debit cards/fast payouts

[Jeff]

This was mentioned in another thread, and I figured it deserved it's own heading.

I recall several years ago, before there really was an offshore "industry", Bowmans had plans for introducing a debit card, that would work just like an ATM. It would have worked directly off of your account at Bowmans I believe.

I know Millenium has the debit card, I'm curious why we don't see more of it....

[BigMoney]

I think ABC also has this option set up. It sounds like a good idea for fast payouts. There are some limitations and drawbacks, however.

First, you have to call the sportsbook and ask them to transfer funds to the card. Then, within hours you can withdraw up to the ATM limit (usually $300 or so). There is a couple percent fee, I believe.

What I'd like is a debit card that I could use for no-fee purchases with the typical $1500 per day limit, or for a cash advanced in a smaller amount. And i'd like for it to automatically come from my sportsbook account, rather than me having to call and transfer funds to a bank. It could actually be a credit card with automatic payments from the sportsbook account. It really shouldn't be too difficult.

[Joez148]

I used the ABC debit card, no problems. But theres no limit to the amount you can get. The only limit would be on what the ATM lets you take at one time. When I took mine the ATM limit was 600. So I wanted 1000, I took 600 then did it again for 400. I think they charged me 10 bucks for each tranaction so 20 total to get the 1000. I called ABC late in the day and asked for the money to be transfered into my Debit account. Sometime after midnight the money was in there just like any other bank transaction that updates during the night. The bank mails me a detailed statement every month and they take deposits by mail, wire just like all the banks here.

[ShiftySheik]

The ABC card is the fastest and cheapest way to get a payout. I have not yet used it to get cash but have used it for every day purchases. I was told it only cost $5 for a cash advance. You could get more than the ATM limit by going to a teller inside the bank. I've tried to use the card at some other books but it gets declined because of incorrect address verification. Can't figure out why.

[The Guesser]

I've used The Millennium Debit card for withdrawal twice with excellent results. Called Millennium before 2PM EST, requested amount, $$$ were available next day for Withdrawal at any Bank that accepts M/C Cash Advance with $3 fee no matter what the amount. Hopefully things like this will become the industry standard.

[PEPOCAS]

this method could and should be offered by most of the books in antigua. they all have a close relationship with the two major banks there. the reason the address of the card holder does not match is because the statements are sent in bulk from miami to the offshore bank and then to the proper credit card holders address.

[mr green]

What is Millenniun's web addy or phone number? Thanks.

[BigMoney]

www.millsports.com

[Cashman]

I have been very happy with my Millenium Mastercard. Great idea that makes things much more convenient for us. I would love to try ABC's but they apparently are going to 20cent baseball line so I will have to pass.

[MAXIMUM VALUE]

Guesser,Cashman

Could one use this credit/debit card as a offshore bank account,so one could have other books transfer funds to and from this card?

Also what is the limit on how much can you withdrawl from your ATM in one day?

Thanks
MV

[Cashman]

Maximum Value,

I have not done this myself. I have only had the card for a couple of months. Not sure about the amounts you may be dealing with so you may have to contact bank in Belize issuing the card. Once your card is "credited" you can use it just like a normal credit card. I think it should work. Many books have restrictions on credit cards for withdraws and deposits you may want to look into that aspect. As far as ATM withdraws not sure on max but that often depends on bank or ATM being used for withdraw.

[ShiftySheik]

Cashman, There's really no need to have both cards. Just tell ABC to credit your Millsports card when taking a payout. They both use the same bank. Either book should accomadate you if you're using the other's card.

[Cons]

Actually, living in England your bank can issue you a debit card called "Switch." You can use the card with just about every British sportsbook, which is why I have accounts with a dozen English books yet not a single deposit at any of them...

[BigMoney]

Why couldn't Americans get the same debit card? Do any of these books deal with American clients? Or are all of these only with the books that operate within the local high tax structure?

[Cons]

All these books deal with American clients. Government here is much too powerful to give in to any pressure (from anywhere).

You would need to fly over to set up an account I think, though it might be possible through other means.

Most books are now tax-free, but the juice is still too high. It might be best to wait until the vig starts dropping...