Charging for withdrawals

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bspittles
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Charging for withdrawals

Post by bspittles »

Fanteam's terms have been updated so that withdrawals will be charged a fee of almost 5% (maximum €20 and min €5 - so above €400 less than 5% and below €100 more than 5%).

Is it legal to introduce this midway through a game?

It is not possible to amend your team until these new terms have been accepted. Pretty disgraceful, IMO.

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quizking
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Re: Charging for withdrawals

Post by quizking »

Totally agree. They are clearly trying to dissuade lower stakes users from making withdrawals (there's a maximum €20 fee so of course that's a much lower percentage for higher amounts), may well backfire in dissuading new lower stakes users from joining at all.

bspittles
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Re: Charging for withdrawals

Post by bspittles »

Fanteam have emailed to say that withdrawals relating to prize money from the season long game can be fee free if you contact support first.

wahine
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Re: Charging for withdrawals

Post by wahine »

Im not intending to throw any more money away on it, particularly as I'm out of my league against who's playing regularly, if it dont get a return this week, or with my 50p still to spend,they can have the 10p balance left, good grief, i can double my money backing short priced favourites in provincial Australia,

I do like the challenge of it though.

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CBN
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Re: Charging for withdrawals

Post by CBN »

5% for withdrawals? That’s poor. If they’re struggling with people dicking around putting money in and taking it out too much then at least allow one ‘free’ withdrawal a month.

Admin Note: As per posts above it's 5% only between €100 and €400. Above €400 it's less. Below €100 it's more than 5%. At a withdrawal of say €4,000 then it's 0.5%.
Last edited by CBN on 25 Jun 2020, 08:47, edited 2 times in total.

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12345678
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Re: Charging for withdrawals

Post by 12345678 »

i was going to post this before but didn't, although i think i might have mentioned it to simon. my biggest concern is that scrambling around constantly tinkering to find ways of attracting a few new entries (whilst losing some they already have) is for me a sign that the company could be in trouble, something like this is even more of a worry.

they have come one hell of a long way and you need extremely deep pockets to do that!

they seem hell bent on taking their own course of action on everything and dissenters are silenced in as much as they can be in the modern world. they have shown real inexperience in dealing with seasonal issues and everything seems quite reminiscent of tff and GFM.

i really hope they make it but would currently be nervous about them holding too much cash.

you will never get the real truth from ANY gambling company as to how they stand financially if they are in trouble.

to me it would be odd to pull out now when they have almost cracked it but then the crazy speed of rules changes must have lost customers and will continue to do so,

my best complete and utter guess is that there may be financial difficulties there but i say it without too much confidence.

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