Pokerstars bounced checks

HarryCaray · Apr 25, 2011

Returned to my Stars account today, FYI.

Hello XXXXX,

We have been informed by our paper check processor that the following outstanding check item will not be honoured by the bank, due to the issuing bank being closed:

Transaction ID: XXXXXX
Amount: $XXXXX
Date of request: 31 Mar 2011

These funds have been recredited to your PokerStars account balance.

Please do not attempt to deposit or cash this check, as it will be returned unpaid by the bank.

The Cash Out option in the PokerStars Cashier is temporarily unavailable to allow us to prepare the technical solutions and formulate the plan and processes required to allow you to cash out your balance. Please be assured, US player balances are safe.

Providing you with the facility to cash out is our top priority right now. We will notify you as soon as this option is available again.

We apologize for the temporary delay, and sincerely appreciate your patience and cooperation, as we continue working towards providing you with a solution to cash out.

Best regards,

PokerStars Payment Services

Betallsports · Apr 25, 2011

I'm sure there's a lot more of these Out there.

This will be the norm until the Gov. gives the Ok to pay players

ParlaysStoleMyMoney · Apr 25, 2011

I had a friend call me and tell me his check bounced that he requested right before that Friday. Funny thing is, I cashed out by e-check and the money was in my account that Thursday and as far as I know everything is good with that. E-checks worked fine, but regular checks bounced.

HarryCaray · Apr 25, 2011

Betallsports said:
I'm sure there's a lot more of these Out there.

This will be the norm until the Gov. gives the Ok to pay players

Yeah just giving an update...glad to see it back in my account without me having to jump through hoops (scan check front and back and email it to them, etc.).

I received another check the other day that was ISSUED AFTER black friday...I'm wondering if it'll clear. It's a different source bank than the first check, was issued after 4/15, and I haven't gotten an email yet. I'll let you all know what happens.

HarryCaray · Apr 25, 2011

Parlays Stole My Money said:
I had a friend call me and tell me his check bounced that he requested right before that Friday. Funny thing is, I cashed out by e-check and the money was in my account that Thursday and as far as I know everything is good with that. E-checks worked fine, but regular checks bounced.

I requested this check on 3/31, put it in my bank on 4/7...it didn't bounce til 4/15...

Betallsports · Apr 25, 2011

HarryCaray said:
Yeah just giving an update...glad to see it back in my account without me having to jump through hoops (scan check front and back and email it to them, etc.).

I received another check the other day that was ISSUED AFTER black friday...I'm wondering if it'll clear. It's a different source bank than the first check, was issued after 4/15, and I haven't gotten an email yet. I'll let you all know what happens.

I'm going to guess and say that They will cover any Fees for the Bounced Check ?

ProPokerPlayer · Apr 25, 2011

WTF did u think they were going to do???????????? do you read news at all? 74 accounts in 15 countries??????? This bust didnt change the UIGEA, if anything banks are even MORE likely to refuse a check now. Stars and Tilt,etc have NO LEGAL WAY to pay you your money, congress cannot suspend the law for these 1 time payments... The checks are worthless and also the people who are getting the return letter on the other end is the DOJ.If you have a check from them just file it away but dont take it to a bank........

Your going to have to wait till a payment plan is worked out before u get a penny. 1st the sites will hand over the names and balances of all the players to the DOJ......Then congress will pass a retroactive tax on the funds, that will be deducted, then the other 15% will be sent to you probably with a form letter from the IRS.

By the way any money won in 2010 , even though sitting in an account you cant touch must be claimed as taxes.....If you havent filed them in ur 2010 return ur gonna look mighty weird picking up that check. You can amend your tax return to show it and then (ask a cpa) there is another form u fill out to show it as "uncollectable" income.........Then once you get the money there should be no penalties for paying the taxes when its recieved...

HarryCaray · Apr 25, 2011

Betallsports said:
I'm going to guess and say that They will cover any Fees for the Bounced Check ?

Yes, they said if I sent them a bank statement proving the fees they'd cover them, but my bank didn't charge me anyway cause I didn't bounce my account

HarryCaray · Apr 25, 2011

ProPokerPlayer said:
WTF did u think they were going to do???????????? do you read news at all? 74 accounts in 15 countries??????? This bust didnt change the UIGEA, if anything banks are even MORE likely to refuse a check now. Stars and Tilt,etc have NO LEGAL WAY to pay you your money, congress cannot suspend the law for these 1 time payments... The checks are worthless and also the people who are getting the return letter on the other end is the DOJ.If you have a check from them just file it away but dont take it to a bank........

Your going to have to wait till a payment plan is worked out before u get a penny. 1st the sites will hand over the names and balances of all the players to the DOJ......Then congress will pass a retroactive tax on the funds, that will be deducted, then the other 15% will be sent to you probably with a form letter from the IRS.

By the way any money won in 2010 , even though sitting in an account you cant touch must be claimed as taxes.....If you havent filed them in ur 2010 return ur gonna look mighty weird picking up that check. You can amend your tax return to show it and then (ask a cpa) there is another form u fill out to show it as "uncollectable" income.........Then once you get the money there should be no penalties for paying the taxes when its recieved...

Christ man, calm down. I knew this was going to happen but I had told some people here I got a bounced check and would update what happened. This is not a surprise to me, actually I take that back, I'm pleasantly surprised they refunded it without too much red tape.

