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NETeller smoothly processing U.S. withdrawals

1 August 2007

NETeller unlocked it U.S. accounts Monday and has begun processing withdrawal requests. American customers have until Jan. 26, 2008 to withdraw their funds, and only complete withdrawal requests are being honored. The accounts can not be used for any other purpose.

So far, the process appears to be moving smoothly. Casino City submitted its withdrawal request on Monday and funds were transferred to its bank account that same day. Other gaming affiliates are reporting similar successes.

NETeller froze American accounts and exited the U.S. market in January following the arrests of its two co-founders, Jim LeFebvre and Stephen Lawrence. Both LeFebvre and Lawrence have pleaded guilty to conspiracy charges.

The popular payment processor reached a deal last month with the Department of Justice that will allow it to avoid prosecution if it pays $136 million to the U.S. government, admits criminal wrongdoing in the processing of online gambling proceeds and implements procedures to prevent Americans from using its service.

NETeller, which stopped accepting Canadian transactions in April, has seen its revenue fall 54% since its exit from North America.

NETeller smoothly processing U.S. withdrawals is republished from Online.CasinoCity.com.
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Best of Vin Narayanan
Vin Narayanan

Vin Narayanan is the managing editor at Casino City. When he's not writing or editing stories, he likes to play Chinese Poker, Badugi, Razz and any other "non-traditional" poker game. He also thinks blackjack is his best game and loves game theory.

Before joining Casino City, Vin covered (not all at the same time) sports, politics and elections, wars, technology, celebrities and the Census for USATODAY.com, USA WEEKEND and CNN.

A proud graduate of Michigan State University, Vin can be found on most nights and weekends trying to find a way to watch the Spartans play football or basketball.

Vin Narayanan
Vin Narayanan is the managing editor at Casino City. When he's not writing or editing stories, he likes to play Chinese Poker, Badugi, Razz and any other "non-traditional" poker game. He also thinks blackjack is his best game and loves game theory.

Before joining Casino City, Vin covered (not all at the same time) sports, politics and elections, wars, technology, celebrities and the Census for USATODAY.com, USA WEEKEND and CNN.

A proud graduate of Michigan State University, Vin can be found on most nights and weekends trying to find a way to watch the Spartans play football or basketball.