As most of us know neteller recently launched their so called "VEGAS PROMOTION"
This promotion was divided to some periods and everybody who hit his personal target of eligible transactions was supposed to take a 10% cashback (with a max cashback amount of 1.5k usd!!!) for his eligible transactions until end of period 1 which was until 18 of November.
I must admit that this was too good to be true and my guess was that eventually neteller will find a way not to pay these cashbacks ofcourse after these eligible transactions made and produce some nice profits for neteller
Well , guess what?!
neteller changed the promotion's t&c's in Dec 2 retrospectively !!!
They added some excluded merchants , but the best part is this "cash prizes for customers whose NETELLER VIP status was Silver, Bronze, or lower as of 02
November 2016 will be limited to $150 in period 1 and 2."
Hahahahaha .... good ehh?
So one month or more from their initial t&c's they change retrospectively terms and reduce pretty much everybody's cashback from 1.5k to 150!!!
Of course they was stating even in their initial t&c's that they can change them or even " end the Promotion at any time in their sole discretion"
Now , if that's not unethical practices i don't know what is!!!
That's a complete joke. I don't care if they had any term saying they could change any of the terms, I can't see any term of that nature being a term that would be considered fair in any way, shape or form in a court of law, and for that reason if it went as far as court, I can't see anyway Neteller could wriggle out of it.
It's like a bookmaker advertising a £100 bonus and then after you've signed up they tell you they're only going to give you a £5 bonus. The bookmaker wouldn't have any grounds whatsoever not to pay you the £100 bonus and I expect even IBAS would rule in the customer's favour in that sort of case without needing to go to court or anything.
If you want to take it further, contact the FCA to see if there's any comeback on this from their side, as I don't see any differences between that example of a bookie not being able to change their bonus conditions in such a way and what Neteller have done.
If the FCA say they can't help and you want to do anything further about this, legal action is the way to go if you want to take it that far as I can't see anyway Neteller could argue this in their favour in a court of law and if faced with legal action they may even settle it before court knowing how silly they'd sound in court, and you could perhaps get other arbers etc that have been swindled by this to get in on the act and teach Neteller a lesson in a group legal case.
Companies in the gambling industry need to be put in their place in these sorts of situations and made aware that they can't completely run riot over customers with no consequences.