October 11, 2006
Firepay calls it quits in the USA
by G-Rob
More fallout, here's a statement from FirePay:
SUBJECT: New FirePay policy for US account holders
On September 30, 2006, the United States Congress passed the Unlawful Internet Gambling Enforcement Act of 2006.
Once President Bush approves the Act, FirePay (www.firepay.com) 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.
CJ's Thoughts: I'm glad I signed up with Neteller instead of Firepay, but I wonder if there's pressure on Neteller to do the same. I guess that's why I pulled most of my money offline except for a small stash at FTP and Stars.
"No man is an island, entire of itself; every man is a piece of the continent, a part of the main. If a clod be washed away by the sea, Europe is the less, as well as if promontory were, as well as if a manor of thy friend's or of thine own were. Any man's death diminishes me, because I am involved in mankind; and therefore never send to know for whom the bell tolls; it tolls for thee."
Well.. for the time being all I can say is this: Up Neteller, dudes...
Let me know what you think of my amusing take on these mad mad legal shenanigans on my blog.
Word.
Mikey.
They are also charging a new $10 fee to process withdrawals, apparently.
Can anyone find their definition of an "online gambling site". I wonder if they include poker.
Actions like this are why I cashed out of NETeller shortly after the bill was passed. I know, NETeller hasn't said they will stop doing business with US residents yet, but I didn't want to wait for that to happen and get stuck with money tied up that I couldn't get to.
I am hoping that NETeller will take the logical (IMO) position that as long as the transaction takes place between them (not in the US) and the gaming site (also not in the US), no US laws are being broken. Thus, if I want to transfer money from PokerStars to FullTilt, I should be able to do that through NETeller as long as no money moves between my US bank account and my NETeller account. I don't have much cash in my poker accounts, so I won't miss it if it gets stuck there, but if I want to move it between sites, I hope I will be able to do that.
It's not that your money will get tied up in NETeller. Once you get the money from the online site to NETeller, there's no law that stops you from being able to cash it out. The worry is whether NETeller will start charging for withdrawals like FirePay is.
This post says Neteller will be sticking around, at least for a while. The source was the Wall Street Journal Online.
http://forumserver.twoplustwo.com/showflat.php?Cat=0&Number=7622668&an=0&page=0#Post7622668
Hey, guys, good stuff lately.
On this topic, my two pennies --- Firepay was ALWAYS scum, and they just proved it to most people's sense by implementing that withdrawal fee, quietly, a week before their leaving-the-U.S. announcement. Uh-huh; no gouge there.
As for Neteller, while they'll feel the pressure, the only factual indication has been positive, that being the insertion of that "Isle of Man" legalese in their ToC.
