Had that happen at ch4se. Teller deposited it as CAD funds instead of US so i got a little less.

Within a day or two, i got a credit on my online statement for the difference noting the mistake. Was going to call soon but they were prompt.

Im currently having a problem with a check they still havent sent out since Nov. 21st, i wonder if they will comp me with anything?? it is xmas time so mayb ill get a duplicate check

Just registered to post my experience with the Bovada payout.

Played a Sportsbook on their website, turned $250 initial deposit into a profit of a bit over $520 balance and decided the withdraw everything out. First Bovada hit me with their stupid Bonus promotion policy - so yeah I used a %50 welcome bonus which was $125 free bet, which I placed on one sport event and won only $35 because of the weak odds. The $125 bonus vanished despite this being a winning bet, I only received the bet's winning sum of $35. But whatever, it didn't bother me. Long story short they hit me with their policy that because I used the free bonus I have to wager a certain total amount of money first (some math equation I didn't bother looking into) before being able to withdraw the $520 balance or else they will only payout ~$150 instead of $520. If I knew all this at the beginning I wouldn't bother facing such dilemma just for the mere $35 bucks. Arguing with them was pointless so I said screw it and placed whatever wager requirement I had left on an easy sport event with terrible odds which I was undoubtedly sure is going to be a winner. I did win and increased the overall balance by couple more bucks (Bovada was probably pissed) and was allowed to withdraw everything in full.

Now lets cut to the payout check itself. First of all I did read few pages of this thread before making any decisions, and it seems like everyone suggests to go with "free" check payout because it's so easy and without any hassle. Requested the check payout and received a check for my $520 balance a couple of days later, went to deposit at my local bank through ATM. The ATM denied the check and didn't want to accept it. I remember reading the thread where some people said it happened to them too, but going to the teller directly solved all the problem. I did the same thing. Went to the teller, they took a check for collection and said that it will clear in a 2-3 weeks. So now I look-up my online balance and it turns out the check only cleared for $450 instead of $520. Went to the bank again, they made a couple of calls and it turns out that the Canadian bank charged a fee of $50 for the processing and the other $20 were the fees charged by my bank. WTF!!!??? $70 loss and nothing I can do about it. It angers me because I did my research, read this thread and nobody mentioned anything about any fees. Everyone seems to receive their winning in full. If so, wasup with the $50 fee by the Canadian bank?! If nobody else was charged that fee then I'm going to write a letter to Bovada demanding some reimbursement, but I doubt I will receive any. $70 fee for a $520 payout check. What a load of crap. Should've went with Western Union payout under such conditions. Goddammit... I don't know in the end what I'm going to do about it. Maybe just swallow it and let it go as another typical "life sucks" moment. Any suggestions welcome. Thanks for reading.

2 comments:

1) Read the policies of the site before taking advantage of their features.
2) There are plenty of posts in here where people talk about various fees their banks charge for processing checks.

So how does this work? Some banks charge fees and some don't? I can understand the $20 fee by my bank, but why $50 by the Canadian bank if many players reported receiving everything in full? If they don't fee them $50 then they shouldn't fee me either, or that's at least how I look at it.

Your bank screwed you, trust me. It wasn't the bank it was drawn from. Your bank is to dumb to figure it out.

Yeah, this.

What most people don't consider when dealing with a bank is that the tellers are the least skilled jobs of all. While the comment that banks deal with international checks all the time is true, it isn't necessarily true for individual tellers. Chances are the teller gets something he/she has no clue what to do with, and instead of asking a manager, they just plod along and find a way for it to go through. Many times they choose non US funds even when the check clearly states US funds simply because the bank is non US.

Others might give up and ask a manager, and just happen to get the manager that hasn't dealt with many international checks. They key is to not just sit there and accept whatever they tell you, then leave and fume about it at home. If something doesn't look right, stop right there and get it straightened out. 3-4 weeks in collections on a check is not standard, and I'd be inclined to move my banking somewhere else if my bank tried to pull that on me.

Thank you for your replies. What exactly did my bank do wrong? Maybe if I'll point out their mistake I can get something out of it. The currency conversion seems to not be the issue, I talked to one of the employees and after making the phone call she said that it has to do with the fees issued by another bank + the $20 of their own. I'm thinking about calling the Canadian bank as well and discuss this matter with them.

The check you received was in USD, so there you have it, you're dealing with incompetence at your branch.

Does anyone know if the debitcard payout option is available in the US? My buddy who lives in same town has just had this option made available but have yet to see it in my account options. Just wondering if you have to play a certain volume, he plays higher stakes than me and racks up the pp's and the $$ ... lol. any insight would be appreciated as this would be a more suitable option than check and cheaper than WU and MG

I believe the banks have begun to implement new systems for which you can no longer deposit foreign checks via the ATM deposit. I know many banks have started to do this in the US. I for one deposit all my payouts through a credit union. They hold my check for 10 days until it clears. It takes time so be patient.

