NETeller Yahoo Board Gains Steam While Customers Brought to Cleaners
Most of those joining the new NETeller Yahoo board are owed a hefty sum of money, a few six figure amounts in fact. Thus far, there are 40 members in only seven days since the board debuted (courtesy of another individual owed money by NETeller). The site is aptly called NETeller Sucks.
And it is not just US customers affected by the NETeller debacle that began following the arrests of two founders in the company this past January. Now European customers are complaining that they are being forced to pay a 1.9% conversion fee to have their money changed from US dollars to another currency. We should point out that NETeller European customers are discovering this issue without any type of notification.
"I have a US dollars neteller account that I opened about three years ago," one angry NETeller customer conveyed to Gambling911.com. "Neteller has sent me funds numerous times from my account. Neteller has never before charged me a 1.9% conversion fee or sent me anything other than US dollars. I was told by the people at Neteller no US dollars can be sent to me. The only way I can get my money is to have a different currency sent to me and I HAVE to pay the 1.9% conversion fee."
NETeller Vice President of Communications, Andrew Gilchrist, hasn't exactly been doing the best job of communication. His employees are however and they have been watching Gilchrist's every move on behalf of Gambling911.com.
NETeller officials have released a statement that the US Department of Justice has seized funds totaling US$55 million.
As a result of the restrictions placed by third parties, court-ordered seizures, and related legal concerns, the Group is currently unable to make payments to US customers. Nevertheless, the Group is in discussions with the USAO to manage an orderly return of funds to US customers. As part of these discussions, it is contemplated that the USAO will engage a forensic accounting firm, at the Group’s expense, to assist in this process and to examine the Group’s financial position. “The return of funds to our US customers is a top priority for NETELLER” said Ron Martin, Group President and CEO. US customers wishing to withdraw funds from their NETELLER e-wallet accounts will experience ongoing delays while these discussions continue, and a further update will be provided by the Group once effective repayment mechanisms are determined.
Some of the pieces of the puzzle simply do not fit.
NETeller has told its US customers they can continue using monies in their account for non-gaming related transactions, for which NETeller had very few.
One non-gaming related website began accepting NETeller this week - BabyKGB.com Affected customers were hopeful they could use their NETeller funds to purchase non-gaming related items online then potentially sell these items on eBay or elsewhere to redeem cash.
Another site is online coffee store donveitia.com
Alas, those who have tried to make purchases don't seem to be having much luck. In the meantime, affected NETeller customers are bound to keep getting more and more angry as little info comes their way from the company itself.
----
Christopher Costigan, Gambling911.com
Originally published March 6, 2007 5:46 pm ET
