Re: A serious proposal for funding on-line poker accounts

[Peg Smith]

In article <7519jvcc2bjhvasaja68prdge95r5ljaho@4ax.com>, clubwager@graffiti.net
writes:

>...As to the fee, I feel there will be a fair amount of my time
>spent keeping track of transfers and monitoring my PayPal
>account and entering the info for the transfers, etc...

How is it you're able to fund online poker sites from PayPal?

Folks, open a Neteller account and verify it with your bank account. Fund the
Neteller account (this takes about a week) and then deposit to the poker sites
directly (and instantaneously). Keep some extra cash in your Neteller account
so that you have instantaneous access to funds when deposit bonuses are offered
(or if you go broke playing poker, but we all know that never happens to any of
us).

The Neteller service, used this way, is free. If you're uncomfortable with
providing your checking account information, just open a checking account
strictly for this purpose and keep very little in it. When you want to deposit
to Neteller, just use online banking to make a transfer from your main checking
account to your secondary account. Cashouts from the poker sites back to
Neteller generally take only a day or two.

I've been doing this for a couple of years (for PayPal and then Neteller) and
haven't had any problems of any kind. There's no way you should pay a fee to
anyone when Neteller is free.

Peg

[clubwager@graffiti.net]

I would not fund PartyPoker from PayPal. I would use my
PartyPoker player account - but not until after I received
the funds from the player in my PayPal account.

I agree with you that there are free and fast ways to fund
internet poker if you take the time to set things up. One
doesn't even need Neteller. You can register your bank
account using IGMPay at PartyPoker and then make instant
deposits and cash outs. I use it and it works perfectly.

My proposal was to fill a possible niche for players who did
not yet do that set-up but wanted a very fast deposit
option. Before the credit cards stopped permitting internet
gambling transactions many people funded their accounts
using credit cards - even though less costly (but more
inconvenient) ways were available.

I have seen a lot of frustration expressed with Neteller in
postings to this newsgroup. And depositing to Neteller is
only free if you register your bank account and wait "at
least 3 business days". I copied this from the Neteller
site:

"Transfer money to your NETeller account from your bank
account.
Time: Requires at least 3 business days to clear.
Fee: Free
To deposit via EFT you need to register a bank account with
NETeller.
Instantly transfer money to your NETeller account from your
bank account.
Time: Instant transaction
Fee: 8.9% service fee
NETeller accepts Visa and Mastercard.
Time: Instant Transaction
Fee: 3.9% service fee"

They also charge for some withdrawals and there are delays:
Credit Card withdrawals take up to 7 days.
NETeller Debit Card $2.00 fee.
Peer To Peer transfers 1.9% (Recipient Pays).
EFT takes 1 - 2 days.
Check Fee by Regular Mail $1.00
FedEx (North America) $10.00
FedEx (International) $20.00

This is probably now moot as the hurdles to get PayPal to
allow such a money transfer business are formidable and I
would not be willing to put in the time, effort and money
required to set this up without strong support and
encouragement from the internet poker playing community.

Nevertheless, I thank you kindly for your comments and
opinions.


On 09 Aug 2003 19:19:58 GMT, pegsmithnow@aol.comnocrap (Peg
Smith) wrote:

>In article <7519jvcc2bjhvasaja68prdge95r5ljaho@4ax.com>, clubwager@graffiti.net
>writes:
>
>>...As to the fee, I feel there will be a fair amount of my time
>>spent keeping track of transfers and monitoring my PayPal
>>account and entering the info for the transfers, etc...
>
>How is it you're able to fund online poker sites from PayPal?
>
>Folks, open a Neteller account and verify it with your bank account. Fund the
>Neteller account (this takes about a week) and then deposit to the poker sites
>directly (and instantaneously). Keep some extra cash in your Neteller account
>so that you have instantaneous access to funds when deposit bonuses are offered
>(or if you go broke playing poker, but we all know that never happens to any of
>us).
>
>The Neteller service, used this way, is free. If you're uncomfortable with
>providing your checking account information, just open a checking account
>strictly for this purpose and keep very little in it. When you want to deposit
>to Neteller, just use online banking to make a transfer from your main checking
>account to your secondary account. Cashouts from the poker sites back to
>Neteller generally take only a day or two.
>
>I've been doing this for a couple of years (for PayPal and then Neteller) and
>haven't had any problems of any kind. There's no way you should pay a fee to
>anyone when Neteller is free.
>
>Peg

Please do NOT reply to clubwager@graffiti.net
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to www.clubwager.net and click on the "contact us" link
at the bottom of the page. Thank you.