What is the deal with Betfair not allowing you to withdraw more than you have deposited?

Please note you cannot withdraw more to a UK Maestro debit card or a MasterCard credit or debit card than you deposited with that card. Also, you cannot withdraw anything to non-UK credit or debit MasterCards and/or non-UK Maestro debit cards. These rules are imposed by MasterCard.
Please note you can only withdraw from the Main Wallet. In order to withdraw funds that are currently in the Australian Licence Wallet you must first transfer them to the Main Wallet.
Please note you cannot transfer any funds out of the Australian Licence Wallet until you have confirmed you identity (KYC check).
Owing to a recent change in policy by VISA, you can only withdraw up to a maximum of USD48,000 or currency equivalent per day to any VISA card (including all debit cards).
There are certain restrictions when using payment cards at Betfair. Please ensure that you are familiar with Betfair's Card Policy.

Thanks for replying themover  but Ive already seen that. Ive never had a problem like this with a bookmaker and shurely 99% of Betfair transactions are done with a debit card. What i'm asking is (a) why do betfair do this and (b) how is anyone who makes a profit on Betfair supposed to access their winnings?

Isn't it the card issuer's rules rather than Betfair's

I believe it is the card issuer putting these in place rather than Betfair. Whether or not it is something that only applies to an exchange opposed to a bookmaker I don't know. Regarding accessing winnings there are several options, including bank transfer, cheque etc.

If you have recently changed your card i.e.  your old one expired, this could be the reason. The same happened to me recently, its a fraud protection thing. You need to phone them

@tobermory. Like I say I have never had a restricktion like this with any other bookmaker. Its just a standard bank card like any other betfair user would deposit with. So surely there are people on betfair that are in profit, so how do they accsess their winnings?

@mecca. Cheers mecca that makes sense. Good answer.

im pretty sure you can withdraw any ammount to a paypal account, takes a day, then 3 days from pay pal to your bank

or just buy some things off ebay haha 

Mt first account was with a Maestro debit card, and i was always in profit on it and withdrew more than i deposited without any problem so suprises to see they don't allow that on those cards anymore.

Have another with a Mastercard credit card and there was always this rule but problem never arisen as i have never been in profit on it .

My Mastercard will only let me withdraw money that I've already deposited. Rather annoying, but that's Mastercard for you.  Bank transfers still work though, so that's how I withdraw money.

Have you got other cards on the account that are still with a negative balance?  You have to clear them first before you can start taking money onto a card as profit.

Alternatively you could do a bank transfer straight to your account.  Might cost you a few quid to do it though.

Go into 'my account'  then left hand menu ' withdraw funds from Betfair'  and see all options underneath the card option part  !!  Easy

just withdraw it to a bank account.

I've withdrawn money to cards for ten years; its not a problem and there is no issue fwics.  You have to withdraw all deposits first to get to net zero, then you can withdraw freely after that.

Given the wording of the OP's intro post, I'd say his problem is nothing to do with him not having withdrawn all of his deposits first.   It sounds like he had the same problem I had when I used my Mastercard.    If he used Mastercard then it won't let him withdraw more than he deposited. Simple as that. His best options, in that case, would be to use the bank transfer or have money sent to him as a cheque. 

I suppose he could register another card (preferably a Visa CC), deposit a bit of money on that and then start withdrawing to that card instead. And PayPal etc. are open to him. However, I don't think he'll be able to transfer any more to a Mastercard, whatever he does.

What would be useful is to hear from the OP what sort of card it is.

Having a similar problem. Just introduced a second card recently for my brother. I cant withdraw money to his or my account. My account is in profit and his deposits are greater than his withdrawals. Any reason why it wont let me withdraw lads?

Is it Mastercard? Try a Visa Debit card

Its not mastercard mate I dont undestand this

Its not mastercard mate I dont undestand this

I use Maestro, have withdrawn more than I've deposited and have no problems

hoops48 - it's probably just betfair being overly cautious regarding a new card and any possible fraud issues. Ring them up and i'm sure they'll sort it out.

Nobody wins here so this has never been brought up before

yes us visaites dont have this problem

Have you deposited with the new card yet? What card is it

mecca     20 Feb 12 01:20 
If you have recently changed your card i.e.  your old one expired, this could be the reason. The same happened to me recently, its a fraud protection thing. You need to phone them


Same here.

as said, it's purely to do with using a new card after the old one expired

OP.

I emailed a lovely guy at betfair about this last year.

I backed Scwartzel to win the masters, , And won a fair sum.

Unfortunately, or fortunately I suppose, it would only let me deposit half the money back.

I ameiled betfair and they did the transfer no problem.

emailed

Thanks to all that gave me an answer on this. Almost all posts were helpful, with only 1 or 2 dumb answers. Its pretty rare for a Betfair post to be discussed sensibly, so thanks. For the people who wanted to know what kind of card it is, its a standard visa debit bank card from a big high street bank. Its not a mastercard or a maestro. Anyway thanks for all that answered, it seems that it is because I have cancelled the original card that was registered to Betfair that the 2nd card has been restricted. I will call Betfair to sort it out next time I want to withdraw. Its not an issue for now since a recent tennis loss has put me back to a point of break even, so I have nothing to withdraw at present.

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