Cashing out - Is it usually problematic?

[bubbahotep]

Just wondered what others experiences were when trying to cash money out of a poker site back to your neteller account?

I had just deposited money at ultimatebet and wondered how much of a hassle cashing out would be. I made a 25.00 withdrawal and I received this message after 48 hours.

Dear ,

Please be advised that your withdrawal has been subject to a random security verification. We have noticed that you are requesting a withdrawal (#xxx in the amount of $25.00) and this amount is not related to game-play. Upon verification of your account, you have deposited then withdrew immediately without playing.

In order to minimize fraudulent activity, please provide us with an explanation of the circumstances of this activity so we may proceed with your withdrawal request.

Your withdrawal#xxx has been cancelled until we receive your reply.



They canceled my withdrawal. After I sent them an email to explain why I wanted to withdrawal money, they said I had to resubmit the withdrawal and they would process it within 48 hours.

(I should say that my withdrawal occured 24 hours after deposit, and I had played some in that time period, so what they said was incorrect)

So far this has been 4 days since I made my inital attempt to withdrawal.


Have others experiences with withdrawals been, for the most part, troublefree or troublesome?

[Photoc]

There is what you get for trying to launder digital money!!!

lol

[Onaflag]

Did you make a withdrawl before playing? Sounds like this is what triggered the weirdness.

Onaflag...........

[Chris Daddy Cool]

i've never heard of it from ultimiate bet but for the most part i've had no problems with transfers to NETeller on any site except for Interpoker where I've had a huge problem getting past their security check.

[richrf]

I've had some trouble with various sites. Interpoker was the worse so far. I have heard lots of complaints about William Hill and VCPoker. Very good experiences with other sites such as Bodog. So it all depends whether the site is more interested in keeping your money or keeping your good will. If they are in trouble, the money is probably more important. I personally will stay away from Ultimate based upon what you have written. Sounds like they may be having cash flow issues.

[pacman544]

Ive been playing on ub for almost two years. I have never had a problem cashing out. They prolly thought u were trying to launder money or something due to cashing out without play.

[AngryCola]

[ QUOTE ]
I personally will stay away from Ultimate based upon what you have written. Sounds like they may be having cash flow issues.

[/ QUOTE ]

No, that's not it at all.

The problem is he didn't play before he tried to withdraw.
ALL online sites will question this.
It raises flags in the system.

Stars and Party are a bit faster, but UB withdrawls have always been some of the fastest I have received.

If this guy had played for an hour or in a SNG, he would have never had this problem.

[richrf]

I would followup with two questions:

1) Does Ulimate make it part of the terms and conditions that each player play for a minimum amount of time in order to withdraw money? If so, where is this written. If not, then they are simply holding onto the money.

2) How can $25 deposit/withdrawal be possibly interpreted as money laundering?

[AngryCola]

[ QUOTE ]
I would followup with two questions:

1) Does Ulimate make it part of the terms and conditions that each player play for a minimum amount of time in order to withdraw money? If so, where is this written. If not, then they are simply holding onto the money.

2) How can $25 deposit/withdrawal be possibly interpreted as money laundering?

[/ QUOTE ]

UB is not alone in this practice. The amount of money involved is not significant to the computer system which raises the flag. Honestly, it's a weird thing to deposit money and then quickly make a withdrawl without playing. I'm sure they have to review the account transactions to make sure everything is on the square.

I'm sure it's in their terms somewhere. But they don't specify that you have to play at all, or for any set amount of time. It will just allude to the fact that they have the right to check out stuff like this.
As I said, this is something practiced by all sites.

But is it really a problem?
I don't think so, because I've never deposited money into a site and not played at least a few hands. What would be a legitamate reason for doing so? That's the problem. There aren't that many normal reasons for doing something like this, and the fact that it's $25 doesn't mean much. Obviously, if someone knew UB didn't flag transactions of only $25, they could take advantage of it.

So, as it stands, the big sites in question are just trying to protect themselves. I don't see anything wrong with that. It's not like they refused to give him his money. It's just taking longer than it would have if he had played a few hands. I wouldn't be surprised if Stars handles these types of situations faster than UB, but it can't be by much.

[pzhon]

The problem from UB's perspective is that it is paying fees on the transactions. I believe it pays a fee of 1.9% when you deposit and then withdraw by Neteller. Poker sites usually don't mind absorbing the fees because the rake is much greater. However, they want to discourage people from depositing and withdrawing without playing.

I've never deposited to UB, but I've withdrawn a lot from there with no problems.

You can deposit and then withdraw at PokerStars and Absolute Poker and Party skins, and this makes sense if you want to get a bonus triggered by a deposit, but already have enough money on the site to play for the bonus and you don't want to tie up more money. However, all of these sites have a waiting period before you can withdraw.