[Poker4eveR]

Just got an email from Ub that you can't use instacash anymore at Neteller. The online poker squeeze is on.

[TheMightyJim2k]

you can still deposit through neteller normally you just have to wait a couple of days for the process.

Bodog did this yesterday, and I would expect a lot of sites to do the same within the next week/

This is probably a good thing, because if you shut off your account's instacash feature in neteller your account is almost 100% safe from being hacked. If someone gets in and tries to withdraw your funds you will be notified by email and can lock it down before it ever reaches their account.

I don't think this is really too big a of a blow to the industry, especially since many poker sites have already begun recommending other ewallets since they are anticipating Neteller leaving the business.

I plan on trying out either epassporte or click2pay within the next week to see how well they work. When I do I'll post a thread with my experience on here.

[Poker4eveR]

Originally Posted by TheMightyJim2k

you can still deposit through neteller normally you just have to wait a couple of days for the process.

Bodog did this yesterday, and I would expect a lot of sites to do the same within the next week/

This is probably a good thing, because if you shut off your account's instacash feature in neteller your account is almost 100% safe from being hacked. If someone gets in and tries to withdraw your funds you will be notified by email and can lock it down before it ever reaches their account.

I don't think this is really too big a of a blow to the industry, especially since many poker sites have already begun recommending other ewallets since they are anticipating Neteller leaving the business.

I plan on trying out either epassporte or click2pay within the next week to see how well they work. When I do I'll post a thread with my experience on here.

That is true you can still make deposits. Little by little the squeeze is on. Less sites for American players and less ways to deposit money which fuels online poker. All of this means a lot tougher games. I just signed up at Click2Pay and waiting for the deposit to activate. To take advantage of all sites you will also need an epassporte account. For me, I have card rooms in town so I could care less. I gambled before online poker and I will gamble after it.

[hachkc]

I actually removed the InstaCash option from my account last week with all the hubbub going with Neteller and such.

[hachkc]

Originally Posted by Poker4eveR

I gambled before online poker and I will gamble after it.

Online is just soooooo much easier though. Last night, I sat down for like an 90mins and played. The local casino for me is about a 90min roundtrip not to mention a decent wait most evenings.

[Colquhoun]

Originally Posted by TheMightyJim2k

....especially since many poker sites have already begun recommending other ewallets since they are anticipating Neteller leaving the business.

If they are truly getting out of the business, then I would recommend getting your cash out of there NOW. Not to create a scare, but just like a bank, if everybody tries to cash out, there wont be enough liquid for them to pay everybody. Or am I just paranoid?

[littlebu]

Originally Posted by Colquhoun

If they are truly getting out of the business, then I would recommend getting your cash out of there NOW. Not to create a scare, but just like a bank, if everybody tries to cash out, there wont be enough liquid for them to pay everybody. Or am I just paranoid?

With everything going on I transfered all the funds from my Netteller account to P*'s earlier today. I am going to open an epassport account. When I went to deposit into P*'s it also showed a message that the instacash option was no longer available there.

[TheMightyJim2k]

Colquhoun - you are being paranoid. Neteller is not holding much cash, they are a pipeline between businesses and customers. If you withdraw from P*s to Neteller then P*s will send the money to Neteller, and they will then send it to you.

If you leave money on your Neteller account then they deposit it in a bank and hold it for you. They make their money off of transaction fees, so it isn't going anywhere. If everyone in the US withdrew from Neteller today I am sure they could cover it all (albeit the transaction times would greatly lengthen due to the overwhelming demand) and would make an absolute killing from all of the transactions fees.

And you are paranoid about the banks. If everyone went and withdrew their money from the bank it would take them a period of time to process all of the transactions, but they would get all of the money back, it is federally regulated.

[sunderB]

Originally Posted by hachkc

Online is just soooooo much easier though. Last night, I sat down for like an 90mins and played. The local casino for me is about a 90min roundtrip not to mention a decent wait most evenings.

So did I, and I did it in my underwear! The convenience is the thing I enjoy the most.

[Wedge Rock]

Originally Posted by TheMightyJim2k

And you are paranoid about the banks. If everyone went and withdrew their money from the bank it would take them a period of time to process all of the transactions, but they would get all of the money back, it is federally regulated.

I doubt NT uses US regulated banks to hold your money...that's the reason that they are in the Isle of Man, to avoid/circumvent US laws/regulation.

I'm not saying you're wrong about the paranoia... but I think its a good thing to get your money while you know you can...given the recent arrests and the NT's security issues.