I have probably received upwards of 20 payouts by check and only 2-3 have bounced. Bovada has always corrected the issue.

requested 12/16

tracking number 12/20

received 12/24

check from east, succ dep into phone app

the first part about the sports bonus is your fault and you're completely wrong.

as for the banks- every bank is different. even with in the same bank i got charged 80 dollars in fees once for depositing checks when i never got charged before that or after it. I was able to get 40 of the reversed.

basically with that particular bank i realized that they would basically make anything up to 5k in foreign checks available to me right away. when i deposited 2 checks for 3k one was made available right away, the other went to collections and I was charged the fees i mentioned.

I have a large balance and have been with them for a while, im sure if i had a smaller balance the courtesy amount they make available would be a lot less. keep in mind them making a the funds of a check available does not mean they have actually cleared yet.

this. if this is at all standard in your bank get a real bank.

Just came back from a different branch but this time I was able to speak with a more knowledgeable branch manager so hopefully this information will be of some help to anyone reading this. She basically told me the same thing about sending the check off to collections if I wanted to use my account with them but the bank charges for this process. She then told me to try to deposit through the ATM, and if that worked, I would not be charged a fee for collections, but that ultimately failed. My last resort was to close my current account (which was originally opened in NY) and open a new account (in CA) and then deposit the check. It was a hassle, but in the end, the teller was able to accept the check without question.

The branch manager told me each state has different protocol as to how banks handle foreign checks. NY accounts will not accept these checks unless sent to collections for a fee. However, in CA, they are able to accept it without hassle and usually clears within two business days.

I've been playing on there since October and have always used the same Visa debit card to deposit. The Visa withdrawl option was just made available to me a few days ago.

*requested VISA CARD PAYOUT (!!!!!!!!!!) on December 23rd at 12:30 a.m.
*approved December 24th at 9:00 a.m

Got an email saying it should show up in my bank account within 5 business days. Will update when it goes through.

***Note----the Visa Card payout option is NOT eligible for the one free withdrawal per month.

I didn't understand the part where you said "I was able to get 40 of the reversed". Do you mean you were able to get $40 back from the $80 they initially charged you? I know that it's my bank's incompetence fault overall but I need to go there complain and tell them what exactly they did wrong, etc. in hopes of recovering some money. I'm thinking of just saying that many other people in the same situation wasn't slapped with fees in any way, which speaks for itself that my bank did something wrong in this case. $70 is not a big deal but I hate getting ripped off.

ive never seen a visa withdrawl just check, wu, and mg. i just looked at my cashier and dont see visa withdrawl option. can someone explain to me how this works and how to get it enabled, and the fees?

ps. i deposited netspend fwiw.

sorry that should have read of of it reversed, with it being the 80 dollar charge.
my bank said the 80 was a 40 dollar charge from them and 40 from the issuing bank. they said they would give me a courtesy 40 dollar credit for their fee but couldnt do anything about the 40 the issuing bank charged.

it definitely can't hurt to ask.like i said the only time this bank charged me was when i had more than 5k in uncleared foreign checks, so now i just won't deposit more than that from bodog within a few week period.

i've deposit about 20 checks using 3 banks and 1 credit union in the last year and i've never been charged otherwise.
I would say about half have gone in the atm, and of the other half 3 times the teller looked at the check like it was confederate money and needed to get help to deposite it to my acct.

Ty for keeping us updated.
I was told that you have to have adequate playing history to get this option. Who knows what defines that... I get the impression they're just rolling this feature out, I'm going to continue grinding and just keep an eye on my options and if I hear nothing in a month or two I'll prob contact support again inquiring about it, depending on what I see from others itt.

Just thought I'd give an update on my recent Bovada cashout.. I requested a bankwire three weeks ago and received it in ten business days. Somehow, either Bovada or my bank took a 3% vig on the transaction. My bank statement isn't showing any fees, so I'm not sure where it went. Since the bankwire was from a Canadian bank, it could be the exchange rate. I'm absolutely not going to complain about it either to Bovada or my bank- 3% vig for a US player seems to be a steal these days.

Yes it is,I had to write them and they put the $50 back in my account.

Same here, but from their email it sounded like it was an error that the page read "eligible as free payout." So they ended up reversing the fee/crediting my account $50.

bank wire requested 12/13, approved 5 hours later, received 12/24 as available in my bank (not pending)
truly impressed with these guys.

I also used a visa credit/debit card (once debit, once credit) to deposit and went through fine