Just wondering how any of you are transferring money to and from Betfair as the banks seem to have decided to not let us deal with them??? How can they do this???

shy

Shy,

My initial deposit was via ANZ credit card and have recieved money back (to the value of the initial deposit) the same way. No problems with either transaction. Since then haven't needed to put any more money in :smile:

Don't know what bank you are using but I have had problems with Westpac depositing to offshore bookies but ANZ has been fine. Maybe you need to switch banks?

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"Computers can do that????" - Homer Simpson

becareful, it is ANZ I am using. I made original transfer to Betfair OK. Then decided to transfer money back (for my peace of mind) and now ANZ will no longer honour transactions to Betfair. I checked out the Betfair site and they now state that they cannot deposit back into non UK credit cards.

So now how?

Has there been any changes in legislation??

shy

Shy,

I was not aware of that! I made a withdrawal from my William Hill account last week and that was processed no problems so I am not sure what they mean by "industry wide" changes to withdrawal to credit card policies. Anyway it looks like you can still deposit from credit card to your Betfair account but all withdrawals must be now done by cheque or bank transfer. Given the high fee on bank transfers I think I will be opting for the cheque option - probably have to wait a week for it to arrive but at least there is no charge.

__________________
"Computers can do that????" - Homer Simpson

becareful, ANZ will not allow you to make deposits to Betfair, apparently new policy that has only come in in the last couple of days :sad:

shy

Oh ************! Not good news at all :sad:

I suspect that the policy will extend to all bookmakers accounts so that will make it harder to get money to and from all offshore accounts (not good for me since most of the good Tennis bookmakers are located in UK/Europe).

I might have to look at changing credit card accounts but with Westpac and ANZ blocking transactions or charging ridiculous fees then the others may follow soon. Anyone know if other banks are still allowing these transactions?

With Betfair all I can suggest is ringing their 1800 number and talking to their customer support staff - they may be looking at other options like BPay, etc, for deposits.

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"Computers can do that????" - Homer Simpson

Given what is going on with credit cards.....

Why don't we start a petition and post it all on the Betfair members area!

If enough of us voice the problems with transferring and getting back money, they might just instigate BPAY, which allows us to transfer from any account.

We wouldn't have to wait for cheques either, they could BPAY funds straight to our savings accounts!

Just a suggestion.

...and don't try Citibank, because they don't work either. When I first tried to send money across, it wouldn't let me & stated contact your bank. When I rang the bank, I was told (use your best condescending voice here), "we don't allow our customers to transfer money to those sort of websites". When I asked her what kind of website she though it was, she ummed & arred and repeated the spiel.

I'm sorry Mark, but the Govt has been indicating such legislative action every day for weeks-that there is no guarantee that your bets would be honoured and that your funds would be safe. It looks like they have taken draconian action to offset a perceived threat to the green monolith.
I wish you the best in this matter.

xanadu.

Xanadu, you appear to have misunderstood Mark. What Mark has written about has absolutely nothing to do with "bets not honoured" or with "funds not being safe" in betting exchanges. All bets in a betting exchange are made with money that is already there. Mark posted about banks apparently stopping people from using their credit cards to deposit money into a betting exchange.
This has nothing to do with "bets not honoured" or with "funds not being safe" in betting exchanges.