NETeller Equals NOteller as Payment Processor Changes Banks
What a gigantic mess! NETeller continues to struggle sending out payments after Barclays Bank drops the fledgling merchant. Online gambling companies continue to do business with NETeller outside the US market however and some are hoping that the firm's securing of a new bank in Sweden will help expedite US payments.
NETeller has provided no indication that they plan on sending funds to US clients. Several million dollars is owed to US customers for which the company claims just over $5 mil was seized by FBI agents. Two of NETeller's co-founders were indicted last month in the States. The company, however, has not been named in any complaint.
Merchant deposits will be processed through SEB Retail Sweden and they are only processing EUR and CAD deposits. GBP deposits will be available shortly, the company stated but US dollar accounts are nowhere to be mentioned.
US Customers Forbidden
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Christopher Costigan, Gambling911.com
Originally published February 10, 2007 9:25 am ET
