DON'T OPEN AN ONLINE TOTE ACCOUNT!!!!

I recently opened a tote account. Last week I wanted to withdraw money out of the account and their site said withdrawal request sent. Days passed and still no money appeared in my bank account or any corespondance received. So I phoned them today, and their helpdesk lady Miriam told me I could not withdraw the money, I HAD to bet it. So I said it's my money, surely I'm entitled to it! I've never had a problem withdrawing money from other gambling sites, this is my first ugly experience. She said her manager would phone me tomorrow because they are in a meeting... She refused to give me her manager's name... Now tote are resorting to stealing from their customers...

Afternoon Unlucky, did you win a betting voucher or put cash in the account?

I put cash in. Now I can't withdraw it. They say it's against their policy and that deposited money must be betted before it can be withdrawn. My eagle eyed girlfriend found this in their small print....

3.6 No withdrawal will be allowed on any deposits made into a customer’s TAB Betting Account.


Customers are only allowed to withdraw effects of winnings or dividends.

That is blatant thievery if it is indeed the truth!!!!

So if I deposit R100 and put the R100 on a place bet that 'wins' returning R1.10 a place (which gives me R110 in my account), am I only allowed to take out the R10 profit? And if I only use R50 for the bet (which would leave my account at R105) can I only take out the R5 profit? Do they keep track?

Also had this a while ago, you have to make a bet or a winning bet to be able to withdraw. One of the rules they say..

Wow!

I guess Standard Bank are also in trouble I put my card in yesterday and the machine says "insufficent funds"

but serious "customer concerns" do not appear to be a high priority

Why do I feel like I've been suckered....

It is an underlings interpretation of FICA,to prevent money laundering.......to comply,they must refund non-betted money into,and ONLY back into the same account from which it came.
Some time ago I won an exotic at a Bar/tote outlet and they had no cash to settle...I asked them to deposit into my telebet so I could draw the next day.They tried this same nonsense and I offered to sue,and publish the result.They suddenly found a different interpretation!

Tote is broke - go short on the shares!

It makes perfect sense . People finding new ways of laundering money .

UD,hopefully the manager will use initiative.They must merely transact in a manner which inhibits laundering or re-directing.