• Quicktender Issues Statement About Withdrawals

    19 May 2011


    The management of Quicktender would like to make the following statement regarding the current situation with UseMyWallet/Quicktender withdrawals:’

    “We have operated a reputable & reliable payment mechanism for US customers since 2006. Our reputation is important to us, & until recently there has never been any question that players & merchants would be paid. In order to achieve this, we have built over many years relationships with payment intermediaries that share our values of honesty & integrity. In the jurisdictions from which we offer our services we are proud to be properly licensed & constituted, & have even worked with US law enforcement on occasions where criminal activity has been identified.

    However, we cannot always predict some of the vagaries of the US administration. Over the past 2 weeks we have in good faith transmitted withdrawals initiated by Quicktender account holders to beneficiary bank accounts in the US. The money left our account in Europe. It was only in response to increasing complaints from our customers that we recognised there was a problem, & asked our bank to investigate. It emerges that the money has been accumulated in our bank’s correspondent banking partners accounts in the US, & has been frozen. We suspect it is possible that these funds may be subject to a seizure order by the US authorities. We would stress that we do not have bank accounts in the US of our own, & that the funds have left our account Europe.

    It is our express intention to ensure that the funds of our account holders are safe. For this reason we have decided to suspend future withdrawals until we understand what has happened to the money that has been frozen. If we continue to transmit bank wires into the US we could find that these funds also do not reach their ultimate beneficiaries. This would simply make the problem worse.

    We ask our customers to bear with us in these difficult times. Please be assured that we have always honored our obligations in the past, & that we will make every effort to overcome these current difficulties. It is not in the interests of anybody to attempt to financially impact QuickTender further. These actions may impact the future viability of the company & the ability of the company to pay its customers. We are assessing our current exposure, & how best to reintroduce withdrawals safely.

    We would like to take this opportunity to thank our customers for their past loyalty, & to reiterate that we will take all possible steps to ensure that our customers money is secure.”

    Related News

    • 29 November 2017

      Concept Casino: Greenzorro Invests Losses For Players

      The online gambling industry has no shortage of innovators and disruptors. With the proliferation of white label casinos, freethinkers have found opportunities to apply their own concepts to create something unique and original. One of those innovators is Akis Stark of London and his creation is called Greenzorro Casino. He launched the concept for the public company in 2014.

      Read full article
    • 05 September 2017

      Wild Tornado Casino to Launch on SoftSwiss Platform

      A new online casino called, Wild Tornado, is coming to the SoftSwiss platform any day now. We haven't been able to pin down an exact launch date but we did get a look behind the scenes.  Due to licensing restrictions, players in the US, UK, and Spain will not be allowed to enter the casino but most of the rest of the world, including France, most Nordic countries, and most other Europeans and possibly players from Asian markets will be able to play there. Wild Tornado Games

      Read full article
    • 03 November 2015

      A Letter About Regulation Was Penned by FanDuel CEO

      A big scandal several weeks ago set of a big problem in the daily fantasy sports world. An employee from DraftKings used inside information not available to the public to place bets on FanDuel and win prizes that totaled in the mid six-figure range. This was obviously a big problem, and it's brought up a ton of heat with the government who are looking to step in and regulate the industry. Yet Another Call for Regulation This isn't the first call for regulation by a daily fantasy sports company.

      Read full article