Is anybody out there aware of the "administration" fee levied by
Pacific Poker on dormant accounts (unused for 6 months).
10% per
month till the account is emptied, which takes 10 months!!!!!
Friend of mine just had over $1000 removed from his account into the Pacific Poker coffers under the guise of an 'administration' fee.
This means, no matter how much is in your account, $10 or $100,000, it will be emptied in 10 months after 6 months of inactivity.
See Section 7, subsection iv of their terms and conditions.
7 iv
Should you fail to use your account for six months your account will be considered a "dormant account". The six-month period will run from the date of your last login to your account. In the case of a dormant account, the Company will levy a <u>monthly administration fee at a rate of 10% of the balance</u> in the account on the date that it became dormant. The administration fee shall be deducted from the dormant account commencing from the last day of the sixth month in which the account is inactive and occurring on the last day of every month thereafter, <u>until the balance of the account has reached zero</u> . In the event that you login to your account during the ten-month period during which the administration fee is levied, the Company will cease to levy the administration fee but shall not be obligated to return to you any monies deducted from the account at such time.
http://www.pacificpoker.com
Go to - Fair Play and Security - User Agreement
After a quick check of a few other sites:
Poker Stars and
Full Tilt seem to have no dormant account fee.
Party Poker have a $5 per month 'Inactive Account' fee - seems fair.