Jeremy Enke is right – it is absurd that most poker affiliates are paid their earnings via player accounts. Many poker affiliates have sizable businesses, demanding accurate, real-time accounting for operations and tax purposes. Paying into a player account is fine for an industry that just started, but unacceptable for one that has grown up (or should have grown up) that way that online poker has.However, waiting weeks or months for a check or wire is less an issue of the poker sites, more an issue of the US governments policies. I don’t say laws, because there are none, at the Federal level, where poker is concerned. But that is a discussion for another post.Therefore, the question becomes: Are US financial institutions going to find a way to cut ties with FBME? Let’s be honest – it’s not Citi or Wells Fargo.I suppose I shouldn’t speak too soon. I don’t know FBME other than what I’ve gathered from their website and a few google searches. So it’s hard to say. But that is my biggest concern.Our CEO Chris put a few other issues up on Jeremy’s Blog.
- What about currency exchange?
- Wire Fees
- $ Back to the Rooms
Chris,To answer Q2 – standard and reasonable. The others still need answering. Currency X is an important one obviously. It appears that ASP is looking to make most of their money from affiliates withdrawing from debit cards – .6% fee and, obviously, from the interest on cash that sits in the accounts. FBME cuts them back a % I’m sure.U.S. Affiliates,Be aware that you need to file an IRS form on your foreign bank accounts. It’s no big deal. I believe the correct one is TD F 90-22.1 Check with your accountant though.Byron