NAB NETELLER POLICY CHANGE

Bill · 07-31-2002, 03:39 PM

We will no longer be covering deposit fees via Neteller. They are charging us 4% on these trasactions and that is just way to high for us to continue covering that fee on top of the bonuses we give out.

If you wish to make a deposit through Neteller you will be responsible for the 4% transaction fee. All other methods are the same as before.

We are getting charged not only 4% for the clients initial transaction to us but also the same 4% for every transaction there after. Its just to much to cover.

Good luck Bill

neilm · 07-31-2002, 03:45 PM

OW. Thats steep Bill.

Glad I got one in an hour under the wire.

I guess that will be my last Neteller into you guys. Securebuxx is cheaper to withdraw anyway ($7 vs. $15 and no $2500 cap) but the problem is getting money to Securebuxx. I hope they continue to add books, otherwise you guys will end up hurt by this.

sick gambler · 07-31-2002, 03:57 PM

Bill

There's one thing I don't understand here. I've been dealing with NETeller from practically day 1, so I'm a very big fan of theirs. I only use NETeller with books. I never hardly use bankwires, cashiers checks, or credit cards, because I am a lazy guy and hate going to the bank. But this is what I want to ask. I know that all books usually have the choice of 4% or a flat rate of 15 dollars. This is how it is with every book. Why doesn't the same thing apply for you here. Why are you stuck with the 4%? It's going to be really a drag for me now in the future dealing any other way because like I said, i've only used Neteller for the past 2 years. I don't know any other way. Of course I don't want to pay a nickel, just to with draw 12 dimes. There has to be a way we can do something regarding withdraws and deposits, and make them lower. I think you are going to lose a lot of customers, if NETeller charges you 4%, and people have to pay 4%. It's just weird because everyone else charges on 15 bucks. Why is it only you? Is this a new rule for everybody now that I don't know of. I know for me now, it's going to be tough to give you lots of action. Before, I would just send out 12k NETeller, and then gamble, collect, and so on. Now, if my funds go low, I have to get dressed in the middle of winter, go to my bank, tell my bank manager that I want to wire 10k to Newagebets. I really didn't want people knowing my business that I send this much money out to sportsbooks to gamble. I don't want my bank manager to think I'm a degenerate. Whereas, NETeller was the best, fastest and most discreet way, and great for the lazy ass like me. I hope you can work something out here.

Bill · 07-31-2002, 04:03 PM

SICK GAMBLER

As always a great post by you buddy. You can be our representative. I dont know why its us either but feel free to get us the $15 flat rate per transaction.

We would love that as well as you.

As far as losing the customers it really doesnt matter because we dont wat to give a 20% bonus. (15% plus 4%) We are doing away with the 15% bonus for football as well.

Good luck and have fun at the game

Bill

neilm · 07-31-2002, 04:05 PM

Sick as far as I know its now up to $30 on withdrawls but the 4% is on DEPOSITS.

neilm · 07-31-2002, 04:09 PM

From Neteller's website:

Merchants are billed for transfers both to and from their clients. Merchants are charged at the rate of 3.9% for all transfers in and 2%(to a maximum of $30.00) for all transfers out. Volume discounts will be considered.

sick gambler · 07-31-2002, 04:14 PM

Neilm

I'm not sure about that. If I'm not mistaken, Bill told me that it's 4% deposit, and 4% for withdrawal that we pay. I could be wrong.

Billy

Like I said, how come the rest of the world has it at 15 dollars, yet you can only get it at 4%. Did you get on David Kahane's bad side or something? I think he had it in for you from the beginning because in my long NETeller career, I would say that I have seen 46 books charge 15 dollars. 8 books are free for the player at all times. 4 books charging 20 dollars. And only 1 other book besides you guys charging 30 dollars for a NETeller fee. Why also has it been 30 dollars, when 95% of the world only charges 15 dollars. I think David has something against you. But in all seriousness, how come you guys don't get the choice of either 4%, or 15 dollars. Just doesn't make any sense.

Bill · 07-31-2002, 04:19 PM

I agree 100%. We love Neteller. Everthing about them is great. The service and the speed . The thing is the 4% is just to high for us.

Good luck Bill

Conrad · 07-31-2002, 04:22 PM

How low will Neteller set their transaction rates if you provide them with high volume.

Patrick McIrish · 07-31-2002, 04:27 PM

The guy that owns Neteller has less than 1000 posts here and wasn't eligible for the next NAB contest from what I heard. Pissed him off BIGTIME!

Paybacks are a bitch they say. LOL. [img]i/expressions/face-icon-small-happy.gif[/img]

siniful · 07-31-2002, 08:19 PM

Sick...why don't you just use Securebuxx at NAB?

Machiavelli · 07-31-2002, 08:38 PM

SG:

Perhaps the information that neilm was able to find on Neteller's website has not been updated since Neteller dropped transfer limits from $5000 to $2500. Thus, the current rate that the merchant's pay for transfers out is 2% to a maximum of $15.

Bill:

I am pleased to see that the 4% fee is clearly stated right next to the link for Neteller deposits. I usually don't have a real problem with fees as long as they are clearly disclosed, not buried in the rules section. As long as I know what the rules are ahead of time, usually I can find a way around them, in this case Securebuxx or book-to-book transfers. Nice job as usual.

stock boy · 07-31-2002, 09:50 PM

I just got off the phone with Neteller. David is "in a meeting" and I don't have enough time to get all the way down to Midnapore by 5 so I will swing by the office in the morning. I'll have an answer then. THanks.

Bill · 08-01-2002, 12:26 AM

Machiavelli

Thanks for the post. I dont like hiding things either. The fact is we simply cant pay 4% on top of our bonuses also. I think you will love Secure Buxx if your not already with them.

Good luck

Bill

cecil · 08-01-2002, 02:01 AM

I agree, good job by Bill and New age of making things clear and upfront instead of hiding it like some books do.

Conrad · 08-01-2002, 10:01 AM

Anyone know how low Neteller percentage will go with appropriate turnover?

rocketman · 08-01-2002, 11:39 AM

Did I read this right?
If I was to make a $2500 Neteller deposit I would be slugged $100?

rocketman · 08-01-2002, 11:42 AM

That question was not a criticism of NAB by the way, it is an inditement on Neteller if that is indeed the scenario.

Bill · 08-01-2002, 02:25 PM

Rocketman

Yes you read it correct.

$2500 deposit ( Their max) you get charged 3.9% which is $98.

The worst thing is its all the time. Repeat clients and all.

If you have an account with us and them and send us 10K they bang us $400.

The killer is if you send another 10k a week later we get banged the same $400 .

We both already have the accounts set up. How can that be. Anyway of course its their company and they can do what ever they want, and like I said besides the fees its an excellent company.

We just cant operate adding 4% on top of the 15% we already give.

We think Secure Buxx is offering the exact same service for a much better fee.

Good luck Bill