FIREGROUP ONE/FIREPAY TO CEASE PROCESSING UPON PRESIDENTS SIGNATURE

[footdr]

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.

 

[bossplayer]

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Old / Expired Link

Please provide your support that firepay is giving up.

 

[BlackjackInfo]

Here's a reference:

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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.

 

[Professor]

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

 

[sdaddy]

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

 

[venetian]

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]

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.

 

[sdaddy]

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.

 

[venetian]

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.

 

[thelawnet]

Neteller not an option?

Neteller will be closing down too. Their position is no different from firepay.

 

[sdaddy]

Neteller will be closing down too. Their position is no different from firepay.

What do you mean? There's been no public announcement of that by Neteller. If fact I just called them today and they told me there are no current plans to leave the U.S. market.

 

[aka23]

Neteller will be closing down too. Their position is no different from firepay.

Their position sounds quite different in the statements I have seen.

 

[thelawnet]

Their position sounds quite different in the statements I have seen.

Their legal, regulatory, and listing status is identical.

Their public statements differ in tone, but in reality firepay actually had a lot more to lose by quitting the US than neteller does.

I can't see given that neteller have the same legal problems as fireone and a stronger non-US base to fall back on, that they will continue to offer their services to US citizens.

 

[venetian]

What happens if you have money in your account after 'the big day'? Will they still transfer funds TO your bank? I understand that they won't let us deposit FROM our banks. And what about if we have $$ in the casino, will they give us a heads up so we can get it out? With some casinos 24-48 hour delay in sending a withdrawal to Firepay/Neteller will they accept it and then send it on to our bank. I have several birthday offers right now and I am not sure what to do. Last year the casinos just put cash in my account, this year they are match bonus' with low wr but I would still like to take advantage of them. What should I do?

 

[Pinababy69]

Venetian, there are other deposit methods besides Neteller/Firepay. The easiest one for the time being seems to be a Netspend prepaid Visa card. Although with this legislation, I'm not sure how long casinos will still take it. I'm in Canada and use a different prepaid card, but all US posters I've seen swear by Netspend, at least for now. There is also Moneybookers, which can be funded via wire transfer, credit card (Visa, and it has to be verified first) and cashouts. I'm not sure what type of software you prefer, but there are at least 15 Micros that take Western Union. It's under the option "Money Transfer" right in the banking interface. It supplies you with a receiver name and destination, and then once you send, you go back in and type in your MTCN. The fees are a bit steep I'm sure, but it depends how badly you wish to play, lol. Myself, I use Payspark as well..for affiliate payments and cashouts..but again, this is only good for Micros. It can be funded via bank/wire transfer or CC. Once again, you must send in a copy of your CC before they will allow you to use it. Maybe some of that is helpful?

 

[footdr]

THEY WILL HAVE TO HAVE A MEANS OF SETTLING OUSTANDING TRANSACTIONS

DONT FORGET THAT IT IS GOING TO TAKE AWHILE FOR THE PROCEDURES TO BE PUT IN PLACE BY THE BANKING INDUSTRY.

I AM ASSUMING WE WILL HAVE TO CASHIN AND WITHDRAWAL FROM FIREPAY, ETC VIA CHECK. I KNOW THAT I RECEIVED A WITHDRAWAL AWHILE BACK VIA CHECK AND IT WAS DRAWN ON BANK OF AMERICA LAS VEGAS, BELIEVE IT OR NOT. AS LONG AS THE CHECKS ARE DRAWN ON NON-CASINO BANK ACCOUNTS. IT SHOULD BE O.K.

IN THE MEAN TIME THE U.S. GOVERNMENT IS GOING TO HAVE TO EXTEND A GRACE PERIOD TO SETTLE OUTSTANDING TRANSACTIONS. FIREPAY CAN BE USED TO PLAY BINGO AND AT SOME SKILL GAME SITES. I WOULD JUST SAY THAT ONCE THE BILL IS SIGNED OUR PLAY STOPS.

THERE ARE NOT ANY LEGAL WAYS TO GET AROUND THE DEPOSITS AND WITHDRAWALS. AND THE FACT WE ARE U.S. CITIZENS.

BUSH CAN VETO THE GAMBLING PORTION OF THE BILL IF HE WANTS UNDER THE LINE VETO ACT OF 2005 OR SOMETHING TO THAT EFFECT.

IF THE REPUBLICAN OR THE DEMOCRATIC PARTY WANT MY VOTE THEY BETTER HOPE HE DOES.

I AM MAD AT THE U.S. POLITICAL PRESS, THEY HAVE NOT SUPPORTED OPPOSITION TO THIS LEGISLATION AT ALL. THEY SEEM TO BE SIDING WITH THE RELIGIOUS, FAMILY AND LOBBYIST ORGANIZATIONS.

IF FRIST WAS CONSIDERING A RUN FOR PRESIDENT HE JUST SCREWED HIMSELF.

I AM VOTING FOR LIBERTARIANS OR REPUBLICAN LlIBERTARIANS.

IT IS HARD TO DISTINGUISH BETWEEN REPUBLICANS OR DEMOCRATS THESE DAYS. WE NEED SOME NEW BLOOD IN CONGRESS.

