Warning before bill goes into effect?

[pokersox112]

Are we going to get any warning before banks start stopping transactions? Or is this going to suddenly go into effect?

[mikeh1975]

very good question and one i'm wondering myself.my guess is no warning.you'll suddenly won't be able to do it anymore and word will spread right then.....

[ChexNFX]

You need to read sticky's and keep up to date. We don't know if neteller will be blocked. We don't know what the banking regulations will look like.

[MiltonFriedman]

As for banking,

You can do two things to get a warning:

1. Get off your butt and participate in forums like this, including offering comments to Treasury when the regulations are first proposed.

2. Get off your butt and keep track of the regulations progress and effective date contained in them.

[antneye]

or simply ask for an old fashioned paper check at withdrawal time.......that doesnt sound like an electronic transfer to me. Seems to me that a bank check never shows who the money is coming from.....ever pay someone with one?

[MiltonFriedman]

(Actually, no cashouts are covered, but I was trying to spin his post into something possibly productive.)

[ericicecream]

I'm sure that the regs will specify a compliance date.

Then effective date will be different for various banks as some will comply right away and some will wait till closer to the compliance date.

I'm sure we'll see posts about specific banks as they come through.

[Sniper]

As others have stated, there may or may not be warning... and there may or may not be any impact... stay tuned...

[Cooder]

[ QUOTE ]
Seems to me that a bank check never shows who the money is coming from.....

[/ QUOTE ]

Wouldn't it have a big "PokerStars" or whatever logo?

[Webster]

The banks have all said it is impossable to inforce. They were the BIG people AGAINST the bill.

They said it is like trying to stop all transaction where the person is buying dog food. There is NO WAY they can do it!