Bet Phoenix - piss me off

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Mudcat

Mudcat

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Just need to vent.



July 20th - I request a $4000 Moneybookers withdrawal

Aug. 9th - I receive a cheque for $3000. I am perturbed. I don't understand why they have changed the method and amount. But the payment is already late and I talk to my account rep and say, screw it, I'll just process the cheque. He agrees and says sorry for the mix-up. I have the e-mails from this exchange but whatever. Life goes on.

Today - I am surprised to see $4000 suddenly hit my Moneybookers account from Phoenix. I check my Phoenix account balance and only $1000 has been deducted. Why? They have put a stop payment on the $3000 cheque (which I deposited and spent a week and a half ago).



What is wrong with these people? I don't know if the stop payment can actually work after this much time. Best case, the bank says NO to the idiots - it's too late. But if it actually does work, I do not have enough money in my accounts to cover it so I have to start scrambling around and possibly incurring fees.

It could also damage my relationship with the bank. They currently don't put my US cheques below 5K on hold but I could see this situation changing that.

Now if the stop payment doesn't work and the cheque is mine, then I am actually overdrawn on my Phoenix account because they will have given me more in payouts than I have in my balance. Tough shit for them I suppose - although I guess I will send them by Moneybookers whatever they have overpaid. Idiots.

And if we set the whole cheque situation aside and just look at it a straight Moneybookers payout, it took a fucking month which is TOO FUCKING SLOW!!!

They have pissed me off from about 6 different angles.



That is all.
 
I have had a $4k MB withdrawal request there that remained pending for over 3 weeks. Ended up canceling it. That was early this year, maybe even late 09.

I don't trust these foks one bit.
 
Do you guys think SBR is deliberately concealing knowledge of money issues at BetPho in the hopes that football deposits will return them to solvency?
 
I honestly don't believe that they have money issues. Haven't they made a number of acquisitions lately?

I think they're simply incompetent.
 
That's exactly what Elihu told me as well. He said they have deep pockets and they're not hurting for money to pay out, but they don't have anyone in management who has any clue about running a business, let alone a sportsbook. I just find it hard to believe that a person with deep pockets would open a sportsbook and not leave a business manager in charge to make sure it was run well and became profitable. What am I missing?
 
Seriously though, can they actually put a stop payment on a cheque after this long? The cheque was dated 8/4 and deposited 8/9. Today is 8/19. I don't understand the finer points of high finance but I wouldn't think you could do that after so long.

I guess I'll find out.
 
in the US muddy, usually there is a 48-hr window for a stop payment to happen
 
Generally, national banks honor a stop payment request. If you properly record a stop payment order and the bank cashes the check, the bank may be liable for the cashed check.

However, the bank is not liable if—

* you fail to provide enough information to identify the check or
* you fail to provide sufficient noticeto implement the stop payment order.

In addition, a written stop payment order often expires after 6 months. It can be renewed for another 6 months.

If you issue a stop payment order orally and do not confirm it in writing, it lapses after 14 calendar days.

http://www.helpwithmybank.gov/faqs/banking_stop_payment.html#drop03
 
MonkeyF0cker
I honestly don't believe that they have money issues. Haven't they made a number of acquisitions lately?
Click to expand...

Why is everyone saying that? What do we know about the owner? Acquisitions could only mean that they have easy access to credit and/or that they're not profitable by themselves.
 
From what I've been told, the owners are Dino (the owner of DSI) and Richard Jones, who also acts as CEO, of BetRoyal and BetCascade fame(infamy).
 
Mudcat
Seriously though, can they actually put a stop payment on a cheque after this long? The cheque was dated 8/4 and deposited 8/9. Today is 8/19. I don't understand the finer points of high finance but I wouldn't think you could do that after so long.

I guess I'll find out.
Click to expand...

The TD bank puts a 3 week hold on my US cheques because they said that's how long it takes them to find out if it's good.
 
Yeah that's what they used to do with me then I worked out a deal with my branch that cheques under 5K USD get cleared immediately. That's nice.

But I guess the 3 week thing indicates that they could successfully stop payment on that cheque which could trigger a series of negative consequences. That sucks. I've got a great relationship with my branch and these wanksticks better not fuck it up.
 
A week later there is still no reflection of this fuck up in either my bank account nor my Phoenix account.

I'd give Phoenix a phone call and ask what's up but I think I'd rather just slam my head against a brick wall.
 
that is better news muddy...

glad ur bank account didn't get messed up
 
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