I'm not withdrawing using SWIFT/IBAN/CHAPS or whatever. It's a debit card withdrawal
I'll see what happens when it arrives back. I won't post the bookie since this is not part of the private forums
I don't know 100% but I think if you're withdrawing back to a card you shouldn't incur the SWIFT fee. I think the SWIFT fee is incurred if you have to use an intermediary bank or the money has to be processed with some urgency or diligence (ie if it's a very large amount), but for smaller withdrawals to card I don't think it applies.
Regards the exchange rate it should be pretty similar to what it was on the day you withdrew, a few days doesn't usually see the exchange rate change that much. In my experience withdrawing back to Flex by card it's always been quite negligible and certainly nothing to make me not want to use the Flex card.
But once Nationwide add the fee for forex ... well I don't know how comparable it will be to other banks, will probably be much the same as other high street banks. I will probably stop using Nationwide at that point and switch back to Lloyds card if the charges are the same, Lloyds banking service generally tends to be much better than Nationwide in my experience. I certainly wouldn't bother meeting the minimum funding requirement for the Flex card just to get the insurance offer (or whatever extras they are) that they're bringing in, I just don't have the need for those 'extras' they're offering.
For info, I withdrew back, and virtually got the same rate as I did with one of withdrawals. Well chuffed I was
Right as the thread says im after another account for one reason really and thats to use to open a betfairx account.I have looked at first direct this morning but they seem to want a £10 a month charge,i would prefer an account that you can open online and to be honest it would probably only be used for betfairx and nothing else,i would carry on using my normal account for all other mbing.Any ideas.
Nationwide FlexAccount: Open Online Bank Current Accounts Internet Banking
Originally Posted by rogsmith
It's true that Firstdirect charge a monthly fee if you don't meet the minimum monthly deposit, however if you want a current account for personal use and are paying monthly income into it then you won't find a bank with better customer service anywhere.
For matched betting use most people go for a bank account that doesn't require a monthly payment into the account. It's always worth phoning the bank up to clarify, because many seem to list that a monthly payment is required, but very often this is not the case and if you don't meet the monthly payment it just means you lose your right to higher interest rates on balances or somehting like that....... matched bettors make their own interest
Two accounts that I have used in the past for gambling are Cahoot and Nationwide. Cahoot are currently overhauling their systems and you can't apply for a current account at the moment. The other problem with Cahoot is that the security department are super, super, vigilant and your card regularly gets locked down when you're trying to deposit money into a bookie in a hurry. Whilst I would never go as far to say that security is a pain in the ass, anybody with a cahoot account needs to make sure they have the phone number of the security dept to hand to get the card released when it's locked down....
and they don't work weekends....
I can only speak from my own experience but I have yet to have any such problems with Nationwide, and I think you would find it most accomodating for betting purposes. Transfers are reasonably fast, the online interface is easy to use and is updated fairly quickly so you can see when money has been paid back in/out.
Is there any reason why you can't use Moneybookers for your new BetfairX account? It's very easy to set up and would save a lot of hassle creating a new current account. If you want help either email firstname.lastname@example.org or ask on the BetfairX discussion thread and I can cover any queries you have.
Originally Posted by rogsmith
Back to current accounts though - I would have said go for a Flex account if it weren't for the fact they're removing their low forex fees for overseas transactions in November (which was a key (if not THE key) selling point of the Flex account). I know you're not interested in Flex just for the forex fee aspect now, but I think really that is the key reason for going for a Flex account because the CS is awful and the other perks useless (all in my opinion of course!).
It took them 2 months I think it was to actually open my account originally and 2-3 visits to the local branch (it was only sorted out when someone actually did the application manually in the branch). I had them hang up on me once on the phone and generally phone support was really poor, didn't get a good impression of them at all.
So personally I wouldn't recommend the Nationwide Flex account (of course YMMV though, LP sounds happy enough above!).
I would actually recommend Lloyds for a current account. As much as it loathes me to say it (because they screwed my mum over for a ridiculous amount on investment commission, very very long story!), Lloyds current accounts are the best I've come across and they just seem to do the job with no hassle or fuss and the CS is generally very good.
Re suitability for gambling - I do have the odd problem where they block transfers to gambling sites, but usually their automated fraud detection system rings me up straight away to confirm whether I made the payment - after which I can make the transfer OK.
Other benefits of the Lloyds account, they have a very good 4% interest rate if you upgrade to 'Classic Vantage' which is obviously a lot more than all instant access savings accounts right now. To get that rate though you do need to pay in £1k/month (I just transfer in from a savings account). Normally though there's no minimum funding amount though afaik (though you might want to check on that).
But again... if this is for BetfairX I would say Moneybookers is the best option:
The Gambling Times | BetfairX Rebate Scheme
I didn't go into too much detail there ^ but it really is fairly straightforward to set up. If that is an option for you and you need more info / step by step instructions just email betfairx@tgt or ask on the BetfairX discussion thread.
Q: I want to deposit into my new Betfair account but I've already used Moneybookers to deposit into another Betfair account - what can I do?
You can use the same Moneybookers account to deposit into more than one Betfair account so long as you use a different Moneybookers email address to deposit into each Betfair account.
Firstly, add a new email address (obviously an account you have access to!) in your Moneybookers profile page. Next, set this new Moneybookers email address as 'primary' - again in your Moneybookers profile page. Finally you can deposit into Betfair using the new Moneybookers email address. When done, you are free to change the primary Moneybookers email address back to what it was (although remember to change it again if you need to deposit - or withdraw).
If you have any questions about this please email TGT/BetfairX support (see below).
I have to say i think natwest is a good option right now because of
- faster payments are fast and not limited to small amounts like a lot of banks are.
- 2.89% e-savings you can link to the current account is the best around at the moment.
- No fee's to have a current account.
- They are not excessive blocking bookies ive only been blocked trying to deposit via bank transfer using the moneybookers website ive since worked out this is moneybookers fault.
There you go - quite a few options to consider above! I must admit I never considered Lloyds - I don't know why.
Just another word on First Direct - I just phoned them up at 0745hrs this morning and got straight through to a live individual (It is their policy to not have this "press option 3 to speak to india" rubbish) who was uber helpfull, knowledgable, and answered all my queries.
The above comment is not necessarily matched betting related of course but I can't help but rave about First Direct - the service is outstanding.
Yes I heard First Direct were supposed to be the best for Customer Service. I know a few people who've recommended them and I think I read something about them getting an award for top service from Which magazine, something like that anyway.
Lloyds are good for banking I think yes, though they do bug the hell out of me sometimes (for example just today they rang up out of the blue to ask if they could be of any help investing some money that had just been transferred into a Lloyds account... what's more, the call was made from a local Lloyds branch... good luck trying to get to talk to a local branch if you rang them up for anything else...! ). Basically IMO Lloyds (most banks in general!) are great for banking, but they stink for investments (kind of sums up the economic crisis doesn't it?). </rant!>
I'm with Natwest, and I had exactly the same thing (well, directbanking, though the MB website, which is what I think you mean). Had to ring them up to get the account unblocked again, each time, only to be told their systems detected some sort of worm virus trying to steal my money! But despite scanning with every virus/anti-spyware/malware program under the sun and formatting (thoroughly, and repeatedly), my account is then mysteriously blocked once more after I try to use Drectbanking with moneybookers, each time. Now I just don't bother using Directbanking, and it hasn't happened since.
Originally Posted by zenmaster
I'm interested in your experience with this as I couldn't really find much out about it at the time, or anyone else having the same problem.
So what is it you know about this?
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