Help Needed

[acoustix]

I need to get my money out of my Stars account and would prefer to get a paper check. But there is something I'm not clear on. Because of recent legislation, will my bank no longer cash paper checks from online gambling sites? I have heard from a few people that they won't, but I would like to get a straight answer from you guys who deal with this stuff everyday.

Oh, I apologize if this is covered ad nauseum in here, but searching isn't turn up an exact answer to my question. Many thanks in advance.

[Turn Prophet]

The act is allegedly supposed to cover all forms of exchange between financial institutions and online sites, but there are several outside factors:

1. I have not heard of any success/failure depositing a paper check from an online site to a bank.
2. The 270 day period for enforcement details is not yet up, so whether a bank cashes the check is somewhat discretionary... it all depends on their policy, and it's harder to go through all those paper checks as opposed to EFT's, which can be tracked automatically.

[Berge20]

Since the regulations aren't out yet, unless a bank has some volunarty policy in place already I think you would be ok.

[joeker]

Actually it'll probably be easier to cash checks then anything else in the future. They are much more difficult to track and it's unlikely the check will say "PokerStars"

[permafrost]

[ QUOTE ]
The act is allegedly supposed to cover all forms of exchange between financial institutions and online sites,

[/ QUOTE ] Payouts from a site to a bank are not mentioned in the act.