Fanduel changes to withdraw process

[swamijoe]

Anyone else recently having issues? I've done hundreds of withdraws and they're wire transfers. Always immediately received the 2nd email with the first confirming it was processed and I'd get my money in my bank the next day.
Recently that stopped and I've waited over a day once and I'm waiting on day 2 right now. That's never happened. Plus the amount I can withdraw has changed. It was always whatever was in my account. Now I think they changed it to you have to bet what you deposited before you can withdraw it. All of this started maybe a week or so ago. Anyone else having have this happening to their accounts who use FD?

[newton0038]

The AML rules require deposits to be rolled once prior to withdrawing otherwise it could be easy money laundering if you deposit and withdraw without any action.
You are likely beating them too, so your limits will soon be $1

[hustledouble]

1x rollover has always been the case

[d2bets]

Anyone else recently having issues? I've done hundreds of withdraws and they're wire transfers. Always immediately received the 2nd email with the first confirming it was processed and I'd get my money in my bank the next day.
Recently that stopped and I've waited over a day once and I'm waiting on day 2 right now. That's never happened. Plus the amount I can withdraw has changed. It was always whatever was in my account. Now I think they changed it to you have to bet what you deposited before you can withdraw it. All of this started maybe a week or so ago. Anyone else having have this happening to their accounts who use FD?

Good.

Why would you deposit money and then withdraw the same money without wagering it? That's ridiculous.

[ThaWoj]

About a year ago it changed for me. Every withdrawal was instant to my bank. Then I'd say 75% were taking 24-48 hrs. Now its better but larger ones tend to take longer, then again I've done 3 all at once all same method all for 350-400...2 were instant, 3rd was like 36 hrs.

I've never deposited and then withdrawn without betting tho.

[d2bets]

I do 5 figure withdrawals. Very consistent. Always processed next day, available the day after. 2 days total. Totally acceptable and reliable.

[Optional]

Anyone else recently having issues? I've done hundreds of withdraws and they're wire transfers. Always immediately received the 2nd email with the first confirming it was processed and I'd get my money in my bank the next day.
Recently that stopped and I've waited over a day once and I'm waiting on day 2 right now. That's never happened. Plus the amount I can withdraw has changed. It was always whatever was in my account. Now I think they changed it to you have to bet what you deposited before you can withdraw it. All of this started maybe a week or so ago. Anyone else having have this happening to their accounts who use FD?

As others pointed out. Having to risk deposited money before withdrawing is a normal anti-money-laundering requirement.

In fact I'd say Fanduel could possibly be fined if the state regulators know they have been letting you withdraw without risking the money first.


As far as the differing times it takes for withdraws. They very likely have multiple payment routes to cope with the sheer volume.

And if it really was actual wire transfers, as opposed to regular domestic bank transfers, they can be variable in time taken due to the weird old system wires use.

[Wilfred]

As others pointed out. Having to risk deposited money before withdrawing is a normal anti-money-laundering requirement.

In fact I'd say Fanduel could possibly be fined if the state regulators know they have been letting you withdraw without risking the money first.


As far as the differing times it takes for withdraws. They very likely have multiple payment routes to cope with the sheer volume.

And if it really was actual wire transfers, as opposed to regular domestic bank transfers, they can be variable in time taken due to the weird old system wires use.

I could be wrong but I don’t think this is 100% accurate, state regulators might actually fine them if they didn’t let you take your money out immediately. Every book I’ve played with legally lets you withdraw your money immediately even without 1x play through unless of course if you take a bonus (which they say then you have to do 1x through) They do make you withdraw the same method typically so it wouldn’t really work for money laundering anyways though. As far as FanDuel goes it’s just automated payouts. It’s weird that sometimes like Op Is saying you will withdraw and then it will immediately be processed and I will see it in my bank within 1 minute and then other times it will take a day. I don’t think there’s really any reason to it as sometimes I will cancel the withdrawal that hasnt happening in a couple hours and immediately submit the same withdrawal and it will be immediately processed. Its just an automation system.

[d2bets]

I could be wrong but I don’t think this is 100% accurate, state regulators might actually fine them if they didn’t let you take your money out immediately. Every book I’ve played with legally lets you withdraw your money immediately even without 1x play through unless of course if you take a bonus (which they say then you have to do 1x through) They do make you withdraw the same method typically so it wouldn’t really work for money laundering anyways though. As far as FanDuel goes it’s just automated payouts. It’s weird that sometimes like Op Is saying you will withdraw and then it will immediately be processed and I will see it in my bank within 1 minute and then other times it will take a day. I don’t think there’s really any reason to it as sometimes I will cancel the withdrawal that hasnt happening in a couple hours and immediately submit the same withdrawal and it will be immediately processed. Its just an automation system.

So can you deposit $1,000, place no bets at all, and then withdraw $1,000 the next day? If they do, they should at least ban that player. You're wasting the book's time and transfers might cost them money.

