posted on March 23, 2001 07:38:39 AM
>Looks good so far<<
Based on what? There is no info on who is behind it, no info on what the fees are, no info on how they can promise "no charge backs." Just food for thought, there was another service called Paymentalt that popped up practically overnight, making wonderful promises. I pointed out the same things about them. Folks chose to ignore the warnings. About 14,000 folks signed up. The site disappeared. A number of folks reported making payments that never arrived at the destination or finding charges on their credit cards that they never made. Last I heard, the authorities were looking for the folks behind it.
We have all heard the horror stories about false charge backs and stolen credit cards being used on Paypal. Now along comes a service that allows you to attach your Paypal account to them. So if there is a problem, you will have to deal with 4 different sources (your customer/seller, your credit card company, paypal and netteller) trying to fix it. Good luck.
I strongly recommend sticking with companies that have been around, are experienced with financial transactions and are backed by reputable institutions. These include Western Union's Moneyzap, Billpoint, Citibank's C2it.
Just to respond to some criticism levied by Yisgood-
Our financial backing includes some very large corporations (Deustche Bank, Goldman Sachs, Nokia) and we have some partnerships with large international institutions as well.
As it relates to charge backs, we are one of the few, if any, payment services that offers any level of protection to the recipient of a charge back (provided they follow the guidelines of the Seller Protection Program) and we also offer Buyer Protection. We also have many internal mechanisms to identify potential fraud to prevent charge back issues (any time you accept a credit card, regardless of which service you utilize, runs the risk of the card potentially being a stolen one---you can protect yourself, as mentioned, by following the SPP program---you will eliminate your liability for the charge back)
Yisgood is good to point to restricted accounts as being a problem. Account restrictions are extremely rare these days and they require a clear violation of the terms of use. Specific problem transactions are isolated and the receiving account is not restricted.
Our service is also based on more than credit card processing and users are able to pay from their bank account as well.
I invite you or anyone to read my posts in the thread above about how PayPal protected me as a buyer and my suggestions on how to avoid this not happening to you.
There is also a post in there from their TOU about them not being a Bank so Banking rules do not apply to them. Just remember that, you basically have no rights when it comes to using any of these 3rd party services (not just PayPal)
posted on March 23, 2001 11:57:26 AMLooks good so far
Are you looking at it as a buyer or a seller? There is almost no seller information on the site...you have to "contact support" for that information...that alone raises a question in my mind.
Putting that aside, the merchant page says "Clear deposits to you quickly, with no chargebacks or called back money". Then if you read the TOS, it says "7. You are responsible for confirming the identity of the other party in a payment.", "10. If you are a Recipient, you assume all risks in accepting payments from Senders.", and "13. If you are a Recipient and a Sender charges back any amount relating to a payment made to a Recipient, NETeller may, at its option, elect to recover any portion of the amount charged back by either reducing your NETeller™ account balance or charging your credit card."
Sounds to me like they still have some conflicting statements to work out....
posted on March 23, 2001 05:32:12 PM
Here's the whois ... new domain, CANADIAN hosted, so CANADIAN banking laws apply.
Registrant:
Smithwyck Financial Corp. (NETELLER2-DOM)
Suite 532 (2nd Floor)
Toronto, ON N7B1F8
CA
Domain Name: NETELLER.COM
Administrative Contact, Billing Contact:
Baker, Peter (PBY126) [email protected]
Baker Systems Inc.
4040 Bloor St W
Toronto, ON N6A1X2
CA
416 743 3343 (FAX) 416 743 2323
Technical Contact:
TAC Support (TS182-ORG) [email protected]
TELUS Advanced Communications
Suite 3300, Shell Centre
400 - 4th Avenue S.W.
Calgary, Alberta T2P 0J4
CA
(403) 503-3400
Fax- - - - (403) 543-2030
Record last updated on 20-Feb-2001.
Record expires on 07-Jan-2002.
Record created on 07-Jan-2000.
***************
SECURITY:
"The servers that contain your information are kept securely behind firewalls and are verified as secure servers by Thawte Consulting, which is a VeriSign company. VeriSign Web site digital certificate services are used by all of the Fortune 500 companies with a Web presence."
Yes, but a couple of days ago, someone TALKED Verisign into handing over some Microsoft certificates. No hacking needed, just words.
************
It appears to work like the Amazon payment thing ... you "fund" your account, and then make payments from the balance. And they DO CHARGE transfer fees ... http://www.neteller.com/neteller/help3.cfm
posted on March 23, 2001 05:56:38 PM
Didn't see where it mentioned transfer fees on that page...and definately no amounts. Though I did find it interesting that they charge a "processing fee" for funding your account by credit card....I'm sure the buyers will appreciate that...
posted on March 23, 2001 10:04:46 PMThough I did find it interesting that they charge a "processing fee" for funding your account by credit card....I'm sure the buyers will appreciate that...
Out of curiosity I signed up to look around (name, address, phone number, and email was required). Some things I saw were a bit strange, but I guess it's legit. I'm not sharing any 'critical information' at this time though.
No I don't think buyers would appreciate the fees.
