Deposits at Betfair

[Alpha322]

I had to make a withdrawal the other week and now want to put the funds back
Betfair are allowing a limit, you then have to prove income etc etc . When you try to your re directed to Paddy Power. Whats going on here, now am busted for Cheltenham and dont trust making this deposit through Paddy Power. This isnt a Prop firm they calling it a Challenge

[Euler]

No idea why they are asking you to deposit through PP, that seems like an error to me.

I never withdraw much, but a deposit allowance would be by month. So it's usually safer to build up a deposit base to work with IMO.

[Alpha322]

No idea why they are asking you to deposit through PP, that seems like an error to me.

I never withdraw much, but a deposit allowance would be by month. So it's usually safer to build up a deposit base to work with IMO.

Your right Euler i withdrew to much and forgot about the deposit limit i set i dont really feel comfortable sending them my credentials again main earning slips etc feel this is quite intrusive like some of the Banks have become, i understand why they do it for out of control Gambling but to a profitable Trader it feels somewhat like a ban on your acount after making a large withdrawal after initial small deposit. I just think smaller stakes up toward Cheltenham and put the maximum deposit on top as the icing and go from there , The Paddy Power misfit part i dont know what that was about but it said come on in i said know thanks i dont even have a PP account

[LeTiss]

I see my Betfair bank as working capital. I never withdraw a large amount anymore with a view to depositing a chunk of it back later. I only withdraw pure profits for personal use. Strangely though.......despite being full-time for nearly 20 years, BF have slapped a £100 per week deposit limit on my account

[Revenant]

Where do I see any deposit limit?

[Alpha322]

I see my Betfair bank as working capital. I never withdraw a large amount anymore with a view to depositing a chunk of it back later. I only withdraw pure profits for personal use. Strangely though.......despite being full-time for nearly 20 years, BF have slapped a £100 per week deposit limit on my account

So you would be in trouble if you had a large open order and they had a outage, but yes your right i made a large withdrawal of profit more than the limit so got caught.

[LeTiss]

Yeah, that's a fair point. On a few occasions in the past, I have covered potential losses on BF from an outage, and then reinvested money made elsewhere to cover those BF outage losses.

I couldn't do that today, I'd immediately fall foul of affordability checks.

I'm sure there are many traders like that, however (touch wood) I haven't been the victim of a BF outage for a very long time now