Personal Bank account for gambling

momordica

Active Member
Hello,
any ideas for a personal bank account, ideally with remote opening, which will understand that source of the funds is gambling winnings and will not have problems with outgoing/incoming transactions from regulated gambling websites (mostly based in Malta)?
I am an EU citizen. In my country are transactions blocked by the banks bc of new regulation... gambling websites which do not hold a license in my country are prohibited for transactions. I used Revolut for a while, after 27k outgoing they ask to verify the source of my funds. I sent documents they asked, and haven't heard from them since then (under review for 2 weeks / good platinum service). The balance there is 0, so no problem. I am sure, after a while, they would realize that besides expenses with my card, I am doing basically doing transactions to and from 3 bookmakers, nothing suspicious, but it looks like they are not willing to give it a try.
I suppose, all EMIs will be the same in this regard, and most of them will not even offer a dedicated IBAN. So what other solutions within the EU are possible? LHV in Estonia? Are they OK with gambling as the only income/source of funds? The remote opening would be the best, but if there is any traditional bank, without need to make 6figures initial deposit, I can go for a personal visit as well.
 

void

Trusted Member
Business Angel
Transferwise has no problem with gambling - speaking about receiving winnings. Personally tested.
 

momordica

Active Member
They have in TC that gambling is prohibited, I am not going to gamble on the fact they will confiscate my funds after I do a withdrawal from bookies.
 

moneyhoney

Building Trust
Entrepreneur
Transferwise has no problem with gambling - speaking about receiving winnings. Personally tested.
Did you ask them? They will tell you it's absolutely not ok. Another thing is they don't check all the transactions, so you can do it and not facing problems. But if they do, they block it.

The only popular EMI with IBAN ok with gambling is Epayments as far as I know.
 

void

Trusted Member
Business Angel
Did you ask them? They will tell you it's absolutely not ok. Another thing is they don't check all the transactions, so you can do it and not facing problems. But if they do, they block it.

The only popular EMI with IBAN ok with gambling is Epayments as far as I know.
using this on a weekly basis with huge amounts, no problem to receive winnings and send further (the source is totally legit)
yes, epayments is the same, personal experience

Neteller may be your solution, they are huge in gambling and you can transfer your money from there to any EMI or real bank account.
neteller and skrill are the obvious solution but it's worth noting they are not a full featured EMI - you can only withdraw to your own accounts (bank or EMI) and can't pay to third party accounts
 

momordica

Active Member
Thanks for the suggestions. I will try ePayments. Neteller/Skrill is the solution I wanted to avoid bc another party involved will make look the money worse once they arrive into my bank account. When the money is coming directly from the bookmaker to my bank account, the source of the funds is obvious. Revolut is also OK with gambling (only using the card is restricted for gambling) but they are just ridiculous.
 

blueweb

Corporate Services
Business Angel
Mentor Group
I will try ePayments. Neteller/Skrill is the solution I wanted to avoid bc another party involved will make look the money worse once they arrive into my bank account.
please explain?

Neteller offers a debit card which car be used at any shop and ATM which make it easier to spend the money. Alternative you can transfer the money to an EMI from there which accept 3party funding.
 

BlueMist

Building Trust
Entrepreneur
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neteller and skrill are the obvious solution but it's worth noting they are not a full featured EMI - you can only withdraw to your own accounts (bank or EMI) and can't pay to third party accounts
Skrill has launched a service called "transfer money" in partnership with XE.com , you can send money at mid market rates to 3rd party bank account. You can do it via debit or credit card and there are no charges. I wonder if virtual or prepaid Skrill (or Neteller) card works with this service as this could be a partial solution. Also it seems you can use this service without doing any currency conversion, e.g. you can send EUR/GBP without converting to any other currency.
 

void

Trusted Member
Business Angel
Thanks for the suggestions. I will try ePayments. Neteller/Skrill is the solution I wanted to avoid bc another party involved will make look the money worse once they arrive into my bank account. When the money is coming directly from the bookmaker to my bank account, the source of the funds is obvious. Revolut is also OK with gambling (only using the card is restricted for gambling) but they are just ridiculous.
no need to be worried
bookie -> Skrill -> epayments -> anywhere works without any problems
I'd consider it even safer than direct withdrawal to epayments
however be ready to provide proof for source of funds (account statement from the bookie)
 

Martin Everson

HNWI Offshore Consultant
Business Angel
Mentor Group
any ideas for a personal bank account, ideally with remote opening, which will understand that source of the funds is gambling winnings and will not have problems with outgoing/incoming transactions from regulated gambling websites (mostly based in Malta)?
You can try a PFS card

Prepaid Financial Services | Pre Paid Card Solutions UK | PFS

What can I use my PFS prepaid Mastercard for?
The PFS Prepaid Mastercard can be used for many purposes such as:

  • To use safely and securely on Gaming sites and make and receive winnings payouts
 

momordica

Active Member
please explain?

Neteller offers a debit card which car be used at any shop and ATM which make it easier to spend the money. Alternative you can transfer the money to an EMI from there which accept 3party funding.
If I move my money (winnings) from Neteller to my bank account, it will raise questions about the source of the funds. If the funds are coming directly from the bookmaker, it looks better.

Skrill has launched a service called "transfer money" in partnership with XE.com , you can send money at mid market rates to 3rd party bank account. You can do it via debit or credit card and there are no charges. I wonder if virtual or prepaid Skrill (or Neteller) card works with this service as this could be a partial solution. Also it seems you can use this service without doing any currency conversion, e.g. you can send EUR/GBP without converting to any other currency.
It does not work with Skrill prepaid or virtual. Tried when they launched.

no need to be worried
bookie -> Skrill -> epayments -> anywhere works without any problems
I'd consider it even safer than direct withdrawal to epayments
however be ready to provide proof for source of funds (account statement from the bookie)
Yeah, I will probably go this way. I can use my local bank this way, they are OK with PaysafeGroup transfers. I wanted to avoid bc of the reasons mentioned above.

You can try a PFS card

Prepaid Financial Services | Pre Paid Card Solutions UK | PFS

What can I use my PFS prepaid Mastercard for?
The PFS Prepaid Mastercard can be used for many purposes such as:

  • To use safely and securely on Gaming sites and make and receive winnings payouts
Thanks, it is not what I need for this purpose, but I will look into these cards... very interesting.
 

ontherun

Building Trust
Entrepreneur
another suggestion... if it's a Malta-HQ'd casino... register as an affiliate and request an anonymous MasterCard as an affiliate. then. ask to have your player account winnings transferred to your affiliate account instead of sitting on your player account. and then withdraw from your affiliate account to your Mastercard...

affiliate accounts have very little, sometimes NO KYC/AML checks at all. versus player accounts which are some of the most regulated things in the world
 
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