Betfair charging with Withdrawals to MB

[bella]

From 20-09-2010

Only the first withdrawal made via Moneybookers in any given week (00:00 Monday to 23:59 Sunday) will be processed free of charge. Subsequent withdrawals will incur a charge equal to 1.5% of the amount withdrawn

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[CountryLad]

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I got the mail, too - starting as of next monday, 20th.

That charge is gonna hurt some people

In a way, if they're feeling that they're having to tighten up on Moneybookers usage, then I can't think of a much better and fairer way. It's certainly better than Daq's less than open approach. My net deposits by MB must be pretty massive, and my card deposits are net zero at the moment, so I'm going to have to switch that situation around asap. They're likely going to be seeing reduced usage, and a lot more frequent withdrawals to the bank from me in the long term.

[AllGone]

Read this from MSE. Betfair are going to charge 1.5% for MB withdrawals. What do you guys think of this and any ideas of what to do instead?

[srh1984]

The first withdrawal each week is free....they are charging 1.5% on subsequent withdrawals is how I read it..... I personally hardly ever withdraw from betfair more than once a week. Its only on moneybookers withdrawals too so can always withdraw back to your card if desperate.

[TechnoViking]

It is surprising that they have taken this long, to be fair, as free almost instant withdrawals was very exploitable and must have been costing them wheelbarrows full of cash. Their promotions will not be the same now.

[Subwaynz]

Ouch, this is going to hurt, ah well

[MrMidas]

can always withdraw back to your card if desperate.

Worth remembering "You must withdraw to each card at least the total amount deposited from that card before you are able to withdraw your 'additional' winnings.", if your deposits were via Moneybookers then you will need to withdraw net deposits to Moneybookers first.

[slim]

Seems like they're hitting their biggest users again.

Like srh1984 I would hardly ever need to withdraw more than once a week from Betfair. Pinny only give one free withdraw per month and that has rarely ever affected me.

But I can see this causing trouble for the massive traders. Betfair sure like to hurt the people that give them their liquidity.

[forestjb13]

It may be a cost, but i dont think you need to withdrawing from Bf more than once a week. This can easily be managed in my opinion.

[snoopy]

Blimey everything is getting tightened up more and more isnt it!?!