What are Net Deposits?
Due to regulations, Betfair operate what's called a 'Closed Loop Policy' when it comes to withdrawing funds. This means that if you have deposited into your Betfair account using one payment method, you will have to withdraw back onto that same payment method.
You'll notice that every time you make either a deposit or a withdrawal, the 'Net Deposits' figure on your card details page relating to that payment method, will change. Your 'Net Deposits' are the difference between the 'Total Deposits' and the 'Total Withdrawals' that you have made from each payment method, such as a debit card.
Total Deposits - Total Withdrawals = Net Deposits
If you have deposited more than you have withdrawn to a payment source, you will have Positive Net Deposits.
If you have deposited less that you have withdrawn to a payment method, you will have Negative Net Deposits.
If you have used more than one payment method, for example, a debit card and a PayPal account, you will need to balance any Positive Net Deposits on both methods, before you can withdraw more than you have deposited on either method.
You have deposited €70 from your Visa Card and €50 from your PayPal Account into your Betfair account. Therefore, your Net Deposits from your Visa Card are €70, and your Net Deposits from your PayPal Account are €50.
After some betting success, the 'Available to Withdraw' balance on your account is €500, and you want to withdraw €150. You would prefer to withdraw this €150 to your PayPal Account, but before you can do this, you will need to 'Close the Loop' and balance the Positive Net Deposits on your Visa Card. Therefore, you need to withdraw €70 back onto your Visa Card, making the Net Deposits on that payment method €0, before you can withdraw the rest onto your PayPal Account.
If, using the above example, you would prefer to withdraw the €150 back onto your Visa Card, you would still need to withdraw €70 onto your Visa Card and the €50 back onto your PayPal before exceeding the Net Deposit.
Please note that your withdrawal value will appear under the description 'BETFAIR' on your bank statement.
Please be aware we are currently unable to display net deposit figures for e-wallets. If you would like to know what your e-wallet net deposit is, then please contact our Customer Service Team.