Payments Preparing for FTP’s American Customers

Recounting money

Things are looking good for American Full Tilt Poker players who are anxiously waiting for the reimbursements to begin, and a new update has been posted on the website. The latest news is uplifting and the official website for the Full Tilt Poker Claims Administration provides those interested with comprehensive information about how the repayment process will unfold.

The latest update reads:

Notice to Petitioners Who Timely Confirmed Their FTP Account Balance

GCG is in the process of preparing payments for Petitioners who timely confirmed their FTP Account Balance. Beginning on February 13, such Petitioners may notice a zero-dollar transaction in their bank account statement that relates to the Full Tilt Poker Claims Administration. Please be aware that this is a normal part of the bank testing process in preparation for payment of ACHs. However, not all banks post these notices during the testing process, so do not be concerned if you do not receive such a notice and believe you are eligible to receive payment in the upcoming initial distribution.

Updated: 2/13/14

Those who have approved petitions expected the repayment process to begin on March 31st. They might receive the money even sooner, but they are required to complete a Unified Financial Management System Vendor Request Form. The same applies to those 30,000 players who confirmed their FTP account balances and who will receive a share of the $82 million that the U.S. Department of Justice is ready to release.

Things are more complicated for affiliates and poker professionals who will undergo a slightly different process and might not recuperate all the money they think they deserve. The distinction between regular players and professionals/affiliates has been made clear so far. The latter will also find useful information on the official website on sensitive issues such as rakeback and affiliate payments.

The Garden City Group makes a distinction between affiliates and Pros and will send separate notices to each category, with the deadline for Affiliates to submit a Petition for Remission by March 2nd. Affiliates are reminded to use the logon credentials provided in the Notice and patiently wait for the review of players flagged by FTP as Pros. Those identified as poker professionals will have 30 days at their disposal to file a petition after receiving a notice.

This is only the latest information added on the official website and more updates will be made this month and in February, as the deadline for reimbursements draws near. Additional details about the deadlines for filing petitions for all categories of Full Tilt Poker players can be found at the aforesaid website. Those interested in the summary of settlement agreement and forfeitures can also find the specifics at the bottom of the page.