Stars Paper Check Monitoring Thread

[SomethingClever]

I'm pretty sure Stars checks are drawn on a US-based Bank of America account. I don't think you'll have a problem.

[LearnedfromTV]

[ QUOTE ]

Also, I emailed Stars today to ask that my withdrawal options be changed so I don't have to withdraw the most recent deposit back to neteller (obv) so that I can request paper checks, and I asked if paper checks were still viable. I'll post a response here when I get one.

[/ QUOTE ]

Here it is:

Hello Tom,

Thank you for your email.

As you may be aware, Neteller is no longer a deposit or cash out
option.
If this appears as your cash out option, please disregard this, a check
will be send instead.

We appreciate your understanding.

Regards,

Libertad
PokerStars Support Team

--------------------------------------------------

I went ahead and put the request in. It gave the standard "the first $X will go to neteller" message, but based on this email I expect a check for the full amount (not the full amount in my account, the full amount of the withdrawal - I'm not bailing just coincidentally getting a check right now). Will post when I receive it.

[Osprey]

So what's the strategy gents? Hold the money in the sites, or try to get it out now while the check cashing is still available?

[Prodigy54321]

requested $1100 check yesterday to NJ in the US...I'll let you know when/if I get it.

[flafishy]

[ QUOTE ]
So what's the strategy gents? Hold the money in the sites, or try to get it out now while the check cashing is still available?

[/ QUOTE ]

I have a sufficient roll on Stars and the rest of my bankroll in my checking account at the moment. By sheer luck of timing, I withdrew all my funds from Neteller last week, just before the [censored] hit the fin.

Anyway, I'm planning on maintaining status quo for now. Play on Stars with the money I have in that account and just wait to see what the options are after things settle down.

[dnord]

[ QUOTE ]
So what's the strategy gents? Hold the money in the sites, or try to get it out now while the check cashing is still available?

[/ QUOTE ]

It seems like a lot of people are taking their money out because they think it'll be stolen / locked up forever. It is looking more and more like we are in a week-long / month-long window of inconvenience, and not looking down the barrel of the second great depression.

If I didn't need access to some of the cash I had tied up online, I can't imagine that I'd want to wait in line, sit in the sites' lines, sit in the new processor's queues, wait for a check, or put any of it "at risk" by trying to transfer it right now.

On the other hand, if I really did need access to that money, I can't imagine I would let what's going on this week stop me from doing what I needed to do, in accordance with how badly I needed the money.

Taking it out just to take it out is a bad idea. From everything we've heard, it's going to be harder to get it back in than get it out again.

[Markusgc]

Hey, I found this post in the Legislation forum

Success!

Actually, you might have to go up like 2. Sorry.

[LearnedfromTV]

[ QUOTE ]
[ QUOTE ]
So what's the strategy gents? Hold the money in the sites, or try to get it out now while the check cashing is still available?

[/ QUOTE ]

It seems like a lot of people are taking their money out because they think it'll be stolen / locked up forever. It is looking more and more like we are in a week-long / month-long window of inconvenience, and not looking down the barrel of the second great depression.

If I didn't need access to some of the cash I had tied up online, I can't imagine that I'd want to wait in line, sit in the sites' lines, sit in the new processor's queues, wait for a check, or put any of it "at risk" by trying to transfer it right now.

On the other hand, if I really did need access to that money, I can't imagine I would let what's going on this week stop me from doing what I needed to do, in accordance with how badly I needed the money.

Taking it out just to take it out is a bad idea. From everything we've heard, it's going to be harder to get it back in than get it out again.

[/ QUOTE ]

I really think there's no reason for any kind of panic. If you have excess money on Stars and need it or want to move it to an interest bearing account (make a regular withdrawal), there's no reason not to. I just did so yesterday. Otherwise, there's no reason to take money off. Taking money off might take a bit longer to process right now because others are panicking, but there shouldn't be a run-on-bank effect because Stars holds all funds in segregated accounts.

I agree that withdrawing everything is a bad idea because it may be harder to get money on later.

It sounds like paper checks are a pretty straightforward and easy option; I have no idea why people are freaking out so much about Neteller; there may be more issues down the road but for now I don't see why anything changes. Keep playing, request a check when you need money. Or use epasseporte or another option when it becomes available. I think it's hilarious that there's that long "epassporte is the only option!" thread when paper checks are so simple. I know internet money movement is convenient, but paper check is a fine option. I guess I'll have to see how long it takes for my check to arrive before I really get a sense for the new state of things, but when Stars says a week max I believe them, and that should be fine.

Based on the way the law is written, cashing out paper checks should always be an option (Neteller is choosing to eliminate transactions in both directions, that doesn't mean the law is focused on withdrawals. It isn't; it is focused on deposits). If depositing gets more difficult for everyone then we'll have a broad poker economy issue, but maybe not as bad as it seems given that there are plenty of non-U.S. losing players.

[KentuckyWildcats]

I cashed out over 1k from Stars on Wed. of this week. It was at my house via Fedex Friday morning. They did not call me, I just had to sign for it at the door. I went to US Bank on Saturday morning and cashed the full check, no holding in my account. I had no problems at all FWIW.

[MicroBob]

I want to ask from what bank and where did Stars cut the check.

But perhaps because the DOJ is so hyper these days it might not be such a hot idea to post the name of the bank. The walls have eyes you know.

That's good to hear that it was so convenient for you.

I really didn't think the paper-check thing was ever going to be a problem. But the issues that Bodog and FT seemed to be having with all this did have me a bit concerned.