Cashing Out of Pokersites Through Checks [Archive]

OasisG

01-19-2007, 06:54 PM

I've been trying to read all this mess but can somebody confirm that cashing out through checks works on all these sites?

I know it works for stars and thats it. I have at least 5k on all the big sites left.

TruePoker CEO

01-19-2007, 07:26 PM

It works for TruePoker.

(The UIGE Act related only to deposits and then only to covered businesses, which are "in the business of betting or wagering". A purely poker site neither bets or wagers.)

fasteddy1970

01-19-2007, 08:02 PM

Oasis; pokerstars told me that they will send it by courier if it's over a $1000. . Otherwise they said it can take up to three weeks to receive the check. In the long run the problem won't be pokerstars. They are a legit and honorable site. It's the banks I'm worried about, not in the next month or so but later once the government comes out with an enforcement program. One letter from the government to all of the major banks, and cashing or depositing a pokerstars check could be undoable. I hope I'm wrong. The government works very slowly on formulating enforcement policies and implementing them but once they start, it's a very hard train to stop.

tizlinda

01-19-2007, 08:06 PM

ive recieved checks from various sites before and I haven't ever been able to tell they came from a poker site....they come from banks. How would a bank know what they are from?

Rtaylor86

01-19-2007, 08:09 PM

I was just about to say, I sent a Email to Pokerstars regaurding all this and they said "Pokerstars" is nowhere on the check at all, only their financial credit card processor/Bank they use, so your bank will have no idea where the check even came from. ie. Pokersite

dcssullivan

01-19-2007, 08:17 PM

This is true. It's from a group called chexxinc (web address taken out, don't want to be accused of spam)

Just cashed one yesterday. My bank didn't seem to have issue with it.

dustyn

01-19-2007, 08:20 PM

If the sites start cutting checks from foreign banks, is this a problem? Will American banks accept them? From what I've read from a few minute google search, you can usually get your bank to cash them, but it's a pain. Does anyone know more?

dcssullivan

01-19-2007, 08:23 PM

[ QUOTE ]
If the sites start cutting checks from foreign banks, is this a problem? Will American banks accept them? From what I've read from a few minute google search, you can usually get your bank to cash them, but it's a pain. Does anyone know more?

[/ QUOTE ]

The stars checks do say "US BANK" on it. Looks really cheesy to be honest, but as far as I can tell it's taken from a US bank account. Can't vouch for any other companies checks. American banks still have to accept foreign checks, global trade would be impossible if not. Our government might be stupid, but it's not THAT stupid.

dustyn

01-19-2007, 08:24 PM

[ QUOTE ]
[ QUOTE ]
If the sites start cutting checks from foreign banks, is this a problem? Will American banks accept them? From what I've read from a few minute google search, you can usually get your bank to cash them, but it's a pain. Does anyone know more?

[/ QUOTE ]

The stars checks do say "US BANK" on it. Looks really cheesy to be honest, but as far as I can tell it's taken from a US bank account. Can't vouch for any other companies checks. American banks still have to accept foreign checks, global trade would be impossible if not. Our government might be stupid, but it's not THAT stupid.

[/ QUOTE ]

Right. Then what's the big deal if the sites just start issuing foreign checks? Maybe TPCEO can answer this or you can. I mean from what I understand a lot of the panic in sites issuing checks is they need a provider (i.e. bank) that will accept them.

tangled

01-19-2007, 08:35 PM

[ QUOTE ]
It works for TruePoker.

(The UIGE Act related only to deposits and then only to covered businesses, which are "in the business of betting or wagering". A purely poker site neither bets or wagers.)

[/ QUOTE ]

So, neteller is still processing transactions for US players as long as they are to poker sites and not to gambling sites?

I know you like to make the distinction between poker sites and gambling sites, but unfortunately the people at the banks do not. I can't believe a bank would deny a check from, lets say bodog, but accept one from Stars simply because Stars only offers poker. Is that really what you are saying?

N 82 50 24

01-19-2007, 09:03 PM

TruePoker CEO

01-20-2007, 12:13 AM

No, where would you think I said that ???

The distinction is that an entity which is in the business of betting or wagering falls under the UIEG Act. That is not a poker business model.

