Neteller now is using Bitpay to accept Bitcoin as deposit method - Big news! - page 2.

blueparrot

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Quote from: patt0 on April 18, 2015, 05:21:27 PM

Quote from: rodrigobitcoin on April 18, 2015, 01:38:58 PM

patt0 but to betfair or other similar site, you can deposit and later withdraw, without play money at least one time?

I never did that but I'm sure you can. What you can't withdraw without "playing" first is bonus money from any promotion they might have, but I'm sure you can withdraw the money you just deposited. (the only "restriction" like I said before is that you must use the same method you previous used to deposit. If you deposit let's say $30 with neteller you must withdraw them from neteller and not by any other method)

This is wrong. Betfair and most other sites require you to make at least a bet (or multiple bets) with the size of the deposit. Some bookmakers even require you to turnover your deposit
multiple times (pinnaclesports.com).

The reason for this is the deposit fees that Betfair has to pay to the e-wallet providers like Neteller and Skrill.
If you would deposit and withdraw without playing they would make a guaranteed loss due to the above mentioned fees.

patt0

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Quote from: rodrigobitcoin on April 18, 2015, 01:38:58 PM

patt0 but to betfair or other similar site, you can deposit and later withdraw, without play money at least one time?

I never did that but I'm sure you can. What you can't withdraw without "playing" first is bonus money from any promotion they might have, but I'm sure you can withdraw the money you just deposited. (the only "restriction" like I said before is that you must use the same method you previous used to deposit. If you deposit let's say $30 with neteller you must withdraw them from neteller and not by any other method)

rodrigobitcoin

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patt0 but to betfair or other similar site, you can deposit and later withdraw, without play money at least one time?

redsn0w

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#Free market

Quote from: marcotheminer on April 18, 2015, 09:47:14 AM

Quote from: HostFat on April 18, 2015, 09:14:49 AM

We know that the problem comes from mastercard because the Neteller PR has said it on the blog
Now she has edited her messages but there are still some screenshots on Reddit.

I think it's just their relationship with MasterCard, other services are using MasterCard without issues.

Perfect, thanks. So I do not think it will be a problem with the advcash card (or at least I hope).

patt0

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Quote from: redsn0w on April 18, 2015, 08:24:45 AM

Quote from: patt0 on April 18, 2015, 08:22:04 AM

Quote from: byt411 on April 17, 2015, 06:38:38 PM

Quote from: marcotheminer on April 17, 2015, 01:14:39 PM

Quote from: patt0 on April 17, 2015, 11:29:31 AM

hmm but if I deposit in a merchant like betfair, and them withdraw it, won't it be treated as "normal" founds and then I can use them with my neteller card?

Not sure. It could be seen as originating from BTC (but a bank deposit could be too). Ask support!

He should just try it and see if it works. If it does, then it's an easy way to get around the system, but that could mean that your account gets possibly flagged due to abusing it or something.

I will try it at the end of the month (maybe sooner). To be honest I can't see how they can stop me from doing it. I don't think they are allowed to ask betfair for details on my activity, so I could just be withdrawing profit, or wtv. They could have a system like betfair, and that would stop it.

They could control how much I have deposited into betfair with btc, and then only allow me to use founds from betfair if they were more the initially deposited. (I have deposit the equivalent to $30 in btc into betfair, so if I withdrew, let's say $35 from betfair, they would only let me use $5 with the card, and the other $30 would have the same restrictions).

I will let you know what happens when I try it.

I do not think they will cause you a problem or lock those funds, if you withdraw them from betfair than in this case they cannot say nothing.

Someone know if the problem is definitely by mastercard or not?

I don't think they will do that either. That is why I said that this should be the easy way to "counter the system".
But if they are really serious in that restriction in using btc deposit with the card etc, that would be their easy way of doing it.

Betfair does it as well, to prevent users from depositing with a payment method and withdraw it with another.
(anyway like I said I will test it at the end of the month and let you know how it goes)

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Quote from: HostFat on April 18, 2015, 09:14:49 AM

We know that the problem comes from mastercard because the Neteller PR has said it on the blog
Now she has edited her messages but there are still some screenshots on Reddit.

I think it's just their relationship with MasterCard, other services are using MasterCard without issues.

HostFat

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We know that the problem comes from mastercard because the Neteller PR has said it on the blog
Now she has edited her messages but there are still some screenshots on Reddit.

redsn0w

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#Free market

Quote from: patt0 on April 18, 2015, 08:22:04 AM

Quote from: byt411 on April 17, 2015, 06:38:38 PM

Quote from: marcotheminer on April 17, 2015, 01:14:39 PM

Quote from: patt0 on April 17, 2015, 11:29:31 AM

hmm but if I deposit in a merchant like betfair, and them withdraw it, won't it be treated as "normal" founds and then I can use them with my neteller card?

Not sure. It could be seen as originating from BTC (but a bank deposit could be too). Ask support!

He should just try it and see if it works. If it does, then it's an easy way to get around the system, but that could mean that your account gets possibly flagged due to abusing it or something.

