GaF Posted March 22, 2008 Share Posted March 22, 2008 Must be of concern if you have funds with Neteller.... It wasn't just online poker rooms that suffered at the hands of the Unlawful Internet Gambling Enforcement Act (UIGEA) as online payment processor Neteller have reported a massive loss for 2007. They have reported a pre tax loss of $185.7 million for 2007, compared to a profit of $107 million in 2006. Their much publicized settlement of $136 million with the US Department of Justice and related costs of around $36 million was the main catalyst for this poor performance. Along with that, Neteller pulled out of the US market as did many online poker rooms, which cost them a reported $84 million in revenue. When they did, millions of dollars of US poker player's money was frozen and eventually returned after the settlement, but dealing a major blow to the companies credibility. Since then a number of rival processors have also gained momentum, such as Click2pay, Epassporte, Ecash and Moneybookers. Although most of which designed to give options to US customers, they are also available to the remainder of Neteller's client base too. Much like online poker rooms, Neteller have survived by focussing their attention on the ever expanding European and Asian market. European revenue was up 28% to $41.7 million and the Asian-Pacific revenue was up 44% to $11.4 million. Trading during the first two months of 2008 showed continued growth, and the final payment of $ 38.25 million was made to US authorities on 16 January 2008. Neteller are still clearly expanding despite this obstacle. The website has recently received a new look makeover and customers can now use a prepaid Neteller credit card for cash withdrawals and purchases. The speed of service also appears to have improved over the last twelve months and customers are noticing that their money is generally moving around a lot quicker. Ron Martin, CEO of Neteller, said: "2007 represented a milestone for the Group as we successfully resolved our issues with the US authorities, and energetically refocused the business to put into action our updated vision and mission. The renewal of the Group's businesses to leverage changed market opportunities has created energy and enthusiasm throughout the organisation. I am confident this will be reflected in our performance in 2008. I would like to thank all our employees for their contributions during a very challenging period in 2007 and I look forward to greater progress into 2008 and beyond." Quote Link to comment Share on other sites More sharing options...
The Quiet Man Posted April 7, 2008 Share Posted April 7, 2008 Re: Neteller Posts Massive Loss Withdrawal Fee Schedule The following is a list of current fees that are associated with the various types of withdrawals that NETELLER uses: Withdrawal Type Fee Time Bank Transfer $10.00 USD 3 - 5 business days Cheque Fee Regular Mail $10.00 USD Minimum 2 days These fees are listed in your base currency, and are subject to change without notice. Hmm......just went to make a withdrawal through a Bank Transfer and Neteller have shifted the fee from $1 or $2 (can't remember which) to a whopping $10. :eek The same applies for a cheque! Looks like they ARE in trouble! :unsure I've always used the Bank Transfer and didn't grudge Neteller the dollar or two! :) Anyone know which Poker Site is best for prompt Payment into your Bank Account (or a Maestro Card) and would I be saving any money?......the rate of exchange is shite at Neteller anyway. Cheers TQM Quote Link to comment Share on other sites More sharing options...
Burnley Joe Posted April 7, 2008 Share Posted April 7, 2008 Re: Neteller Posts Massive Loss VC has always been pretty quick for me mate, straight back to my debit card Quote Link to comment Share on other sites More sharing options...
ColU_FC Posted April 7, 2008 Share Posted April 7, 2008 Re: Neteller Posts Massive Loss TQM - see this thread: http://www.punterslounge.com/forum/showthread.php?t=47173&highlight=nationwide I only play on sites where I can deposit and withdraw with my debit card. BJ is right about VC, I play on Bet365 and Paddy Power, both of which are iPoker sites like VC. If I make a withdrawal in the evening of Day 1, it is in my bank account by the morning of Day 3. I also play on 32Red and Royal Vegas, both Microgamming sites, withdrawals are a lot slower here, they usually take 5-6 days to reach my bank account. Quote Link to comment Share on other sites More sharing options...
The Quiet Man Posted April 7, 2008 Share Posted April 7, 2008 Re: Neteller Posts Massive Loss Cheers for the info guys! :clap I don't really want The Quiet Lady to be seeing all my transactions so I'm probably going to try another e-wallet although the new account at Nationwide may be an option! :loon Anyone got any views on Click2pay, Epassporte, Ecash and Moneybookers? I haven't looked at any of the above but would like to hear any positives or negatives from folk that have used them.:ok Cheers TQM Quote Link to comment Share on other sites More sharing options...
dobbin Posted April 7, 2008 Share Posted April 7, 2008 Re: Neteller Posts Massive Loss Cheers for the info guys! :clap I don't really want The Quiet Lady to be seeing all my transactions so I'm probably going to try another e-wallet although the new account at Nationwide may be an option! :loon Anyone got any views on Click2pay, Epassporte, Ecash and Moneybookers? I haven't looked at any of the above but would like to hear any positives or negatives from folk that have used them.:ok Cheers TQM I use moneybookers for a while now and never had a problem,,Alot of poker sites are now doing special promotions if you use moneybookers now..There is a few poker sites that dont use moneybookers but overall I think they are a lot better than neteller... Quote Link to comment Share on other sites More sharing options...
