Trading abroad

[Archery1969]

Most bookmakers have clauses in their Ts and Cs that allow service charges to be taken from any account unused for a period of time until the balance reaches £0. I assume this is specifically to deal with forgotten and deceased accounts.

The gambling commission should kick their butts of those kind of T&C's.

Betfair have, I think a 13-month account inactivity charge if you don't use it (something I always worry about ). I'm sure it's just to stop people from using their account to hide money from the wife or other purposes. It's not inconceivable that interest rates could drop so low that banks would have to charge you for looking after your money.

Come on Derek who you hiding money from ?

Banks charge me to look after my money ?, fcuk that, do what my nan did, under the bed then.

[jamesedwards]

Most bookmakers have clauses in their Ts and Cs that allow service charges to be taken from any account unused for a period of time until the balance reaches £0. I assume this is specifically to deal with forgotten and deceased accounts.

The gambling commission should kick their butts of those kind of T&C's.

To be fair to Betfair from memory I think it says these charges remain always repayable on request.

[wearthefoxhat]

Most bookmakers have clauses in their Ts and Cs that allow service charges to be taken from any account unused for a period of time until the balance reaches £0. I assume this is specifically to deal with forgotten and deceased accounts.

The gambling commission should kick their butts of those kind of T&C's.

To be fair to Betfair from memory I think it says these charges remain always repayable on request.

Sounds similar to what the bookmakers call "sleepers".

ie: Before computers came in, any betting slip not claimed within a month, would be sent off to head office with a record written, kept in house. If anyone came in after that time with a betting slip, and phone call verifying amount, they would be paid. I remember the amount the bookies "made" on these sleepers were huge. Some would be settling errors, some not.