Neteller company modifies the policy towards the UIGEA

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Neteller company modifies the policy towards the UIGEA

The Neteller group, the E-wallet company has announced a modification in their policy for the UIGEA which is Unlawful Gambling Enforcement Act. This act includes certain instructions to ban “unlawful internet gambling” by prohibiting the gambling sites from accepting particular payments from the residents of Sarthe company has even said that they will follow the rules of the act and they will continue business in the normal was unless the rules of the act are written by the Treasury Department.

The US residents will be able to use the NETELLER service as usual until the terms of the act are defined. It is said that the uncertainty of this situation should be handled when the Secretary of the Treasury and the Board of Governors of the Federal Reserve System issue the prohibitions they are required to within 270 days. The Neteller Company also is closely monitoring the situation and is deciding what actions to take before the end of the 270 day rule making period.

The company has already announced that the US-residents customer’s funds will be present in the accounts of the trusts and will also be made available for withdrawal on demand. There will be no problem in withdrawal of the funds without any regard to the customer’s location and their ability to transfer to any of the site. The company has also announced another main feature that is the customers who are non US residents will not at all be affected by this act.