Some Sites Already Moving to Paper Checks?

[dragonystic]

I just noticed AP has a new deposit method. Nexum Financial It utilizes good ol' paper checks. I also see that FullTilt has this option now too. I don't play on there, but I think it's new to them as well.

Here is what it says on the FT page about Nexum.

"Welcome to Full Tilt Poker's Instant eChecks Quick Start Guide. Instant eChecks allows you to securely transfer money from a U.S. bank account to your Full Tilt Poker account within seconds. Instant eChecks is safe, simple to use, and fully integrated into Full Tilt Poker's software, which means, the hassles associated with credit cards and maintaining an e-wallet are eliminated."

Sounds like a direct response to the legislation. Although the Nexum site says they've been around for 5 years. I've never seen them. Any thoughts?

[Moneyline]

Nexum Financial is similar to Neteller Instacash without the ridiculous juice. You give them your bank account #, routing #, the number of your check, and how much you want to deposit. Nexum then immediately sends that money to your poker account.

Nexum will get your money to and from a poker site. It's fast, but isn't particularly user friendly. Deposit limits are ridiculously low, IIRC in the neighborhood of $200 max., and you are only allowed to make a small number of deposits in a given timeframe. They'll gradually raise your limits, but you have to make a lot of deposits before they do this. Customer service is worse than Party's and it's not close. There are fees involved, although the poker site will almost assuredly cover them.

I don't really forsee Nexum being a more effective workaround than any other 3rd party payment system. Their business seems limited to gambling transactions, and all the transfers to and from your account are clearly listed on your bank account as coming from Nexum.

[TobDog]

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There are fees involved, although the poker site will almost assuredly cover them.

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Full Tilt will charge them against your MGR, I'm sure of that.

[Zele]

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Full Tilt will charge them against your MGR, I'm sure of that.

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So think of it as a 73% discount on fees.