You have to ask them but I tried to raise it up to 15k from 10k and you have to either hit the 10k or be very close to that exposure amount, otherwise they won't do it.ilovepizza82 wrote: ↑Thu Jul 23, 2020 10:26 amHow come you have 10k limit and I only 5k ?
How can you raise your limits ?
Betfair closed my account, i can’t withdraw my money 18141$.
Thank you for clearing that up, despite it being a touchy subject for most people. In that case I am slightly less shocked with their behavior but it still seems way over the top with what they're putting you and OP through.Dannyboy1 wrote: ↑Thu Jul 23, 2020 8:58 am@Kai, I am down on my Betfair account but have large winnings elsewhere, which have been shown to them. In addition to that, the amounts I have deposited to Betfair are a very small % of my “net wealth” (which I’ve proved to them). I’ve been through this source of wealth process with 10’s of bookies before and never experienced anything like this. In fact, it’s a process which lasts a day or two max usually.
In OP's case especially, maybe from Betfair's perspective seeing a foreign account with large deposits may seem like a relatively easy cashgrab, not really sure whether that's the irrational fear part talking or if it's a very real fear of losing both your funds and more importantly your invaluable trading account, especially if you add various restricted territory elements into the mix as well.
Great news indeed, happy for you man.
It would probably be helpful if you could leave a few tips or guidelines (lol, if there's any) in the thread at the end for future reference, now that you've went through the whole ordeal and process etc
I have a feeling you won't be the last person to go through something like his, since moving money around nowadays is getting increasingly more difficult and annoying for everyone.
It would probably be helpful if you could leave a few tips or guidelines (lol, if there's any) in the thread at the end for future reference, now that you've went through the whole ordeal and process etc
I have a feeling you won't be the last person to go through something like his, since moving money around nowadays is getting increasingly more difficult and annoying for everyone.
Interesting (and concerning!) to read this, as I am approx 2 weeks into what looks like a very similar situation (exchange customer with a few years' history, similar account balance, being ignored so far). I guess I'll wait a while to see if my situation resolves before taking any further action, but would be very interested to hear where you get to. I can't understand the reasoning behind it - fair enough if initially they are being cautious on money laundering regs compliance, but why drag something out for so long with total inaction, during which time they are not earning commissions/PC which they otherwise would from a substantial active account?Dannyboy1 wrote: ↑Wed Jul 22, 2020 8:24 pmI’ll get the money back one way or another but it’s not ideal having 60k+ tied up for all these months. I am from the UK and my account is registered in UK. When I read similar threads to this I never thought it’d happen to me but just goes to show. I’ve been to many betfair events, am a betfair VIP with account manager for almost a decade.eightbo wrote: ↑Wed Jul 22, 2020 6:43 pmGuess they wanted to inflate the Q2 earnings. In all seriousness though, this is scary.
Can't see you both not being returned the sums back but you do wonder why they're dragging it out so much and no straight answer as to why is comical.
Where are both of your accounts registered and are there costs involved with the legal process?
The letter before action will cost me a small amount -
Plus an additional 10% of my balance to take it to court (I think). Those fees will be added to amount I pursue them for.
Anyway, don’t want to go too off topic so good luck am1go with your account.