UseMyWallet (UMW), also known as QuickTender, released a statement following the recent speculation that the company was in financial trouble. The statement acknowledged that issues with withdrawals to US customers exist and the company suspects the funds may have been seized by the US authorities:
The money left our account in Europe. It was only in response to increasing complaints from our customers that we recognized there was a problem, and asked our bank to investigate. It emerges that the money has been accumulated in our bank’s correspondent banking partners’ accounts in the US, and 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, and that the funds have left our account Europe.
The statement goes on to express that the company does not wish to take actions that may further increase their exposure, however; they do not indicate that they will reimburse account holders that have had funds frozen.
UMW is one of the last remaining e-wallets serving US customers for the transfer of funds to and from poker sites. Any significant delay in rectifying the current situation could severely stunt the growth of the post-“Black Friday” US poker economy.