Hi Hi community
I am really, and rather confused about Betfair withdrawals and hope one of you beautiful people can explain to me, please.
I make regular daily withdrawals from Betfair, FAST transactions with recipient HSBC, and have so for several years. However, today they categorised a withdrawal to STANDARD [clearance 2 Aug 2020]. The agent who was extremely helpful, but lost me in translation quoting windows of withdrawals, and that I had made to many withdrawals during a three day window, resulting in my withdrawals to be categorised as STANDARD.
Without becoming disrespectful can someone explain to to me the Betfair FAST withdrawal criteria in processing payments. I am ESOL. Student of Peoples Republic of China !!!
Stay safe
Minnie LAI
Betfair WITHDRAWALS | Confused !!!
- The Silk Run
- Posts: 975
- Joined: Mon May 14, 2018 12:53 am
- Location: United Kingdom
Seeking Plain English explanation please. Without being disrespectful.
Stay safe
Minnie LAI
Stay safe
Minnie LAI
As I understand it you are allowed 2 instant Betfair withdrawals in a 24 hr period. in other words the money goes back to your account immediately or at least within 2 hours. If you make more than 2 withdrawals in 24 hrs then the 3rd and other withdrawals take 3- 5 working days to reach your account. Hope this helps.The Silk Run wrote: ↑Sun Jul 26, 2020 8:49 pmHi Hi community
I am really, and rather confused about Betfair withdrawals and hope one of you beautiful people can explain to me, please.
I make regular daily withdrawals from Betfair, FAST transactions with recipient HSBC, and have so for several years. However, today they categorised a withdrawal to STANDARD [clearance 2 Aug 2020]. The agent who was extremely helpful, but lost me in translation quoting windows of withdrawals, and that I had made to many withdrawals during a three day window, resulting in my withdrawals to be categorised as STANDARD.
Without becoming disrespectful can someone explain to to me the Betfair FAST withdrawal criteria in processing payments. I am ESOL. Student of Peoples Republic of China !!!
Stay safe
Minnie LAI
-
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Think they also have a limit on the amount that go through as fast witdrawals, think it may be £500, anything above that takes a few days.
- The Silk Run
- Posts: 975
- Joined: Mon May 14, 2018 12:53 am
- Location: United Kingdom
Hi Hi SB
Without giving away to much darling. It was GBP 30.00, which is my daily living allowance, of which I withdraw daily to support my student grant.
Stay safe
Minnie LAI
Without giving away to much darling. It was GBP 30.00, which is my daily living allowance, of which I withdraw daily to support my student grant.
Stay safe
Minnie LAI
I use INSTANT/FAST withdrawals and can confirm this £500 limit is not the case for me.spreadbetting wrote: ↑Sun Jul 26, 2020 10:04 pmThink they also have a limit on the amount that go through as fast witdrawals, think it may be £500, anything above that takes a few days.
Last edited by Tuco on Sun Jul 26, 2020 10:51 pm, edited 1 time in total.
- The Silk Run
- Posts: 975
- Joined: Mon May 14, 2018 12:53 am
- Location: United Kingdom
Hi HI Tuco
I believe sic their is a soft / loose agreement with National, International banking institutions, and others including PayPal to administer these transactions. My agreement is with HSBC and Betfair, and their provider[s].
Stay safe
Minnie LAI
I believe sic their is a soft / loose agreement with National, International banking institutions, and others including PayPal to administer these transactions. My agreement is with HSBC and Betfair, and their provider[s].
Stay safe
Minnie LAI
- The Silk Run
- Posts: 975
- Joined: Mon May 14, 2018 12:53 am
- Location: United Kingdom
You have now explained clearly what the Betfair agent quoted. Of which I now have a far better understanding. And, I note you have previously provided support with Q&A, in my regard.ANGELS15 wrote: ↑Sun Jul 26, 2020 9:15 pmAs I understand it you are allowed 2 instant Betfair withdrawals in a 24 hr period. in other words the money goes back to your account immediately or at least within 2 hours. If you make more than 2 withdrawals in 24 hrs then the 3rd and other withdrawals take 3- 5 working days to reach your account. Hope this helps.The Silk Run wrote: ↑Sun Jul 26, 2020 8:49 pmHi Hi community
I am really, and rather confused about Betfair withdrawals and hope one of you beautiful people can explain to me, please.
