What happens if someone hacks into your online bank...

[okayplayer]

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what kind of "bank" are you talking about?

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neteller

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Why would anyone keep money in Neteller?

[Niediam]

An online entity who offers the service of transferring money between client accounts and other online entities.

[mackthefork]

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I believe that US laws (covering US banks only) puts the burden on the bank. The costumer is liable only for a very small amt. Don't know what other countries do.

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If the bank went broke you would get 90% upto 30k max of your money back from each account. In case of fraud most mainstream banks would see you right, I really wouldn't keep more than is absolutely necessary in Neteller if I was you. (UK)

Mack

[TylerD]

Neteller is based in the UK and is floated on the stock exchange, they probably have to follow UK laws so your money is probably reasonably safe.


<----- Talking out of his arse.

In the U.S., it would probably depend on whether the bank classifies you as a business customer or a consumer. If you are classified as a consumer, you have some protection. If you are classified as a business customer, watch out:

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In April 2004, moments after logging on to his online account at work, Lopez spotted an entry revealing that someone had executed an electronic transfer of $90,348.65 to Parex Bank in Riga, Latvia. Lopez knew no one in Latvia. "I thought I was going to vomit," he recalls.

The next day, according to bank records, a mysterious figure named Yanson Arnold withdrew $20,000 in cash from Parex Bank, leaving $70,348.65 behind. Arnold has not been heard from since.

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Bank of America disavowed responsibility, prompting Lopez to sue the bank in federal court in Miami to get his money back.

"We fully investigated his claims and determined that all of our internal protocols and security measures were in place," says Shirley Norton, a Bank of America spokeswoman.

In its defense, the bank has invoked an obscure section of the Uniform Commercial Code, state laws governing commercial contracts, which banks helped draft. It limits liability in delivering online services to businesses if certain safeguards are in effect.


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http://www.borderlandnews.com/apps/p...511140334/1003

I called my online broker (where I keep most of my money) and they assured me that no money can be transferred out of my account to an account owned by another person. Also, they said I could lock down access to my account from IP addresses I designate. I haven't done the lockdown yet, but probably should.

It may be a good idea to call Neteller and see what security measures they have in place. Maybe they can make it so that transfers from your account only go to bank accounts and poker sites you designate.

[Lawrence Ng]

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what kind of "bank" are you talking about?

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neteller

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Why would anyone keep money in Neteller?

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Why wouldn't you?

Lawrence

[BigF]

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what kind of "bank" are you talking about?

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neteller

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I can answer this question from my own experience.

If your Neteller money gets stolen, you will be at fault and Neteller won't pay you one penny.

That's why I only keep 2k in Neteller.

That's also why I cringe when I see posts like "I have 30k in Neteller. I rock...."

[okayplayer]

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what kind of "bank" are you talking about?

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neteller

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Why would anyone keep money in Neteller?

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Why wouldn't you?

Lawrence

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Because of the title of this post. And more importantly, so I can have that money earning money. The only time I have money in there is when I am transferring in or out of a site.

[moondogg]

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what kind of "bank" are you talking about?

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neteller

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I can answer this question from my own experience.

If your Neteller money gets stolen, you will be at fault and Neteller won't pay you one penny.

That's why I only keep 2k in Neteller.

That's also why I cringe when I see posts like "I have 30k in Neteller. I rock...."

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What if some steals your Neteller points? I got millions (yes, I rock)

[Medra]

I'm sure you can have Neteller have some special authorization for large withdrawals on your account. Why not? Ask them.