Another blow to Neteller: Debit Card cancelled

[Casinonews]

26.07.2007

Another blow to Neteller: Debit Card cancelled

Neteller PLC has cancelled the debit card for all Neteller users across the world. TOW reported that an email was sent out to merchants explaining "NETeller members worldwide will no longer be able to load their NETeller cards effective April 26 and use them to withdraw funds from ATMs as of May 2 2007.

"Due to the changes with NETeller card, the ability to transfer funds from a member account to the NETeller card has been restricted as of April 26, 2007 at 12 am (GMT) Members will no longer be able to load funds onto their card." NETeller customer service said in a note distributed Thursday.

"The ability to withdraw funds already on NETeller card at ATM machines and point-of-sales (POS) terminals will not be affected until May 2nd 2007. As of May 2nd, your NETeller debit card will no longer work." The note ends.

NETeller explained that "The third-party provider for the NETeller Card has very recently advised that under the rules relating to the Cirrus/Maestro Network, it can no longer support those branded cards."

NETeller non U.S. members can still withdraw funds via bank transfer and check. The peer to peer transfer option is also still available. The NETeller debit card was a major profit center for NETeller. Members were charged $2 for loading their cards and up to 3.8% for currency exchange where applicable."

Online-Casinos has also reported they have confirmed this to be fact with a Neteller representative. News for Neteller has not been kind over the last year and some sources have suggested it's only a matter of time before Neteller folds up shop. One offshore expert stated, "How can they even compete anymore? They went from being on top of the world to a company in complete dissaray. Most of this can be contributed to the UIGEA which was snuck in the Port Security bill and passed in to law in late 2006.

Early this morning US representative Barney Frank is expected to hold a news conference explaining his efforts to repeal the online gambling bill . Also many sports portals have joined forces trying to get online gamblers to sign a petition to support the repeal of the bill. Casino Gambling Web has stated they will hand deliver to petition to Barney Frank's office once 10,000 signatures has been obtained and the overall goal is 400,000 signatures. In a little over a couple of days the petition has generated almost 2,000 signatures and is picking up steam.

[Casinonews]

27.07.2007

NETELLER News:

content.neteller.com/content/en/member_businessupdate_netellercard.htm

NETELLER Member Update - The NETELLER Card

Did NETELLER stop allowing members to withdraw funds to their NETELLER Card?
Yes. Effective April 26, 2007, NETELLER members are no longer able to move funds from their NETELLER e-wallet to their NETELLER Card.

Why did NETELLER make this change?
The third-party provider for the NETELLER Card has very recently advised that under the rules relating to the Cirrus/Maestro Network, it can no longer support those branded cards, including the NETELLER Card.

Can I still use funds that are already on my NETELLER Card?
Yes. You can still use the funds that are already on your NETELLER Card until May 2, 2007.

What happens to the funds on my NETELLER Card if I don’t spend them by May 2, 2007?
If you do not spend all of the funds on your NETELLER Card by May 2, we will credit the remaining funds back to your NETELLER e-wallet. This process may take several business days, so we recommend that you try to use your funds by this date.

What other withdrawal options are available?
Depending on your country of residence, you will be able to make withdrawals by cheque, bank transfer or member wire. Please sign in to your account to see which withdrawal options are available to you.

Did NETELLER send an email to members that was intended for merchants?
Yes, NETELLER sent a merchant notification email to some of our members. We regret the inconvenience and misunderstanding.

Has my NETELLER Card service changed if I am from Canada?
Canadian members can still use their NETELLER Card, but only on the Interac network and only in Canada. You can no longer use your NETELLER Card on the Cirrus network or outside of Canada.

Who can I contact for assistance?
If your question has not be answered by this FAQ or if you require further assistance, please contact NETELLER Customer Service.

Last updated: 27 April 2007