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Payout Limits Correction Cashmio - payouts ARE limited contrary to review

Discussion in 'Accredited Casinos Updates' started by forgotlogin, Dec 1, 2017.

    Dec 1, 2017
  1. forgotlogin

    forgotlogin Newbie member

    Location:
    Finland
    as per terms and conditions point 9.7:
    9.7 All winnings of 50,000 EUR or more (excluding progressive jackpot wins), we reserve the right to divide the payout into ten installments, paid with 10 per cent of the winning sum every month until the full amount is paid out.

    so it will take 10 months to get 50,000!!!
     
  2. Dec 1, 2017
  3. lnspin

    lnspin Senior Member webmeister

    Occupation:
    Webmaster - Mygamblinglife.com
    Location:
    WorldWide
    Yes. So if you get up to 50k play 1 slot spin for $1 and cash out $49999
     
  4. Dec 1, 2017
  5. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    :what: So how much is that per month?
     
  6. Dec 1, 2017
  7. forgotlogin

    forgotlogin Newbie member

    Location:
    Finland
    well i was lucky enough to win 65k eur so im not going to complain, but they are enforcing this and saying i will receive eur 6,500 per month for 10 months.
    bad really because my total deposits is 12k eur.. will take me 2 months to break even..

    in addition they are charging 2.5% for each neteller withdrawal which will amount to 1650euro for me..:(


    i do feel the review on casnomeister h
    therefore is innacurate given that it says :
    _____
    No withdrawal limits also affects their score. One of the most frustrating things for players is being given chunks of your winnings one bit at a time. Many casinos have limits like €2K to €5K per week – and in most cases, players will play their winnings back which is just horrible. Well, it’s not the case here – at Cashmio Casino, you’ll get your winnings in one big lump.
     
  8. Dec 1, 2017
  9. mcgameboy

    mcgameboy Screenieholic & Essayist mm2

    Occupation:
    Casual Stocktaker (Inventory Counter)
    Location:
    Belfast
    That's an absolute disgrace. So basically they are saying to NETELLER users "if you dare to win at our casino, we're taking 2.5% of all of your profit plus 2.5% of your deposit". No wonder I don't want to play there.

    I guess a 3 - 4% house edge on slots isn't enough for some casinos :rolleyes:
     
    Jasminebed likes this.
  10. Dec 1, 2017
  11. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    Isn't that capped out somehow? I am waiting for the casino rep's response.
     
  12. Dec 1, 2017
  13. forgotlogin

    forgotlogin Newbie member

    Location:
    Finland
    sadly not no, theyve processes 5k so far minus 125 fee (4875) and will do soon 1500 (minus another fee) and then i will have to wait a month to request more
    thanks for looking into this quickly casinomeister :)
     
  14. Dec 1, 2017
  15. Tirilej

    Tirilej Still a Lady CAG MM

    Occupation:
    Breathing
    Location:
    Sweden
    Congratulations :thumbsup: Not a bad win!

    The time for payout is bad though, and the fees are awful. The worst I've ever heard about.
    Please don't play a cent back. They don't deserve it.
     
  16. Dec 1, 2017
  17. colinsunderland

    colinsunderland Experienced Member MM webmeister

    Occupation:
    affiliate
    Location:
    uk
    Thats disgusting and tbh I don't think any casino that does this should be accredited.

    So if you won 49999 they would pay you in one go, you win 65000 and it will take you 8 months to get the same from them as if you had won the lower amount.

    Why not pay you the 50k now and spread the other 15 over 10 months (not that I agree with that, but it would be fairer).

    What this says to me is the casino can't afford to pay its debts, and what flashes in front of my eyes is AVOID AVOID AVOID

    I also don't like any term that says 'we reserve the right' that to me is we might, we might not, hey, you take the gamble what we will do. Say what you mean, in plain English, so players know where they stand.
     
    Jasminebed likes this.
  18. Dec 1, 2017
  19. SpinUk

    SpinUk Senior Member MM PABnonaccred

    Occupation:
    Marketing
    Location:
    London
    Had the pleasure of paying 60 euros for a debit card withdrawal here a week or so ago - they refused to do a free bank witdhrawal direct to my bank even thought the debit card has my account number on there...
     
  20. Dec 1, 2017
  21. dunover

    dunover Unofficial T&C's Editor CAG PABnononaccred PABnonaccred PABinit mm3 webmeister

    Occupation:
    International Money Launderer
    Location:
    the bus shelter, opposite GCHQ Benhall
    So basically you win 55k, and then you have an incentive to lose 5001 back, in order to withdraw 49,999 in one go.

    Now anybody sane will ask the same question - "If you can pay 49,999 in one hit, why does 65,000 take 10 bastard months?" :rolleyes:
     
  22. Dec 1, 2017
  23. Cyclops

    Cyclops Owner of Americasino.co

    Location:
    Bexhill-On-Sea
    Lovely win

    Shame about the fees though it shouldn't be aloud :mad:
    I would not be impressed if I had to wait 10 months and 2.5% loss with each monthly withdraw.
     
  24. Dec 1, 2017
  25. colinsunderland

    colinsunderland Experienced Member MM webmeister

    Occupation:
    affiliate
    Location:
    uk
    on the 2nd June 2016

    https://www.casinomeister.com/forum...-cashmio-giving-go-post763156.html#post763156

    Not sure why they are charging 2.5% on this withdrawal.

    Plus, if they split a withdrawal, then it should be €2.50 on the withdrawal as a whole, not each time, not your fault the casino split it.
     
