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| | | August 7 - Last week, Ron Martin, CEO of leading online payment processor,
Neteller posted a message on YouTube to inform the company's US customers about
their long-awaited refunds, as well as to spread some goodwill for the company
targeted by US authorities:
Here is the transcript in full:
'Hi, I'm Ron Martin, CEO of Neteller. I'd like to take this opportunity to say a
few things to our U.S. customers who have shown a lot of patience in relation to
the return of their funds.
As a global financial services business, the trust we build with our customers
is absolutely critical. You need to feel you can rely on our integrity and the
fact that we deliver what we promise.
Our customer service ethos, regulated status and public listing all contribute
to this trust. As a result, we've earned the confidence of millions of people in
over 160 countries to manage and move their money online.
Recently, the US Department of Justice stepped up investigations into the
legality of online gaming services provided to US customers. As a part of these
inquiries, they've issued subpoenas, laid charges, filed indictments against -
and in some cases settled with - a number of companies and individuals.
These include banks, payment processors as well as online gaming companies. Many
of these institutions are well-known and respected global brands, such as
ourselves.
Because of these actions, and due to the possible impact to our non-US business,
we voluntarily suspended our service to U.S. residents at the time. As we took
this action, U.S. financial institutions began declining transactions to and
from online gaming companies and payment processors.
The U.S. authorities also seized money, including that being sent from Neteller
to U.S. customers, and vice-versa.
Even though our service to the rest of the world customers is unaffected today,
since January we've been unable to return our U.S. customers' funds until we
reached a resolution of the investigation with the U.S. authorities. However I
can assure you it has always been our highest priority to get these funds back
to you.
We know that many of you have expressed concern over the length of time it's
taken us to reach this point, but as you may know, by now, we've reached a
resolution with U.S. authorities.
That means on July 30th we began the process to return funds. I'm sure you're
all relieved to hear this good news. All the details are provided on our Web
site. I'll provide a link at the end, but here are some of the key points of the
plan:
We started the processing of returning funds to U.S. customers on July 30th. On
the first day alone, we processed over $40 million in withdrawals. For those who
haven't requested funds yet, you'll have to sign in to your secure Neteller
account to request your withdrawal.
You'll need to complete this activity online within a 180-day time frame
indicated on our Web site. Your money will be delivered by electronic funds
transfer to your bank or by check that we'll mail to you.
We have a total of $94 million to return, to hundreds of thousands of US
customers in total, so it'll take a little time for all payments to be
processed. All withdrawal fees will be waived. It will be free to you.
Importantly, please beware of any phishing scams out there. Only log-in to the
Neteller.com Web site to request the return of your funds. Remember, it must
have the Neteller.com as the top level domain - nothing else.
I've read many of your e-mails, blog entries and Web site posts over the last
few months. I've also spoken to our staff and our contact center. I know that
for some of you, the lack of access to these funds has been very frustrating.
It's been difficult for our staff too. There's been little we've been able to
say as we've worked through the process. We're not accustomed to be unable to
give the customers the service they expect.
Clearly, the situation has strained the trust we've built over the years. For
that loss of trust, I'd like to apologize and thank you sincerely for your
patience. I'd also like to re-assure you again that we've been working very hard
to ensure the return of your funds.
It has been our highest priority.
Please visit
Neteller.com to find out more. Thank you again for your business,
your understanding and your continued trust in Neteller.'
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