Be careful of NETeller and other e-Wallet online casino banking options.
Rating:  by: gimbosorus, on July 17, 2009
Pros: Overall good banking option.
Cons: They screwed me when they got into problems with the US.
When you play at online casinos allot the common though is that e-Wallet banking options like NETeller and others make your life easier. Well you're absolutely correct about this, however there are other sides and issues that you must consider that could lead you into potential issues such as I had with NETeller.
The problem with online banking options like NETeller is that although they strive to be legitimate online banking institutions they're still a step apart from traditional banks and financial institutions. They are regulated and fall under the scrutiny of regulatory bodies but when push comes to shove they're going to bend over and really take it when things get tough.
After the passing of the UIGEA NETeller and a few of their top level executives took a big hit so much so that 2 of them were arrested and held in the United States. Well here's where things get interesting after they were arrested they told the us DoJ that they'd no longer accept and or take wagers from US players which they did very promptly by rejecting access to making deposits and withdrawing funds from online casino sites and all other gambling related sites online. The unfortunate side to all this is that during this time the US gov't seized millions and millions of dollars from NETeller and who got screwed but those who maintained a large amount of money in their NETeller accounts such as myself. It's a real pisser and the worst of it all is that there's nothing you can do about it. Although it's not really NETeller's fault you figure that they would have insurance or something like this that would allow players like myself to get their money that was in their account back. It NETeller is an online bank shouldn't it be trusted in the same way... Well I don't personally think so and I avoid these online banking options now at all costs and when I want to play at online casinos the only way that I'll deposit and request withdrawals from them is depositing via credit cards and receiving payments back via Check or direct deposit into my bank account.
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