NETeller Exits Canada, Turkey

Online payment firm NETeller said that it would no longer process transfers related to online gambling sites for Canadian or Turkish residents due to tightened regulations in the jurisdictions. The firm said in a statement, that the risk to its ongoing business in Canada and Turkey has increased in the light of the new laws, necessitating the move.

NETeller added that pulling out of Canada would have a "material negative impact" on its results for the full year ending 31 December 2007. Recent figures show that Canadian customers accounted for nearly 30 per cent of the revenues from its remaining, non-US operations.

Gambling911.com has been advising customers in other countries to exercise caution in using NETeller. 

It is not known if Canadians will soon get a taste of what US customers have been going through.  Several million dollars is owed to US customers of the third party payment solution, though they claim all monies will be paid in the next three months. 

A press release from the company read:

26 March, 2007: InstaCASH and Direct Accept transactions will be disabled for all Canadian members 26 March, 2007: All Turkish customer transfers to and from online gambling merchants will be automatically disabled 9 April, 2007: All Canadian customer transfers to and from online gambling merchants will be automatically disabled

Although NETELLER is disabling all gambling-related transactions for Turkish and Canadian members, we will continue to offer our members in these countries our other services, including P2P transfers and withdrawals with the NETELLER Card.


Please note that you are not required to take any action or make any changes to your site or API. We will automatically block all gambling-related transactions to and from members in these countries. This week, we will also be notifying our members in Turkey and Canada about these changes.

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Gambling911.com News Wire

Originally published March 26, 2007 9:56 am ET