Jackpot Capital "new" payment policy to US players

Stovetopp

Senior Member
MM
Joined
Jul 11, 2008
Location
On the Beach
I play almost exclusively at JC and "was "very pleased with them in all aspects.

My withdrawals were timely whether by checks or wire.
Unfortunately, I have not had a withdwawal in about 4 weeks until recently for a small amount.
I went to deposit and the bank informed me that it was in Canadian funds and the deposit amount was about 4% less than the US dollar.

I called JC, and was informed to lodge the check and it would take 2-3 weeks to clear. I questioned the payment in Canadian dollars since i play in US Dollars. I was told it was a new policy instituted some months ago

What is annoying is that when playing they dont convert to Canadian dollars to give us the advantage so in addition to the "less money you are playing with, the fees for the withdrawal and the payment in CD dollars and most annoying the time frame tom wait for the deposit to clear.

If in fact the above is true its my last day on online gambling. I am waiting to hear from Yasmeen
before I totally close all the JC accounts( slotastic , grand vegas) and make my final withdrawal.

Any comments?
 

Nate

Paleo Meister (means really, really old)
webmeister
CAG
PABinit
Joined
Feb 14, 2007
Location
Cyberspace
I used to like this group... with all the hassles, it seems to me Jackpot Capital have nothing but their pockets in mind. Pending periods, ludicrous payout times, HUGE charges for wires and insane WR for bonuses...

Sloto and ClubWorld are better options. Both pay quickly and have much better bonuses and WR's...

Nate
 

mn001

Dormant Account
Joined
Sep 21, 2005
Location
Casino
I dont understand why they don't flush withdrawals. And also when logged in now their bonus for me is 10% of my deposit. That is the worst promo I've ever seen at any MG casino I think.
 

Nate

Paleo Meister (means really, really old)
webmeister
CAG
PABinit
Joined
Feb 14, 2007
Location
Cyberspace
I dont understand why they don't flush withdrawals. And also when logged in now their bonus for me is 10% of my deposit. That is the worst promo I've ever seen at any MG casino I think.

I think you may be referring to the AllJackpots group... MG - This one is RTG:p

Nate
 

bb28

Dormant Account
Joined
Nov 18, 2006
Location
US
After my experience with winning on a freebie, it's clear that this group does not really care about their customers. It would have been my first withdrawal, over 1.5 k in deposits and that couldn't work with me on the small amt I won. $250.00. :(

Online chat, can only give you canned responses, they are unable to assist outside of the rules. The rep here responded to my 1st question but gave me incorrect information and it was clear that she didn't read the details I had written and then to add further insult, my reply with more questions was never answered, now 2 weeks later. To add further insult, she got my name wrong in her only reply, this after I signed my pm with my given name.

Their 48 hold time is certainly not designed in the players favor. They have probably the highest bonus terms (30x and 60x) of any accredited rtg.

Just my 2 cents but players can do a lot better and they should.
 

Stovetopp

Senior Member
MM
Joined
Jul 11, 2008
Location
On the Beach
Geesh Guys all I wanted to know if its true that they pay US Players in CANADAIN dOLLARS
WITHOUT CONVERTING So after the bank converts its less than you withdrew. The least they could do is subtract the fees in Canadian dollars

In other words if you withdraw $400 US , you get a check for $400 CD. and the bank gives you
about 388 us
 

Nifty29

Dormant account
Joined
Jun 20, 2001
Location
Turn right, then right. then right again
Geesh Guys all I wanted to know if its true that they pay US Players in CANADAIN dOLLARS
WITHOUT CONVERTING So after the bank converts its less than you withdrew. The least they could do is subtract the fees in Canadian dollars

In other words if you withdraw $400 US , you get a check for $400 CD. and the bank gives you
about 388 us

Well if what you say is true, it is ROGUE pure and simple.

It would mean that they are taking full value for each bet and paying you out 4% less in winnings. I've never heard of this happening, save for when funds are fully converted BEFORE issuing the withfrawal e.g. you win $USD100 and they send you $CAD104.

Six months ago I would have said 'No way - not JPC'.....but nowadays I believe it immediately.

