Industry News

Neteller Withdrawls from Canada

I know today was suppose to be the poker points final review and i’m sure you’re all dying to hear about that. But bigger news is on the front. Which, personally affects me and sucks like your aces getting cracked.

Neteller has withdrawn from Canada. Although, online gaming isn’t illegal in Canada it hasn’t been entirely passed as legal. So, to summarize, Neteller was scared of another UIEGA being passed and decided that instead of dealing with the repercussions that they’ll just pull out now.

So, now us online poker players are forced to use Click2pay, Moneybookers or the new shilly sites that may be popping up. Thanks Neteller.
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Press release is below for those of you who are interested.

Monday, 26 March 2007 – The NETELLER Plc Group (“NETELLER” or the “Group”) (LSE: NLR), the leading global independent online money transfer business, today announced several significant changes to its services in a number of markets.

The Group continually assesses the risk profile and status of the markets its serves. Recent actions by regulators, payment processors, and online gaming operators have increased the uncertainty around certain activities related to online gambling in some jurisdictions. The Board of Directors of the Company reached a decision, on 25 March 2007, that the risk to the Group’s ongoing business in Canada and Turkey has increased in the light of such developments. The Board has therefore concluded that the Group will no longer process transfers related to online gambling sites on behalf of Canada or Turkey resident customers.

Reduced Service to Canada

• Cessation of Canadian transfers to gambling merchants: the Group will cease processing online gambling related transactions for Canada-resident customers with effect from 12.01 AM MST Monday 9 April 2007.
• Suspension of InstaCASH transactions: As of today Monday 26 March 2007, at 12:01 AM MST, Canada-resident customers were no longer able to deposit funds using NETELLER’s instaCASH service either directly or from any online gambling site.
• Non-gambling services continue: Canada-resident customers will continue to be able to use their e-wallet accounts for non-gambling transactions, including peer-to-peer and pre-paid debit transactions.
• Available customer funds: Customer funds, including those of Canadian residents, are held in a pooled, segregated trust account and will be available for withdrawal by customers, on demand. Canadian customers continue to be able to use their e-wallet accounts for non-gambling transactions.