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Inactive Betting Accounts - Ladbrokes

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Anonymous

Postby Anonymous on 29 Oct 2011, 13:43

Hello,

I wanted to know if the email I received was genuine earlier this morning.

The email stated that if you have an inactive account at Ladbrokes they will put a £2 charge onto your balance each day which is required to be paid.

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indocine

Postby indocine on 29 Oct 2011, 16:16

15.3 . If you do not use your account to carry out any betting activity for a period of 12 consecutive months, such account shall be deemed to be inactive (“Inactive Account”).

15.4. Any Inactive Account will be charged an administration fee (the "Inactive Account Fee") in an amount of £2 (or currency equivalent) or 5% of the balance of the account on the date the account becomes an Inactive Account (whichever amount is greater). Subject to clause 15.5, the Inactive Account Fee shall be deducted from the Inactive Account at the end of the day the account becomes an Inactive Account and on the first day of every following calendar month.

15.5. The Inactive Account Fee will be deducted until the earlier of: (1) the account balance being reduced to zero; or (2) the account being reactivated by you using the account to carry out betting activity. In each situation the Inactive Account Fee shall cease to be deducted.

15.6. We reserve the right to close any Inactive Account whose balance has been reduced to zero for a consecutive period of 6 months.

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Nathan Hughes

Postby Nathan Hughes on 29 Oct 2011, 16:31

Is that the same for any other firms?
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Roseblossom

Postby Roseblossom on 29 Oct 2011, 16:52

William Hill did that with my account.

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Pompete

Postby Pompete on 29 Oct 2011, 17:05

How Strange.

I would have thought that given the cost to the Bookmaker on maintaining an inactive account with no funds in would be somewhere between approx £0.00 and £0.50 per account per year. And, those with funds in a net return from assumed interest earned.

This is tantamount to them saying either bet with us or will charge you for not doing so.

I wonder what the Gambling Commission's view on this would be?
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Pompete

Postby Pompete on 29 Oct 2011, 17:07

Oh, just a thought does this only apply to 'Credit Accounts'?
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Roseblossom

Postby Roseblossom on 29 Oct 2011, 17:18

Pompete wrote:Oh, just a thought does this only apply to 'Credit Accounts'?


Well mine were deposit accounts.

I closed the WH account as soon as I got the notification from them and I've just checked my Ladbrokes account and I haven't used it since October last year. So I've emailed them and told them I want to close the account because of the inactive account payment (although they haven't emailed me about it yet).

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Pompete

Postby Pompete on 29 Oct 2011, 17:34

Thanks RB, as I say seems very strange to me.

I've just looked at Corals Online Rules and they do not appear to follow Ladbrokes or Willian Hill;

7. Dormant accounts

7.1 If you have not logged into your account or otherwise not accessed or used it for a continuous period of one hundred and sixty-eight (168) day your account shall deemed to be dormant. Similarly if we have frozen your account for the reasons given in the preceding section for such a period it shall be considered dormant. If your account becomes a dormant account and there is a credit balance on the account, then we will use all reasonable endeavours to contact you to determine your wishes in respect of those unutilised funds.
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Roseblossom

Postby Roseblossom on 29 Oct 2011, 17:37

Took Ladbrokes less than 20 mins to email back and say the account was closed!

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Drone

Postby Drone on 29 Oct 2011, 18:01

Presumably the £2 is to be deducted daily from money left on deposit for a year or more; therefore the simple answer would seem to be: don't leave any money on deposit with any bookmaker if you're not going to use it in the immediate future

They can't deduct £2 from a zero balance on a Deposit or Debit/Credit Card Account, after all, can they?

I'd rather have all my money in my bank account working for me, not left languishing in a bookmaker's account

If they decide to close a zero balance account after six months' dormancy, fair enough; you obviously have no need of the account, do you?

Regarding (Phone) Credit Accounts: haven't used most of mine for several years, but they all remain open and I haven't been sent any requests for an "administration fee"

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Eclipse First

Postby Eclipse First on 29 Oct 2011, 18:44

Banks and Building Societies have been doing it for some years on inactive accounts. I suppose they need something to pay their obscene bonuses with.
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LUKE

Postby LUKE on 29 Oct 2011, 23:42

Punter dies,wife doesn't know precise details about betting accounts.Bookmaker slowly claws back anything in account.

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Mr. Pilsen

Postby Mr. Pilsen on 30 Oct 2011, 00:28

Betfair also sent an email a year or so ago saying that they would be doing this.
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