I STILL CAN'T FIND OUT HOW THE WERE ABLE TO AMEND THE BILL WITH OUT IT GOING BEFORE THE COMMITTEE ON RULES. ANYONE KNOW THE RULE THAT ALLOWED THEM TO DO THIS? I READ THE FLOOR TRANSCRIPTS AND THERE WAS ALOT OF OPPOSITION FROM BOTH PARTY MEMBERS. APPARENTLY WHAT EVER PROCEDURE THEY USED MADE IT SO THAT THEY HAD TO VOTE FOR ALL OR NOTHING ON THE SAFE PORT ACT.

 

[carramrod]

What happens if you have money in your account after 'the big day'? Will they still transfer funds TO your bank? I understand that they won't let us deposit FROM our banks.

From Firepay:
All US FirePay accounts holders will continue to be able to make purchases and receive payments from non-gambling, online merchants, as well as "Deposit From" and "Withdraw To" their US bank account.

What this means to me is that by stopping gambling transactions, they are no longer a means of funding gambling sites. Therefore Firepay will simply be another E-Wallet (like Paypal) and will be allowed to transfer to-and-from US bank accts.

 

[venetian]

Just went into my Firepay account and found this

On September 30, 2006, the United States Congress passed the Unlawful Internet Gambling Enforcement Act of 2006.

Once President Bush approves the Act. FirePay (Outdated URL (Invalid)) will no longer allow US consumer payments for online gambling merchants.

Beginning the day President Bush signs the Act, FirePay will decline any purchase transactions from US FirePay account holders at any gambling merchant site.
Ten days after President Bush signs the Act, FirePay will decline any transfer attempt made by any online gambling merchant to a US FirePay account.
All US FirePay accounts holders will continue to be able to make purchases and receive payments from non-gambling, online merchants, as well as "Deposit From" and "Withdraw To" their US bank account.

Click here for the latest news and opportunities for FirePay account holders.

** Please note:
This new policy will not affect FirePay account holders from outside of the United States
For any questions regarding these deadlines or policy, please email info@firepay.com

 

[venetian]

here is the click here for news



As a result of the recently passed Unlawful Internet Gambling Enforcement Act of 2006, US account holders can no longer use FirePay for online gambling payments, but that doesnt mean that you have to stop using FirePay entirely.

This new policy will NOT affect your ability to fund your FirePay account, make purchases with FirePay at non gambling merchants or withdraw funds to your US bank account. In fact, for your convenience, we will be publishing a list of selected non gambling merchants who accept the Firepay brand shortly.

Customers will continue to benefit from the following features:
Instant deposits Sign up, deposit funds, and transfer those funds immediately. No more waiting!
Fund directly from your bank account Never have a rejected transaction and avoid credit card charges.
Real-time access to funds Don't wait for funds to clear before you can transfer into your account.
Detailed statements Detailed online statements display all your transactions.
24/7 support Support is available 24 hours a day, 7 days a week.

Please be sure to check this page regularly for the latest FirePay news and updates.

If you have any comments or questions, for the FirePay team, please tell us.

Click here if you are an online merchant and want to know more about accepting FirePay as a payment method on your website.


The Firepay Team

 

[fathead]

Neteller is such a cash cow I don't see how they could just pull out of the US market. The US accounts for almost 90% of their business.

Maybe they will sell the US portion of their business to a private investor?

 

[mgibson99]

Maybe they will sell the US portion of their business to a private investor?

Why would anyone buy it?

 

[mgibson99]

From Firepay:
All US FirePay accounts holders will continue to be able to make purchases and receive payments from non-gambling, online merchants, as well as "Deposit From" and "Withdraw To" their US bank account.

What this means to me is that by stopping gambling transactions, they are no longer a means of funding gambling sites. Therefore Firepay will simply be another E-Wallet (like Paypal) and will be allowed to transfer to-and-from US bank accts.

For non gambling purchases, Paypal is far ahead of the curve. I suspect that the majority of the other e-wallets (Firepay, Neteller, etc) are used primarily for gambling. It will be interesting to see if they make an aggressive push into the non gaming market to challenge Paypal's dominant position.

 

[fathead]

Why would anyone buy it?

Neteller is a huge cash generator.

The gambling bill really only affects credit cards, the banks have already said that they don't have a way to block checks or electronic transfers and that it would be extremely expensive to implement such a strategy. Most banks already block credit card use for gambling purposes. The bill has a 'no penalty' loophole for the banks if they are unable to block everything.

Unfortunately Neteller is a public company. If they were still private, I imagine they could continue to operate with no problem using non credit card transactions. The key is either to take the company private or sell the US portion of the business to private investors and then focus what is left of the operation on the non-US portion of the business, expanding more into Asia.

 

[sdaddy]

Although it could have been sooner, I was pleased to see that Firepay did send notice to all US residents about this sudden decision. Also, Firepay allowed an important 10 day grace period to continue to receive payments from gambling merchants. I hope than any other money transfer service that decides to leave the U.S. market will do something similar.

 

[venetian]

Firpay is on my **it list right now. I am new with them and have a limit (weekly). When I went to deposit last night they only would allow 1/2 of my usual deposit amount. When I emailed them and asked why they said;

FirePay reserves the right to periodically adjust our funding limits due to various risk reasons.

We apologize for any inconvenience this may cause.


Sincerely,

Asadul
FirePay Customer Service Agent
Outdated URL (Invalid)
email: info@firepay.com

What??? Am I now a risk because I only have one more day to use their services??? I am so done with them. Hmmm easy for me to say since they are getting rid of me