Withdrawal from betting site classed as refund


(Seumas Beathan) #1

Hi guys,

Very minor issue this and not something that matters all that much but recently I noticed that when I made a withdrawel from bet365 after some success during the World Cup it was put into my account and classes as a “refund”

Obviously winnings from betting or other types of gambling aren’t really a refund so I was just wondering if there would be any way to perhaps add a custom tag for these type of payments, “winnings” or “withdrawal” etc

Cheers guys:)


(Andre Borie) #2

It could’ve been processed as a refund, especially if the original top-up transaction wasn’t settled yet - that way they can give you access to your winnings immediately by adjusting the initial authorisation in real-time instead of doing a credit which could take a few days even on Monzo.


(Nathan) #3

Also noticed this today myself for a withdrawal from sky bet. Is this an issue though? Surely its a good thing coming as a refund as itll be compared against the initial deposit if taken from your monzo account and then reflected in your summary as positive money for your category the same way as a transfer?


#4

Likewise, the same has happened with me when I withdrew some cash from Coral.


(Seumas Beathan) #5

It’s not really an issue no, as I said it doesn’t really bother me at all, just thought that it’s sometnig that could possible be changed, I’d still want to have it grouped with me outgoing transactions to bet365 or whoever it may be but for the incoming transactions it would be nice to be “withdrawal” instead of refund I think


(Liam W) #6

Withdrawals from betting sites are processed as refunds if done to debit/credit cards.

Some do have an option to do it as a bank transfer.