Neteller update

Neteller has released another update regarding US account holders and the situation remains basically the same: their funds are frozen for an unlimited period of time and the shares will be suspended.

The company stated that no interest on account balances will be paid. Neteller had frozen those accounts in January and since then a large number of people have experienced financial losses because they have not and will not receive monthly interest on the account, as Neteller has no access to the funds.

The company announced on March 21 that it would return the money to the US customers in 75 days, but that did not happen. Neteller stated that they will return the money, but the date of the event is unclear. Most likely it will not be returned until July 13th, when the US investigation is to be concluded.

The company said that they will make updates as the investigations move forward. Group president and CEO of Neteller, Ron Martin said that this agreement between the company and the US authorities is very important. He also stated that the company regrets it couldn’t return the money earlier, but he hopes that soon the date of the transactions will be clear.

The company has had problems with its investors as well, as it can't return their money. In this case the situation is more unclear because the company faces uncertainties. The US authorities have seized approximately $60 million from the company.

The US players have been advised by Neteller that

- They will be able to access their Neteller accounts in order to request their funds, but this will be the only available transaction opportunity.

- They won’t be charged any fees for these transactions.

- They will receive the money via electronic transaction or via cheque.

- They will be able to request only the full account sums, partial transactions won’t be made.

More information about this problem can be found at Neteller's official site.