I will try it at the end of the month (maybe sooner). To be honest I can't see how they can stop me from doing it. I don't think they are allowed to ask betfair for details on my activity, so I could just be withdrawing profit, or wtv. They could have a system like betfair, and that would stop it.

They could control how much I have deposited into betfair with btc, and then only allow me to use founds from betfair if they were more the initially deposited. (I have deposit the equivalent to $30 in btc into betfair, so if I withdrew, let's say $35 from betfair, they would only let me use $5 with the card, and the other $30 would have the same restrictions).

I will let you know what happens when I try it.

I do not think they will cause you a problem or lock those funds, if you withdraw them from betfair than in this case they cannot say nothing.

Someone know if the problem is definitely by mastercard or not?

patt0

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Quote from: byt411 on April 17, 2015, 06:38:38 PM

Quote from: marcotheminer on April 17, 2015, 01:14:39 PM

Quote from: patt0 on April 17, 2015, 11:29:31 AM

hmm but if I deposit in a merchant like betfair, and them withdraw it, won't it be treated as "normal" founds and then I can use them with my neteller card?

Not sure. It could be seen as originating from BTC (but a bank deposit could be too). Ask support!

He should just try it and see if it works. If it does, then it's an easy way to get around the system, but that could mean that your account gets possibly flagged due to abusing it or something.

I will try it at the end of the month (maybe sooner). To be honest I can't see how they can stop me from doing it. I don't think they are allowed to ask betfair for details on my activity, so I could just be withdrawing profit, or wtv. They could have a system like betfair, and that would stop it.

They could control how much I have deposited into betfair with btc, and then only allow me to use founds from betfair if they were more the initially deposited. (I have deposit the equivalent to $30 in btc into betfair, so if I withdrew, let's say $35 from betfair, they would only let me use $5 with the card, and the other $30 would have the same restrictions).

I will let you know what happens when I try it.

byt411

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Quote from: marcotheminer on April 17, 2015, 01:14:39 PM

Quote from: patt0 on April 17, 2015, 11:29:31 AM

hmm but if I deposit in a merchant like betfair, and them withdraw it, won't it be treated as "normal" founds and then I can use them with my neteller card?

Not sure. It could be seen as originating from BTC (but a bank deposit could be too). Ask support!

He should just try it and see if it works. If it does, then it's an easy way to get around the system, but that could mean that your account gets possibly flagged due to abusing it or something.

marcotheminer

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HostFat you should make the edit more easily seen.

marcotheminer

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Quote from: patt0 on April 17, 2015, 11:29:31 AM

hmm but if I deposit in a merchant like betfair, and them withdraw it, won't it be treated as "normal" founds and then I can use them with my neteller card?

Not sure. It could be seen as originating from BTC (but a bank deposit could be too). Ask support!

patt0

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Quote from: HostFat on April 17, 2015, 11:31:21 AM

How much ask betfair to withdraw?

To withdraw there is no fee. To deposit used to be free, but now they charge you 1% of your deposit. But if is a way to get around it it's not that bad.

HostFat

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How much ask betfair to withdraw?

patt0

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hmm but if I deposit in a merchant like betfair, and them withdraw it, won't it be treated as "normal" founds and then I can use them with my neteller card?

marcotheminer

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Quote from: Sampey on April 17, 2015, 10:55:35 AM

On the blog they answer to the question :

Quote

Can we use the funds with a Neteller virtual card?

With

Quote

No, none of the Net+ card products will be able to access funds which were deposited to NETELLER via Bitcoin.

So, what does this means? how can i use BTC deposited on Neteller?

If virtual card doesn't work, if Neteller/Mastercard doesn't work, what are the remaining options???

That's correct. You can't use funds from deposited Bitcoin with your Neteller MasterCard nor the virtual card. You can only use funds from Bitcoin deposits for transfers to merchants or other members.

Sampey

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On the blog they answer to the question :

Quote

Can we use the funds with a Neteller virtual card?

With

Quote

No, none of the Net+ card products will be able to access funds which were deposited to NETELLER via Bitcoin.

So, what does this means? how can i use BTC deposited on Neteller?

If virtual card doesn't work, if Neteller/Mastercard doesn't work, what are the remaining options???

marcotheminer

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Quote from: Sarah

I can confirm that the information provided in this blog is correct and that you will not be able to use funds deposited via Bitcoin with your Net+ card.

http://blog.neteller.com/2015/04/new-deposit-option-bitcoin/

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Quote from: minimalB on April 17, 2015, 08:09:31 AM

Quote from: marcotheminer on April 17, 2015, 07:31:28 AM

So basically you can't use your bitcoin deposited funds as balance on your debit card.

Is this true or FUD? Could someone with the card try out? If it's true, it sucks completely : /

It's true for the Neteller card, yes, unfortunately: http://blog.neteller.com/2015/04/new-deposit-option-bitcoin/

minimalB

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Quote from: marcotheminer on April 17, 2015, 07:31:28 AM

So basically you can't use your bitcoin deposited funds as balance on your debit card.

Is this true or FUD? Could someone with the card try out? If it's true, it sucks completely : /

Topic: Neteller now is using Bitpay to accept Bitcoin as deposit method - Big news! - page 2. (Read 10274 times)