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