Hey TPC, let us know how long it takes to receive your check. I am just curious because i will be withdrawing soon.
I ended up getting an email telling me they couldn't do a check due to updating their payment processes and encouraged me to sign up for the bitcoin option. If I signed up for the bitcoin option and make a successful withdrawal, they would credit my account with $50 in Tournament Bucks. So I went with one of the bitcoin wallets they suggested. Didn't take long to set my bit coin up and I was ready to go.
Then when I went to go use the bitcoin option to cashout, there wasn't a bitcoin option. So I had to call the Customer Service number (I just call them, because for some reason I can't do the live chat on my computer and they take a few days to respond to emails. Calling you get someone in a few minutes of holding usually.) and I tell the guy that I set up a bitcoin wallet and didn't see that option as a cash out option. He told me to hold on for a few minutes and then he had me exit my cashier and re-enter it and then I could see the bitcoin option.
So, I did this bitcoin cashout on a Friday. I thought I read somewhere that you received your funds via that option within 24hrs. 24hrs goes by and no deposit. I had a busy weekend and did noting about it. Then on Sunday afternoon I got an alert from by bitcoin wallet saying a deposit was made in my wallet. I check it out and it's good to go.
Now the tricky part is cashing out from the bitcoin wallet. There's three options I believe. The two I was looking at was a bank transfer and using your debit or credit card. I looked at the bank transfer option and it pulled up a list of banks, like 12 or so and my bank was on that list so I click on it. Then it asks my for my user name and pw for my webpage bank login. I was not comfortable with that, so I exited out of it. So the next option is using a debit or credit card. I'm not really sure how this works and briefly looking for info and being lazy, I really haven't found out how you cash out using your debit or credit card. It says you pay a small fee if you use a credit card and the debit card is free.
So, I click on the debit card option and it wants my debit card number, expiration date and cvv number. Obviously I'm not comfortable with that. So... I've opened another checking account with my bank that is isolated from my other accounts and comes with it's own debit card. I'm currently waiting on my debit card to arrive so I can use it to cashout of my bitcoin wallet.
A couple of notes, I'm a USA player using a USA bitcoin wallet. My bank does not charge me any fees for this new account or debit card. I probably would not be doing this if my bank charged any fees.
I did receive my $50 in Tournament Bucks about 48hrs after my bitcoin cashout hit my bitcoin wallet.
I will give you all an update once my other banking stuff comes in. I know this is a huge process and kind of a pain in the ass, but being in the US, there isn't much of another option that will work in a timely matter. Once I get this all set up I will be good to go for all future cashouts!
What can happen? I totally don't understand how this bitcoin is going to deposit money into my bank account using my debit card, maybe this is something new I'm not aware of. My thought's on this are, it's like a charge back, like returning something to the store. However, when I really return something at the store, my bank sees a charge from XX company for $xyz, and then sees a charge back from XX company for the same $xyz. So if that's how it works is my bank going to reject it? Hold the funds for awhile? Think this is fraud and close all my accounts? I have no clue what's going to happen! But we will see and I will keep you all updated once I have taken the next step.