Quote:
Originally Posted by Mitch Evans
I love how people are so cavalier about stuff like this. Echecks down... no biggie. Biggest most reliable processor for checks down... eh, not a problem. Personal bank accounts being closed due to an association with online gaming... find another bank; there's plenty.
This is the result of the UIGEA, and compliance is not required until Dec, so it's a bit disconcerting to have problems before the deadline for compliance. In other words, it can get a lot worse, but it's probably just best to put your head in the sand and not get things moving.
Well, just because compliance isnt required until December doesn't mean that some banks don't have their systems in place now.
Obviously losing what seems to be the big processor sucks, but we've gone through this three or four times and its always gotten resolved, its not like anything happened today that has never happened before and didnt get resolved. Looks like you can order checks again already at Tilt.
Its obviously not good, its can get worse, and it obviously shows why we need effective regulation to repeal the UIGEA. There's no evidence yet that this is anything but a processor death that we've seen many times before.