Bryan should be informed if this is found to be accurate.
 

Stovetopp

Senior Member
MM
Joined
Jul 11, 2008
Location
On the Beach
Well if what you say is true, it is ROGUE pure and simple.

It would mean that they are taking full value for each bet and paying you out 4% less in winnings. I've never heard of this happening, save for when funds are fully converted BEFORE issuing the withfrawal e.g. you win $USD100 and they send you $CAD104.

Six months ago I would have said 'No way - not JPC'.....but nowadays I believe it immediately.

Bryan should be informed if this is found to be accurate.

Well, I have the check stub , and the deposit slip showing the dollar ant deposited in US. AND THEY ARE DIFFERENT. Only thing is I dont have a recording of the person who told me that is the way it is now and has been like this for a few months. I will wait for Yasmeen to contact me to verify and if so I will pull the plug.

I dont know if its roguish if its stated on the web as the lady told me but i wont look cause if its there I wont care cause I wont play there again .
We are all [playing against the casino edge , now adding other BS
GOODBYE ONLINE
 

silcnlayc

Just one more spin pleez!
PABaccred
PABnonaccred
Joined
Sep 20, 2005
Location
Left Hungary
Well, I have the check stub , and the deposit slip showing the dollar ant deposited in US. AND THEY ARE DIFFERENT. Only thing is I dont have a recording of the person who told me that is the way it is now and has been like this for a few months. I will wait for Yasmeen to contact me to verify and if so I will pull the plug.

I dont know if its roguish if its stated on the web as the lady told me but i wont look cause if its there I wont care cause I wont play there again .
We are all [playing against the casino edge , now adding other BS
GOODBYE ONLINE

You might want to take care on the check from Canadian Bank. I received one and tried to direct deposit it and it was found invalid at two banks on Wednesday the 25th of this month. Neither of my banks would accept it. It seems that the accounts it is drawn on are not valid accounts as per both banks. I had to return mine to the casino for payment in another form. And yes, it will take 14 days to 21 days for it to clear if it was a good checking account from a Canadian bank, I was told also.


.
 

Westland Bowl

Tin Foil Hat Club Member
PABnonaccred
CAG
Joined
Nov 1, 2005
Location
America
As the US Dollar goes up in value relative to the Canadian Dollar, the more Jackpot Capital makes out on the exchange rate if they are just paying nominally the same amount in Canadian Dollars as the US Dollar amount. For instance, a $1,000 US withdrawal is about $1,033 Canadian Dollars right now. If they only paid you $1,000 Canadian Dollars then they made out $33. The US Dollar is in an uptrend against the Canadian Dollar so the gap would only get larger as long as the uptrend continues. What they need to do is to pay you the EQUIVALENT exchange-rate amount in Canadian Dollars that would equal your US Dollar-denominated withdrawal request. It's only fair.
 

LHofsdal

Ueber Meister
MM
Joined
Jan 9, 2010
Location
NY
DERAIL

Not sure if this is the right place to post this...

But, Damn!!! This is just ridiculous!!! What I don't get, is why can't all RTG casinos follow the same guide lines? If Inetbet can process withdrawals in 24 hours and on weekends, why can't everyone else? If ClubWorld, can pay people using 3 different methods, why can't everyone else? If you are playing in USD, you should be paid in USD drawn on an US bank. If these places accept America players, they should be prepared to pay them in their own currency.

It seems like just about everyday there is another new thread started about some bullshit, lame ass excuse about withdrawals and new terms and conditions added. Then they come back with these bullshit terms that were "put into place" a few months ago but never feel the need to inform their American players about them. Why the hell should they, if it is going to cost them 4%.

Then lets not forget the waiting times on some casinos website are not correct. It says 24-48 hours pending, hell that was well over a year ago, things have changed then and some places have not updated their web site. Then when it is brought out on the forums you get the same sorry lame ass excuse "Sorry, I will look into that and see what happened". I don't give a shit what happened, process the withdrawal in the time frame that is stated by your website. Even if that means someone has to stay 5 minutes late to do so. Just yesterday I got a promotion and at the bottom of the email it said deposit methods.... EWALLETXPRESS. What the hell is up with that? I thought is was some moron affiliate, but it wasn't it was from the casinos "Promotions Department".

