Neteller Issue

[ripwalk]

So I've done a couple insta cash deposits to my Neteller account, and I've noticed that the money isn't taking away from my bank account instantly, as it seems to take a couple days to process.

My question is, what happens if I don't have sufficient money in my bank account to cover the deposit at the time that the trasnfer is processed and Neteller goes to take the money out?

I would assume they would just cancel it, and take the money from your Neteller account, but what would happen since I've already deposited it on a poker site?

[kmprsdrm]

It's like writing a bad check. The bank usually will honor it, put a negative balance on your account and begin tacking on all of their fees. Not a good idea.

[Ro-me-ro]

If you don't have sufficient funds then your bank will charge you a fee. Then NETeller will charge you a fee and place your account on hold. They will then contact you to arrange collections. If you don't pay up then your credit rating will be adversely affected.

It's all in the terms and conditions of your bank, and NETeller for details on the exact procedure and fees.

Regards,

Rom.

P.S. Yes it's not a particularly good plan. The reason the funds dont leave your account straight away is because it takes some time for the request from NETeller to reach your bank account

[GrannyMae]

[ QUOTE ]
It's like writing a bad check. The bank usually will honor it, put a negative balance on your account and begin tacking on all of their fees. Not a good idea.

[/ QUOTE ]

and NETeller will put him on a deadbeat list with every poker site. that's because it will be charged back to NETeller. his bank won't eat a dime, but they will collect fees as you say.

he will never again be able to open an account in his real name at any legit site.

[ripwalk]

So basically you are saying I should deposit money into my bank account ASAP to avoid this?

It won't really be too much of a problem if it takes me a day or so, will it?

[ripwalk]

[ QUOTE ]
[ QUOTE ]

and NETeller will put him on a deadbeat list with every poker site. that's because it will be charged back to NETeller. his bank won't eat a dime, but they will collect fees as you say.

he will never again be able to open an account in his real name at any legit site.

[/ QUOTE ]

Seriously?

[Ro-me-ro]

Get your money in there ASAP, and hope that it makes it in time. If not you are gonna get hit hard in fees. NSF charge from your bank and a NSF charge from NETeller.

If you don't get the funds in there in time, read up on the procedure at NETeller -- they may have a policy of automatically trying to take the funds from your bank account again after so many days (FirePay does) and this may cause additional fees at your bank. Basically contact NETeller and arrange something with them asap and you will be fine,

Rom

[ripwalk]

Got my money today, and I believe it was in time, as I still had money left in my bank account.

Phew, I made it.

[Ro-me-ro]

Fingers crossed for ya,

Rom

[boscoboy]

you should probably be looking into a JOB instead of online poker - playing with money you don't have is no way to establish yourself as a legitimate player(ie you will play scared and you will lose)

[ripwalk]

[ QUOTE ]
you should probably be looking into a JOB instead of online poker - playing with money you don't have is no way to establish yourself as a legitimate player(ie you will play scared and you will lose)

[/ QUOTE ]

I have a full time JOB. Monday-Friday, 8-4. I just don't get paid until Wednesday.

Once I get paid I will have plenty of cash.

It is most definitely money I can afford to loose. Thanks for your concern though.

[Guthrie]

So let's review. You essentially write a hot check to Neteller. You transfer money you don't have from Neteller to a poker site. You assume you'll get your paycheck on time. You assume you will be able to get to the bank to deposit your paycheck in time. You assume that your bank will give you immediate credit on that paycheck. You assume that this will give you sufficient funds to cover the Neteller transfer before it hits your bank. Yeah, you're definitely playing with money you can afford to lose.

[ripwalk]

[ QUOTE ]
So let's review. You essentially write a hot check to Neteller. You transfer money you don't have from Neteller to a poker site. You assume you'll get your paycheck on time. You assume you will be able to get to the bank to deposit your paycheck in time. You assume that your bank will give you immediate credit on that paycheck. You assume that this will give you sufficient funds to cover the Neteller transfer before it hits your bank. Yeah, you're definitely playing with money you can afford to lose.

[/ QUOTE ]

Nope.

At the time of my deposit, I had more than enough money in my bank account. However, I was under the impression that the money was taken from my bank account right away, so I checked my bank account balance after I had made the Neteller deposit, and pretty much thought, "Alright, it took the cash from my account, and I still have enough money in this account". So I didn't really give much thought to conserving money, because I thought my "debt" had been paid off, and the money already taken from my bank account.

Following that, I had an expensive road trip where I spent a lot of money on gas, and only after that, I found out that Neteller doesn't take the money out of your account for a few days, so my bank balance wasn't reflecting the deposit I made. With fees and everything, I wasn't certain if the money left in that bank account would be enough to cover all the costs, so...

I immediately went and put the extra money in my bank account to cover it.

Please don't tell me what money I can and cannot afford to lose. Considering you have no idea of myself and my financials, you really have no grounds for argument.

Now that I know how Neteller works with these deposits, I won't have anymore issues.