Inactive Account Fees

krizon

krizon

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Found this tucked away in this week's issue of The Week mag:

"Bookmakers are finding life rather heavy going, and Betfair's move offshore last week (to save on betting taxes) is a reminder that this low-margin business always looks for an edge. Punters doubting this will find further evidence of penny-pinching in the group's lengthy Terms & Conditions: both Ladbrokes and Betfair have quietly introduced "inactive account fees" - essentially charging customers for the heinous crime of depositing their cash in accounts and not spending it.

But they are not the only ones with an eye on these dormant deposits. A LibDem manifesto policy, which ended up in the coalition agreement, proposes that they be transferred into a fund for improving local sports communities.

Could the timing of the bookies' move be a coincidence? It seems like a long shot." (Julia Finch/The Guardian)

Did anyone know about this? It seems that if you didn't, you might want to do something about any snoozing shekels - soon.
 
The account has to be inactive for 12 months. Inactive means not logging into it, rather than merely choosing not to bet. I got an email from both companies to inform of a change to their terms and conditions.
 
Ah, you see, that lends some balance to the story, doesn't it? That's not the way it's been portrayed. I'd have thought better of The Grauniad's journalism.
 
No - for not reporting what DJ's put up: it's not quite as draconian as it first seems, Bets. For reporting it, fine. For not putting in the caveats and that they've presumably contacted their customers - a bit less drama.
 
I don't think too many on here have to worry about inactive accounts!:D It still remains one of the best ways to hide money from Revenue,Nama ex wife etc. :ninja:
 
Are there fees for dormant accounts with no money in? I have a Ladbrokes one that I dont use but think is empty
 
I've got stacks of inactive accounts.... They were all opened to use the bookies for their free bets and I haven't touched them since...
 
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