Pros/Cons of Deposit/Withdrwal Options for US Cusotmers

[OldNantucker]

1. Neteller - use them until you read official announcement that they will not do business with US (which may never happen). Pros: If they stay, we're OK. Even if they bail, there will be a grace period to get your cash out (see Firepay 10 day to withdraw rule)so money is safe. Cons: Us govt may ban deposits to them when defining regulations in next 270 days.

2. Set up a Canadian address through Mailboxes etc (just need to FAX them info). Cost :$175 per year. Then travel to Canada and set up acocunt at any reputable bank. Pros; can use neteller by changing your mailing address and linking acct to your new Canadian bank Cons: Expensive and inconvenient. I think Poker sites will figure out a better plan.

3. Set up off shore bank account online. Search net for company that can set up account for you and explain procedures. Pros: totally legal, easy access to cash Cons: becomes dicey only if transactions are for illegal purposes but as of now, online poker is not illegal.

4. As long as poker sites remain open to US customers (Full Tilt, World Poker Exchange, Ultimate Bet, Bodog etc.), they will find a way for us to deposit and withdraw money. Keep the faith - it's a 12 billion dollar business.
They are not going away.

[autobet]

[ QUOTE ]

2. Set up a Canadian address through Mailboxes etc (just need to FAX them info). Cost :$175 per year. Then travel to Canada and set up acocunt at any reputable bank. Pros; can use neteller by changing your mailing address and linking acct to your new Canadian bank

[/ QUOTE ]

Are you sure Americans open Canadian Bank Accounts?

[OldNantucker]

Yes - contacted Royal Bank of Canada and Bank of Montreal - just need drivers license and passport.

[Vern]

[ QUOTE ]
Yes - contacted Royal Bank of Canada and Bank of Montreal - just need drivers license and passport.

[/ QUOTE ]
Could you provide the contact info please, PM if you want. When I went through their web site they reported they would only open accounts for US citizens that had residency status in Canada. Thanks.

[OldNantucker]

call the specific branch where you want to open the account to confirm.

[Vern]

[ QUOTE ]
call the specific branch where you want to open the account to confirm.

[/ QUOTE ]
OK, I will be in Ontario soon, I will call ahead and report how I make out.