Hi guys.
I read on Betfairs KYC check that they will suspend your account and ask for KYC-documentation when you reach a certain level on money earned/withdrawn at Betfair. Can anyone tell me when the limit is reached.
Betfair has suspended my account today after i have been a PC custommer for over a year, and they suspended it for no reason. I was trading when suddenly it all stopped. So when i called them they said that KYC was on it so i figured that that was the reason.
Thank you.
Account suspended for KYC reasons? Help please.
I'm pretty sure you can't withdraw a thing without completing the KYC.
http://kyc.betfair.com/index.html
But it could be anything else that caused the suspension. You will need to speak to Betfair.
http://kyc.betfair.com/index.html
But it could be anything else that caused the suspension. You will need to speak to Betfair.
-
DKDaytrader
- Posts: 18
- Joined: Wed Jun 13, 2012 10:57 pm
I know, this is where i read about it also. But i havent done absolutely anything except from trading with the account. So i cant see a reason why its suspended. I called Betfair but they couldnt even help me. They told me it was with the KYC department.
I just need to know where the limits are for when they start asking about to complete the KYC check. I havent completed it yet. Its written on that site that they will ask you to complete the KYC check when a limit of withdrawals is reached. But it doesnt say where the limit is.
So they have pretty much just suspended my account for no reason, and without giving me a reason, and when you call them they cant give a reason or tell me where the limit is.
We are not talking about the australian account.
I just need to know where the limits are for when they start asking about to complete the KYC check. I havent completed it yet. Its written on that site that they will ask you to complete the KYC check when a limit of withdrawals is reached. But it doesnt say where the limit is.
So they have pretty much just suspended my account for no reason, and without giving me a reason, and when you call them they cant give a reason or tell me where the limit is.
We are not talking about the australian account.
-
DKDaytrader
- Posts: 18
- Joined: Wed Jun 13, 2012 10:57 pm
And one more thing, they took away just around 1000 pound from my account. So i called again and asked why, they said it was Premium Charge. But i payed PC yesterday and it was not near 1000 pounds.
They again couldnt tell me why.
They again couldnt tell me why.
-
DKDaytrader
- Posts: 18
- Joined: Wed Jun 13, 2012 10:57 pm
A KYC check is not the problem, i can give them that tomorrow.
The problem is that they have suspended my account, taken 1000 pound from it and left me withour a reason. When i call them they just tell me that its left with the KYC department and they will contact me. Its not like i have pennies on my account so i can just go to bed now and dont think about it.
I am trying to find a reason on my own, and i understand that a reason could be that they need an KYC check. But on their site it doesnt say when the limit is reached before they ask for one and when you call them they cant tell you.
I need to know if others have had the same experience?
I even lost my last trade because they just suspended it in the middle of everything leaving me with a gamble.
Thank you.
The problem is that they have suspended my account, taken 1000 pound from it and left me withour a reason. When i call them they just tell me that its left with the KYC department and they will contact me. Its not like i have pennies on my account so i can just go to bed now and dont think about it.
I am trying to find a reason on my own, and i understand that a reason could be that they need an KYC check. But on their site it doesnt say when the limit is reached before they ask for one and when you call them they cant tell you.
I need to know if others have had the same experience?
I even lost my last trade because they just suspended it in the middle of everything leaving me with a gamble.
Thank you.
Im obviously missing the point here 
But they have given you a reason why your account has been suspended haven’t they ?
Because of the KYC department.
So im sure if you do the KYC checks then they will reopen it again.
I agree Suspending your account is not the best way of doing things
but that’s Betfair for you, since when have they been fair.
Suspending of accounts has happened to people before, for various reasons Kyc checks ,suspected pc avoidance, other security reasons etc.
Im Not sure what the criteria for requesting
kyc checks is, but you've clearly reached it and been selected and it's unlikely you will be able to use your account again until you complete it.
Unless you are a quite new customer im actually quite suprised you have got this far without doing it,
i did mine about 4 years ago now i think.
Have you been asked to do it before ?
As for the missing 1000-00 then i guess only Betfair can help with that.
But they have given you a reason why your account has been suspended haven’t they ?
Because of the KYC department.
So im sure if you do the KYC checks then they will reopen it again.
I agree Suspending your account is not the best way of doing things
but that’s Betfair for you, since when have they been fair.
Suspending of accounts has happened to people before, for various reasons Kyc checks ,suspected pc avoidance, other security reasons etc.
Im Not sure what the criteria for requesting
kyc checks is, but you've clearly reached it and been selected and it's unlikely you will be able to use your account again until you complete it.
Unless you are a quite new customer im actually quite suprised you have got this far without doing it,
i did mine about 4 years ago now i think.
Have you been asked to do it before ?
As for the missing 1000-00 then i guess only Betfair can help with that.
-
DKDaytrader
- Posts: 18
- Joined: Wed Jun 13, 2012 10:57 pm
Hi Freddy.
