UMW/QT Begin Repayment

July 21, 2011 - 7:01 PM EDT
By

Updated 7/22/2011 4:00 EDT.

Subject: Poker has received several confirmed reports that the UseMyWallet implementation QuickTender has begun paying out some customer balances.

Numerous users with bank accounts in the United Kingdom and Canada have reported receiving their funds recently. The recipients reported waiting approximately two weeks for the funds to arrive. However, we have not heard any reports of customers receiving payments to bank accounts in the United States. (This is no longer the case. See update.)

Currently, only users with balances that had cleared before the site went offline on May 25th have reported receiving their funds. Funds are marked as “cleared” on QuickTender’s website if they are successfully held by QuickTender and “uncleared” if they are in transit. PlusEVPoker.com reported on June 6th that funds that were uncleared as of May 25th, were frozen in intermediary banks before they reached users.1

UseMyWallet and QuickTender shut down on May 25th with little explanation, weeks after players began to notice that the site was having trouble processing payments. The company’s shut-down notice reported pessimistically, “At this time we are unable to confirm when or if we could make payments of remaining balances.” Analysis of wire transfer receipts revealed that UseMyWallet and QuickTender were associated with Chargestream Ltd, one of the companies whose bank accounts were frozen in connection with the May 23rd indictments.

However, on June 23rd, QuickTender sent an e-mail to customers about repayments. Users who want to access their funds reportedly have until August 15th to send their banking details to the e-wallet via the Contact Us section of its website. QuickTender suggests that users use a bank account in euros to receive their funds as they are unable to send transfers in dollars. Current balances in dollars will be converted to euros before being sent, and QuickTender is only guaranteeing funds sent to euro-denominated accounts.

Subject: Poker will be continuing to follow this story and we will update our readers as it develops.


Update 7/22 4:00 PM EDT:
We have now received confirmed reports of US customers receiving their funds to their dollar-denominated bank accounts. The wait times for these US users were similar. US customers need to supply a SWIFT code or BIC to receive their funds.


You can read more of Aaron Wilt’s work at his blog, where much of the research behind this article is detailed, or follow him on Twitter.


Edited on 7/31/2011 2:41 AM EDT: Fixed two broken links.

Footnotes

  1. PlusEVPoker.com is the author’s blog, and all work attributed to PlusEVPoker.com was done by the author, Aaron Wilt. Aaron’s investigative work for his blog related to UseMyWallet and QuickTender is peerless. Besides sharing a writer and mutual respect, Subject: Poker is not associated with PlusEVPoker.com.

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4 Responses to UMW/QT Begin Repayment

  1. Ryan
    July 22, 2011 at 9:35 PM EDT

    Great news. Glad to see players getting paid back.

  2. Matthew
    July 23, 2011 at 2:05 PM EDT

    When will these websites acknowledge that the money they are “witholding” is simply not theirs. Tell me if I’m wrong.

  3. Stacey Nutini
    July 26, 2011 at 1:14 AM EDT

    This company is lying to people left and right. The last withdrawal I asked for from them was May 3rd. Typically once they confirm via email, I would always have the $ in my bank in 48 hours or Less. This time, no money. On the 16th I contacted them and they said the transfer was rejected and my funds were being returned to my quick tender acct. On May 18th, the funds indeed were there, with no way to withdraw them.

    Now this company has locked me out of logging into my account and tried to suddenly tell me my funds were seized on their way to My bank. This is untrue as, like I mentioned before, I saw them as being returned to my QT balance.

    They are giving me the run around, failing to communicate and still trying to insist my funds were seized.

    I will not stop with this until they pay me back my very large sum Of money that is rightfully mine.

  4. Evgeny
    July 27, 2011 at 5:53 AM EDT

    Hello. Why is there no information about full tilt? I neponyal when they start working. When pay money?

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