GaF Posted April 7, 2008 Author Share Posted April 7, 2008 Re: Neteller Posts Massive Loss but overall I think they are a lot better than neteller... Can I ask why/how? (I've never used moneybookers, or even really looked at them) Quote Link to comment Share on other sites More sharing options...
AlunB Posted April 7, 2008 Share Posted April 7, 2008 Re: Neteller Posts Massive Loss Neteller made so much money during the good old US years they should be fine for a while. "We estimate the group will end 2008 with net cash of $98.7 million and believe the majority of the $33 million that will be received from the sale of its Calgary building, can be returned to shareholders, via either share buybacks or a special dividend or a combination of the two as we go through 2008," said Numis analyst Richard Carter. As to swift payouts. I've also found Ladbrokes, BlueSq, Party and PokerStars to be pretty rapid just based on personal experience. Although Party have started imposing small charges on debit card deposits.... I would have thought the payments were processed by the company rather than the network, so any of the UK bookies will be a good bet. The above mentioned are also very good also. 3-4 days max. Quote Link to comment Share on other sites More sharing options...
dobbin Posted April 7, 2008 Share Posted April 7, 2008 Re: Neteller Posts Massive Loss Can I ask why/how? (I've never used moneybookers' date=' or even really looked at them)[/quote'] For Me Just small things like 1.Answering emails in a rapid time 2.Speaking to people at moneybookers who speak good English and actually understand what your problem is without sending you to different people.. 3. Better Fee to withdraw money to your bank or card from monrybookers. Neteller $10 Fee For a Bank transfer or Credit Card transfer or Cheque MoneyBookers 1.8 euro for a bank transfer or Visa Card Moneybookers 3.5 euro for a cheque.. In General I feel my money is a lot safer in a company who isnt posting large losses and a company who losted over 50% of there business.In my option I dont see neteller lasting more longer as for moneybookers who I feel are on thr up as a company These are my options only Quote Link to comment Share on other sites More sharing options...
GaF Posted April 7, 2008 Author Share Posted April 7, 2008 Re: Neteller Posts Massive Loss The one thing I really dislike about Neteller is the extortionate exchange rates, and the inability to hold funds in multiple currencies (or have multiple accounts) - do Moneybookers solve this problem or are they the same? Quote Link to comment Share on other sites More sharing options...
dobbin Posted April 7, 2008 Share Posted April 7, 2008 Re: Neteller Posts Massive Loss The one thing I really dislike about Neteller is the extortionate exchange rates' date=' and the inability to hold funds in multiple currencies (or have multiple accounts) - do Moneybookers solve this problem or are they the same?[/quote'] Multiple accounts.. . Please note that you are strictly not allowed to hold more than one Moneybookers account. Exchange Rates. What exchange rates do you apply if I send money in another currency or to an account in another currency? For transactions involving a currency conversion, we use the daily reference rates as published by the European Central Bank. However, 1.75% will be added to the interbank rate wherever there is an exchange of currency. This is not a hidden charge but a protection against the volatility and risk associated with FX markets. http://www.ecb.int/stats/exchange/eurofxref/html/index.en.html Not 100% if this is better than neteller(cant find which exchange rates neteller use and what charge they add on top) Quote Link to comment Share on other sites More sharing options...
GaF Posted April 8, 2008 Author Share Posted April 8, 2008 Re: Neteller Posts Massive Loss Cheers mate - I'll ask Neteller exactly what their charges are later :ok Quote Link to comment Share on other sites More sharing options...
Norfolk Enchance Posted April 18, 2008 Share Posted April 18, 2008 Re: Neteller Posts Massive Loss I use both neteller and moneybookers. Like Alun said, neteller are fine. It was inevitable they would be posting big losses. I prefer neteller to mb but there's very little difference. On the subject of neteller fees - if you move enough money about you will become a VIP (think you are given this status when you have built up a certain amount of points but not sure). Once you get VIP status you get 100% rebate on withdrawal fees (so its basically free) and a discount on exchange rate charge (1.75% instead of 2.5%). Quote Link to comment Share on other sites More sharing options...
philossify Posted October 9, 2008 Share Posted October 9, 2008 Re: Neteller Posts Massive Loss Just withdrew from my Neteller account (GBP one) and feckin bstrds charge £5 for bank transfer - used to be £2. Anyone ever used one of their cash machine cards .... whats withdrawal like on them? Quote Link to comment Share on other sites More sharing options...
Banzai Posted October 10, 2008 Share Posted October 10, 2008 Re: Neteller Posts Massive Loss http://public.neteller.com/content/global/services_prepaid_card.htm Looks like £2 (after a £5 activation fee) so I guess cost effectiveness guess it depends if you plan to make lots of withdrawls. Quote Link to comment Share on other sites More sharing options...
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