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Quick Tender Reports US Problems

By: Joe Valentino, Thursday May 19th 2011
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Quick Tender is a leading payments solutions provider to online casinos. Though it is based in Europe it remits payments from online casinos to players in many countries, including the United States. Of late Quick Tender had been receiving an increasing number of complaints from American online casino players and affiliates that their payments are being delayed. This was surprising, according to Quick Tender, because these funds had been remitted from their European bank accounts as instructed and in time.

Quick Tender investigated the matter and has released a public statement to explain what the problem really is. The public statement begins by pointing that Quick Tender has provided reliable and efficient service to the online gambling industry for several years. It adds that excellent service can be nullified by what it calls "the vagaries of the US administration". This is an obvious reference to the actions of US federal enforcement agencies that have been initiated against payment processors in the United States and have involved freezing of bank accounts. In the latest of such actions three leading US online poker rooms were directly targeted and forced to shut down.

Coming to the crux of the matter, the Quick Tender statement notes that over the last two weeks they have transmitted withdrawals initiated by their account holders to beneficiary bank accounts in the United States. Quick Tender reconfirms that the funds have left their account in Europe. It now appears that the funds have been accumulated in the Quick Tender's banker's correspondent banking partners' accounts in America and have been frozen. Quick Tender suspects that these funds could be subject to a seizure order by the US authorities.

The statement goes on to assure users that Quick Tender's intention is to ensure that the funds of account holders are safe. It has therefore decided to suspend future withdrawals until the larger picture is clear and the presently frozen funds are released. The statement reads, "If we continue to transmit bank wires into the US we could find that these funds also do not reach their ultimate beneficiaries. This would simply make the problem worse."

Quick Tender has requested its users to be patient whilst it is seeking clarification from the correspondent banks in the US where the funds are lying. In the meantime, the payments solutions provider is assessing its current exposure. It is devising how best it can restart withdrawals in a safe and reliable manner ensuring that the funds actually reach the users. Quick Tender has a large exposure in the United States and is aware that the US actions could impact the viability of the company.

Quick Tender is synonymous with UseMyWallet. Some of the US facing online casinos that accept this option are brands of the Club World group and Rushmore group.

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