Thank you very much for the info. It eases the pressure of a bit.
I can give you details on how much i have earned on a short period but thats going to be in a private message then, then you can give me a professional advice on if i you think that i have reached the limit or not.
I havent been asked for KYC before and havent done the KYC. For me KYC has been the pain in the ass all way long. I wanted to do it but never really wanted to send in all these documents so i just left it there and it wasnt really like i needed to collect the australian markets.
So when you earned enough, they did the same thing to you and asked for the KYC procedure or what?
Thank you very much for info.
Thank you very much for the info. It eases the pressure of a bit.
I can give you details on how much i have earned on a short period but thats going to be in a private message then, then you can give me a professional advice on if i you think that i have reached the limit or not.
I havent been asked for KYC before and havent done the KYC. For me KYC has been the pain in the ass all way long. I wanted to do it but never really wanted to send in all these documents so i just left it there and it wasnt really like i needed to collect the australian markets.
So when you earned enough, they did the same thing to you and asked for the KYC procedure or what?
Thank you very much for info.
-
DKDaytrader
- Posts: 18
- Joined: Wed Jun 13, 2012 10:57 pm
And no they havent given me any reason why the account is suspended, thats what i am trying to find out. But when i called Betfair they told me it was with the KYC department so they couldnt give me the reason either.
they must have sent you a few emails with warnings of closing account and you ignored them. It's not something out of the blue. In this case you should play by their rules. Nobody on this forum can help you. Just contact kyc department and follow their instructions. that's all there's to it.
DKDaytrader you keep saying Betfair haven’t given you a reason, but then you say they have told you the issue is with the KYC department.
So to me they have and it would seem you simply have to complete your kyc checks to get your account back open.
But you will have to ask them to be sure.
I carnt remember tbh if I did it voluntarily or they asked me to do it, it was a long time ago now.
But it doesn't really matter if you think you should have to do it or not im afraid, they have asked you to do it, for whatever reason and i doubt they will change there minds.
Everyone has to do it at some point not a big deal really, although obviously it's unfortunate they think the best way of getting things done is suspending accounts.
So to me they have and it would seem you simply have to complete your kyc checks to get your account back open.
But you will have to ask them to be sure.
I carnt remember tbh if I did it voluntarily or they asked me to do it, it was a long time ago now.
But it doesn't really matter if you think you should have to do it or not im afraid, they have asked you to do it, for whatever reason and i doubt they will change there minds.
Everyone has to do it at some point not a big deal really, although obviously it's unfortunate they think the best way of getting things done is suspending accounts.
Last edited by freddy on Thu Mar 14, 2013 11:08 pm, edited 1 time in total.
Oh no. Bad news. I was thinking and hoping that Betfair would had calmed down and not being so aggressive as they were when they introduced the 60% punishment, suspending and taking money from people's accounts, for example from me a huge sum.
In the beginning of Betfair they created a fair playground for people who wanted to play, taking commission from the winners. But that, is long time ago. Betfair started to be jealous and greedy. They are doing and can do very bad things to their customers because they lack competition. Nowadays I think Betfair even is playing on the playground and making the rules very unfair that they are in a better position compared to the other competitors that have a lot of restrictions, for example.
Imagine a situation that the arranger of a 100 m race suddenly himself is there running (most of runners without knowing it) and starting 20 meters before others that have 20 kg rucksack to carry! And if he nevertheless will not win the race he punish the winner with 60%. This also most of the runners, from whom the prize money have been collected from, don't know about .
In the beginning of Betfair they created a fair playground for people who wanted to play, taking commission from the winners. But that, is long time ago. Betfair started to be jealous and greedy. They are doing and can do very bad things to their customers because they lack competition. Nowadays I think Betfair even is playing on the playground and making the rules very unfair that they are in a better position compared to the other competitors that have a lot of restrictions, for example.
Imagine a situation that the arranger of a 100 m race suddenly himself is there running (most of runners without knowing it) and starting 20 meters before others that have 20 kg rucksack to carry! And if he nevertheless will not win the race he punish the winner with 60%. This also most of the runners, from whom the prize money have been collected from, don't know about .
-
DKDaytrader
- Posts: 18
- Joined: Wed Jun 13, 2012 10:57 pm
Thank you all for your response.
The thing is that i havent been warned in any way, i have never even tried to cheat with comission, for what reason? You cant change it and i am getting my cut of it no matter what.
I havent been warned, they just shut it down and deducted 1000 pounds. I am hoping that its just a KYC check though.
When i call Betfair they say that its with the KYC department now and that they will contact me but no reasons given. Not even a warning by email as one of you mentioned.
I am in the higher part of the commission paying custommers and have payed over 18.000 pound commission last year alone and this is the treatment i get? They are sending me to bet, with a suspended account with a bigger roll than the normal person dont even earn in a year, without giving me a reason?
