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killnine
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07-13-2009, 11:01 AM
Post subject: Cash-out question (PartyPoker)
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#1 (permalink)
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Join Date: Jun 2009
Posts: 21
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I have an orphaned very small bankroll on PartyPoker I'd like to bring over to PokerStars, just to subtract some time from the 2NL grind, basically.
Now, I cannot yet withdraw to my Moneybookers account on Party because I have not used it yet to deposit.
Which brings me to my question: if I make a minimum deposit with Moneybookers, will I be able to withdraw that money again right away?
I looked for cash-out policies and what have you but couldn't find anything about this and / or suck at searching for this stuff...
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jyms
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Tilting Mod
Join Date: Feb 2006
Posts: 4,837
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I would spend a session playing a couple hundred hands first after your deposit. Party is pretty relaxed with cashouts, but you do need to look like your not scamming.
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daven
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Straight Flush
Join Date: Aug 2007
Location: soaking up ethanol, moving on up
Posts: 5,818
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last time i looked you had to "clear" your deposit before being able to withdraw it.
Search their site to find details
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killnine
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Join Date: Jun 2009
Posts: 21
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Thanks Jyms, Daven.
So urged on by what I suspected and you both confirmed I scoured their site a bit more, and went from policies to FAQs (aargh, guess my brain was still sleeping this morning...) and found the answer.
I'll just post it here so this thread is not entirely useless and I can work on getting 10 posts in order to post HH's. 
Quote:
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Before you are able to cash out monies deposited by you or received by way of Inter-Account Transfer or Gift Certificate you must first have earned Standard Player Points with such monies (excluding any bonus points awarded) greater than or equal to15% of the amount received in USD ('Release Requirements'). Where such monies are deposited or received in a currency other than USD, the required 15% of Player Points must be calculated on the value of such monies in USD (based on the exchange rates offered by us at the point of cash out. Providing you have earned the required player points you will be able to cash out up to $3,000/£ 1,500/€2,000 without further restriction.
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bjsaust
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Straight Flush
Join Date: May 2007
Location: Ballarat, Australia
Posts: 5,842
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Is that just straight points to US$? Like if you deposit $100 you need to earn 15 points before you withdraw?
Anyone know what the 'further restrictions' for greater than $3,000 are?
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Just playing to improve.
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Jack Sawyer
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4-of-a-Kind
Join Date: Jan 2007
Location: Old School
Posts: 2,535
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if you deposit then immediately withdraw, you will set off all kinds off flags and alarms involving money laundering. not surprisingly, there will be consequences when or if you do this.
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killnine
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Join Date: Jun 2009
Posts: 21
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Quote:
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Originally Posted by bjsaust
Is that just straight points to US$? Like if you deposit $100 you need to earn 15 points before you withdraw?
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That's how I understood it.
Quote:
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Originally Posted by Jack Sawyer
if you deposit then immediately withdraw, you will set off all kinds off flags and alarms involving money laundering. not surprisingly, there will be consequences when or if you do this.
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You mean even after following the policy quoted above?
Perhaps it is not worth it then... It is only a measly 20-something USD I'd like to move into Stars instead - could just make an additional deposit there when there's a nice reload bonus...
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daven
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Straight Flush
Join Date: Aug 2007
Location: soaking up ethanol, moving on up
Posts: 5,818
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Quote:
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Originally Posted by bjsaust
Anyone know what the 'further restrictions' for greater than $3,000 are?
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it was ages ago so may have changed?
all it involved for me was sending some identity and address verification. For either party or neteller (can't remember which, sorry!) I also had to provide a contact phone number and wait for them to call me to do their identity verification thing.
Not too much hassle, but best to do it BEFORE you need the money, just in case it takes a couple of days.
I suggest that you write party support an e-mail and get it all sorted in advance. Especially cos you want to be able to pull $$ as soon as your bonus clears so you have $$ to deposit if a new reload arrives.
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killnine
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Join Date: Jun 2009
Posts: 21
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Just thought I'd update this thread with results: I ended up depositing $25, played for about 2.5 hours for 3.75 PartyPoints, requested cashout, had it approved within 5 minutes and the money within an hour. I did explain in detail in the comments field.
Up to 5NL now! :toot:
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