General Question..Advice on Bank Transfer Withdrawals ?

**Optional** · 08-19-19, 01:01 AM

Originally posted by Gamblin Again

Seems very convenient..but wondering if this was generally a good idea. Would it be possible for a rogue employee or book, or whatever, could siphon money out in the future, by knowing your account number and routing number...or am I just being paranoid.

Would use an account that I dont leave more than 500 in generally, and couldn't be overdrafted...but just wondering what others advice and/or experience using this method. Is this generally a 'safe' method , I guess is what I'm asking

Also, is there an amount that could trigger a red flag at bank , if done consistently ?

Thanks

There is zero risk in giving someone wire details for your bank account. Many businesses need to do it daily and the system is designed to be safe the way it works.

Reporting limits vary but transactions of 10k+ are often reportable.

**lonnie55** · 08-19-19, 04:27 AM

You can return a direct debit, can't you?

AFAIK the deadline is 4-8 weeks at most of the banks.

I use bank tranfers to pay out winnings almost every week and didn't experience one single problem in 8 years. But it depends on the bank and the regulations in the country you live in. I've recently heard of two cases (NED and GER) where the bank closed the accounts, most likely because of transactions related to gambling. So it's not impossible those transactions could raise the red flag.

In Europe many books don't give you a choice anyway. Due to AML rules they only allow bank transfers as a withdrawal method.