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    Neteller Announces Return of Funds


    The Neteller PLC group today announced a plan to return all monies owed to United States residents. As we reported this weekend the 75 day time-line that Neteller announced back in March of this year expired on June 4th.

    Neteller had claimed that over $55 million dollars were seized by the DOJ after the arrests of two Neteller founders.

    The press release had some encouraging news for US residents with money tied up in Neteller. “US customers will be able to access their NETELLER accounts online for a certain time and make a request for their funds.” This is obviously something that Neteller US customers have been waiting for several months now ever since the passing of the Unlawful Internet Gambling Enforcement Act of 2006, followed by Neteller’s decision to leave the US market tying up millions of dollars.

    The release also stated, “NETELLER will not charge fees to customers to process requests for funds. Funds will be distributed either by electronic transfer to the bank account on record with NETELLER or by a cheque to be sent to a mailing address as confirmed by the customer. If a US customer has a bank account already registered with NETELLER, funds transfer will be by electronic transfer subject to confirmation by the customer that the registered bank account remains valid. US customers will receive the entire balance of funds in their account; no requests for partial payments will be processed. US customers cannot use their accounts for any transaction other than to request the funds.” This basically will assure that anyone who had EFT’S that were stuck in “pending” with Neteller will eventually go in to your bank account.

    The expected date for this to begin is July 13th, 2007. Neteller explained that further information regarding customers funds will be communicated to them via email, through our website and through a press release once the date for implementation of the Distribution Plan is finalized.

    It’s a good time to make sure your email address, billing address and bank information is current with Neteller. It will save you some aggravation down the road.

    The full Neteller press release can be read on their site at http://www.neteller-group.com/press/en/130.htm

     

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