| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Neteller Will Return Funds To US Online Gambling Players
- Saturday, 7 Apr 2007
Following some weeks of uncertainty, Neteller has finally announced its plans to return funds to all of its American customers. Due to the Unlawful Internet Gambling Enforcement Act, the company - which is considered one of the biggest payment processing companies of the online gambling industry - issued last January policy changes that prevented US clients from transferring funds to and from online gambling websites. According to that resolution, US customers – including online gambling players of course - couldn't make peer-to-peer transfers, couldn't use their ATM card, and creation of new accounts for US customers was disabled. In addition, withdrawals by US customers by any other means, such as cheque, or bank transfer, were indefinitely delayed.
In an official press release, the company announced that it has signed an agreement with the Unites States Attorney's Office for the Southern District of New York (USAO), as well as Navigant Consulting, a consulting firm that will provide Neteller with operational consulting services. These two new partnerships will help Neteller in the process of redistributing the frozen funds of all its US customers – and online gambling players among them. Although the specific details of the plan will be released only in 75 days, online gambling fans in the US can certainly feel relieved.
"We continue to be committed to returning funds to our online gambling US customers and working with the USA's Attorney Office" said recently Neteller's CEO and President, Ron Martin. "Although it may not be reflected, we've been constantly progressing and we will continue to do so in the following weeks" added Martin. It may not be a return to the good old days of the online gambling industry, before the UIGEA kicked in, but it's definitely a step in that direction.
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