Echecks UIGEA - Has the UIGEA Affected Echecks?
The Unlawful Internet Gambling Enforcement Act went into effect on June 1, 2010. Until that point, compliance was on a voluntary basis as financial institutions were given some time to put their compliance measures in place.
Many have been asking what affects the UIGEA has had on echecks. Short answer, not much.
There were initially a few reports that PokerStars echecks were having a few problems, but those issues appear to have been very isolated and not a problem as a whole. It was expected that echecks would be relatively unaffected by the UIGEA. A statement by the President of the American Bankers Association prior to the official implementation of the law revealed that banks would not realistically be able to restrict deposits using checks and wires. Since echecks work very much the same as paper checks with regard to processing final payments, it was expected that echecks would enjoy the anonymity that paper checks were expected to have.
Be sure to see our complete guide to echeck poker sites.
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