Time is running out for players of the defunct PKR site to retrieve their unwithdrawn funds. Players have until Feb. 28 to file a claim for their PKR reimbursement at PokerStars.
Emails were sent out to former PKR players, telling them to retrieve their reimbursement from PokerStars made available since July last year. Former PKR players can also visit PokerStars’ dedicated page to know how to receive the refund.
A PokerStars Group representative said:
“No player should be left unprotected and short-changed by an operator they trust. So if players do receive an email, or haven’t had the chance to log-in, we would urge that they do so before February 28. It will only take a few minutes.”
How to Retrieve PKR Funds through PokerStars
To receive the reimbursed funds, PKR players need to have a Stars account. This account is where PokerStars will send the funds to.
Any existing PokerStars account can be used to retrieve the refund. If former PKR players do not have any Stars account, they can create a new one to get their money back.
The email sent out links players to the page wherein they need to confirm their Stars account info. Once players submit their account info, PokerStars will transfer the corresponding PKR funds to the players’ Stars account.
As long as players maintain a PokerStars account with a good standing, they can withdraw their retrieved funds. Players may need to provide identification documents to follow PokerStars’ regulation procedures to verify an account.
There is no prerequisite or strings attached to the players’ money like a rollover requirement. Players can withdraw their money using any of the available payment options like bank transfer and major credit cards. The refund can also be used on PokerStars’ cash games and tournaments.
PokerStars Statement on Player Protection
The deadline given for the retrieval of the PKR refund is due to management concerns. There are still some players who have not filed for the reimbursement with the end of the month fast approaching.
PokerStars is an advocate of player protection where its management does not want anyone to lose money because of an operator’s shortcomings. Eric Hollreiser said the importance of keeping players’ funds separate from operating funds. This is a method that PokerStars follows to ensure all its players are correctly paid.
The PKR incident was not the first time that PokerStars rescued player’s funds from folded companies. When Full Tilt, UltimateBet, and Absolute Poker closed doors in 2011 and did not pay customers, PokerStars stepped in. The brand made a deal with the US Department of Justice to reimburse the three closed poker site’s players with the fines paid by the companies.
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