General Betting
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Wanting to withdraw £x back to my card.....I have more deposits on it than withdrawals but it says I have to withdraw £x to this same card before I can withdraw.....what's that all about.
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Anti-Money Laundering ("AML") at a guess.
If you deposit a load of money with one card, and then try to withdraw it by a different means, that looks exactly like classic money-laundering - trying to disguise the source of funds that arrive by method 2 as money from betting whereas it is actually money from whatever source you used to fund the card you deposited with. So they make you withdraw back to the card your money came from until that is net zero, then you get to pick where actual winnings get withdrawn to. At least, that's how I understand it (City background a long while ago, so I used to know roughly how AML works). |
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I cannot believe what I'm reading in these "withdrawal" threads.
This whole sorry saga is enough to deter people from betting. Okay, I get that gambling can and does ruin lives but if you've made a few quid and you'd like to avail yourself of it, How on earth can that be a problem ? There HAS to be a solution to this mess. I mean, god forbid, I might want to make a withdrawal one of these days. I wish you luck. |
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The 'problem' - as I understand it - is not about "Safer" or "Responsible" Gambling, but about money-laundering regs - you need to 'avail yourself' of your winnings by the same means you funded your stakes.
I expect I will hit the same issue if I ever try - I've not funded my account for years (nor withdrawn) so I expect the card I deposited from is long since cut up and in the bin. |
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Yeah, it's been a while for me also longbridge,
I dread needing to register a card and the affordability game. I have neither the technology or the know-how. " you need to 'avail yourself' of your winnings by the same means you funded your stakes." I'm not sure that I follow you there l.b. But again, at my level of trading ? You couldn't feed a dog on what I lose. Come to think of it, you couldn't feed a dog on what I win either. But that's my point. I'm barely out of the two-quiding stage. Just have to watch and see how it pans out I suppose. |
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Best of luck - I haven't heard of ACs being triggered by registering a new card, but you never know.
"" you need to 'avail yourself' of your winnings by the same means you funded your stakes." I'm not sure that I follow you there l.b." I mean - if you deposit from your (eg) HSBC card, you need to withdraw to that account, you can't decide you want to withdraw to your (eg) Nationwide card. |
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Got it.
Thanks. |