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#1
09-07-2005, 11:53 AM
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Neteller EFT was declined
Hey guys.
I went to w/d 6k from Neteller the other day: due to the currency risk of $USD for Canadians.. It didn't work, saying that it was over my limit or whatever, so I called up Neteller to ask them what my limit was. They said $5k, but that you can make as many individual w/d's in a day as you want: (i.e. no daily limit, but only a per-transaction limit). The $1k transaction went through, but not the $5k. Alright, so I make two w/d's, the first for $5k and the second for $1k. That appears to work. In the morming, I wake up, and it hasn't gone through: it's been declined. I call them again. The representative tells me that $5000 sometimes works and sometimes doesn't, but that $4900 should work... Oy! Alright, so I did $4999, and we'll see what happens. I THINK what may be happening here is that when it converted the USD to CDN it came to over 5k and declined as a result. [img]/images/graemlins/frown.gif[/img] We'll see what happens on this one. Has anyone else had their EFT withdrawls declined? What's been the reason? I'm a little weired out by the whole situation. I'm only 24 years old and this represents like A LOT of my net worth, so I'm a little nervous... 
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#3
09-07-2005, 12:21 PM
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Re: Neteller EFT was declined
I don't know... I could have done 10x $500 too, but I didn't.
They told me the limit, and that's what I did. [img]/images/graemlins/smile.gif[/img] --Dave. I'm more interested here in hearing about anyone else's experience with declined eft w/d's and the reasons behind them.
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#5
09-07-2005, 12:35 PM
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Re: Neteller EFT was declined
I've been out of the loop for a bit. May I ask what the "currency risk" for Canadians is?
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#7
09-07-2005, 12:46 PM
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Re: Neteller EFT was declined
[ QUOTE ]
[ QUOTE ] The representative tells me that $5000 sometimes works and sometimes doesn't, but that $4900 should work... [/ QUOTE ] Wow....high quality service right there. [/ QUOTE ] Well, checking my in-box... [ QUOTE ] Dear Client, Due to some recent NETeller site up-grades, your eft was declined as it was over the CDN limit of $5,000.00. Since your NETeller account is in USD, but it will be converted to CDN, your request needs to be $3,750.00 or less, but keep in mind, you can make more than one eft withdrawal request. Thanks again for your time, and patience, CHEERS! [/ QUOTE ]
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#8
09-07-2005, 12:48 PM
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Re: Neteller EFT was declined
[ QUOTE ]
I've been out of the loop for a bit. May I ask what the "currency risk" for Canadians is? [/ QUOTE ] Well, recently the cdn has been rising relative to the usd. I'm not sure why, because I'm not much of an economist. [img]/images/graemlins/smile.gif[/img] However, it appears that the trend has reversed a little as the Bank of Canada increased its lending rate. So... I'm not sure what the hell's going on. What I DO know, is that I want to buy a car in the near future (max 4 months) and I don't want to expose myself personally to currency fluctuation risk.
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#10
09-07-2005, 12:58 PM
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Re: Neteller EFT was declined
[ QUOTE ]
You know you could save neteller's 1.9% fee by depositing to the Party skins and withdrawing to your bank account from there. That's a hefty chunk of change at $6000. [/ QUOTE ] Since when is there a 1.9% charge to w/d???? I haven't done an EFT for deposit in quite sometime but don't recall a charge for that either unless it was instacash.
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