NETELLER Announces Service Changes to Canadian and Turkish Market

[ugard]

Morning,

"The company will stop processing payments for online gamblers in Canada from April 9 and in Turkey from today. Non-gambling transactions will continue in both countries. Neteller, which derives much of its business from online gambling, said the loss of the Canadian business is "likely to have a material negative impact on the group's results" this year."

Source: http://www.telegraph.co.uk/money/mai...neteller26.xml

There is also new information in the press release concerning the return of US money:

"The Company would, in light of recent press comment concerning its announcement of 21 March 2007, like to make clear that the 75 day period referred to in that announcement was for agreement of a plan of distribution with the United States Attorney's Office. It would remain to be determined, as part of that plan, the precise timing of the distribution of funds to US customers."

Read the full press release here: http://www.neteller-group.com/press/en/127.htm

[sportsfanatic]

Yup, no more Neteller by Apr 9. Any Canadians on here have any experience cashing foreign checks at Canadian banks? Never done it before.

[LargeMouthBass]

I didn't even know Turkey had internet connection...

[buztah]

Why is this?

I'm Canadian and have been betting online on sports? Is this illegal? I thought it was legal? Why would Neteller pull out then? Thanks.

Here we are in 2007 and people still care how I spend my money. Unreal!

[increasedodds]

It's called extortion.

Neteller had no way to keep Americans out of Canada since Canada will issue licenses to Americans and Canada does not allow private databases of SIN numbers.

Most likely the US gov told Neteller they must withdraw or...

-Sean

[nep1293]

I wonder if any Americans set up accounts or residency in Canada after the first Neteller crisis. Kinda sucks for them if they went to that kind of trouble only to be booted from Canada. And I don't know much about Turkey but how the hell do they fit in to all this? Weird

[marc]

I just hope neteller manages to stay in business long enough to pay us all back. Does Neteller really have a large enough European base to keep them afloat.

[Pedro]

Is there any alternative to Neteller for Canadian users?

Pedro

[Santo]

They have a big European base yes. Big enough? Who knows? But plenty of companies operate primarily on European revenue (Moneybookers for example) and do just fine..

[marc]

Is there a reason why someone would choose Neteller over Moneybookers. Doesn't moneybookers charge a lot less than Neteller

[increasedodds]

Moneybookers has much lower limits.

I went through the trouble of setting up Canadian neteller accounts.

I have friends in the UK and Panama and could set up accounts, but will not because I don't believe Neteller will be in business much longer.

Neteller will be replaced very shortly.

Sean

[Santo]

Not true if you have submitted the documentation necessary for "Pro Gambler" status at MB.

[Santo]

Is there a reason why someone would choose Neteller over Moneybookers. Doesn't moneybookers charge a lot less than Neteller

Yes and no really... There are more places that accept NT but not MB than vice-versa for some reason, MB offer better Forex rates, both are fairly comparable for same-currency withdrawals.

[marc]

I wonder if Neteller is preparing themselves to be bought out by MB. I can't see how they can compete agianst MB in Europe

[SquareShooter]

I wonder if Neteller is preparing themselves to be bought out by MB. I can't see how they can compete agianst MB in Europe

If they wanted they'd be competetive in a week.
Only two things need to be done:
1. lower the rates to the level of Moneybookers or lower;
2. accept customers from all European countries.

When its done they're competitive.

[Pedro]

Not true if you have submitted the documentation necessary for "Pro Gambler" status at MB.

What are the limits for 'Pro Gambler' and how can you get the 'Pro Gambler' status?

Thanks,

Pedro

[JoshW]

Didn't see this coming at all. Canadian market had to be pretty big. Not good for US players, but I still feel like they will pay.

I feel for the Canadian players, plain sucks.

[Seattle Slew]

During the first Gulf War, Saudi Arabia would not allow US planes to use it bases for strikes against Iraq, so the US refueled and used bases in Turkey and that country was rewarded with money/aid.

However, I think Turkey didn't allow US planes to use their bases for the current Iraq war, but not sure on that.

Other than that, they don't have much connection to the US.

And I don't know much about Turkey but how the hell do they fit in to all this? Weird

[increasedodds]

Turkey actually has stringent anti gambling regulations. They have been arresting agents lately...

No idea what Canada did wrong other than having an unprotected border.

Sean

[buztah]

I'm Canadian and have been betting online on sports? Is this illegal? I thought it was legal? Why would Neteller pull out then? Thanks.

Here we are in 2007 and people still care how I spend my money. Unreal!

Thoughts? Worried here.

[rm18]

Is there a reason why someone would choose Neteller over Moneybookers. Doesn't moneybookers charge a lot less than Neteller

more expensive but the good books eat the fees

[fish]

no more neteller in Canada

no biggie people - it will be a bit more of a hassle - i have an online betting account with bet365 - as of right now they will deposit funds into your **** account - if the banks follow suit - which they probably will - you can exchange money with the sportsbook via cheque or Western Union - they will do the same if you're looking to withdraw funds

[betplom]

Since *******, Citadel, & now Neteller have left the North American gambling market, Instadebit is the last Canadian based e-wallet and probably the next to go.

I have switched to Moneybookers and have opened an ECO Card account.

[pags11]

get your money the hell out of this ewallet yesterday!...