YouTeller.com Provides a Ray of Hope

It is no secret that things in the online poker world have been crazy since the founders of Neteller were arrested in mid-January. Neteller stopped servicing internet gambling transactions for American customers within days. Other payment processors, such as Citadel, Central Coin, and Instadebit followed suit. Many U.S. players have been in full-blown panic mode ever since, not knowing how to get their funds out of Neteller and the poker rooms and if they will ever be able to make a deposit again.

Enter a new online payment processor, YouTeller.com, created by London-based technology firm, Seed Capital. The company will not be ready to process money transfers until March, as it still has testing to finish, but from the looks of it, it plans to accept U.S. customers.

While there is no mention of the U.S. yet on its site, YouTeller.com co-founder and spokesperson, Florian Schweitzer, said in a press release, “We have no overseas branch in a NAFTA-country like Neteller or Citadel, so we are not affected by US legislation.” It does not take a genius to read between the lines here.

YouTeller.com has been granted a "Small E-Money Issuer Certificate” by the British Financial Services Authority, allowing it to start business as an e-wallet.

Unfortunately, it is not all that cheap to move one’s money around with YouTeller.com. Credit card deposits are assessed a 3.5% fee plus fifty cents, while deposits from bank accounts are levied a 1% fee plus $1. Cash outs from YouTeller cost 1% plus $5.

There is no guarantee that YouTeller.com will be the solution to U.S. poker players’ problems, but its birth is a welcome sight.