When will American clients' begin seeking legal action to obtain Neteller funds?

[Highwayman]

At what point do American Neteller clients' begin taking legal action directed at obtaining their frozen assets currently held by Neteller?


More importantly, what is the legal process here i.e. what court (Isle of Man? UK?) would be petitioned?







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[The Major]

good post HM. I doubt it will be long before there is a class action against both neteller and the US government. The starting point would certainly be the Isle of man and Neteller plc. If I was owed large I would be starting the litigation right now.

[Highwayman]

Would think there are more than a few American attorneys, judges owed by Neteller…just wondering when one or a group will initiate legal action and what is the process they're required to follow?


Anyone?






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[alysheba88]

Hey this country has already legalized torture without charges or a trial. Legalized tapping of phones. Certain they have no problem with letting legalized theft occur either. Just think we may be cutting off funds of a terrorist. Saving lives

[The Actuary]

If the publicly held UK firms like Party did not sue over their billions lost,
no one will.


That like pokerjoes post claiming we will have to file claims with the FEDS to get our neteller money is borne of lunacy and desperation.


Where is the ACLU when you need them?

[The Major]

Good point TA. I guess the only difference might be the amounts lost. I would presume that people had more money in their NT accounts than their actual betting accounts. Thats just a guess though.

[The Actuary]

Really need the UK to join in with Antigua in the WTO dispute,
they have the trade muscle to force the US to comply,
I am starting to believe they do not care enough abt their industry to actually goto the mat for it.

[Highwayman]

FWIW:

Neteller is authorised and regulated by the FSA (Financial Services Authority) per Safety & Regulation section of their website which includes a direct web-link to the FSA.

NETELLER (UK) Ltd (a wholly-owned subsidiary of the NETELLER Group) is authorised and regulated by the Financial Services Authority in the United Kingdom as an e-money issuer (FSA Register Number: 229737; UK VAT GB 002 4257 28)


Consumer actions regarding filing a complaint with the FSA:


Do you have a complaint?

A problem may not be anyone’s fault. For example, you may invest in a product that doesn’t grow as fast as you’d hoped. The fact that investments grow at unpredictable rates, and can fall as well as rise in value, is not usually a valid reason for a complaint. Unless, that is, you weren't warned about these risks.

Other cases when a financial product or service may have turned out badly because the firm you dealt with did something wrong include:

• you’ve been charged unexpected or excessive charges;
• you’ve lost money because of the firm’s slow administration;
• there’s a dispute over who’s at fault if money is stolen from an account;
• you were given incorrect or misleading information about a product;
• the firm didn’t draw attention to a particularly strict condition in the contract;
• the firm hasn’t done what you asked them to do; or
• you haven’t been given enough notice about changes to a contract.
Whatever the reason for your complaint, you’ll want to get matters put right. The next step will help you make your complaint.

Making a complaint – Step 2 of 2 – Take action

Making a complaint

First, contact the firm with details of your complaint. You can do this over the telephone or in person.

If you do this:
• State your case clearly.
• Be firm but remain polite.
• Make a note of the date of the conversation, the name of the person you talked to and the main points you made.
• Write a follow–up letter to confirm what was said or agreed.
But it’s often better to make a complaint in writing and here are some tips:
• Keep your letter simple and make sure it includes all the essential information.
• Write ‘Complaint’ at the top of your letter.
• Type the letter if possible, or write clearly in black or blue ink – in case it needs to be photocopied.
• Include any reference numbers – for example for the product you bought, the account you hold, or a customer reference.
• State your case clearly, and include relevant dates. Put the facts down in a sensible order. Avoid unnecessary detail and repetition. Be firm but polite.
• Send copies of documents – if these are relevant – but always keep the original documents.
• Every time you write, keep a copy of your own letter for reference.
• You may want to send the letter by recorded delivery.


If you’re not happy with the firm’s response, you can generally take your complaint to the relevant free independent complaints scheme. In most cases, this will be the Financial Ombudsman Service (FOS) but some types of firms belong to other schemes. The firm should tell you which scheme it belongs to.

Alternatively you can go to court, but bear in mind that this could be expensive.

If the firm you want to complain to has gone out of business – visit the Financial Services Compensation Scheme (FSCS) website – see Get more help.


Related matters

As the regulator, we don't generally investigate individual consumer's circumstances or complaints and we don't pay redress. However, we do consider the fairness of financial advertising and unfair contract terms.
So, if your complaint concerns one of these areas, you should still complain to the firm for purposes of redress, but you may also wish to bring the issue to our attention, since we may then be able to help avoid similar problems arising for other consumers.

For more information on what we do in these areas, see the Financial advertising and Unfair contract terms sections of this site.

For more information about making a complaint, you can download or order our FSA guide to making a complaint about financial services from Publications.








There were NO NETeller COMPLAINTS found to be currently listed on the FSA site.










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[hockeystl]

Originally Posted by Highwayman

There were NO NETeller COMPLAINTS found to be currently listed on the FSA site.

Keep us posted on the status of your complaint

[marc]

I know for myself I considered filing a complaint, but then I looked at the complaint procedure. Before you can file a complaint with FSa, you hvae to file an offial complaint with Neteller. You then have to give neteller 8 weeks to respond. Then if you don't like the response you can file a complaint.

