Betfair WITHDRAWALS.

[Black Ladder]

No love for the Aussie account holders.Best I get is if I take it out before 12pm Aus time, I get it at 4pm,or its the next day.

It would be nice to have a ATM card like all of the bookies have.I think it would help them make more money, make it easy for the arb punters.

Thats why a lot of the Australian recreational dollars stay's with the bookies, easy access to their money and great promo offers.

They put their 200 in, have a bet on the races, on their football rugby teams, have a win. Then they have the option to get the money out or use the bookie atm card, like a normal debit card.

Or you put the money in Betfair, get better odds but no promos, and have to wait till monday late afternoon or evening to get the money.

I used to have a Bet365 Mastercard. Withdrawals were instantaneous. I would have thought offshore traders, expats could use this method of withdrawal.

[TipTopTrader]

Thats what I was trying to say.Betfair needs to pull up their socks and have a Betfair mastercard, like all of the corporate bookies and the TAB have.

[ANGELS15]

Thats what I was trying to say.Betfair needs to pull up their socks and have a Betfair mastercard, like all of the corporate bookies and the TAB have.

Must admit I'd never heard of a bookies mastercard. In any event I'm happy with what betfair have done. So far since the withdrawal update every withdrawal I've made has instantly appeared in my account which is as good as in my hand.

[Derek27]

I've made a withdrawal to PayPal. It seems the 12-hour delay is still in place for e-wallets.

[TradingSnoop]

Its the new Visa Direct feature for certain BIN ranges, you can make 3 x withdrawals of up to £250 per day that will arrive instantly (or within 2 hours)

[Black Ladder]

Great news. Tempted to withdraw now just to test it.

Hello Derek. Yes indeed, very useful. I can confirm that not all high street banks have enrolled, I have one fast withdrawal, and the other 2/3 days. Interesting you mentioned PayPal, that's a new one on me. Have a good day ....

In respect of my withdrawals: Nationwide Building Society - INSTANT. Lloyds TSB 2/3 days. I'm sceptical as to how long this Fast Payment arrangement with high street banks will last ...

[spreadbetting]

Its the new Visa Direct feature for certain BIN ranges, you can make 3 x withdrawals of up to £250 per day that will arrive instantly (or within 2 hours)

I guess that could explain why my payments still take 2-3 days or maybe Barclays simply haven't got on board yet.

[ANGELS15]

Its the new Visa Direct feature for certain BIN ranges, you can make 3 x withdrawals of up to £250 per day that will arrive instantly (or within 2 hours)

I guess that could explain why my payments still take 2-3 days or maybe Barclays simply haven't got on board yet.

I use a Nationwide current account and a Barclays current account, so far both have been instant for Betfair withdrawals. It remains to be seen whether that will always be the case or may sometimes take up to the 2 hours that Betfair state. It's a similar scenario to when faster payments were introduced for personal banking, you could now make online transfer payments that were supposed to take up to 2 hours although in practice 95% of the time they go through immediately (at least in my experience).

I hope this faster withdrawal continues. I think if you've had a good day it's nice to be able to pay yourself an immediate payment which you can see in your account and withdraw out of the cash machine. Otherwise there's a danger that it all becomes just figures.

[ShaunWhite]

I think if you've had a good day it's nice to be able to pay yourself an immediate payment which you can see in your account and withdraw out of the cash machine. Otherwise there's a danger that it all becomes just figures.

It's funny how we all tick differently ('scuse the pun). I've always done everything I can to see it as 'just figures' rather than money. I never regard it as being mine to draw and spend on the day, because an exceptionally good day is usually balanced with a bad day at some point and the last thing I want to do is make a deposit from my actual banked folding money. I prefer to draw my dividend at the end of the month, until then it's all just figures and that way great days or terrible days don't really bother me one way or another. I'm here for a nice relaxed life not a daily emotional rollercoaster.

[ANGELS15]

I think if you've had a good day it's nice to be able to pay yourself an immediate payment which you can see in your account and withdraw out of the cash machine. Otherwise there's a danger that it all becomes just figures.

It's funny how we all tick differently ('scuse the pun). I've always done everything I can to see it as 'just figures' rather than money. I never regard it as being mine to draw and spend on the day, because an exceptionally good day is usually balanced with a bad day at some point and the last thing I want to do is make a deposit from my actual banked folding money. I prefer to draw my dividend at the end of the month, until then it's all just figures and that way great days or terrible days don't really bother me one way or another. I'm here for a nice relaxed life not a daily emotional rollercoaster.

I totally agree I should have put it clearer. Yes indeed it's true that you have bad and good days and it's best to see what profit you have over a period of time before withdrawing something for personal use. In my example I meant if you'd had a really good day and made a few hundred pounds, perhaps pay yourself a little something like £20. That good day's profit would be needed to help balance out the poor days.

[spreadbetting]

I withdraw wages every Monday but if I did have an outsize win I'd probably withdraw rather than leave on Betfair,no point them having the benefit of it.

[Derek27]

I pay myself a rather modest salary last day of the month (today ). If I have a really good month I still take out exactly the same amount. I would much rather use a good month to increase my capital and hopefully further down the line increase my wages.

That's the way most businesses operate. If a restaurant has a really good month they won't splash out on bonuses for the staff, the owner isn't likely to stick his hand in the till. The next month might be quiet.

[spreadbetting]

I reached my saturation point years ago so it's pointless me leaving money in Betfair that I can't utilise. There's no point me accruing capital if I'm not going to use it and there's only so much I can stick thru the dogs and horses. You've been doing this for long enough so god knows how much you must be trying to get thru the markets if you're still capital building your working balance, certainly more than me I'd guess.

[Derek27]

I reached my saturation point years ago so it's pointless me leaving money in Betfair that I can't utilise. There's no point me accruing capital if I'm not going to use it and there's only so much I can stick thru the dogs and horses. You've been doing this for long enough so god knows how much you must be trying to get thru the markets if you're still capital building your working balance, certainly more than me I'd guess.

I wasn't suggesting you need to increase your capital (wasn't specifically replying to your post), I was just saying I'd rather spread my earnings over the course of the year and increase them rather than grabbing them as they happen. I've never been a big trader and the length of time you've been trading for doesn't correlate to how quickly you reach your maximum potential.

[ANGELS15]

I pay myself a rather modest salary last day of the month (today ). If I have a really good month I still take out exactly the same amount. I would much rather use a good month to increase my capital and hopefully further down the line increase my wages.

That's the way most businesses operate. If a restaurant has a really good month they won't splash out on bonuses for the staff, the owner isn't likely to stick his hand in the till. The next month might be quiet.

This is the approach I've decided to take. I've looked at my records for the last 2 1/2 years. Have a good idea of my annual strike rate/turnover. I think the best thing to do is to take maybe 50% of the annual profit leaving enough to slowly grow the bank and eventually increase my wages. Too often in the past I would simply withdraw too much and then have a losing month having to top up the account again.