Pinnaclesports withdrawal fees....are you kidding me ?

Originally Posted by Hareeba!

Fees were only in place if you asked for a second or subsequent withdrawal in a calendar month. And I think that was only a flat $15, not a percentage of your withdrawal. I always managed to work with that by not requesting more than a single withdrawal.

I am not aware that the OP had any concerns about the financial viability of Pinnacle before making his deposits.

And at this stage I don't have any serious concerns on that front either, but this sort of behaviour does make one wonder what's going on in their thinking.

I would imagine that with the prices offered by pinnacle and the type of players they attract, it must cost them a large amount of money processing transactions. It will cost them money to both send and receive payments. By reducing that, it will save them a lot of money. Debit / *********** payments are between 2.5% and 3.5% for a business to receive. I would imagine it maybe similar to send payments back. Looking at this OPs fee of £1000 @ 3% for 1 transaction, the amount pinnacle must pay in card fees must be phenomenal

Originally Posted by spazzadave

I would imagine that with the prices offered by pinnacle and the type of players they attract, it must cost them a large amount of money processing transactions. It will cost them money to both send and receive payments. By reducing that, it will save them a lot of money. Debit / *********** payments are between 2.5% and 3.5% for a business to receive. I would imagine it maybe similar to send payments back. Looking at this OPs fee of £1000 @ 3% for 1 transaction, the amount pinnacle must pay in card fees must be phenomenal

They probably pay closer to the 1.5 to 2% area, you can grab lower percentages if your volume is big enough. But non the less they do have fees to pay on these transactions, they are trying to reduce the number of 1 and dones they get and create a more loyal customer base I think. It sucks but this has always been the safest place to have a balance I got my payout today without issues.

Originally Posted by spazzadave

I would imagine that with the prices offered by pinnacle and the type of players they attract, it must cost them a large amount of money processing transactions. It will cost them money to both send and receive payments. By reducing that, it will save them a lot of money. Debit / *********** payments are between 2.5% and 3.5% for a business to receive. I would imagine it maybe similar to send payments back. Looking at this OPs fee of £1000 @ 3% for 1 transaction, the amount pinnacle must pay in card fees must be phenomenal

No doubt it is a cost which they and all betting agencies have to bear. That is why they all (until now) required you to turn it over once in full before withdrawing. That is reasonable and factored into their business model and margins. Five times isn't.

A 3% withdrawal charge will obliterate their low juice advantage, particularly when compared to Matchbook and for those not paying top commission rates at Betfair.

Originally Posted by Hareeba!

No doubt it is a cost which they and all betting agencies have to bear. That is why they all (until now) required you to turn it over once in full before withdrawing. That is reasonable and factored into their business model and margins. Five times isn't.

A 3% withdrawal charge will obliterate their low juice advantage, particularly when compared to Matchbook and for those not paying top commission rates at Betfair.

It won't necessarily obliterate their low juice advantage, it will still be worth it for regulars who leave money in there. Like dirtdog said above, it's probably to stop people going in and out, but then after what happened with Canbet, globet etc. Depositing, betting and then immediately withdrawing must be on the increase regardless of how highly rated a bookie is

Originally Posted by real1992

Need to make clear that i redeposited because i wanted to bet more than 5k on AH and at the moment i had only 700 euros on account. So i stake all the amount that was on my account + new deposit imediatly and left no un-unsed money on account. So at the moment that my bets were in play i had over 12k unsettled bets and 0 euros balance. What r u trying to say is that i shouldnt deposit while i had money on my account and it happend only if second deposit is unnesesary. This was not the case.

If you place a $5 future and lose the rest, the deposit still won't be zeroed until the future is graded.

That part is 'standard' across bookies that have rules like this.

Sucking people into this rollover conundrum who are not even taking a bonus seems unreasonable though.

Originally Posted by Krashman

I read the OP again, it's interesting that Pinnacle contradicts themselves on the amount of rollover required.

I think they mean 5x for a free cashout, and 1x before you can make any cashout.

At the end of the day it is just the logical consequence of massive abusing of the cashback promotions skrill and neteller were running. Greed eats brain. A lot of guys just think in short-term maximizing their profits without reconsider the consequences. Well now you got your "fukk you" from pinnacle.

Originally Posted by OnkelChris

At the end of the day it is just the logical consequence of massive abusing of the cashback promotions skrill and neteller were running. Greed eats brain. A lot of guys just think in short-term maximizing their profits without reconsider the consequences. Well now you got your "fukk you" from pinnacle.

Would not surprise me at all that Skrill would come up with a promo to leach off their big clients like Pinny.

One of the biggest scumbag gouging businesses ever.

Pinny was always excluded from skrill cashback promotions so no much 'abuse' here.

From pinnacle
-
Please Note
Pinnacle Sports make every effort to ensure our payment processing rules strike a balance between being fair to you the customer, and free of fees, while also enabling us to keep offering the best value odds online. Whenever possible we absorb transaction fees, however failure to meet our industry standard deposit roll-over threshold (five times deposit amount) will incur a 3% processing fee on the deposit and any applicable withdrawal fee.
Clients who do not use our account to account transfer option receive one free withdrawal per calendar month. All additional withdrawals during the calendar month, for any amount using any withdrawal method, incur a fee.
Please see the Payment Options pages of the site for more information on fees.

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Is this new, i didnt see it yesterday if I remember... Its a little bit better but still unacceptable

Originally Posted by basket33

From pinnacle
-
Please Note
Pinnacle Sports make every effort to ensure our payment processing rules strike a balance between being fair to you the customer, and free of fees, while also enabling us to keep offering the best value odds online. Whenever possible we absorb transaction fees, however failure to meet our industry standard deposit roll-over threshold (five times deposit amount) will incur a 3% processing fee on the deposit and any applicable withdrawal fee.
Clients who do not use our account to account transfer option receive one free withdrawal per calendar month. All additional withdrawals during the calendar month, for any amount using any withdrawal method, incur a fee.
Please see the Payment Options pages of the site for more information on fees.

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Is this new, i didnt see it yesterday if I remember... Its a little bit better but still unacceptable

Doesn't clarify the method of calculating required rollover when a previous deposit is partially but not wholly lost.
Doesn't state the date of application of the new requirement. Nor why we weren't told about it.
I'd never have deposited last week had I known about it.

So now it is 3% fee on the deposit and not on the whole withdrawl if you havent met the rollover? Seems to me pinnacle is getting confused about their own new rule invention.

You guys need to relax. Pinnacle is #1 for a reason. If u don't want to rollover 5x than pay the 3%.. Don't wanna do that? Go and have fun betting $3.65 at other books.

Originally Posted by NavsPicks

You guys need to relax. Pinnacle is #1 for a reason. If u don't want to rollover 5x than pay the 3%.. Don't wanna do that? Go and have fun betting $3.65 at other books.

Silly response!
They have been the best but this move now puts them clearly behind Matchbook in particular and Betfair for those not on the top level of commission.
But worst of all they failed to communicate the change in rules to customers ahead of implementing it and details still have yet to be communicated. That's stuff you expect only from scum bookies, certainly not AAA+ bookmakers.

"our industry standard deposit roll-over threshold (five times deposit amount)"

LOL Which industry is that?

Originally Posted by stanleyco

"our industry standard deposit roll-over threshold (five times deposit amount)"

LOL Which industry is that?

of all the bookies on this planet, Pinnacle is the last I'd have expected this sort of crap from