FirePay - How New Law Affects US Gamblers
Published: Wednesday, October 11, 2006 Online-Casinos.com
FIREPAY DETAILS HOW NEW U.S. LAW WILL AFFECT AMERICAN GAMBLERS
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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