Betfair Account Restrictions & closed accounts - Getting them removed and accounts reopened
i'd bet that HMRC don't have quite so strict measures when *accepting* deposits!Mr.Teeny wrote: ↑Fri Mar 26, 2021 1:17 pmThat sounds bad and quite worrying. You have my sympathies. It seems to be deposits that trigger it, whether you are winning or losing doesn’t seem to make much difference.
You should only be subject to those sort of intrusive checks if you are buying a house, or applying for credit. Being subjected to all that, and then still being told how much you’re allowed to deposit isn’t right.
I hope this isn’t going to be the future, as this will kill the industry, though it looks as if it’s already starting to happen.
You should be able to sign a disclaimer saying that you know what the risks of gambling are, and that you are betting with your own money. Which you have clearly admitted in your post, it’s not like you don’t know what you are doing.
This gambling review is causing all sorts of problems already. By all means ban the advertising, take the logos off football shirts, reduce the online slots and casino games to pennies, not many people would argue against that. But I don’t get how these affordability checks and deciding how much somebody is allowed to bet or deposit helps anybody.
So long as the money is clean and not ill gotten , it should be up to the individual to decide how much they want to deposit and bet.
No problem Derek27. I totally agree with you. I'm a liquidity provider at the moment and have probably funded a few of you guys over the past 12 months! I have no problem with this. Nobody forced me into placing the bets - I did this out of my own free will. Where I do have a real problem is with BF acting like they own my money. Do they think I'm going to sue them an ask for the money back?! Of course not. (And btw - I'm not even a VIP member!)
That's a good point. Many people who start off losing will be the PC payers of the future. I realise the Gambling Commission is putting pressure on Betfair but they should be resisting where possible instead of simply going along with them.zippus wrote: ↑Fri Mar 26, 2021 5:50 pmNo problem Derek27. I totally agree with you. I'm a liquidity provider at the moment and have probably funded a few of you guys over the past 12 months! I have no problem with this. Nobody forced me into placing the bets - I did this out of my own free will. Where I do have a real problem is with BF acting like they own my money. Do they think I'm going to sue them an ask for the money back?! Of course not. (And btw - I'm not even a VIP member!)
That's impressive. Fair play. This doesn't fit my style because I (used to) draw down the daily winnings and only ever left the £5k bank in the account. I'm not a fan of building up big balances and it's been nice seeing the net deposits figure nudge downwards.
I withdraw monthly, and a fixed amount rather than profits. I wouldn't recommend withdrawing daily. I think Betfair may get charged by the banks for a withdrawal and they're not keen on customers who deposit and withdraw frequently, although I'm not sure at what frequency they start charging for it.zippus wrote: ↑Fri Mar 26, 2021 6:44 pmThat's impressive. Fair play. This doesn't fit my style because I (used to) draw down the daily winnings and only ever left the £5k bank in the account. I'm not a fan of building up big balances and it's been nice seeing the net deposits figure nudge downwards.
Thanks Derek. I'll give that a try if I ever get my bank back.Derek27 wrote: ↑Fri Mar 26, 2021 6:53 pmI withdraw monthly, and a fixed amount rather than profits. I wouldn't recommend withdrawing daily. I think Betfair may get charged by the banks for a withdrawal and they're not keen on customers who deposit and withdraw frequently, although I'm not sure at what frequency they start charging for it.zippus wrote: ↑Fri Mar 26, 2021 6:44 pmThat's impressive. Fair play. This doesn't fit my style because I (used to) draw down the daily winnings and only ever left the £5k bank in the account. I'm not a fan of building up big balances and it's been nice seeing the net deposits figure nudge downwards.
I withdraw every day, sometimes twice and for years nowDerek27 wrote: ↑Fri Mar 26, 2021 6:53 pmI withdraw monthly, and a fixed amount rather than profits. I wouldn't recommend withdrawing daily. I think Betfair may get charged by the banks for a withdrawal and they're not keen on customers who deposit and withdraw frequently, although I'm not sure at what frequency they start charging for it.zippus wrote: ↑Fri Mar 26, 2021 6:44 pmThat's impressive. Fair play. This doesn't fit my style because I (used to) draw down the daily winnings and only ever left the £5k bank in the account. I'm not a fan of building up big balances and it's been nice seeing the net deposits figure nudge downwards.
It's the other end I've been worried about, lloyds bank
Any idea what counts as excessive? Obviously it must be more than twice a day.Emmson wrote: ↑Fri Mar 26, 2021 6:59 pmI withdraw every day, sometimes twice and for years nowDerek27 wrote: ↑Fri Mar 26, 2021 6:53 pmI withdraw monthly, and a fixed amount rather than profits. I wouldn't recommend withdrawing daily. I think Betfair may get charged by the banks for a withdrawal and they're not keen on customers who deposit and withdraw frequently, although I'm not sure at what frequency they start charging for it.zippus wrote: ↑Fri Mar 26, 2021 6:44 pm
That's impressive. Fair play. This doesn't fit my style because I (used to) draw down the daily winnings and only ever left the £5k bank in the account. I'm not a fan of building up big balances and it's been nice seeing the net deposits figure nudge downwards.
It's the other end I've been worried about, lloyds bank
8. Deposit and withdrawal charges
8.1 Charges relating to the deposit and withdrawal of funds to or from your Betfair account are set out in the deposit and withdrawal pages within the ˜My Account section on the website. However, additional charges may apply in some cases to reflect the cost incurred by Betfair as a result of processing excessive transactions.
8.2 Please note that if you become eligible to incur additional deposit and withdrawal charges, we will contact you before any charges are paid.
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