NETeller and Canada
Monday, 26 March 2007 - The NETELLER Group (NETELLER) today announced several significant changes to
its services in a number of markets. Recent actions by regulators, payment processors, and online gaming operators have increased the uncertainty around certain activities related to online gambling in
some jurisdictions. The Board of Directors of the Company reached a decision, on 25 March 2007,
that the risk to the Group�s ongoing business in Canada and Turkey has increased in the light of such
developments. The Board has therefore concluded that the Group will no longer process transfers related to online gambling sites on behalf of Canada or Turkey resident customers.
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Reduced Service to Canada
* Cessation of Canadian transfers to gambling merchants: the Group will cease processing online gambling related transactions for Canada-resident customers with effect from 12.01 AM MST Monday 9 April 2007.
* Suspension of InstaCASH transactions: As of today Monday 26 March 2007, at 12:01 AM MST, Canada-resident customers were no longer able to deposit funds using NETELLER�s instaCASH service either directly or from any online gambling site.
* Non-gambling services continue: Canada-resident customers will continue to be able to use their e-wallet accounts for non-gambling transactions, including peer-to-peer and pre-paid debit transactions.
* Available customer funds: Customer funds, including those of Canadian residents, are held in a pooled, segregated trust account and will be available for withdrawal by customers, on demand. Canadian customers continue to be able to use their e-wallet accounts for non-gambling transactions
Well, that's the official story. But Canadian Players should NOT panic. You have time to get your money out, if you so desire. And don't forget that lots of rooms continued operations in the US after NETeller pulled out - these rooms WILL continue to serve the Canadian market.
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