Secondly, the UIGE Act covers deposits, not cashouts.

What business decisions Neteller or any other company may make are not in my control.

We all would have preferred Neteller had stayed in the US market. Their reluctance to do so was understandable.

permafrost

01-20-2007, 12:45 AM

[ QUOTE ]
No, where would you think I said that ???

The distinction is that an entity which is in the business of betting or wagering falls under the UIEG Act. That is not a poker business model.

[/ QUOTE ]

Tell us more about this business you are in that deals poker, but includes NO betting or wagering.

chicagoY

01-20-2007, 03:21 AM

Why wouldn't our banks except cash from foreign banks? They do it all the time. It won't say UB on them.

jupiterpig

01-20-2007, 03:25 AM

[ QUOTE ]
[ QUOTE ]
If the sites start cutting checks from foreign banks, is this a problem? Will American banks accept them? From what I've read from a few minute google search, you can usually get your bank to cash them, but it's a pain. Does anyone know more?

[/ QUOTE ]

The stars checks do say "US BANK" on it. Looks really cheesy to be honest, but as far as I can tell it's taken from a US bank account. Can't vouch for any other companies checks. American banks still have to accept foreign checks, global trade would be impossible if not. Our government might be stupid, but it's not THAT stupid.

[/ QUOTE ]

On the poker stars site it says that the US bank that they do their checks with is Bank of America...so i think u are good

rokstedy

01-20-2007, 05:27 AM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
If the sites start cutting checks from foreign banks, is this a problem? Will American banks accept them? From what I've read from a few minute google search, you can usually get your bank to cash them, but it's a pain. Does anyone know more?

[/ QUOTE ]

The stars checks do say "US BANK" on it. Looks really cheesy to be honest, but as far as I can tell it's taken from a US bank account. Can't vouch for any other companies checks. American banks still have to accept foreign checks, global trade would be impossible if not. Our government might be stupid, but it's not THAT stupid.

[/ QUOTE ]

On the poker stars site it says that the US bank that they do their checks with is Bank of America...so i think u are good

[/ QUOTE ]

This begs the question, would the US then step in tell BofA that their relationship with PokerStars in this sense is illegal and have it rescinded?

ChexNFX

01-20-2007, 05:39 AM

[ QUOTE ]
[ QUOTE ]
It works for TruePoker.

(The UIGE Act related only to deposits and then only to covered businesses, which are "in the business of betting or wagering". A purely poker site neither bets or wagers.)

[/ QUOTE ]

So, neteller is still processing transactions for US players as long as they are to poker sites and not to gambling sites?

I know you like to make the distinction between poker sites and gambling sites, but unfortunately the people at the banks do not. I can't believe a bank would deny a check from, lets say bodog, but accept one from Stars simply because Stars only offers poker. Is that really what you are saying?

[/ QUOTE ]

...

ChexNFX

01-20-2007, 05:40 AM

I keep hearing about checks over $1000 are sent via courier. How long is the wait on this compared to regular mail(2-3 weeks I'd guess with regular)?

Ron Burgundy

01-20-2007, 06:05 AM

[ QUOTE ]
[ QUOTE ]
No, where would you think I said that ???

The distinction is that an entity which is in the business of betting or wagering falls under the UIEG Act. That is not a poker business model.

[/ QUOTE ]

Tell us more about this business you are in that deals poker, but includes NO betting or wagering.

[/ QUOTE ]

Poker only sites don't accept bets or wagers. They provide games for customers to make bets and wagers amongst themselves, for a fee.

Unabridged

01-20-2007, 06:06 AM

[ QUOTE ]
I keep hearing about checks over $1000 are sent via courier. How long is the wait on this compared to regular mail(2-3 weeks I'd guess with regular)?

[/ QUOTE ]

i got mine in about 2 or 3 days.

tangled

01-20-2007, 10:11 AM

[ QUOTE ]

The distinction is that an entity which is in the business of betting or wagering falls under the UIEG Act. That is not a poker business model.

Secondly, the UIGE Act covers deposits, not cashouts.

[/ QUOTE ]

But a financial institution is not going to make that distinction in whatever policy they come up with towards gambling sites. Neteller, the friendliest of all financial institutions to us, will not.

