UseMyWallet and QuickTender are Officially Shut Down

UseMyWallet and QuickTender were officially taken offline today.  Now when a player goes to UseMyWallet’s website they receive this message:

The UseMyWallet service has been temporary stopped.

Players have been receiving the following notice:

Since our last email communication where we advised any funds in your QuickTender account could still be used to purchase at QuickTender accepting sites we had been working hard to reinstate our withdrawal facility and ensuring your funds where safe and secure.

However, further developments specifically relating to our main bank processing company have resulted in our accounts being frozen subject to a seizure order giving us no ability to make payments in any currency.

In light of these developments we have had no option but to discontinue the Quicktender service with immediate effect and for the foreseeable future.

At this time we are unable to confirm when or if we could make payments of remaining balances.

We will keep you advised of future relevant developments.

QuickTender Support

UseMyWallet and QuickTender were the last available widely accepted ewallet for U.S. online poker players.  Without UseMyWallet/QuickTender moving money around is virtually impossible for players in the U.S.  About three weeks ago players started reporting that they were not receiving their bank wires from this group.  At that time UseMyWallet/QuickTender made the announcement that they assumed that their transfers were being intercepted although they were not 100% sure at the time.  When the indictments were unsealed against Bookmaker, True Poker, DoylesRoom and seven others it was discovered that Chargestream LTD, the account name for QuickTender’s bank account, had two accounts seized.

This is going to make it virtually impossible for U.S. players to deposit and cash out of poker rooms and casinos.  Now the only widely accepted deposit methods for U.S. players are some random credit cards and cash transfer services such as Western Union and Moneygram.  The only cashout methods are likely to be checks and cash transfers.

This is not only trouble for U.S. online poker players but also for U.S. facing poker rooms and casinos.  This will also be trouble for Absolute Poker and UB and lowers the probability of U.S. players getting paid there.  The reason why is that the poker rooms and online casinos that accepted UseMyWallet/QuickTender had to leave a reserve in their accounts to cover chargebacks and fraud.  Typically that amount would be equal to 2-3 months worth of deposits.  In other words these businesses could be out all of the money owed to them dating back to March.  That could really hurt a small online poker room.

If you have money stuck in UseMyWallet then you now join a growing list of people with money stuck due to U.S. seizures.  When this happened to Neteller players got their money back after waiting nearly a year.   That was back in 2007 though.  None of the recent seizures, one of which dates back to November 2010, has had any resolution.  I would suggest contacting your representatives in Congress and let them know how upset that you are about this and demand that Congress instruct the DOJ to pay everyone involved.

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