I make regular daily withdrawals from Betfair, FAST transactions with recipient HSBC, and have so for several years. However, today they categorised a withdrawal to STANDARD [clearance 2 Aug 2020]. The agent who was extremely helpful, but lost me in translation quoting windows of withdrawals, and that I had made to many withdrawals during a three day window, resulting in my withdrawals to be categorised as STANDARD.
Without becoming disrespectful can someone explain to to me the Betfair FAST withdrawal criteria in processing payments. I am ESOL. Student of Peoples Republic of China !!!
Stay safe
Minnie LAI
Thank you
Minnie LAI
Your'e very welcome.The Silk Run wrote: ↑Sun Jul 26, 2020 10:45 pmYou have now explained clearly what the Betfair agent quoted. Of which I now have a far better understanding. And, I note you have previously provided support with Q&A, in my regard.ANGELS15 wrote: ↑Sun Jul 26, 2020 9:15 pmAs I understand it you are allowed 2 instant Betfair withdrawals in a 24 hr period. in other words the money goes back to your account immediately or at least within 2 hours. If you make more than 2 withdrawals in 24 hrs then the 3rd and other withdrawals take 3- 5 working days to reach your account. Hope this helps.The Silk Run wrote: ↑Sun Jul 26, 2020 8:49 pmHi Hi community
I am really, and rather confused about Betfair withdrawals and hope one of you beautiful people can explain to me, please.
I make regular daily withdrawals from Betfair, FAST transactions with recipient HSBC, and have so for several years. However, today they categorised a withdrawal to STANDARD [clearance 2 Aug 2020]. The agent who was extremely helpful, but lost me in translation quoting windows of withdrawals, and that I had made to many withdrawals during a three day window, resulting in my withdrawals to be categorised as STANDARD.
Without becoming disrespectful can someone explain to to me the Betfair FAST withdrawal criteria in processing payments. I am ESOL. Student of Peoples Republic of China !!!
Stay safe
Minnie LAI
Thank you
Minnie LAI
I believe OP is not talking about the same thing as us when we reference fast/instant withdrawalsTuco wrote: ↑Sun Jul 26, 2020 10:19 pmI use INSTANT/FAST withdrawals and can confirm this £500 limit is not the case for me.spreadbetting wrote: ↑Sun Jul 26, 2020 10:04 pmThink they also have a limit on the amount that go through as fast witdrawals, think it may be £500, anything above that takes a few days.
to clarify for fast withdrawals, you can withdraw up to and including £500.00 from a total of 2 withdrawals to Nationwide/Barclays accounts (not sure if others are avail. now but back when I asked these were the only 2 quoted to me). It works off a 24hr window in any timezone but OP was informed of a 3-day withdrawal period, and a 7-day closing period for the withdrawal to be processed, where they usually quote 2-5 days for a standard withdrawal. That suggests to me they may be using a dif. system for the bank associated with OPs account probs due to international factor.
I have not heard of fast withdrawal amount being adjusted, however, I haven't heard of anyone negotiating it either, so it may be possible.
Tuco if you end up confirming your amounts are different, could you reply with the specifics, cheers.
Out of interest I received an email a few days ago from Coral. They are introducing this faster payment system and they stated that the banks currently signed up for it are:
Barclays
HSBC
Santander
Lloyds
Nationwide
TSB
RBS
Natwest
AIB Group
Allied Irish Bank
Bank of Ireland
Ulster Bank
with more expected to follow.
Barclays
HSBC
Santander
Lloyds
Nationwide
TSB
RBS
Natwest
AIB Group
Allied Irish Bank
Bank of Ireland
Ulster Bank
with more expected to follow.