A Neteller or Skrill account would be better. This is the problem with using a bank account for gambling. Paypal can react badly if the "wrong kind" of transactions are made, whereas Neteller and Skrill are designed specifically for online gamblers. Having to be careful about how you fund these eWallet accounts will also place limits on the amount that can be lost through a session of being "on tilt".
Why better? Don't you think the banks/card companies already know what these webwallets are for?
For bank accounts, the best option would be a secondary account with a different bank, one that you don't intend getting a loan from. Keep the main account free of any gambling transactions so that if reviewed, the type of transaction will not count against a loan application. Unless gambling results in unaffordable debt, it should not become an issue with credit checks.
Nonsense. Sorry VWM, but it is. My missus has worked in banking for 18 years, which is why I can answer most banking questions that arise on this forum. A credit check with the 3 main credit reference agencies will show ALL accounts up, dormant or live, and if an interest in gambling is a criteria for the lender, they'll find it.
Credit card providers are accepting, but discouraging some gambling transactions to UK based companies, and blocking them altogether for others under "online fraud prevention measures". They are no longer classed as purchases, but as "cash advances", and attract interest from the date they are made, and sometimes the cash advance fee of up to 3% on top.
True, and it's the 'cash advance' label which can be as damning as any identifiable gambling transaction as I explained in my previous post.
Putting gambling transactions through a credit card leads to high interest rates, as I found with my main gambling card (Barclaycard) who both gave me a HUGE credit limit, but imposed a store card 29.9% interest rate. They eventually stopped treating the transactions as purchases, and would charge 29.9% from the date of the transaction, which meant I no longer used the card for gambling.
You got the wrong Barclaycard - I have a 'simplicity' one with a purchases rate of 6.5% permanently and a cash rate of 16.67% permanently - with a large limit. There is a 2.99% fee on gambling processors, and like you said interest from day 1 on them.
I deposit via my Cahoot account when my Neteller needs a refill, but when it needs emptying, this goes to my main account. This means that they see a steady income, but boosted by some pretty nice "internet based earnings" on occasion. I have not yet been declined for a loan from there
LOL..you are naïve where banking matters are concerned. Your Neteller w/d's will make NO difference to how your account is viewed; the same effect is achieved simply by transferring money between your bank accounts online to simulate high receipts and spending. I have a HBOS current account not used, but I simply do a few online transfers totalling 1k plus to qualify for a free £5 cash each month. The 'computer' at the bank has no idea whether that's salary, winnings, gifts or a bribe from Al Qaeda - it just pays me.
Using UKash alone can make it harder for casinos to run KYC checks, and hence a UKash only player may run into problems when making withdrawals, and some casinos INSIST such withdrawals involve their bank, which means the bank gets to find out about the gambling in another way.
What, you mean like your 'withdrawals from Neteller you mentioned above?
Maybe, but not all cards treat gambling as cash transactions and charge a fee. My Natwest ones don't (yet).