Just giving an update.

HarryCaray · Apr 25, 2011

ProPokerPlayer said:
WTF did u think they were going to do???????????? do you read news at all? 74 accounts in 15 countries??????? This bust didnt change the UIGEA, if anything banks are even MORE likely to refuse a check now. Stars and Tilt,etc have NO LEGAL WAY to pay you your money, congress cannot suspend the law for these 1 time payments... The checks are worthless and also the people who are getting the return letter on the other end is the DOJ.If you have a check from them just file it away but dont take it to a bank........

Your going to have to wait till a payment plan is worked out before u get a penny. 1st the sites will hand over the names and balances of all the players to the DOJ......Then congress will pass a retroactive tax on the funds, that will be deducted, then the other 15% will be sent to you probably with a form letter from the IRS.

By the way any money won in 2010 , even though sitting in an account you cant touch must be claimed as taxes.....If you havent filed them in ur 2010 return ur gonna look mighty weird picking up that check. You can amend your tax return to show it and then (ask a cpa) there is another form u fill out to show it as "uncollectable" income.........Then once you get the money there should be no penalties for paying the taxes when its recieved...

Just to clarify PPP, I did not request this w/d after the DOJ stuff...2 weeks before. Just wanted to update in case there were others out there with bounced checks wondering whats going to happen. Apparently they will be refunded to your account without you having to do anything.

Ease up on the coffee and read the whole thread before you jump down my throat making me out to be an idiot for trying to w/d.

awmllc2000 · Apr 25, 2011

I didnt even try to cash mine...It was requested over a month ago. Just recieved it Saturdeay.

Dante · Apr 25, 2011

Harry..I'm guessing 3-6 months before they send refunds ..not even goimg task for one for at least 6 months myself

HarryCaray · Apr 25, 2011

Dante said:
Harry..I'm guessing 3-6 months before they send refunds ..not even goimg task for one for at least 6 months myself

My brother works in the industry as VP of a European payment processor and seems to think it will be a lot quicker than that, FWIW...Stars is one of their bigger clients.

bigbet1234 · Apr 25, 2011

Good luck gang

CujoLatte · Apr 25, 2011

Seems very interesting that it is your money and you can not get it? Do any of you have a large enough sum that 8 months would provide a bit of interest?

CujoLatte · Apr 25, 2011

I think I had 65.00 in Stars and 34.00 in fulltilt so i really dont care.......

GREENHEAD · Apr 25, 2011

ProPokerPlayer said:
WTF did u think they were going to do???????????? do you read news at all? 74 accounts in 15 countries??????? This bust didnt change the UIGEA, if anything banks are even MORE likely to refuse a check now. Stars and Tilt,etc have NO LEGAL WAY to pay you your money, congress cannot suspend the law for these 1 time payments... The checks are worthless and also the people who are getting the return letter on the other end is the DOJ.If you have a check from them just file it away but dont take it to a bank........

Your going to have to wait till a payment plan is worked out before u get a penny. 1st the sites will hand over the names and balances of all the players to the DOJ......Then congress will pass a retroactive tax on the funds, that will be deducted, then the other 15% will be sent to you probably with a form letter from the IRS.

By the way any money won in 2010 , even though sitting in an account you cant touch must be claimed as taxes.....If you havent filed them in ur 2010 return ur gonna look mighty weird picking up that check. You can amend your tax return to show it and then (ask a cpa) there is another form u fill out to show it as "uncollectable" income.........Then once you get the money there should be no penalties for paying the taxes when its recieved...

Sharp post.

GREENHEAD · Apr 25, 2011

Dante said:
Harry..I'm guessing 3-6 months before they send refunds ..not even goimg task for one for at least 6 months myself

I thought you already asked for one

Originally Posted by Dante
seems like they are still going to send us our money... just requested mine got this it went thru fine...I would go try to get it out withdraw it at the least

A check for USD 207.30 will be issued.
Credit transaction #

The check will be issued by our payment processor, NOT by POKERSTARS. If you have any questions or require further clarification please contact the customer support number detailed on the check. Alternatively, you may contact "PokerStars Cashier" <cashier1@pokerstars.com>

Please allow up to 72 hours for cashout processing.

Note: USD Checks will be delivered by regular mail and are expected to arrive within 15 business days. We strongly recommend that you deposit your check at your bank and avoid using check cashing stores.
</cashier1@pokerstars.com>

Stylez · Apr 25, 2011

i would ask for my money but i keep loosing it all , I know deposits still go through for me no problem

Dante · Apr 25, 2011

GREENHEAD said:
I thought you already asked for one

Originally Posted by Dante
seems like they are still going to send us our money... just requested mine got this it went thru fine...I would go try to get it out withdraw it at the least

A check for USD 207.30 will be issued.
Credit transaction #

The check will be issued by our payment processor, NOT by POKERSTARS. If you have any questions or require further clarification please contact the customer support number detailed on the check. Alternatively, you may contact "PokerStars Cashier" <cashier1@pokerstars.com>

Please allow up to 72 hours for cashout processing.

Note: USD Checks will be delivered by regular mail and are expected to arrive within 15 business days. We strongly recommend that you deposit your check at your bank and avoid using check cashing stores.
</cashier1@pokerstars.com>