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888 terms and conditions - Inactive accounts beware
gareth888:
--- Quote from: Robbiebox on March 19, 2011, 14:40:19 PM ---
--- Quote from: gareth888 on March 19, 2011, 08:30:51 AM ---
We are also not allowed to process a deposit or withdrawal without a member instigating it
--- End quote ---
This is similar to the situation that always made me laugh with frustration with banks when a direct debit fails because of insufficient funds, yet they will withdraw a "fee" from the account......strange there seems to be funds in there to do that ! LOL
Gareth, seriously if you cant process a withdrawal from an account, then how can you withdraw from an account into your own funds ????
--- End quote ---
Come on....
It"s common sense. We cannot take from your credit card or debit card or neteller etc without you AGREEING to do it. We cannot put back on your card unless you AGREE to do it (login, make a withdrawal). Obviously this is so we get correct and current details as well.
From the poker account, we can adjust the bankroll anytime and do it with lots of actions, like when you cash in a tournament, win money at a cash game table, qualify for a bonus etc.
coprey:
--- Quote from: gareth888 on March 19, 2011, 08:33:49 AM ---
There is for sure email warnings at the very least, they run on certain days of each month. This is for sure.
I think once there is small residual amount in month 12 it"s cleared. I cannot remember the exact formula but you can find in the terms and conditions.
--- End quote ---
Hi Gareth
As regards email warnings, I am currently investigating this with 888, progress is slow. I did not recieve any warnings to my knowledge although its possible an old email address could have been used.
With regards the 10% reductions, let me clarify by highlighting the terms and conditions below:
"the Company will levy a monthly administration fee at a rate of 10% of the balance in the account on the date that it became dormant. The administration fee shall be deducted from the dormant account commencing from the last day of the sixth month in which the account is inactive and on the last day of every month thereafter, until the balance of the account has reached zero."
In other words if the "dormant" account has $100 10% is calculated as the monthly administration fee and this is deducted over 10 months at which time the account will reach zero. Simple!
Paulie_D:
--- Quote from: Paulie_D on March 18, 2011, 16:34:16 PM ---
--- Quote from: Swinebag22 on March 18, 2011, 16:31:02 PM ---
If you take 10% each month, how come my account is (or was) on $0? it is impossible for this to happen.
--- End quote ---
You are assuming that the 10% of the account balance in play each month...perhaps they work out the initial balance, divide that by 10 and deduct that amount every month for 10 months.
Simpler admin....note initial amount, divide by 10, set up payment schedule, hit "Run".
--- End quote ---
Damn...I"m good!
coprey:
This thread is about 888"s policy of taking cash from dormant accounts. Although I can almost appreciate that 888 dont want to do this, and are forced to. I want to be reassurred that players are given adequate warning of the removal of their funds under this arbitrary policy.
gareth888:
--- Quote from: coprey on March 21, 2011, 13:41:37 PM ---
This thread is about 888"s policy of taking cash from dormant accounts. Although I can almost appreciate that 888 dont want to do this, and are forced to. I want to be reassurred that players are given adequate warning of the removal of their funds under this arbitrary policy.
--- End quote ---
As I have explained in this thread, of course members are given adequate warning as we WANT them to re-activate. We want to warn them, and put as much resources behind that as possible. The key, make sure we have correct information so you can be contacted.
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