Quote:
Originally Posted by austintx
Khan,
When do u think the payout should speed up to normal? Your words have a lot of credibility and I respect you. I have been quite concerned about the situation, but didn't give up on them mostly because I believe what you said. But now the holiday season is way over and Super Bowl is over too. What could be the reason that it still takes so long to get paid. I am still waiting for my check requested more than one month ago.
Well, we'd have to define "normal" first. With regard to the speed of payouts, they are slower than I'd like and as I've spoken to Full Flush Management in person about the e-wallet speeds, I can tell you that they'd like faster turn around times as well.
Generally speaking, there are a number of things that can be done to speed this up, but the crux of the problem for all poker sites that are majority US-friendly/USA customers sites more or less looks like this:
Ewallets are net withdrawing payment processors. That means that the money that is deposited on ewallets is insufficient to cover the withdrawals through those ewallets. This mainly being due to European/ROW grinders winning more than they deposit, and fewer net depositing recreatitonal players depositing via ewallets.
As such, majority US friendly sites end up having to constantly bank wire funds to ewallets such as Skrill, Neteller, EcoPayz etc. Of course in order to bank wire such funds to cover withdrawals, those funds have to be moved from whatever source they came from.
Thus, there are 2 slow points in the process - 1) getting funds from the 3rd party processor 2) sending international wires back to the ewallets.
With regard to Full Flush, they very likely need to streamline and optimize this process in order to pump out faster ewallet withdrawal times (I imagine that getting more Euro/ROW fish would speed up turnaround times as well). The negative part about not doing so is that it of course looks to be a lack of funds issue, when in reality it is likely just a local liquidity/speed of funds movement issue.
Quote:
Originally Posted by borg23
requested a money gram withdrawl last wed or thurs and received the info today
don't have much left on the account and would have to see other methods speed up a ton before i played more on here
As I stated answering the question above, this is also relevant. Cash payouts at US-friendly sites are so fast because cash deposits are typically net depositing processors (i.e. lots of recreational players deposit this way). The cash processors thus have more than enough funds on hand at all time to send out withdrawals and the US-friendly sites don't have to constantly send them money to cover the differences.
I hope that gives a better understanding of why processing can vary so much at majority US sites.
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Kahn