Dispute Between FTP and Moneybookers

June 26, 2011 - 8:15 PM EDT
By

Subject: Poker has learned from several reliable sources of a rift in the relationship between Moneybookers and Full Tilt Poker. The dispute centers around FTP’s apparent selective processing of withdrawals to the e-wallet.

Since Black Friday, Full Tilt has been disabling Moneybookers withdrawals for players from various countries in a seemingly arbitrary pattern. This has been a significant financial burden for the payment processor.1 Sources close to the situation have told Subject: Poker that Moneybookers has been in regular communication with Full Tilt Poker over this topic since April 15th, but the two companies have reportedly been unable to reach a compromise. Moneybookers has reportedly threatened to stop doing business with the poker site if the problem is not resolved quickly.

Full Tilt has the ability to turn off Moneybookers withdrawals for each individual country at will. Numerous threads across the Two Plus Two Poker Forums confirm that some countries have indeed been sporadically unable to withdraw to Moneybookers. E-wallet withdrawals were quite fast before Black Friday, but since the April 15th indictments, some non-US players have been reporting delays up to several weeks.

Moneybookers, based in London, is one of the largest e-wallets in the world servicing more than 18 million customers. It is reportedly FTP’s largest payment processor for non-US customers.


Update 6/29/2011, 10:14 AM EST:

It seems that FTP has been unable to resolve this dispute with Moneybookers. Players report receiving the following email from Moneybookers:

Dear [player],
As a Moneybookers customer, you already know you are the most important part of our business. We always make sure you receive the safest service.

For this reason we have stopped accepting deposits made to Full Tilt Poker.

There are extraordinary circumstances behind this situation which are beyond our control. We will not comment on these, just take appropriate action that protects our customers.

We have requested that the Moneybookers logo be removed from Full Tilt Poker, but cannot do any more to make sure it is not displayed. Moneybookers is no longer available from Full Tilt Poker, and you will receive an error message if you attempt to use our service there.

We want you to continue to enjoy your gaming with Moneybookers, and recommend you have a look at our gaming promotion page.

As we have stated, this is an extraordinary situation, and we will try to have all connected issues resolved as soon as possible.

Should you have any questions, please contact our customer support.

Best wishes,

Your Moneybookers Team

Note that the AGCC has suspended FTP’s license today, so FTP is currently not allowed to take deposits from players anyway.


Edited on 6/29/2011 7:28 PM EST: The update was published at 10:14 AM EST, not of 10:14 PM.

Footnotes

  1. According to a reliable source, Moneybookers makes significantly more money from player withdrawals than from player deposits.

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10 Responses to Dispute Between FTP and Moneybookers

  1. Steve
    June 26, 2011 at 9:27 PM EDT

    Great article Brian and nicely written. I was just referred over here by a close friend.

    What bothers me about all of this is the fact Full Tilt Poker refuses to keep in constant contact with its players and affiliates who have been loyal to them for years.

    When a company such as Full Tilt Poker can not or unwilling to process withdraws of a particular ewallet they should also stop the depositing feature of that ewallet as well.

    I for one have been waiting around 25 days and this is unacceptable especially when I am both a player and affiliate.

    My players and business are being affected by this and it makes me look bad as well since I have referred several players there.

    ON the flip side I feel like MoneyBookers has done a poor job at protecting its clients in this matter and the deposit feature should of been turned off long ago – at least until this issue could be resolved.

    Lets put it this way – Moneybookers can see there is an issue here yet they are doing nothing about it except to make threats of closing off business ties.

    An immediate stop of deposits should of happened a long time ago.

    This has tarnished an almost flawless reputation with MoneyBookers. I lost allot of respect them in this case.

  2. CasinoBeacon
    June 26, 2011 at 9:46 PM EDT

    Too little, far too late from Moneybookers. They have been aware for some time now that Full Tilt have not been paying players. Moneybookers have chosen to take the processing fees and happily send their customers’ money to Full Tilt, knowing that it’s going into a black hole.

    I’ll never trust Moneybookers again. They’ve acted disgracefully and at the time of writing, you can still deposit at FT with MB.

  3. Lauren
    June 27, 2011 at 5:31 AM EDT

    If this is true, then why hasn’t any action been taken against both FT and MB? Players who are unaware of this will still continue to get cheated.

    Lauren

  4. Owned
    June 27, 2011 at 5:46 AM EDT

    FullTilt Poker looks very unethical site.Once to their European Customers which are still unable to cashout their money 2months and 2nd time because US players were played on credit for about 60Mln USD.I strongly advice to everyone to not play and to not doing any bussiness with this company.

  5. darius
    June 27, 2011 at 5:42 PM EDT

    i still cannot believe that there are still players on full tilt.

  6. CuriousFive
    June 28, 2011 at 6:38 AM EDT

    @Brian: Great article.

    However very curious why FTP (or any site) would compensate more for payouts than deposits. Quite clearly it is of a greater (only) concern to them that they can get the money not to give it back. So do we have numbers on the respective compensations for MB?

    Or maybe this is not so much about the pure compensation for MB but also about the huge extra profit MB makes from withdrawals by giving horrible exchange rates to their users. Withdrawing USD into an non USD MB account costs you as a player a lot due to the horrible exchange rate.

    MB and FTP: The pot calling the kettle black?

  7. Skies
    June 28, 2011 at 10:23 AM EDT

    @CuriousFive: Actually, you can have multiple MB accounts (USD and non-USD) to avoid those exchange rates. MB allows it.

    • CuriousFive
      June 29, 2011 at 9:57 AM EDT

      @Skies: True, but then they get me when I withdraw from USD MB into my EUR bank account, or not?

  8. Lee
    June 28, 2011 at 9:23 PM EDT

    MoneyBookers&Netteller are Satan’s Evil Twins

  9. Brian
    July 19, 2011 at 12:33 AM EDT

    It should be totally obvious to everyone now that FTP doesn’t have any money, even enough to pay the offshore players. If they dont close this deal this month, it’s sayonara. My guess is they are paying the employees out of pocket (or with whats left) hoping to get a deal done, because if they dont get it done, they are SOL personally with that class action suit hanging out there. Heck, its common sense and I wouldn’t be surprised if they didn’t even make the final payroll payment at the end of the month if this deal doesn’t get done

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