After much delay, anticipation, and worry, the day has finally arrived. US customers can now withdraw their long-locked-up funds from Neteller. The only catch is that Neteller asks you to sign a release that indemnifies both you and them from being sued. I’m not a lawyer or in any way educated about such things, so I’m not going to offer my opinion right now on whether or not you should agree to the release, but my understanding is that you can get your money whether or not you agree. There’s a discussion on 2+2 right now about whether or not to agree, and I’m going to keep an eye on that for a little while before I make a decision. I’ll keep you posted.
Edit: There have also been reports of people’s bank account numbers being incorrect in Neteller’s records, despite having completed successful EFT’s in the past, so be sure to check this information before confirming your withdrawal.
For those who are curious, here’s the release:
You and NETELLER Plc Group (each, a “Releasing Party”) mutually release, waive, and discharge each other (each, a “Released Party”) from any and all manner of actions, causes of action, suits, promises, damages, judgments, executions, claims, counterclaims, demands, and any other form of liability whatsoever, in law or equity, known or unknown, that the Releasing Party ever had, now has, or hereafter can, shall, or may have against the Released Party from the date You opened Your Account to the Effective Date with respect to Your request to receive funds under the Distribution Plan and Your Account. The additional definitions below apply to this release:“You” or “Your” refers to you and any of your assigns, heirs, executors, agents, or anyone else acting on your behalf or in your capacity.“NETELLER Plc Group” means NETELLER plc and its predecessors, successors, present and former affiliated companies, subsidiaries, assigns, officers, directors, stockholders, employees, and agents. “Your Account” means your online stored value account with the Neteller plc Group, or any of them, which holds electronic money.“Distribution Plan” means the distribution plan announced by NETELLER Plc Group on 4 June 2007 pursuant to agreements with the United States Attorney’s Office for the Southern District of New York and Navigant Consulting, Inc. “Effective Date” means the date on which You successfully withdraw funds from Your Account under the Distribution Plan.