I know this is not the place to complain, but people should hear about this story. I consider myself as a person who are in control of his feelings all the way through, but right now i am finding it hard not to be mad at the way i have been treated today.
Hopefully i will have an answer tomorrow and i will follow up on it in here so people know what the problem was if it ever happens to them.
The last comment had a good point in it, from kemabet, i deffinetly think that Betfair needs some competition. Betdaq sounds like the place to be but we are not there. I am sure they will be offering better and bigger markets as soon as the liquidity starts coming in, but what is the next step for Betdaq? I would love to see people start betting at betdaq instead so we can attract som flow there. I have started offering money on Betdaq in hope that others will follow and that betting custommers will see it as a good place to place their bets. I dont mind taking small losses here and there on Betdaq as long as i can make it go around and contribute to some money matched.
I hope others will follow. It is a long process but i think that this is the way forward. That people would stop waiting for money on Betdaq but actually start offering some prices even though it can take ages for them to get matched. Small stakes are more than welcome if you ask me.
The thing is that i havent been warned in any way, i have never even tried to cheat with comission, for what reason? You cant change it and i am getting my cut of it no matter what.
I havent been warned, they just shut it down and deducted 1000 pounds. I am hoping that its just a KYC check though.
When i call Betfair they say that its with the KYC department now and that they will contact me but no reasons given. Not even a warning by email as one of you mentioned.
I am in the higher part of the commission paying custommers and have payed over 18.000 pound commission last year alone and this is the treatment i get? They are sending me to bet, with a suspended account with a bigger roll than the normal person dont even earn in a year, without giving me a reason?
I know this is not the place to complain, but people should hear about this story. I consider myself as a person who are in control of his feelings all the way through, but right now i am finding it hard not to be mad at the way i have been treated today.
Hopefully i will have an answer tomorrow and i will follow up on it in here so people know what the problem was if it ever happens to them.
The last comment had a good point in it, from kemabet, i deffinetly think that Betfair needs some competition. Betdaq sounds like the place to be but we are not there. I am sure they will be offering better and bigger markets as soon as the liquidity starts coming in, but what is the next step for Betdaq? I would love to see people start betting at betdaq instead so we can attract som flow there. I have started offering money on Betdaq in hope that others will follow and that betting custommers will see it as a good place to place their bets. I dont mind taking small losses here and there on Betdaq as long as i can make it go around and contribute to some money matched.
I hope others will follow. It is a long process but i think that this is the way forward. That people would stop waiting for money on Betdaq but actually start offering some prices even though it can take ages for them to get matched. Small stakes are more than welcome if you ask me.
I should maybe not tell too much of my and my family’s story, because maybe Betfair is reading this forum and if they don’t like what you write they maybe will try to guess who you are and hit you hard. But there should be fair workers in Betfair and let’s hope they will read and try to make Betfair fair again.
Ok, only one example. My daughter should not be under 60% punishment, “only” 20%, but Betfair has hit her, only because she is my daughter. Yes, I have been with Betfair from the beginning and learnt how to trade. And, yes, I have showed my daughter about this, but there are no secrets that not anyone else could have told her. Back high, lay low.
We have asked Betfair if we could arrange a test situation. My daughter in a closed room trading, me being isolated from the world somehow! Of course she could become nervous in a test situation, but on a normal Saturday I am sure she would make the test even if she would be nervous and stressed. Betfair did not answer this question.
Another desperate question to somehow try to wake up Betfair was that, what if I die?, will they still keep her under 60% if she continues to make profit? Will they compensate and give back the 40% they have taken too much from her? Or will they still claim that she is an entity even if I am dead? Betfair preferred not to answer this question either. They just kept using the word entity and threatened to close my account.
Horrible and disgusting, but (Betangel or someone else) please do not use us as an example of Betfair’s unfairness when you correspond with Betfair. Our only income is from Betfair and we cannot afford them closing our accounts.
Ok, only one example. My daughter should not be under 60% punishment, “only” 20%, but Betfair has hit her, only because she is my daughter. Yes, I have been with Betfair from the beginning and learnt how to trade. And, yes, I have showed my daughter about this, but there are no secrets that not anyone else could have told her. Back high, lay low.
We have asked Betfair if we could arrange a test situation. My daughter in a closed room trading, me being isolated from the world somehow! Of course she could become nervous in a test situation, but on a normal Saturday I am sure she would make the test even if she would be nervous and stressed. Betfair did not answer this question.
Another desperate question to somehow try to wake up Betfair was that, what if I die?, will they still keep her under 60% if she continues to make profit? Will they compensate and give back the 40% they have taken too much from her? Or will they still claim that she is an entity even if I am dead? Betfair preferred not to answer this question either. They just kept using the word entity and threatened to close my account.
Horrible and disgusting, but (Betangel or someone else) please do not use us as an example of Betfair’s unfairness when you correspond with Betfair. Our only income is from Betfair and we cannot afford them closing our accounts.