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| | | February 5 - Following the arrests of two founders and former directors of
Neteller, in the United States a few weeks ago, executives at the online payment
processor are currently working with the US Justice Department to figure out a
way of getting money back to American customers.
Following the arrests and subsequent disassociation of Neteller by all of its US
banking partners, existing American Neteller have had no way of getting their
out of Neteller.
Since Neteller cannot process withdrawals from US-based customer, nor will US
banks accept EFTs from American-held Neteller accounts, millions of dollars is
literally in financial 'limbo'.
While there have been reports of several non-American Neteller customers
accepting peer to peer transfers from American clients and then withdrawing the
money on their behalf, it appears that Neteller has put a halt to these
transactions and is even 'blocking' the accounts of these 'helpful' non-American
customers.
It has been reported that all Neteller American monies is sitting in an escrow
account at a British bank, although Neteller has not denied nor confirmed this.
What is clear though, is that neither Neteller nor the US Department of Justice
wish to appear to be holding American money 'hostage'.
For this reason, both sides are looking for a solution to the problem, so that
Neteller can get back to business without an American 'yoke around its neck and
the US Department of Justice can bring the money back into the American economy.
Watch this space.
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