WSEX USES USA BANK?

[<mike>]

hi people ,just got a check from wsex,the check is from a bank in new orleans,can a offshore sportsbook use a US bank?im kind of nervous about cashing as i thought this was illegal.what do you think?
thank you mike

[<carl>]

yeah thats sound kinda funny .why are they operating in the USA?maybe someone else can help with this further.

[<jlpblade>]

Years ago I got paid by Bowmans with a UK bank with a NYC branch - no problem.

[chestrockwells]

You guys really need to look a bit more carefully at your checks. Why do I say this? Because this has nothing to do with WSEX or any other book for that matter. Look, if they sent you a check from a non US bank, it would take weeks and an arm and a leg for you to cash them or process them for that matter. Or your bank might flat out refuse to accept them. So, for yours and my convenience, an acct. at a US bank is used so that the above problems are avoided. Often times, on the check, will be the name of 2 banks. One with an American branch address and the other (the one they have an acct at) with no address at all. Or in lieu of the latter, you'd have an organisation or company name.
It's the same as if you went down to your local bank and said you want a "bank check" or "cashiers check" or "bank draft" sent to someone in England in Pound Sterling. Your bank would contact its branch or affiliate in Britain and issue the check from there. Why? Because if they issued it from the USA (or EEUU for the soccer followers ), your guy in England would have a helluva time with it. On the check would be your bank's name( or it's affiliates name) and then the British Bank's name and address near the bottom. No. I don't and have never worked for a bank.

[<tony>]

thanks chestrockwells,are you comfortable cashing a check under the conditions you just described?or would you like to recieve your money another way?
thanks for responding

[<JC>]

I'll explain.

WSEX doesn't have any US assets, employees, bank accounts, agents, or anything else you might think of. Never has, never will.

What you are probably holding is a bank draft. When a sportsbook deals with an offshore bank, they have the offshore bank cut bank drafts for them. The offshore bank has what they call corresponding banks around the world including the US. These are basically accounts that the offshore banks keep around the world. When a book requests a bank draft, the offshore bank cuts it on their account (the offshore's account) at the corresponding bank.

So the name at the bottom of the check is probably t he corresponding bank, the name at the top is the name of the offshore bank.

[chestrockwells]

JC, I couldn't have said it better myself. Wait a minute........I think I did say it.

[Hartley]

What are you talking about? Every time I've received a check from WSEX it was a colorful check from a bank in Belize. The thing clears through a bank in the U.S., but the actual check is cut offshore. What I find funny is that 2 unregistered people named Carl and Mark who it appears never posted before, for their first post try to slam one of the best and most well respected books in the business. What's the agenda with that?

[<frosty>]

no. what are YOU talking about. i have received checks from wsex that say bank of new york! big deal it's a correspondent account. like you're the only one who has ever received a check from them. the guys had a legitimate question and you accuse them of slamming the book. what's YOUR agenda?

[chestrockwells]

Learn how to read and interpret. This has nothing to do with ANY specific book. That is why Hartley
is making the point that he's making. The title of this thread could easily be "ANYSPORTSBOOK uses USA bank". This is my last statement regarding this silliness.