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WTFawk?

Check out the below emails I received recently after trying to withdraw and get ready for the WSOP.  It's not like it is a ton of money, but damn.  At least Full Tilt fronted $100 for the headache, but what the hell is going on??!!  For the record, both checks looked like they came from the same payment processor.  What gives...


POKERSTARS

Dear TripJax,

We were recently informed by one of our check providers that their bank
account has been frozen.  As a result, the following check cannot be
cashed or deposited at this time:

Transaction ID: XXXXXXXX
Amount: "$1,515.00"
Mailed date: "May27, 2009"

We are in communication with the provider to establish the exact
circumstances, and find an immediate solution.  We appreciate your
patience in the meantime and will provide a further update by end of day
Monday.

Please accept our sincerest apologies for any disruption this has caused
you.

Best Regards,

Eduardo
PokerStars Payments Department
_____________________________________________________

FULLTILT

Dear TripJax,

You are receiving this email because there is an issue with your recent check withdrawal from Full Tilt Poker.  The following transaction(s) are affected:

TRANSFER - DATE - AMOUNT
XXXXXXX - 27/05/2009 - $310

If you have not yet done so, please do not attempt to cash or deposit your current withdrawal check(s).  Due to issues with one of our payment processors, the checks listed above will not be honoured by the bank.

The total amount you attempted to withdraw will be returned to your Full Tilt account within the next 24 hours.

We have now resolved the issue and you may re-initiate another check withdrawal once your balance is restored in the cashier.  Please note that the maximum check withdrawal amount is now $2500.

We understand the importance of receiving your funds in a timely manner and apologize sincerely for this delay and for any inconvenience caused.

In appreciation of your patience in this matter, we will be crediting your Full Tilt Poker account with $100 within the next 24 hours.

Thank you again for your patience and understanding. Please reply to this email or contactcheckupdate@fulltiltpoker.com for any clarification and assistance.

Sincerely,

Full Tilt Poker Support

Posted via email from TripJax

posted by TripJax @ 8:26 PM,

9 Comments:

At 9:28 PM, Blogger Riggstad said...

Having worked in that industry (payment processing industry), and one who once processed ACH transactions for Party Poker before the "law", I can guess at a few explanations.

And Oh man... you don't want to know

 
At 9:37 PM, Blogger cmitch said...

It's not looking good. Link to article about processor:
http://foxyurl.com/5i7

by the way, when are you heading to the WSOP? I'm there 6-14-6/20.

 
At 10:40 PM, Blogger TripJax said...

My withdrawal timing kicks ass. This reminds me of UIGEA...that cost me some dough as well...

 
At 11:18 PM, Anonymous APOSEC72 said...

That 2500 is sure going to be a problem for anyone looking to take out 10,000 for a certain event.

quoting Han Solo, I've got a bad feeling about this.

 
At 11:56 PM, Blogger KajaPoker said...

you can get a check any time you like, but the money can never leave. sounds familiar. good song lyrics...

 
At 12:04 PM, Blogger Riggstad said...

That article is a little misleading. The processor may be on the hook for the funds, but it's the banks, whichever ones they used (and I guarantee it's multiple banks), that are on the hook for the funds to the processor. Some financial institution has to underwrite all of those transactions. Could be that the processor is owned by said banks, but unlikely.

Charge backs mean that the wife of the card holder who deposited the money complained to the CC company (their issuing bank), that the transaction was not valid, and was credited the funds back. The site should have been informed and removed those deposits.

The issue is, if the guy deposited say $100, and went on to win, say $1,000, then only $100 of that should not have been able to be withdrawn (plus any applicable fees)

I know in the past when the UIGEA was passed, the banks that were used were not allowed to send any monies. All forms of transactions that dealt with gaming, whether coming or going were dead.

There have been banks used and processors that have found a way around the law, and things have ran relatively smooth. And with the talk of the new law being passed, mainstream processors and banks are gearing up for a huge opportunity.

The sites now will have no other option than to man up and eat those losses if they plan to compete against a flooded market of new supply.

Not only will Party and others who left come back, but US based Casinos will enter the market. Full Tilt and Stars are going to have to figure away to keep their players. Ones they cherry picked when Party went away.

Party was twice the size of stars before they left. And stars was #2.

In other words... It's one hot mess!

 
At 10:07 PM, Blogger TripJax said...

Thanks everyone for dropping by and commenting...and thanks riggs for the insight...

 
At 12:41 PM, Blogger jjok said...

man, I love a good riggs comment......wurd up to that mofo.

and trip, good luck getting your cashstuffs.

 
At 8:58 PM, Blogger TripJax said...

jjok,

will you email me at my email address listed above...or instant message me. i don't need anything from you and, no, i don't want your money. :~)

i have a question you wanker. now stop being terarded and email me.

 

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