This bullshit of cutting checks on Canadian banks is just that Bullshit. If they are going to pull this crap, then they should be sending the funds in a money order or Money Gram or Western Union. Other places do it and there is no reason why this place can't. If they are knowingly doing this, then this casino should be giving you back the 4% in your account. It is that simple.

LH
end of derail
 

Diane

Ueber Meister
Joined
Dec 20, 2009
Location
WI
I played at Lucky Club and took a w/d by check. It too arrived in Canadian funds so my bank had to send it for conversion which meant funds were not available. They warned me it would take 2-3 weeks to convert.

It only took one week, so that wasn't bad.

But my check was for the FULL amount. I requested $$ for w/d and got exact same amount deposited after the conversion was done and check cleared. No loss of funds.

Lucky Club and JPC share the same cashier system a FAIK. So this is puzzling to me.

My w/d was recent, requested 7/8, approved 7/11 and check arrived 7/12. FAST, until I found out about the conversion needing to occur. So it was one week longer. But still acceptable.

FWIW,
Diane
 

Stovetopp

Senior Member
MM
Joined
Jul 11, 2008
Location
On the Beach
I played at Lucky Club and took a w/d by check. It too arrived in Canadian funds so my bank had to send it for conversion which meant funds were not available. They warned me it would take 2-3 weeks to convert.

It only took one week, so that wasn't bad.

But my check was for the FULL amount. I requested $$ for w/d and got exact same amount deposited after the conversion was done and check cleared. No loss of funds.

Lucky Club and JPC share the same cashier system a FAIK. So this is puzzling to me.

My w/d was recent, requested 7/8, approved 7/11 and check arrived 7/12. FAST, until I found out about the conversion needing to occur. So it was one week longer. But still acceptable.

FWIW,
Diane

Diane, thanks for the info......can you elaborate for me on "got exact same amount deposited after the conversion was done etc etc "
Was the check for the amount you requested in CD dollars? Who converted what? and when? At time of deposit and after check cleared you were reimbursed for the difference?
Quite frankly, I dont mind the waiting time but I can't see the loss of funds on the conversion. The casino has at least a 5% advantage already built in
Thanks
 

vinylweatherman

You type well loads
Joined
Oct 14, 2004
Location
United Kingdom
Would it not be easier for the casinos to just switch to the Canadian dollar as some RTG casino groups configure theirs for Euros or UK pounds. Keeping the US Dollar out of things altogether makes things safer. Players could still be allowed to deposit in US Dollars, perhaps into a separate website purse as often used in combined casino and sportsbook operations, and transfer into the casino where it will be converted to Canadian Dollars. Withdrawals would not go back to this purse, but straight out from the casino in Canadian dollars. Any over (or under) due to exchange rates will remain in this purse, and the whole thing will be transparent to players who can see clearly that they are not getting ripped off by this new procedure.

Casinos probably think this will work because of the closer ties between the US and Canada, which will hopefully mean banks are less likely to look too deeply into such transactions as they might those coming from places like Europe.
 

Diane

Ueber Meister
Joined
Dec 20, 2009
Location
WI
Diane, thanks for the info......can you elaborate for me on "got exact same amount deposited after the conversion was done etc etc "
Was the check for the amount you requested in CD dollars? Who converted what? and when? At time of deposit and after check cleared you were reimbursed for the difference?
Quite frankly, I dont mind the waiting time but I can't see the loss of funds on the conversion. The casino has at least a 5% advantage already built in
Thanks

I requested a $3k check in the cashier section of the site in US dollars. I received a $3k check from a Canadian bank but it was for $3k in Canadian funds. When I went to my bank, they said they had to send it for conversion. I don't know "where" the bank sent the check.

Bank took the check and bank said they would notify me when it "cleared" and when the funds would be available. After one week, I was notified by my bank that the check had been converted and funds were now in my account. $3k was what got deposited into my account. So I had no loss of funds, only the $30 processing fee that was charged.

