Update from Quicktender

Hello all. I just got a letter from quicktender that I thought everyone should read in case you did not receive the same thing.

We are writing to give you an update on the status of your QuickTender account balance.

Contrary to some speculation in the forums, certain funds of QuickTender have indeed been subject to a seizure order by the US authorities. We hope to advise those affected in the near future on the status of these funds. The funds were held with our processor, ChargeStream Ltdand the action is a matter that is in the public domain.

Whilst not all of our funds are affected, a significant amount has been. QuickTender is a reputable organisation, and we wish to ensure so far as we can that our account holders do not lose their funds in our care.

We are looking at how we can release funds to our account holders as soon as possible, however because of current restrictions we are unable to transmit any funds in USD.

In order for customers to have their balances refunded, at present they will need to have a currency account in Euros as we currently cannot make any payments into any USD denominated accounts. If you do not have an account in Euros we would urge you to obtain one in order to receive your funds.

At the end of this week QuickTender aims to advise further on enabling withdrawal of funds from your QuickTender Account.

Please bear with us in these difficult times as we endeavour to resolve the situation despite the severe limitations we face.

QuickTender Support TEam

It implies they have the money to pay out but only if you have a euro currency account.

Anyone care to test?

They seem to be quite open about things. I'm not a QT customer but from what I've seen, they're being transparent. Am I being naive?

Sounds encouraging. Not surprising they can't issue funds to US accounts. That's been part of the new reality for some time. Thanks for the update smv80...i hadn't received this notification.

This does NOT sound promising and does NOT sound like a solution that will get the vast majority of people that are owed money their funds....

Rick
Universal4

Quote:

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Originally Posted by universal4

This does NOT sound promising and does NOT sound like a solution that will get the vast majority of people that are owed money their funds....

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It is better then not getting anything at all from them. At least now I feel like there is at least a slim chance that I can get back some of the money that was lost. I will be happy to get an offshore acct to get my money if that is what it takes. It could be a hell of alot worse. They could avoid all contact and not even bother trying to get us our money.

What about the thousands of people that are owed a few hundred dollars?

Rick
Universal4

Quote:

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Originally Posted by universal4

This does NOT sound promising and does NOT sound like a solution that will get the vast majority of people that are owed money their funds....

Rick
Universal4

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Agreed - sounds like they are going to make account holders jump over hurdles to get "their" money - if you are unable to jump high enough you dont get "your" money!

I had several thousand in there - I still havent gotten one email from them!

Why don't they give people the option to receive a one-time check? I'm sure people would find it more desirable to deposit a euro check (even with the fees) instead of being forced to set up a euro bank account.

For what it's worth, I actually have a non-USD account that they have wired my withdrawals to for over a year, but they haven't responded to my requests to have the final balance sent there. So even if you have a non-USD account, it seems like they don't really want to part with the money.

I hope my post above, applauding QT for being transparent, doesn't **** off those of you who have got funds at risk. I guess it's easy for me to see things from a position of safety as I've got no funds there. I hope it works out for all of you - I'd hate this to happen to someone like Moneybookers.