Your second point that UIGEA only applies to deposits not cashouts seems solid and on point.

I am not trying to flame you. I think it is courageous that you have stayed with the US player. Thank you. But this thread was about cashing checks from poker sites. Relentlessly restating a talking point that does not apply to that question is not helpful.

TruePoker CEO

01-20-2007, 01:50 PM

Yes.

Poker sites do not sit at the table and play. ALL betting and wagering is done by players. The UIGE Act even defines what activity constitutes making a "bet or wager" to include an assumption of risk on the outcome. A sportsbook and a casino assume risk when they accept or make a bet as the House. A poker site does not.

TruePoker CEO

01-20-2007, 01:58 PM

"a financial institution is not going to make that distinction in whatever policy they come up with towards gambling sites."

Even a one outer hits on occasion. If the communal price of seeing the river is boring veteran 2+2 posters, please bear with me. We are not drawing dead.

Phil153

01-20-2007, 02:01 PM

[ QUOTE ]
Yes.

Poker sites do not sit at the table and play. ALL betting and wagering is done by players. The UIGE Act even defines what activity constitutes making a "bet or wager" to include an assumption of risk on the outcome. A sportsbook and a casino assume risk when they accept or make a bet as the House. A poker site does not.

[/ QUOTE ]

The act is broader than that - it mentions people in "the business of betting or wagering" and those that transfer money to them. If you believe your interpretation about pure poker sites, then why did you send an email to your loyal players - the day the legislation was signed - saying that certain states could not continue to play on TruePoker? It appears that your actions and public statements are at odds.

Sniper

01-20-2007, 02:42 PM

[ QUOTE ]
This begs the question, would the US then step in tell BofA that their relationship with PokerStars in this sense is illegal and have it rescinded?

[/ QUOTE ]

Stay tuned to this bat channel...

NapoleonDolemite

01-21-2007, 05:36 AM

I'm not sure the U.S. government is going to go to such great lengths to keep you from bringing money into the country. They want to keep it from going out. My guess is that checks will be fine.

OlDusty

01-21-2007, 10:24 AM

permafrost

01-21-2007, 09:32 PM

So an owner of a bowling alley that never bowls a game himself at his business, is not in the bowling business??/?/? How about a quadriplegic golf course owner, not in the golfing business, right??

I understand the sites don't make bets however the law will still consider them in the "business" until they prove themselves to be poker sites that don't allow betting.

I hope your theory is good, but I see less than a one outer.

montechristo

01-22-2007, 03:07 AM

i recently tried to cash a check from a lesser known poker site, the funds came from a bank in the cayman islands. the amount is 15k and I have been put on an "indefinite hold" for security purposes by the bank and by the department of homeland security. it could be months before my funds are released. i gotta pay rent. whats a guy to do?

curious123

01-22-2007, 03:26 AM

Monte, what exactly have they told you? Did they actually say it could take months?

This is something I've been worrying about. People are quick to point out how many zillions of paper checks are processed every day, but how many of those zillions originate internationally? How many of those originate overseas? And how many of those originate in places like the Caymans, Antiugua, or Cyprus?

fish2plus2

01-22-2007, 08:51 AM

[ QUOTE ]
i recently tried to cash a check from a lesser known poker site, the funds came from a bank in the cayman islands. the amount is 15k and I have been put on an "indefinite hold" for security purposes by the bank and by the department of homeland security. it could be months before my funds are released. i gotta pay rent. whats a guy to do?

[/ QUOTE ]

USA sucks huh?

morphball

01-22-2007, 12:18 PM

[ QUOTE ]
Yes.

Poker sites do not sit at the table and play. ALL betting and wagering is done by players. The UIGE Act even defines what activity constitutes making a "bet or wager" to include an assumption of risk on the outcome. A sportsbook and a casino assume risk when they accept or make a bet as the House. A poker site does not.

[/ QUOTE ]

Well, no disrespect to you intended, but your interpretation of this Act is bogus. The act outlaws the facilitation of placing bets or wagers on-line. The fact that players are wagering against each other does not change the fact that the on-line pokerroom is facilitating this.