Unconfirmed rumor regarding Chexx Inc

[Palomino]

Any confirmation from UB that chexx is pulling out?

[gila]

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Any confirmation from UB that chexx is pulling out?

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No, this was my email to them (above is the response):

Hello there,

After receiving this email today about my cash out being processed via check, I have heard a rumor that chexx will no longer be providing checks to US customers. I am wondering if the check I have coming will still be viable, and if it is not, what recourse I have.

Thank you for your time,
XXXX

[LotsOfOuts69]

Boy im glad i spent the last three days paying over $100 in fees to get my money into stars.

Bye bye $100.

[mattw]

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Boy im glad i spent the last three days paying over $100 in fees to get my money into stars.

Bye bye $100.

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yikes. this is bad news for the fish. nothing new.

[toptwopear]

Any idea as to who Neteller uses?

Cancelled my EFT, can't get an ATM card, requested a check. Am I going to wait 4-6 weeks for a piece of paper?

[Fat Nicky]

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yikes. this is bad news for the fish. nothing new.

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fish usually don't need to worry abotu withdrawing money

[Entity]

FWIW, I just cashed a decent-sized check today from Absolute. No issues whatsoever.

[mattw]

nicky,

i was referring to the $100 fees for depositing.

[HSB]

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1)Many of us have relatively large quantities of money in transfer from poker sites with checks that may not be cashable or depositable by the time we get them
----1a)This leads to uncertainty as to whether or not we ever see the funds from the withdraws we have made in the last week

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Chexx pulling out of the US market should have zero impact on whether the checks they send before that are cashable. All Chexx is really doing is printing the checks. The money doesn’t belong to Chexx and the account number on the check probably doesn’t belong to Chexx.

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2)There are no viable withdraw methods available anymore if checks are not an option for the time being...EPassporte is a pain in the ass, i just got my small deposits....14 days later. So for those of us who play for a living, and unfortunately(stupidly) have a large amount of money in the sites this puts one more nail in our coffin...

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It’s not a nail in anyone’s coffin. It’s a pain in the ass like everyone in every industry has to deal with. FTP says they may be able to get their new payment processor up tonight. I’m sure every site is doing everything they can to get payment processors up as quickly as humanly possible. If you have your money on a trustworthy site you will be able to get at it as soon as the site can make that possible. Remember that they want to get things back to normal even more than you do.

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3) This is just one more step toward the perfect storm scenerio that destroys online poker for the US. We are now dangerously close to having no ways to get money to and from sites. If a few more options close to us then we are dead. The sites while promising to work on new options has not released any in the two weeks following the neteller debacle.

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Do you think you can get a payment processor up in two weeks? Hell no. Even if the contract were negotiated in the first second after the neteller pullout, there’s an interface between the two computer systems that has to be designed and tested. There’s going to be hundreds of millions, probably billions of dollars flowing through that interface so they cannot cut any corners or speed anything up and they are not—if they are competent—going to go forward until they are absolutely certain it works properly. It takes time.

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While i am not panicking, i am worried about the checks i have in transit. I have faith that the sites that have decided to keep serving us, PS, FT, UB, AP, can work something out. However each day that goes by our situation gets bleaker and bleaker, and this is prior to any of the recent bills regulations kicking in. I think in the sites find a way to circumvent the law, hopefully it will be in time.

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But it doesn’t get bleaker and bleaker. All the changes that the sites were preparing to make in response to the bank regulations now have to be made immediately. If they had the time they expected to have you’d never have known about this at all, you’d just have had to switch payment processors when the regs came out. The situation isn’t getting any worse in regards to your money. In fact, each day the sites are making more and more progress on getting their new payment processors up.

It sucks that we have to wait but that’s all this is, waiting. It’s not sinking.

[Palomino]

I cashed out from AP today too...they say it will take up to 48 hours to process....so the question is, if chexx pulls out on friday, does that mean they will work through friday, or tomorrow?