FIREPAY DETAILS HOW NEW U.S. LAW WILL AFFECT AMERICAN GAMBLERS
(673) (11-October-2006)
10 day window for gambling transactions to clear after the new
US law comes into effect
American online gamblers found a notification from the FirePay-FireOne
e-cash processor in their accounts this week, advising them that once
the U.S. President had signed the Unlawful Internet Gambling Enforcement
Act 2006 into law, they would be unable to use the service to make transfers
to online gambling merchants.
And online gambling merchants will have a 10 day window after the law
comes into effect to settle up with players, after which transfers from
gambling merchants will be declined.
The notification confirmed earlier announcements by FireOne parent group
Optimal that once President Bush approves the Act, FirePay will no longer
allow US consumer payments for online gambling merchants.
Beginning the day President Bush signs the Act, FirePay will decline
any purchase transactions from US FirePay account holders at any gambling
merchant site.
Ten days after President Bush signs the Act, FirePay will decline any
transfer attempt made by any online gambling merchant to a US FirePay
account.
All US FirePay accounts holders will continue to be able to make purchases
and receive payments from non-gambling, online merchants, as well as "Deposit
From" and "Withdraw To" their US bank account.
The notification included a special note that ".....this new policy
will not affect FirePay account holders from outside of the United States." Readers
with any questions regarding these deadlines or the US policy can email info@firepay.com ,
the advisory says.
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