Published on March 23rd, 2007 8:48 pm EST

After months and months of seemingly bad news, US Neteller account holders finally saw a ray of sunshine, and it now appears certain that they will all get their money back.

Neteller has signed an agreement with US authorities for the transfer of funds back to US customers. The company has said that it hopes the process is completed within 75 days.

I wouldn't count on your money being returned within these 75 days; I would count on a framework being agreed upon within these 75 days, and then I believe the transfer of funds will begin shortly thereafter.

All of the funds are accounted for; it is just that Neteller has no way of dispersing funds to US residents right now. They can't issue paper checks, they can't initiate wire transfers, and they can't use instant cashouts, because the Department of Justice won't allow US banks to process these transactions.

However, with an agreement being signed, the funds will be able to flow through US banks and US Neteller customers will soon have their funds.

Finally some good news for Neteller account holders.


Filed Under: UIGEA

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