QuickTender Statement - 7 June 2011

[Casinomeister]

This just in from the folks at QT:

"The management of QuickTender would like to give an update on the status of QuickTender account balance.

Contrary to some speculation in the forums here and elsewhere, certain funds
of QuickTender have indeed been subject to a seizure order by the US
authorities. We hope to advise those affected in the near future on the
status of these funds. The funds were withheld from our processor,
ChargeStream Ltd and the action is a matter that is in the public domain.
Whilst not all of our funds are affected, a significant amount has been.
QuickTender is a reputable organisation, and we wish to ensure so far as we
can that our account holders do not lose their funds in our care.

We are looking at how we can release funds to our account holders as soon as
possible, however because of current restrictions we are unable to transmit
any funds in USD.

In order for customers to have their balances refunded, at present they will
need to have a currency account in Euros as we can currently cannot make any
payments into any USD denominated accounts. If you do not have an account
in Euros we would urge you to obtain one in order to receive your funds.

At the end of this week QuickTender aims to advise further on enabling
withdrawal of funds from your QuickTender Account.

Please bear with us in these difficult times as we endeavour to resolve the
situation despite the severe limitations we face."

[vinylweatherman]

Some of this "speculation" came from the DoJ themselves, who seem to be telling players that the DoJ does NOT have their money, and that QT are the ones who have it.

This statement has no doubt emerged because of the speculation that the problem will cause international Ecocard customers to be exposed to the risk that their funds are not sufficiently underwritten, and may not therefore be available "on demand" should they all want them back at once.

How exactly do they propose their US customers get a Euro account? Even if they did, this would merely shift the risk away from QT to individual customers should their Euro accounts come under the spotlight as being a means to launder money.
I doubt EU based banks will simply allow any US citizen to just open an EU currency account, because if it were that easy, US players would NOT be using the likes of QT, EWX, etc in the first place, and would all have set up Euro accounts for their online gambling.

[Novemberlady1]

I wish they would just let us deposit into our casino accounts as before and at least have a chance to play with it and possibly win. Not a total loss like this is

[cpdnd31]

Why can't you deposit into casino in euro funds? then do conversion to US dollars.

[Novemberlady1]

I wouldn't have a clue how to turn what I have at QT into Euro to begin with:(

[LHofsdal]

It doesn't matter anyway, you can't even get into your quicktender account. There is no way anyone has access to their quicktender account, to even transfer money to a casino.

This is going to be interesting to see how this all plays out....Now we just wait and see.

LH

[samoas]

How exactly do they propose their US customers get a Euro account? Even if they did, this would merely shift the risk away from QT to individual customers should their Euro accounts come under the spotlight as being a means to launder money.
I doubt EU based banks will simply allow any US citizen to just open an EU currency account, because if it were that easy, US players would NOT be using the likes of QT, EWX, etc in the first place, and would all have set up Euro accounts for their online gambling.

QT knows this is an impossible scenario. They will benefit from our disadvantage and that just pisses me off!

[bpb]

Uh ... opening an offshore account from the US is not impossible ...

http://www.blackjackforumonline.com/...k_Accounts.htm

[samoas]

Uh ... opening an offshore account from the US is not impossible ...

http://www.blackjackforumonline.com/...k_Accounts.htm

Thanks for the info bpb. Much appreciated and very interesting.

Personally? Am not gonna do it. I was fortunate to whittle down most of my funds and cash out with a reputable establishment. Would I like to get my balance back? Of course! However I am not going to jump through hoops to do it. I can't justify the time, legwork and expense for what I have left. If it were the original balance, then I would attempt.

From my perspective QT should do their best to go out of their way and rectify this matter, not expect us to have to go on a treasure hunt in hopes of getting any money back.

I will wait and see how this whole scene goes down.

Christine

[felicie]

QT knows this is an impossible scenario. They will benefit from our disadvantage and that just pisses me off!

You have no idea what these people are dealing with nor do I except to imagine and it probably isn't fun for them either. This is a hobby or entertainment for us but they might be hanging in limbo somewhere waiting for their paychecks. All I'm saying is point your anger in the right direction and have a little faith in qt because everyone in this world is not out to screw you. It wouldn't do qt any good in the long run to do that would it? Try not to keep biting the hand that may be trying to give you money.