QuickTender Resumes PaymentsBy: Joan Peppin, Monday July 25th 2011
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QuickTender, which also operates as UseMyWallet, is an online payments solutions provider that services the United States market. It was affected by the Black Friday events because one of the payments processors, Chargestream Ltd., used by QuickTender was indicted by the Department of Justice. That time QuickTender had assured its American customers that it had the funds in European bank accounts and would pay them in euros, but it needed time to set up the mechanics. Despite the assurances, many players were left wondering if they would get their money back.
Now those players can rest easy. There are reports at several online forums that QuickTender has begun paying out some customer balances. Actually the online payments processor had sent an e-mail to its customers about repayments on June 23. It has indicated that online casino players who want to access their funds would have to wait until August 15. But players with bank accounts in the United Kingdom, the United States and Canada have reported that they are already receiving their funds with a waiting period of about two weeks. As of now the payments are being made only to players with balances that were being held by QuickTender at the time it was compelled to halt operations on May 25. Funds that were in transit at that time are still held up. These were the funds that had been released by QuickTender but were in the accounts of Chargestream in the process of being remitted to the players. Apparently these funds were frozen in the intermediary banks at the instance of the Department of Justice.
Players who want to withdraw their balances at online casinos have to resend their banking details to the QuickTender electronic wallet via the customer support section of its website. QuickTender had requested customers to use a bank account in euros to receive their funds as it would be unable to send transfers in dollars. Current balances in dollars would be converted to euros and transmitted. QuickTender, at first, was only guaranteeing funds sent to euro denominated accounts.
A late update to this news has confirmed reports of United States customers receiving their funds to their dollar denominated bank accounts as well. These transfers are also taking about two weeks from the date of the request. Players at US online casinos need to supply a SWIFT code or BIC to receive their funds.
American online players will appreciate the carefully considered steps taken by QuickTender. If the electronic wallet had continued to remit funds under pressure from its users through the prevailing conduits, then more funds would have landed in frozen accounts. Players who are now receiving their funds will feel that the wait was worth it.
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