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auCL-Ed
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1 July 2011 - 7:49am

Quicktender / UseMyWallet - possibility of recovered funds!

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This is a note for anyone with funds frozen in their accounts due to the QuickTender / UseMyWallet seizures a few months back. Quicktender are releasing funds to account holders. However (and it s a big one) you must withdraw to a Euro currency bank account before August 15.

This is a statement that they have released:

Quote:

We are writing to confirm the process to enable you to withdraw your remaining ‘available’ QuickTender USD balance.

As previously advised in order for customers to have their balances refunded, they will need to have a Euro currency bank account as we can no longer make any payments into a USD denominated account. We urge you to obtain a EURO denominated bank account in order to receive your funds.

From the 1st July and until the 15th August you will be able to log into the QuickTender site at www.quicktender.com and to request a withdrawal using the ‘Contact Us’ section. Before selecting contact us, you should first login as this ensures your account name and registered email is copied and also the page is now secure (if you select contact us before logging in the page, neither your account information is copied, or the page is secure via HTTPS Socket Level Security).

Once logged into your QuickTender account, you will be able to review your balance and obtain a statement of the previous transactions prior to requesting a withdrawal. There will be no way to transfer funds to previously QuickTender accepting merchants.

In this contact us section, you should select ‘Withdrawing Funds from your account’ from the drop down subject menu and in the space below, immediately provide with your EURO bank account details (clearly including any intermediatory bank details if necessary) in the following format:

Bank Account Name (this must match the family name that your QuickTender account is registered in)
Bank Name
Bank Address
Bank Identification Code (BIC also known as Swift Code)
Bank Account Number / International Bank Account Number (IBAN)
Please note we will not send any funds that claim to be destined for a EURO account to a 9 digit Fedwire/ABA routing number. If you obtain a EURO account from a USA based bank they will be able to provide you with the BIC/Swift Code and /or an International Bank Account Number (IBAN).

As previously mentioned, withdrawals can only be made to EURO bank accounts and will only be sent in the name of the registered QuickTender account holder. We cannot support 3rd party withdrawals.

To be clear, your withdrawal will be processed from your USD QuickTender account and QuickTender will convert it to the EURO equivalent amount based on the prevailing exchange rate.

Once we have successfully processed your withdrawal, we will advise you by email of the EURO amount and the date you should expect to receive it. Only funds sent to a EURO bank account are fully protected. We will not be held liable for any funds that are not received due to them not being sent to a EURO bank account in the name of the QuickTender account holder.

If you want your funds you need to act quickly to open a EURO denominated bank account and request a withdrawal to it prior to the 15th August 2011.

We are deeply sorry that this is the only means of ensuring you receive your QuickTender funds as part of us ceasing our service, but we want to ensure you receive them rather than the USA authorities.

QuickTender Team

Unfortunately the bank account has to be in the same name as the Quicktender account. So that means you will have to set up the account yourself if you do not already have one. If you have a significant balance in there it is well and truly worth it though.

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ioplayborne
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1 July 2011 - 8:27am
#1

Let's hope that Full Tilt does the same, for a period of time to allow the players withdraw their winnings for a short time, as there are many of those, who have thousands on their accounts, but the operations are terminated...

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auCL-Ed
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2 July 2011 - 7:56am
#2

The Full Tilt situation is totally different. They have had their license suspended by the Alderney Gambling Control Commission - they have not had their funds seized or confiscated. I presume they have several options including fighting it in court, operating without a license, or moving to another jurisdiction which does not have as stringent licensing conditions, of which there are many.

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ioplayborne
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4 July 2011 - 10:03am
#3

The situation is different, but the problem is the same - frozen accounts with debit balances....

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usRodaaf282
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14 July 2011 - 10:40pm
#4

Are there any US players out there who have opened up a euro denominated bank account? If so, with which bank did you open up an account and what was the procedure?

auCL-Ed
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15 July 2011 - 12:31am
#5

Bear in mind that I am not in the USA, but if your current bank cannot do it, you could try one of the global banks such as HSBC. They should be able to set up a foreign currency account for you.

I found this page of info:
http://www.offshore.hsbc.com/1/2/international/bank-accounts/offshore-cu...

You need to have a minimum balance to start the account. If you have the money you could probably set the account up, transfer in the minimum balance then once you receive the QT money withdraw and close the account.

But you had better do it quick as you only have until August 15.

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usRodaaf282
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15 July 2011 - 9:28pm
#6

Thanks, Ed. I did look into HSBC already. The minium balance is $10,000.00. Too rich for my blood!

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