[LongBall52]

So can you deposit $1,000, place no bets at all, and then withdraw $1,000 the next day? If they do, they should at least ban that player. You're wasting the book's time and transfers might cost them money.

Agree 100%

[goduke]

I do 5 figure withdrawals. Very consistent. Always processed next day, available the day after. 2 days total. Totally acceptable and reliable.

I have other gripes about FanDuel but every withdrawal I have made has been consistent and within a day

[lakerboy]

A couple of days no big deal. Usually faster though

[stevenash]

I have other gripes about FanDuel but every withdrawal I have made has been consistent and within a day

Same here.

[LongBall52]

I have other gripes about FanDuel but every withdrawal I have made has been consistent and within a day

I don't play at FanDuel, but can you compare them to Draftkings? 3 - 4 figure withdrawals there are never more than 1 day.

[pavyracer]

Good.

Why would you deposit money and then withdraw the same money without wagering it? That's ridiculous.

I think maybe he means this. Let's say you deposited $2,000. You placed your first 2 bets at +100 and won both for $500 each. Now your balance is $3,000. So you decided to withdraw all $3,000 for some reason but they won't let you until you wager at least $2,000. I'm just guessing here.

[hehfest]

I believe when you logged in recently to accept the new terms and conditions that you have to get your blood drawn and submit the analysis before they will pay. They want to make sure you don't have convid-19, monkeypox, avian flu, etc. If you do, then they will have to wait to pay you until after your quarantine is through. Hope this helps!

[LongBall52]

I believe when you logged in recently to accept the new terms and conditions that you have to get your blood drawn and submit the analysis before they will pay. They want to make sure you don't have convid-19, monkeypox, avian flu, etc. If you do, then they will have to wait to pay you until after your quarantine is through. Hope this helps!

I'm not sure what to think come June 1st... Any major changes and I'll be gone.

[cashin81]

I dunno if you should be punished for changing your mind. You might plan to play the rent money but have a change of heart when the kids look at you puppy eyed, with no cereal and just an empty bowl.

[d2bets]

I dunno if you should be punished for changing your mind. You might plan to play the rent money but have a change of heart when the kids look at you puppy eyed, with no cereal and just an empty bowl.

Fair enough. It should be allowed alongside a ban or suspension. If you deposit money you can't afford to play, you shouldn't be playing.

[TheMoneyShot]

The money laundering thing is far fetched in regards to regulated state online casinos... they know a hell of a lot about you... than you know about yourself. You guys are brainwashed from offshore sh## that was pumped down your throats for several years.

People make mistakes and deposit more than they thought they could risk/wager/spend... so.. they shouldn't be penalized for it. If you deposit too much in your state lottery account... you can grab it any time... same should apply for regulated state casinos.

Why should they ban you because you didn't risk 1X of the deposit? They need us more than we need them. And they know it.

[big joe 1212]

My last 2 withdrawals have taken over 48 hours. I’ve withdrawn many times in the past and received the funds within minutes.

Not sure what has changed but it’s not good business for them.

[stevenash]

^
Did you reach out to them?
I've always received my withdrawals in under 24 hours,

Interesting.

[big joe 1212]

^
Did you reach out to them?
I've always received my withdrawals in under 24 hours,

Interesting.

I went on live chat and they gave me the “up to 48 hrs” BS on the first one. Magically, I received the funds about 20 minutes after the chat. With the current one, I’ve been waiting 43 hours so far.

These are debit card withdrawals which I have always done.

Just seems weird like they got me under investigation/review or something.

[Optional]

I went on live chat and they gave me the “up to 48 hrs” BS on the first one. Magically, I received the funds about 20 minutes after the chat. With the current one, I’ve been waiting 43 hours so far.

These are debit card withdrawals which I have always done.

Just seems weird like they got me under investigation/review or something.

Could be the case but I'd be surprised if it's just you and not to do with their own internal systems and/or money transfer options.

[big joe 1212]

I did end up receiving it right at the 48 hour mark

[Wilfred]

So can you deposit $1,000, place no bets at all, and then withdraw $1,000 the next day? If they do, they should at least ban that player. You're wasting the book's time and transfers might cost them money.

You can deposit and immediately withdraw it on FanDuel, yes, in this scenario FanDuel actually just has a “refund” button where say you do a direct bank transfer and then a couple hours later change your mind or are up a little bit you can refund your deposit and in most cases the transaction will never even be on your bank account so it just cancels it I believe. I feel as though your thought process is more driven to the offshore model where it will cost the book money if a player did this with bitcoin, i doubt the big legal books are paying a per transaction fee, and if they are it’s cents. Maybe it’s an issue if someone kept doing this with never playing but even if they played a couple dollars that would make up the fee they might have. With the new laws I’m seeing tons of people I know who never have gambled on sports start to do it so this will definitely happen and it wouldn’t be a good idea to ban them when they could have 50 more years of them gambling on the site.

[Optional]

A reversal of a charge can be properly tracked so there would be no relevance of AML rules for that.