Another poster had stated that FSA won't help with compnaies located in the Isle of Man. I wrote a letter of complaint to the ISle of Mna today, but I doubt they will respond. They have the same stupid policy of requiring that one give the compnay iin question 8 weeks to respond.

What a lot of people are forgetting is that it's not just US residents who are getting paid, none of the merchants are getting paid either. This is far more than just not being able to sent of EFt or checks in dollars. Neteller seems to be short on cash. More than likley the only reason why Non_us cusotmers are getting paid is that thier requests are relativley low. But my guess is if everyone tried to pull out, neteller would file for bankruptcy.

[Highwayman]

The FSA appears to be a hoax!


Based on the following:

The FSA is an independent non-governmental body, set up under the Financial Services and Markets Act 2000 (FSMA)...role is to regulate the financial services industry of the UK.
• maintaining confidence in the UK financial system;
• promoting public understanding of the financial system;
• securing the appropriate degree of protection for consumers; and
• helping to reduce financial crime.

The FSA is funded by the industry, not the taxpayer.

Does NOT investigate individual (consumer) complaints while merely providing guidance in issuing complaints directly to regulated firms.

The FSA contact email page forwards all enquires under the 'reason' option except those selected as "Complaint against the FSA."





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[buddyboy]

sounds like the FSA is the equivalant of the BBB... worthless

[Highwayman]

The Isle of Man government gaming regulators will refer all inquires regarding NETeller to the FSA.

Trading of NETeller stock remains suspend along with American EFT’s since 1/16/07.

Continued freeze on assets held by NETeller will soon result in irreversible devistating consequences upon associated offshore gaming industry participants...including those non-American.


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[Myron]

strange that none of the uk books have stopped allowing neteller if they are no longer trading on the stock market

[drunkguy]

Originally Posted by Myron

strange that none of the uk books have stopped allowing neteller if they are no longer trading on the stock market

not trading doesn;t mean the operations shut down, you just can't buy/sell stock

[Highwayman]

Some more about the FSA:



The FSA does not regulate any part of the Neteller Group other than Neteller UK Ltd whose sole business activity is the issuance of electronic money.

Please note that we are unable to let consumers know about the action we take following our consideration of the information provided. This is because the Financial Services & Markets Act 2000, from which we have gained our powers, imposes certain restrictions on the FSA and requires us to keep our regulation of firms confidential.

We realise this can be frustrating but would reassure that all information is carefully considered before we decide what action, if any, we take.

If complaints are not resolved to satisfaction, Financial Ombudsman Service (the Ombudsman) may consider the case. The Ombudsman is an independent body set up to help consumers resolve disputes against financial firms. It is important to state that the Ombudsman will only consider complaints against Neteller UK Ltd and not any other part of the Neteller Group.




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[LinePlayer101]

Originally Posted by Highwayman

At what point do American Neteller clients' begin taking legal action directed at obtaining their frozen assets currently held by Neteller?

More importantly, what is the legal process here i.e. what court (Isle of Man? UK?) would be petitioned?

.

Well if netellers themselves currently have assets frozen by the FBI then what fucking good does it do to sue them? I think your anger is misdirected buddy. They can't get us our money because the Feds have put the clamps on them doing any business to the US and if they go against this they face further risks which in turn means we face further risks getting our money.

[LinePlayer101]

Originally Posted by The Actuary

Really need the UK to join in with Antigua in the WTO dispute,
they have the trade muscle to force the US to comply,
I am starting to believe they do not care enough abt their industry to actually goto the mat for it.

Oh yes, lot of good that WTO rulling had. The US gov doesn't give a flying fuck about the WTO or any other international body. Just ask the UN... If we can go to war despite an international ruling, do you really think we give a shit about some 2-bit trade organization telling us what we can or can't do?

[LinePlayer101]

Originally Posted by marc

I know for myself I considered filing a complaint, but then I looked at the complaint procedure. Before you can file a complaint with FSa, you hvae to file an offial complaint with Neteller. You then have to give neteller 8 weeks to respond. Then if you don't like the response you can file a complaint.

Another poster had stated that FSA won't help with compnaies located in the Isle of Man. I wrote a letter of complaint to the ISle of Mna today, but I doubt they will respond. They have the same stupid policy of requiring that one give the compnay iin question 8 weeks to respond.

What a lot of people are forgetting is that it's not just US residents who are getting paid, none of the merchants are getting paid either. This is far more than just not being able to sent of EFt or checks in dollars. Neteller seems to be short on cash. More than likley the only reason why Non_us cusotmers are getting paid is that thier requests are relativley low. But my guess is if everyone tried to pull out, neteller would file for bankruptcy.

Your last paragraph is laughable. I've not read any statements by any merchants claiming they have not been paid. Can you please cite an example or would you rather just make slanderous unfounded comments? Have you taken the time to read their public company reports? They are hardly short of cash. If anything they seem to have enough cash in their pockets to pay us all back several times over.

The issue is with their payment providers and the intemediaries they use refusing to do business with them or not being allowed to because of the Feds.

Anyway I'm just as pissed of as y'all as I have money tied up with them to, but some of these postings are just ridiculous.