Payout Limits Correction Cashmio - payouts ARE limited contrary to review

[forgotlogin]

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!!!

 

[lnspin]

Yes. So if you get up to 50k play 1 slot spin for $1 and cash out $49999

 

[The Dude]

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!!!

So how much is that per month?

 

[forgotlogin]

So how much is that per month?

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.

 

[mcgameboy]

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.

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

 

[The Dude]

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

Isn't that capped out somehow? I am waiting for the casino rep's response.

 

[forgotlogin]

Isn't that capped out somehow? I am waiting for the casino rep's response.

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

 

[Tirilej]

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

Congratulations 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.

 

[colinsunderland]

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.

 

[SpinUk]

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...

 

[dunover]

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?"

 

[Cyclops]

Lovely win

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.

Shame about the fees though it shouldn't be aloud
I would not be impressed if I had to wait 10 months and 2.5% loss with each monthly withdraw.

 

[colinsunderland]

on the 2nd June 2016

https://www.casinomeister.com/forums/threads/cashmio-is-giving-it-a-go.73741/

On the deposit and withdrawal fees. They have been immediately changed from 2.5% to €2.50 fee. So on the €1,000 you mentioned you will pay just €2.50 max fee, on any deposit or withdrawal.

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.

 

[mcgameboy]

on the 2nd June 2016

https://www.casinomeister.com/forums/threads/cashmio-is-giving-it-a-go.73741/



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.

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

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.

 

[mcgameboy]

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?"

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.

 

[colinsunderland]

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
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.

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.

 

[colinsunderland]

Isn't that capped out somehow? I am waiting for the casino rep's response.

Did they ever respond?

 

[The Dude]

Did they ever respond?

I have no idea. I'll ask again.

 

[alexCashmio]

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!”

 

[colinsunderland]

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!”

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?

 

[alexCashmio]

Hi colinsunderland,

I took the liberty to number down your questions so I won't miss any.

1. I went to answer the OP´s question how the T&C truly works. I´m clarifying it further in point 4.

2/3. We have updated this on the bottom of our page if you navigate to “Payments” and then “Our Payment Methods”. It specifies 2.5% (minimum fee €2.5), so I can even guarantee that we won’t take 99.99% of your withdrawal as a fee. Our intentions were not to sneak anything in, as we show it clearly on our site. I simply wasn't aware a post of all changes were needed :/ I´m trying to make sure our review stays up to date at all time.

4. This is exactly why we have written “We reserve the right”, this line doesn’t mean we must do it. We have added exactly this line to be able to exclude these cases from this T&C. €50k was just for us to put a number in there. As mentioned in my previous post, we do not mean to enforce it every time.

5. We are aware of this, we are currently waiting for answers regarding this from our white label provider, I can assure you they will be changes accordingly. As we have a license to live by, it would be foolish not to follow regulations.

I hope this gives more clear answers.

 

[alexCashmio]

Hi guys,

Just wanted to update all of you regarding our fee. As you fairly pointed out regarding our fee´s, we have now been given directions to remove them, and can now happily announce that we are completely fee less on deposits and withdrawals!

I hope this can help with some of our shortcomings in this thread.

Please don’t forget to come to me straight away should you have any problems, or notify me if anything regarding Cashmio is unclear in any thread.

 

[colinsunderland]

Hi guys,

Just wanted to update all of you regarding our fee. As you fairly pointed out regarding our fee´s, we have now been given directions to remove them, and can now happily announce that we are completely fee less on deposits and withdrawals!

I hope this can help with some of our shortcomings in this thread.

Please don’t forget to come to me straight away should you have any problems, or notify me if anything regarding Cashmio is unclear in any thread.

Can you explain why I am getting spammed by an affiliate for mrsuperplay on an email address that has only ever been used to sign up to your casino (cashmio@mydomain.com)? Have you gave the email addresses out or has someone stolen them?

 

[alexCashmio]

Hi Mr Colinsunderland,

First of all, I cannot express enough how seriously we take our licenses, as these are what indicates our seriousness and trustworthiness. With this said, I want to point out the point in our T&C that also points this out:

20.1 We are required according to the Data Protection Act of 2001 (Chapter 440 of the Laws of Malta) and the Data Protection Act 1998 to comply with data protection requirements in the way in which we use any personal information collected from you in your use of the Website. We, therefore, take very seriously our obligations in relation to the way in which we use your personal information.

This is something we haven’t / won't / and do not plan to breach.

I also want to express that we cannot be responsible for what third parties are sending, as it is not directly in connection with our company.
However, we will, of course, do our utmost to make sure no wrong information or spamming is occurring in our name. In this specific case I could not find any affiliate relating to what you mentioned, nor any account of yours with the email you provided, did you provide the wrong email?

If you would provide more information such as the email that was sent to you, then I can look into it some more. Please forward further information in a message to me.

Best regards,
Alex

 

[colinsunderland]

Hi Mr Colinsunderland,

First of all, I cannot express enough how seriously we take our licenses, as these are what indicates our seriousness and trustworthiness. With this said, I want to point out the point in our T&C that also points this out:

20.1 We are required according to the Data Protection Act of 2001 (Chapter 440 of the Laws of Malta) and the Data Protection Act 1998 to comply with data protection requirements in the way in which we use any personal information collected from you in your use of the Website. We, therefore, take very seriously our obligations in relation to the way in which we use your personal information.

This is something we haven’t / won't / and do not plan to breach.

I also want to express that we cannot be responsible for what third parties are sending, as it is not directly in connection with our company.
However, we will, of course, do our utmost to make sure no wrong information or spamming is occurring in our name. In this specific case I could not find any affiliate relating to what you mentioned, nor any account of yours with the email you provided, did you provide the wrong email?

If you would provide more information such as the email that was sent to you, then I can look into it some more. Please forward further information in a message to me.

Best regards,
Alex

I think you might have misread my message

I use a catch all email address, meaning I can use any email address I like. I do this to work out where spam is originating from. So for example, if I create an amazon account the email address I use would be amazon@mydomian.com , if I create a netflix account, I would use netflix@mydomain.com , if I create a casinomeister account, the address I would use would be casinomeister@mydomain.com.

If I suddenly start getting spam emails sent to 'amazon@mydomain.com' then I know the company who has sold/gave/leaked my email address is amazon, as they are the ONLY people I have EVER used the email address amazon@mydomain.com with. It cannot have came from anywhere, it has never been published for scrapers to pick up, it can ONLY have been sourced from amazon.

When I signed up to cashmio, the registration email address I used was cashmio@mydomain.com.
No one else have EVER been given that exact email address, only cashmio.

I got a spam email to cashmio@mydomain.com

The ONLY way spammers could have possibly got that email address, is if it came from cashmio, either by you giving it to them, a rogue employee selling customers lists (as we know happens from time to time) or someone hacking you to get the data. It is 100% impossible for it not to have came from you, as it is in no other database except yours.

Add to that the fact the spam was advertising a casino.

From: Dina - AdsBigMedia [mailto:business@adsbigmedia.com]
Sent: 07 February 2018 18:22
To: cashmio@xxxxx.co.uk
Subject: 150%+30FreeSpins-SuperPlay