then have me get them their money through other means. One person talked about me wiring them their funds (or just mailing them a cheque) and another talked about me doing a peer-to-peer transfer of the funds to their account at a sportsbook we both use.

I don't particularly mind doing it but I wonder if there are implications for me I am overlooking. Am I asking for trouble getting involved in this?

[Sam Odom]

Unless both parties personally KNOW each other well and have met face to face I would NOT do it

[freebie]

You should at least get a big cut out of the peer to peer as you are risking and doing them a favor.

[David]

Won't neteller likely close your account if they see you receiving p2p from Americans along with making deposits/withdraws at sportsbooks.

[Ganchrow]

I don't know exactly how it works in Canada, but I would think there would be significant tax implications if large sums of cash were to start hitting your bank account.

[ihaiha]

http://forumserver.twoplustwo.com/showflat.php?Cat=0&Number=8929751&page=0&fpart=all&vc=1

Here is a link over at 2+2(poker) , it seems to be going well there and i have not read about any problems with neteller as they are allowing peer to peer transfers from US to NON US. I would just rather have my balance transferred to a sportsbook rather than poker stars, thats why i came to Mudcat first with my offer along with the fact of his reputation on here i dont have any worries about recieving my funds back after transferring to him if he accepts.

[ihaiha]

Also the going rate seems to be about 5%, when you think about it, its a great $ making opportunity for the non US people accepting the transfers at that rate, I wish I was one of them

[MrX]

There is a TON of this going on right now. No horror stories yet. Neteller CS is actually recommending this to U.S. clients, so you shouldn't worry about them closing your account, etc., unless they have a serious change of heart (not impossible).

Doing player transfers to sportsbooks and pokerrooms would be pretty safe for you, Mudcat. I'm not sure about the implications of bringing it back to your bank and then wiring back the funds, but that would clearly be more risky for you.

[MrX]

By the way, I'm in the middle of this process right now, I'll report back when I'm done.

[Mudcat]

Thanks for the comments.