  26. Dec 2, 2017
  27. mcgameboy

    mcgameboy Screenieholic & Essayist mm2

    Occupation:
    Casual Stocktaker (Inventory Counter)
    Location:
    Belfast
    That was from well over a year ago Colin. That is most definitely not the case now.

    On deposits, the fees are 2.5% on Visa, Mastercard, EUteller, Neteller, Skrill and Ecopayz.
    The methods which have no fee are Trustly, Paysafecard, InstaDebit, SOFORT and P24.

    On withdrawals, the fees are 2.5% on Visa and Ecopayz, 2.5% (with a MINIMUM of £2.50) on Neteller. Trustly is £3, Bank Transfer is ZERO (although their bank transfer processor may stick on a charge - depends if your account is in Euro and you are requesting a Bank Transfer to a UK bank I guess - because when I had a Cashmio account in Euro, I was told there was no fee and then I get a letter from my bank telling me that WORLDPAY had slapped a fee of £7.50 - on my sub-£100 withdrawal - not impressed).
    .
    Skrill is a MINIMUM fee of £2.50 but does not even specify what percentage it is or what the maximum fee would be.

    Withdrawals to Mastercard are not available, even if you use Mastercard to deposit.

    So Keith says one thing last year (presumeably to help them get a better rating and a better shot of passing the BBF) and Cashmio then sneakily change the fees across the board and don't have the decency to inform CM or anyone at CM of the changes, presumably because they know it might affect their rating for the worse. Classy move, Cashmio :thumbsup::rolleyes:

    So basically, if you don't have Trustly, you may as well not even bother winning. If you do, they'll take a percentage chunk out of your withdrawal as punishment.
    In fact, if your deposit accounts for a part of that withdrawal, you are paying a 2.5% fee to make your deposit and another 2.5% fee to get it back plus your profit, which is also subjected to a 2.5% TAX.

    Really Cashmio? Why don't you just go the whole hog and cut my balls off as well as the one arm and one leg?

    They were 9.2 CM rating when they passed the BFF, they have since dropped to 8.9. In my opinion, that is generous. These fees are disgusting and completely ANTI-PLAYER.
     
  28. Dec 2, 2017
  29. mcgameboy

    mcgameboy Screenieholic & Essayist mm2

    Occupation:
    Casual Stocktaker (Inventory Counter)
    Location:
    Belfast
    That's hardly an incentive mate. That's more like a blackmailer's fee. They basically don't want their customers to win. Any of them. It stinks of a Playtech dickmove.
     
  30. Dec 2, 2017
  31. colinsunderland

    colinsunderland Experienced Member MM webmeister

    Occupation:
    affiliate
    Location:
    uk
    Thats exactly what I think too. Never mind the rating, doing sneaky underhand crap that like should be enough to get them in the pit, let alone dropping a rating.
     
  32. Jan 5, 2018
  33. colinsunderland

    colinsunderland Experienced Member MM webmeister

    Occupation:
    affiliate
    Location:
    uk
    Did they ever respond?
     
  34. Jan 22, 2018
  35. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    I have no idea. I'll ask again.
     
  36. Jan 24, 2018
  37. alexCashmio

    alexCashmio Affiliate Manager for Accredited Casinos

    Occupation:
    Casino
    Location:
    Malta
    Hi guys,

    I’m very sorry for the late coming of this reply, I had not become aware of this thread until yesterday. Please do contact me straight away with problems, and I will diligently help you asap!

    So, let’s see if I can catch all the subjects that have been mentioned here.

    Regarding our T&C:
    9.7 All winnings of 50,000 EUR or more (excluding progressive jackpot wins), we reserve the right to divide the payout into ten installments, paid with 10 percent of the winning sum every month until the full amount is paid out.

    As you know we´re still an upcoming casino, we´re far from as big as Leovegas or Casumo. This means an ultra-mega big win will hurt in our pocketbook, and we need to protect our future to be able to provide that happy presence we know the world needs to become a happier place.
    We needed a roof to the T&C which we chose to be 50k, but as we “reserve the right” we don’t mean to enforce it every time, or to players who win the exact amount, or a cent over it, it´s simply to protect us from the really big wins. (I noticed that the review showed wrong, and I’ve asked to get it updated.)

    When it comes to our fees, these are fees enforced upon us. We have not added them just for the joke of it, and I agree with you that they are very unfunny. I have brought this feedback further to be looked at.

    I cannot express it enough, come to me straight away with problems, so I can put action points in it faster than you can say ”Please check!” :)
     
  38. Jan 24, 2018
  39. colinsunderland

    colinsunderland Experienced Member MM webmeister

    Occupation:
    affiliate
    Location:
    uk
    You haven't really answered anything there being honest.
    You added fees after you went through the BBF, where is your post telling members this?
    A minimum fee of £2.50 for skrill. So really, as you don't specify any further than that, if I withdraw £100, you could charge a £99.99 fee leaving me with 1p. I know you will say you wouldn't do that, but where are the fees listed?

    Your limits, I do understand you need limits, and accept fully you probably couldn't sustain 10 players winning £100k on the same day and paying them all out same day. However, someone wins £52000, then they will, in a lot of cases, try to lose £2001 to get under the limit and get paid fully all at once. Surely you can see that paying someone in full who wins £49999 but if someone withdraws £52000 they get £5200 per month isn't fair? Why not pay them £50k straight away, the rest the following month, or if it was say £100k, 50k straight away, then the other 50k over 10 months.

    As you are operating within the EU, it is now unlawful for you to charge payment fees, so why are you still doing it?
     

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