problem withdrawing profits from Betfair

[Mdave1]

Hi I know this a long shot, but Betfair CS unable to help after two weeks. I am unable to withdraw from Betfair when my total withdrawals are greater than my total deposits? Anyone else had this issue?

[Derek27]

It's known as a closed loop policy. However much money you've won and withdrawn, if you use a new source to make a deposit you cannot withdraw to another source until you've withdrawn your deposit amount back to the new source.

[Bog]

Hi I know this a long shot, but Betfair CS unable to help after two weeks. I am unable to withdraw from Betfair when my total withdrawals are greater than my total deposits? Anyone else had this issue?

Hi. It's a new account? I remember when I made my first betfair deposit, when I wanted to make the first withdrawal, I need it to withdrawal the same amount of money like in first deposit for security check or something like that. After that I could do withdrawals bigger than first deposit.

Derek explained better. I did'n know it's called closed loop policy

[spreadbetting]

Hi I know this a long shot, but Betfair CS unable to help after two weeks. I am unable to withdraw from Betfair when my total withdrawals are greater than my total deposits? Anyone else had this issue?

It's basically there to stop money laundering, so if you'd deposited £100 with a barclays debit and lost ,then deposited £100 with nat west and won £150. You'd only be able to withdraw £100 using the Nat west account and have to withdraw the £50 on the barclays card. Customer services can get around it by deleting the barclays funding source from your account.

[Derek27]

If having withdrawals tied to a card is a problem, just use PaySafe vouchers to make deposits. You can't withdraw to PaySafe so it's not included in the closed loop policy.

[wearthefoxhat]

You can also deposit cash into your Betfair account in any Paddy Power betting shop. (With I.D.)

https://www.matchedbets.com/blog/betfai ... wer-shops/

(You can withdraw using a Paddy Power Cash-Card too). (UK & Ireland)

https://support.paddypower.com/app/answ ... nformation

[Mdave1]

Thanks, however am long time Betfair user and it is to and from the same source, i.e. same debit card I have been using for the past two years. Betfair technical team don't have answer?

[Derek27]

Thanks, however am long time Betfair user and it is to and from the same source, i.e. same debit card I have been using for the past two years. Betfair technical team don't have answer?

What did Betfair actually say when you contacted them?

[spreadbetting]

Was it actually the technical team rather than simply the Customer Services team, as the cs team aren't much use. It's usually because an old funding source is still linked to the account, have you looked at the funding sources to check for old cards, paypal etc

[Mdave1]

Thanks spreadbetting I will ask them to look into this further.