NETeller announced that it has agreed a plan with the US Government to distribute millions of dollars belonging to American customers. NETeller has publicly declared to return all money’s owed to United States customers as conformed in the agreement. It was conformed that US customers can now obtain their NETeller money account online in a definite time only and they can get a request of their money.
The company said that, in accordance with its terms of use, no interest on account balances will be paid but that it would also not charge fees for processing these requests. Funds will be distributed either by electronic transfer to the bank account on record with NETeller or by a check to be sent to a mailing address as confirmed by the customer. If an American customer has a bank account already registered with NETeller, funds will be transferred electronically subject to a confirmation by the customer that the registered bank account remains valid.
The release of funds also stated that funds will be distributed by electronic transfer in their bank accounts or by checks that will be sent to their mailing address. If a US customer has a bank account already registered with NETeller, their funds will be transferred electronically but to be confirmed the client if the bank account is not expired.
NETeller also stated that US customers would receive the entire balance of funds in their account with no requests for partial payments processed and that they would not be able to use their accounts for any transaction other than to request their funds.
US customers will receive the whole funds in their account; there will be no requests for partial payments. US customers cannot use that account for any transactions other than to request for their money. “The agreement on the distribution plan represents a milestone in our cooperation with US authorities,” said Ron Martin, President and CEO of NETeller.
This arrangement to bring back the funds to our US clients corresponds to another step in cooperating with the US government, stated by Mr. Ron Martin. “While we are disappointed not to have been able to return funds to our US customers at this point, we believe that the steps we have made in our discussions are significant and we hope to be able to announce further progress with the United States Attorney’s Office by July 13, 2007.”
NETeller stated that while we are saddened by not being able to return the funds to our clients at this time, we know that the exchange of view points we will have with the US Attorneys Office by July will make a progress as to what the next move is.
June 11, 2007, 6:40 pm (4 years ago)
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