Insta Debit for Canadians - feedback please

[Bobo Fett]

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I read their FAQ and all those transfers between sites stay USD. The only exchange is when you pu the funds back into your account

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Correct, I've done it myself. This info is also in the eWallet thread.

[Kinja]

ya, exactly

[Bobo Fett]

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I read their FAQ and all those transfers between sites stay USD. The only exchange is when you pu the funds back into your account

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When you say account, you mean bank account right? That makes sense. Same as Neteller was.

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Yes. You deposit to your first site directly from your bank account, and you will of course pay some vig then. When you cashout, it sits in your Instadebit account in the same currency as the poker site, likely US $. This money can then be moved on and off sites, staying in US $ the whole time. It is only when you withdraw it back into your bank account that you will have to pay any exchange vig again.

[Bobo Fett]

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This thread would have been good in the Canadian e-wallet thread. I think I remember someone saying they didn't like the limits of Instadebit in that thread... and something else. Can't remember what.

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Yes, I forgot about that...crappy limits.

[Kinja]

I was told by their support that every 3 weeks their is an automatic review og the limits. If your account is in good stnadings (no charge backs etc) then it gets raised but there was no mention in how much etc...

[Bobo Fett]

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I was told by their support that every 3 weeks their is an automatic review og the limits. If your account is in good stnadings (no charge backs etc) then it gets raised but there was no mention in how much etc...

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I've had an account since early May. Made one small deposit to Absolute, and withdrew some of it back, then some back to my bank account. My limits appear to be the same. It would be nice if they were a little less vague about these increases.

[Kinja]

agreed... but as long as i can transfer my money back into my bank account without these limits. The limits 500$ per week are only for using the debit end to the sites no? Got a large sum at WPEX and I'm scared to request another cheque as they are posting there will be delays, scares me as I'm still waiting for 4 other cheques.

[Bobo Fett]

I hate having this conversation here, this would be great in the eWallets thread, but I don't want to stop mid-stream and resume it there. I'll hit the notify mod, and ask if it's possible to move this entire thread into the eWallets thread. I suspect it can't be done, but you never know. If not, I'll move the important stuff there myself.

Here's the chat I just had with InstaDebit:

Thank you for choosing INSTADEBIT, someone will be with you momentarily.
You have been connected to Corey J.
Corey J: Hello, how may I assist you today?
Customer: Hello, I was wondering what my 7-day limit of $500 means.
Corey J: This means that you can send up to 500 dollars with instatadebit per 7 day period.
Customer: Does money sent from my balance account count against this limit?
Corey J: Yes.
Customer: How about money withdrawn from a site back to my balance account?
Corey J: That is correct.
Customer: So both count? IE If I have a $500 limit, deposit $250 to a site, and then withdraw $250 back to my blaance account, I've used my whole limit?
Customer: That $250 having come from my balace account, I should add
Corey J: You can view all of your transaction limits and transactions on your account screen after you login to your INSTADEBIT account online at www.instadebit.com.
By looking at your transaction history and comparing it to your limits you will be able to determine when you will be able to complete another transaction.
Corey J: Time periods are not based on calendar weeks or months, but rather 7 and 30 day rolling time periods. To calculate your transaction limits for any moment in time, total all your successful transaction values going back 7 or 30 days from today and subtract that figure from your 7 or 30 day rolling limit.
Customer: That's fine, I understand that. I just want to be sure I correctly understand what counts against the limit. Again, if I deposit $250 to a site from my balance account, then withdraw $250 from the same site back to my balance account, is that $500 against my limit, or just $250?
Customer: I can't tell by looking, since I haven't had a transaction for over a month, so my limits are all back to full.
Corey J: That's 500.
Customer: OK
Customer: One other thing
Customer: Increasing limits
Corey J: Transaction limit increases are run by an automated system that reviews all INSTADEBIT customer account activity every three weeks. Limit increases occur if there has been no negative activity such as a return and/or the transaction history of the account. Please note that increases are not solely based on negative activity, but also transaction history. INSTADEBIT is unable to manually increase your transaction limit and you are not guaranteed to receive an increase every three weeks. You will receive an email if your transaction limits have been increased.
Customer: OK
Customer: I have had an account for 7 weeks, no chargebacks, but only 2 small transactions. I have seen no limit increases yet. Is this because of the limited activity?
Corey J: Yes, that's correct.
Customer: What is the potential for limits? In the thousands? Tens of thousands?
Customer: Just looking for even a vague idea.
Corey J: Tens of thousands is possible as long as your credit with us remains good.
Customer: And is a typical increase in the hundreds, or thousands?
Corey J: It would begin in the hundreds and move to the thousands. Typically.
Customer: Fantastic. Thanks for all your help.
Customer: Have a great night!

[Kinja]

Interesting, so how about withdrawing back to my bank account? Got confused...

[Bobo Fett]

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Interesting, so how about withdrawing back to my bank account? Got confused...

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Forgot to ask that, so here's my next chat session:


Thank you for choosing INSTADEBIT, someone will be with you momentarily.
You have been connected to Leah C.
Leah C: Hello, how may I assist you today?
Customer: Hello, I have a question about limits
Customer: I understand that the limits cover transactions from sites back to my balance account, but...
Customer: If I withdraw $250 from a site to my balance account, and them move it from my balance account to my bank account, does that count as $250 or $500 against my limit?
Leah C: You can view all of your transaction limits and transactions on your account screen after you login to your INSTADEBIT account online at www.instadebit.com.
Customer: Yes, I understand that...but that doesn't tell me what counts against the limit
Customer: Thus my question
Leah C: It would be $250
Customer: OK, thanks.
Customer: Have a great night!