Quote:
Originally Posted by Sabice
Quote:
Originally Posted by LatestLines2
Are you sure it cleared? I use BOA and they put the money in my account the day after i deposit it (this is what happened in February) only to take it out on the fifth day + a penalty for bounced check.
I assumed since they put the funds in my account that it cleared. I must have been mistaken I remember reading something that checks take several days to clear and I was surprised the money was in my account today. So I assume the money will be taken out of my checking account in a few days then. Considering the check was from the same bank the bounced checks are coming from.
Most of the time funds electronically clear during overnight ECH processing, but sometimes there is a delay. Banking regulations require that all funds be made available within a short period of time (can't recall exactly, but something like 1-2 business days) if the deposit doesn't immediately clear or bounce, but the bank can and will reclaim those funds if the check eventually does bounce. This is standard behavior, and I would strongly encourage any of you receiving checks during this time to be wary -- unless you have a significant cushion in your account already, leave the funds in the account for at least a week lest you risk the bank coming after you for a shortfall.
Quote:
Originally Posted by lkjackson321
Their accounts froze? Do you mean froze like fulltilt froze where they will not pay anyone?..Damn
This is not unusual in the US online poker world for the past several years, since UIGEA was first passed (even before it went into full affect). Even in their US heyday PS and FT had payment processors and funds seized on a fairly frequent basis, and checks would bounce. The difference being of course that their support was stellar and they not only quickly rectified the situation when it happened, but often compensated with bonus funds for the player's inconvenience.
The fact that processors get seized and checks occasionally bounce should not be surprising any US players who have been around for awhile, but what is disappointing is Lock's sluggish reaction when it happens.