Neteller Business reviews 2004 - 2005

THE LEGAL status of internet gambling in the US is cloudy, to say the least. It is explicitly outlawed in many states, others are trying to regulate and tax it, but the Federal government is taking a prohibitionist stance. And yet the numbers of Americans, in common with people across the world, who are punting on sports betting sites or playing internet poker has been growing exponentially.

The traditional banks won't touch their money, though, and NETeller has grown into a significant business (and a stock market hot property) as a result of this opportunity. It operates an e- wallet, ferrying money between the gambler and the betting website and taking on the task of verifying users' identities and checking for credit card fraud. An average of 1,800 people signed up to NETeller last year, and it made pounds 45m from its cut of transactions. Of that, pounds 25m was pre-tax profit, indicating just what a licence to print money this business is. We tipped the stock after its flotation last April at 197p and it had shot up to 640.5p yesterday.

NETeller shares have attracted the attention of short-sellers, inevitably, and it did get one black mark yesterday, having paid more tax than expected in the months before it moved its operations to the Isle of Man tax haven. This is small and historic when you consider that profit is expected to double this year, but nervous investors will want to make sure the company is keeping control of administrative costs.

The opportunities continue to outweigh these risks for investors with a bit of gambling money available. NETeller Reviews has just made an acquisition of a payments company in the Far East that will allow it to expand into gambling-mad China, where its expertise in cross- currency transactions puts it ahead of the local banks.

Neteller Users Reviews

More Online Reviews

Few Samples:

Neteller ATM is worse than expected.
so I recently got a neteller ATM for convienience. I knew the fees were a bit high, but they ended up being WAY more than expected.

First you have to transfer FROM your neteller acct to your debit card $2.00

Then Neteller charges a fee to withdraw from your debit card $2.00

Then I found out I can't use my credit union ATM, it has to be one of those crappy star/pulse ATMs you find at gas stations, which also charges it's own fee $1.75

Then I find out the max I can get out is 200 at a time, so I have to make four MORE transactions to get out the 1k I wanted.
$1.75+$2.00
$1.75+$2.00
$1.75+$2.00
$1.75+$2.00

So all in all, to get 1k from neteller to my hand via the neteller ATM it cost me $20.75.

This doesnt even count the 5$ they are going to charge me if I don't use my card any given month.

I received it in 3 days.....I was charged $2 for this. The only drawback is obviously the charge....not much when coverted to the mighty pound....and the waiting time for the cheque and then the cheque clearing.

michal wrote:

If I get your third question right I assume that you want to cash in from your Neteller Reviews Inc. account and then out to another debit card that they support such as a visa card or something. Most sites wants you to cashout the same way you cashed in to prevent you from using them as a place to transfer funds. I don´t know about pokerroom though so it might work and I believe here has been a previous post about this actually.

Empire don't seem to mind me cashing in from neteller, playing a bit, then cashing out to my debit card. Perhaps it was because I still had amounts I had deposited from my credit card that they couldn't equal out because they can't cash out to my credit card, so it just went back to debit, but I don't think so.

I think based on the fact that I've played quite a lot of hands at Empire, they know they have my business most of the time so they are happy to accommodate this. Cashouts have been incredibly quick, as well.

Pokerroom don't like to do this, however. Deposit from neteller or click2pay, and it will go back to neteller. (The previous post you mention might have been mine).

FAQ

1) If I cash out of Ultimatebet into Neteller, does Neteller charge a fee for this service (or ultimatebet even)?

2) I'm planning to transfer the money then into Pokerroom. Therefore do Neteller or Pokerroom charge anything to transfer from Neteller to Pokerroom.

3) And finally, do Pokerroom charge a fee for transferring money from their Neteller account to my debit card.

Thanks! Just want to make sure I don't fall into the trap of unwanted expenses.

the answer to your question number one and two is no, it all works very neatly and at no cost for you. The transfer from neteller to a pokerroom is instant but the other way around might take a certain amount of time that the pokersite usually states when you do the cashout. UB says two working days but I´ve always got it within 12 hours.

If I get your third question right I assume that you want to cash in from your Neteller Reviews Inc. account and then out to another debit card that they support such as a visa card or something. Most sites wants you to cashout the same way you cashed in to prevent you from using them as a place to transfer funds. I don´t know about pokerroom though so it might work and I believe here has been a previous post about this actually.

I received it in 3 days.....I was charged $2 for this. The only drawback is obviously the charge....not much when coverted to the mighty pound....and the waiting time for the cheque and then the cheque clearing.