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Thread: FIREGROUP ONE/FIREPAY TO CEASE PROCESSING UPON PRESIDENTS SIGNATURE

  1. #1
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    Exclamation FIREGROUP ONE/FIREPAY TO CEASE PROCESSING UPON PRESIDENTS SIGNATURE

    BELOW IS AN EMAIL I JUST SENT TO FIREGROUP ONE. WHICH OPERATES FIREPAY. I DID THIS AFTER READING A PRESS RELEASE BY THE COMPANY STATING THEY WOULD STOP PROCESSING TRANSACTIONS FOR U.S. CITIZENS AS SOON AS PRESIDENT BUSH SIGNS THE BILL.


    Dear Sirs,

    I presently have funds in my Firepay account and more money is in transit to my account.

    How will I be able to withdrawal my money? Will you be sending checks?

    I believe that there will be more concern on money leaving my bank account. Not money being returned. So I hope you will still allow transfers until the U.S. Banking procedures are in place which will not be immediate. Also, there will of course be money in transit and I am sure pending EFT's already received by the bank will be paid.

    They can not just stop it cold. They will have to let all outstanding transactions settle or this will be a huge mess.(Not that it is not already). I believe there will be a grace period and that a date will be issued by which all transactions must be complete.

    I am also hoping that the President will use his power to veto this portion of the Bill. Many in Congress are in opposition. As is the public.

    I believe many of us are concerned about how we will be able to get the funds out of our account. Presently, I am unable to withdraw due to several outstanding efts.

    A statement from you regarding how this will be handled will help set everyones minds at ease.



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    Poker News - FirePay Statement for Online Poker Players
    News - Firepay Makes Statement

    Please provide your support that firepay is giving up.



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    Here's a reference:
    Guardian Unlimited Business | | More web gambling firms suspend US operations

    Relevant portion:
    FireOne, which processes online credit card payments for the gaming industry, said it would immediately stop processing transactions originating from the US. It said as a result it was also restructuring its business and cost base.
    Gotta check the charts: SlotCharts.com



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    Issued by Firepays Parent Company Today:


    Company FireOne Group plc
    TIDM FPA
    Headline Further re US Legislation
    Released 07:00 10-Oct-06
    Number 2137K



    RNS Number:2137K
    FireOne Group plc
    10 October 2006


    10 October 2006

    FireOne Group plc
    ("FireOne" or the "Company")

    Statement regarding United States Internet Gambling Legislation - Update

    On 2 October 2006, the Company made an announcement regarding the passing of the
    Unlawful Internet Gambling Enforcement Act of 2006 by the United States
    Congress. The Company today announces that following the approval of the Act by
    the President of the United States, it will immediately cease to process
    settlement transactions originating from United States consumers that may be viewed
    as being related to online gambling.
    The Company expects the Act to be approved
    by the President of the United States in the immediate near term.

    As previously announced, upon becoming law, the Act will have a significant
    negative impact on the business and results of operations of the Company, and,
    consequently, the Company has embarked upon a restructuring of its operations
    and cost base.
    The Company will continue to offer its multi-currency credit and
    debit card and FirePay electronic wallet processing to the online gambling
    industry originating from non-U.S. consumers and not prohibited by the Act, and
    will consider additional card-not-present payment processing opportunities
    outside of online gambling.

    The Company's Board will continue to update shareholders as and when
    appropriate.

    - Ends -

    Enquiries:

    Weber Shandwick Square Mile +44 (0) 20 7067 0700
    Kirsty Raper / Helen Thomas



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    Then why hasn't FirePay notified U.S. account holders of this via email? That's not very professional on their part.



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    Well that was what I was waiting to hear. My online gambling is officially over. I kept hoping to hear they might stick it out until the banking regulations were written out clearly, but looks like they are pulling out. I feel like I am at my own funeral. I am already having withdrawal pains!
    Venetian



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    Quote Originally Posted by sdaddy View Post
    Then why hasn't FirePay notified U.S. account holders of this via email? That's not very professional on their part.
    I emailed them last night and in their response they made no mention of pulling out upon the President's signing.
    Venetian



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    Quote Originally Posted by venetian View Post
    Well that was what I was waiting to hear. My online gambling is officially over. I kept hoping to hear they might stick it out until the banking regulations were written out clearly, but looks like they are pulling out. I feel like I am at my own funeral. I am already having withdrawal pains!
    Neteller not an option?
    I emailed them last night and in their response they made no mention of pulling out upon the President's signing.
    That's even worse. Now I feel like U.S. customers have been misled.



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    sdaddy, no Neteller is not an option anymore for me. I was having a bad month a few months ago and closed a few casino accounts and then closed my Neteller account. What a stupid move! Temporary insanity on my part. Once you close it they won't reopen it forever. Aughhhh. I have regretted it ever since.
    Venetian



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    Quote Originally Posted by sdaddy View Post
    Neteller not an option?
    Neteller will be closing down too. Their position is no different from firepay.



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