Diane
 

Nifty29

Dormant account
Joined
Jun 20, 2001
Location
Turn right, then right. then right again
I requested a $3k check in the cashier section of the site in US dollars. I received a $3k check from a Canadian bank but it was for $3k in Canadian funds. When I went to my bank, they said they had to send it for conversion. I don't know "where" the bank sent the check.

Bank took the check and bank said they would notify me when it "cleared" and when the funds would be available. After one week, I was notified by my bank that the check had been converted and funds were now in my account. $3k was what got deposited into my account. So I had no loss of funds, only the $30 processing fee that was charged.

Diane

Something is amiss here.

If you get a $3k cheque in Canadian currency, drawn on a Canadian bank (well the bank shouldn't matter actually), you can't deposit it into your English pound sterling bank account and end up with $STG3000. It's just not how banking works.

If its not too much legwork Diane, it might be worth asking your bank why your $CAD wasn't converted to $USD at the proper exchange rate. Maybe there was something on the cheque that makes it different to normal cheques?

Either way, payments should be sent in the account currency at the casino.
 

MaryJean

Dormant account
Joined
Jan 30, 2011
Location
Northern California
My bank charged fee later

When I recently deposited two Canadian checks, one from Slotastic and one from JackpotCapital, my bank deposited the checks in the full amount and then made an additional charge of $1.30 each for the banking of a foreign check.

Of course there was the usual $30.00 transfer fee from the casino.

MaryJean


Something is amiss here.

If you get a $3k cheque in Canadian currency, drawn on a Canadian bank (well the bank shouldn't matter actually), you can't deposit it into your English pound sterling bank account and end up with $STG3000. It's just not how banking works.

If its not too much legwork Diane, it might be worth asking your bank why your $CAD wasn't converted to $USD at the proper exchange rate. Maybe there was something on the cheque that makes it different to normal cheques?

Either way, payments should be sent in the account currency at the casino.
 

Nifty29

Dormant account
Joined
Jun 20, 2001
Location
Turn right, then right. then right again
When I recently deposited two Canadian checks, one from Slotastic and one from JackpotCapital, my bank deposited the checks in the full amount and then made an additional charge of $1.30 each for the banking of a foreign check.

Of course there was the usual $30.00 transfer fee from the casino.

MaryJean

The cheques may have been Canadian, but were they in Canadian dollars? It's possible to have a Canadian cheque drawn in US Dollars....or any other currency for that matter.

Someone needs to post a scan of one of these cheques so we can see the currency. No way will a bank take a cheque in CAD and credit you the same amount in USD.....they would be losing 4% of the value of every cheque. The currency must be converted to its equivalent in USD.

I wonder whether stovetopp may have received an erroneous cheque I.e. it was printed as CAD instead of USD. It may have been a mistake by the processor...??

All I know is that currency is ALWAYS converted at the bank rate and NEVER 1:1 (unless the currencies involved are equal which is unlikely).
 

Pocketdiggers77

Gamester
Joined
May 9, 2006
Location
On Top of Old Smokey
I haven't received a Canadian check in a while but the few I did receive were from Canadian banks in US$. MY bank held them for two weeks until they cleared and that was it. It wasn't a huge PITA but an inconvenience none the less.
 

MaryJean

Dormant account
Joined
Jan 30, 2011
Location
Northern California
Checks were in US Dollars

Nifty, I checked the images at the bank and the checks were in US Dollars.

They charged my only $1.50 per item.

Also---there was no waiting time for clearance.

MaryJean

The cheques may have been Canadian, but were they in Canadian dollars? It's possible to have a Canadian cheque drawn in US Dollars....or any other currency for that matter.

Someone needs to post a scan of one of these cheques so we can see the currency. No way will a bank take a cheque in CAD and credit you the same amount in USD.....they would be losing 4% of the value of every cheque. The currency must be converted to its equivalent in USD.

I wonder whether stovetopp may have received an erroneous cheque I.e. it was printed as CAD instead of USD. It may have been a mistake by the processor...??

All I know is that currency is ALWAYS converted at the bank rate and NEVER 1:1 (unless the currencies involved are equal which is unlikely).
 
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