Do large withdrawals trigger KYC?

[eightbo]

anyone know if a large withdrawal could potentially trigger a KYC check?

never been asked for paperwork til now, wondering if they'll care.

Would be my largest withdrawal lifetime if so. Maybe drip-feed withdrawals of highest successful previous w/d amt?

All advice and experiences appreciated

[jamesedwards]

anyone know if a large withdrawal could potentially trigger a KYC check?

never been asked for paperwork til now, wondering if they'll care.

Would be my largest withdrawal lifetime if so. Maybe drip-feed withdrawals of highest successful previous w/d amt?

All advice and experiences appreciated

I've never had any issue withdrawing up to £8k at a time.

[Naffman]

I received a call/voicemail from Betfair this morning after I withdrew a chunk last night - so safer gambling want to talk to you even if you win these days

[eightbo]

Yeah that's what I feared, they wouldn't even get through to me phone on file is decommissioned.

I'm leaning towards drip feed withdrawing however it's just a lot more effort, I'm a tad afraid for them to be looking closer as last time i told them on phone they recommended i close my uk account and switch to aus account if i 'now live here'. However I expect they would look the other way if it benefits them.

That's why i got thinking is there any hard rules about this stuff e.g. investigate if withdrawal >£x,
Must be some legislation around this surely, anyone know? Or os ot discretionary by BF and maybe they have their own process

Can't imagine they'd be creating extra work load for employees to call Naffman etc. if they didn't have to

[wearthefoxhat]

Drip feeding withdrawals would be better than one large one, although a safe check call seems to be just part of the process nowadays. It's your money after all and you do want you want with it.

If you are then planning to deposit a similar amount soon after, that's when the affordability process kicks in. (they have to show they are being responsible)

[jamesedwards]

If you are then planning to deposit a similar amount soon after, that's when the affordability process kicks in. (they have to show they are being responsible)

Wise words. Definitely plan to utilise your current balance so you never have to deposit again. It's the depositing that will get you.

[Kai]

I received a call/voicemail from Betfair this morning after I withdrew a chunk last night - so safer gambling want to talk to you even if you win these days

Wtf did they even want?

Perhaps they're pestering you more often since they already heavily restricted your deposits?

[Naffman]

I received a call/voicemail from Betfair this morning after I withdrew a chunk last night - so safer gambling want to talk to you even if you win these days

Wtf did they even want?

Perhaps they're pestering you more often since they already heavily restricted your deposits?

Surely a large withdrawal does not warrant Safer Gambling contacting you?

Since I missed the call Friday, they sent me an email and message on my BF account saying I have a £100 Spend Limit for the month, my automation would've exceeded that so not really sure what it means (deposit?)

Total insanity, can see why people aren't gambling anymore.

So currently on Live Chat to try and fix the 'problem' although there is no one available in the Safer Gambling team lol.

[jamesedwards]

I received a call/voicemail from Betfair this morning after I withdrew a chunk last night - so safer gambling want to talk to you even if you win these days

Wtf did they even want?

Perhaps they're pestering you more often since they already heavily restricted your deposits?

Surely a large withdrawal does not warrant Safer Gambling contacting you?

Since I missed the call Friday, they sent me an email and message on my BF account saying I have a £100 Spend Limit for the month, my automation would've exceeded that so not really sure what it means (deposit?)

Total insanity, can see why people aren't gambling anymore.

So currently on Live Chat to try and fix the 'problem' although there is no one available in the Safer Gambling team lol.

Perhaps it was increased activity on your account (if there was any?), rather than the withdrawal that triggered it? Or had you recently made a deposit?

The 'spend limit' will almost certainly actually be a deposit limit.

Good luck with the nonsense.

[Lynskey888]

What does “spend limit” mean? You can’t lose more than £100 or you can’t place more than that in bets?

[Naffman]

Wtf did they even want?

Perhaps they're pestering you more often since they already heavily restricted your deposits?

Surely a large withdrawal does not warrant Safer Gambling contacting you?

Since I missed the call Friday, they sent me an email and message on my BF account saying I have a £100 Spend Limit for the month, my automation would've exceeded that so not really sure what it means (deposit?)

Total insanity, can see why people aren't gambling anymore.

So currently on Live Chat to try and fix the 'problem' although there is no one available in the Safer Gambling team lol.

Perhaps it was increased activity on your account (if there was any?), rather than the withdrawal that triggered it? Or had you recently made a deposit?

The 'spend limit' will almost certainly actually be a deposit limit.

Good luck with the nonsense.

Yes they sent me an email on Wednesday to say 'you're staking a lot more than you usually do' - erm no Cheltenham, Aintree and Ascot I usually stake this amount - takes like 1 minute on their part to work this out.

[Naffman]

Finally got through to someone about 5.45, organised a 6pm call at about 5.50pm - the time currently is 6.43pm and no contact

[Naffman]

Got the call almost 2 hrs late (7.50pm) and line goes dead after 1m20s and then she hangs up 1m30s after that

Still waiting for the follow up but I think she's given up