"Neteller Ceases U.S. Payment Processing: Update on Alternative Fund Transfer Methods"
New Neteller development on 01/18/07: Neteller, one of the major 3rd party fund transfer services, has ceased doing business with U.S. customers due to factors related to their internal operations. This has led a few other payment processors, such as Citadel, to also stop processing payments for U.S. customers.
Withdrawals from Neteller will still be allowed for 2 weeks and all the major online poker rooms still have alternative methods for deposits and withdrawals.
Media reports on this issue have continued to dish out a lot of inaccurate information. However, the reality is that all the major poker rooms such as such as Full Tilt, PokerStars,
AbsolutePoker.com
, and Ultimate Bet, are continuing with business as usual and will be continuing to work on finding good and reliable transfer methods.
As of now, the two best services to use are ePassporte and Click2Pay (must have existing Click2Pay account)...and a new and very nice option at MyWebATM for use with Full Tilt Poker. Visa and Mastercard are also accepted, but may not be approved by your bank....you will have a better chance of it being approved if it's a debit card, U.S. based Visa and MC credit cards are almost always declined.
Ultimately, this is really just another transition period for the industry, as payment methods were the main target of the online gambling legislation. There may be some short term inconveniences for poker players, but once all the operational details of the legislation are hammered out, I suspect things will settle down and new transfer methods will likely arise.
When I think back to 2001 when Paypal and most major credit card companies stopped processing payments, there was widespread panic initially , but the industry just re-emerged stronger than ever. Here's a very interesting and very hopeful quote from a news item posted on Gambling911 on Jan 20:
"Sit tight, online gambling companies are working together to figure out ways to start processing once again using other methods. There is one master plan that could blow everybody's socks off but we've been asked not to comment on it, and we won't."
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Alternative Deposit Choices for U.S. Players: Major Online Poker Rooms
Full Tilt Poker ----> Go to Site
Quote from Full Tilt on Neteller announcement:
"NETeller's decision has no impact on our business here at Full Tilt Poker, and we remain committed to our U.S. players."
Suggested Payment Methods:
MyWebATM (New and most flexible option for U.S. Players as of Feb 3, 2007)
ePassporte (This is a Virtual Visa: Can fund with debit/credit card or bank draft)
Click2Pay (Only if you have an existing Click2Pay account)
Visa or Mastercard (Debit cards work sometimes, Credit cards are almost always declined)
PokerStars ----> Go to Site
Quote from PokerStars Regarding Safety of Funds:
"Your money is completely secure. All player funds are kept in a segregated account at a leading European bank. Regardless of any developments, your money is safe and accessible at any time."
Suggested Payment Methods:
ePassporte
Visa or Mastercard
Cashier's Check or Money Order
Moneygram (need to contact support for this option)
Absolute Poker ----> Go to Site
Quote from Absolute Poker:
"Absolute Poker is pleased to be able to still offer all our players many easy, safe and secure deposit and cashout methods. Countless Absolute Poker players trust these payment solutions on a daily basis and we are confident that you will find them just as easy to use."
Suggested Payment Methods:
ePassporte
Click2Pay (Only with existing Click2Pay account)
Visa or Mastercard
Ultimate Bet ----> Go to Site
Quote from Ultimate Bet:
"Recently, a number of payment service providers have decided to stop transactions for US customers. Please note this is NOT a problem with Ultimatebet or the service we will continue to provide you as a poker player. Your funds are 100% safe and secure at Ultimatebet and are held separately in a leading European financial institution. Any time you make a deposit, your funds are held specifically for you and are never mixed with operational funds."
Suggested Payment Methods:
ePassporte
Click2Pay
Visa or Mastercard