Joined: Mar '14
Location: Japan
Age: 49 (M)
Posts: 8946
partypoker reduced the minimum amount required for their players to withdraw via "Bank Wire Transfer" from US$50,000 to US$1,000. The minimum and maximum amount that can be withdrawn in one transaction using "Fast Bank Transfer" are unchanged.
Bank Wire Transfer - Minimum: US$1,000.00 - Maximum: US$2,000,000.00 - Default Currency: USD - Fee: None
Fast Bank Transfer - Minimum: US$10.00 - Maximum: US$70,000.00 - Default Currency: EUR - Fee: None
The minimum withdrawal amount of US$50,000 was simply preposterous, and I am glad that I will finally be able to transfer funds directly to my local bank account relatively cheaply.
------------ *The minimum and maximum amount that can be withdrawn in one transaction using "Fast Bank Transfer" is unchanged. *The minimum and maximum amounts that can be withdrawn in one transaction using "Fast Bank Transfer" are unchanged.
------------ I guess both sentences are readable while the original one is flawed.
Edited by Tony_MON7ANA (07 April 2018 @ 15:18 GMT)
Joined: Oct '16
Location: Argentina
Age: 69 (M)
Posts: 2579
Good news for you Tony_MON7ANA! I´m happy that you can make freedom treats with your money! In my country it is imposible... Threee years ago, a populist goverment (that I liked) maked a "playpen" to the dollars and was very dificult make some move with it. But now, with a neo-liberal goverment (that I don´t like) the dificults for the working class continued and only the rich people can get the freedom exchange
Joined: May '08
Location: Germany
Age: 58 (M)
Posts: 6783
A minimum of $50,000 to withdraw An option for super high rollers only. Actually $1,000 is quite a high limit still, at least in my opinion. But there are other option with far lower limits.
Joined: Dec '11
Location: Uruguay
Age: 36 (M)
Posts: 1025
$ 50000 !!! The most I could withdraw was $ 500 I think if they had not let me remove them I would never have reached the $ 1000, which I already think a lot. At least for me, I am a more recreational player. It is clearly aimed at the high rollers. I'm happy for you, if this change helps.
Joined: May '09
Location: Croatia
Age: 38 (M)
Posts: 18887
I must admit that I dont understand this post Tony_MON7ANA!why?you had always this two option for bank transfer,but ofcourse you always choose this fast bank transer,because they always had this low cashout minimum!so every time when I transfered money from party casino,I had my money in one day and didnt have any fee,so dont understand why you didnt used this option and what kind of fees did you or do you have!
Posted by shokaku: A minimum of $50,000 to withdraw An option for super high rollers only.
More likely than not they were the ones who used this option already for deposits which makes sense when you think about how many debit/credit cards allow >10k buys in the first place.
Joined: Mar '14
Location: Japan
Age: 49 (M)
Posts: 8946
Posted by dule-vu: I must admit that I dont understand this post Tony_MON7ANA!why?you had always this two option for bank transfer,but ofcourse you always choose this fast bank transer,because they always had this low cashout minimum!so every time when I transfered money from party casino,I had my money in one day and didnt have any fee,so dont understand why you didnt used this option and what kind of fees did you or do you have!
That's because my partypoker default currency is set to USD. I loath to expend unnecessary fees (currency conversion fee (associated with "Fast Bank Transfer," eWallets), withdrawal fee (with eWallets), etc.). I guess "Bank Wire Transfer" will be more economical option for moving funds (US$1,000+) to my US dollar bank account.
Edited by Tony_MON7ANA (09 April 2018 @ 16:21 GMT)
Posted by Tony_MON7ANA: My bank is located in Japan, so I guess the IRS has no jurisdiction.
Oh, okay my bad. I was thinking US bank account instead US dollar bank account. Sorry pal. Still, japanese tax laws are easy on gambling related income?
Joined: Nov '11
Location: Poland
Age: 37 (M)
Posts: 1081
The gambling laws in recent times are going more and more harsh in every country. In our country, it's forbidden to play in foreign sites (poker, sport betting, etc) which has no licence to pay taxes in Poland. I remember that the US players can't play poker, I don't trace if anything was change there. Unfortunately, governments are pain in the arse like Tony said.
Joined: May '09
Location: Croatia
Age: 38 (M)
Posts: 18887
well if you pay for such a high stakes and you have more then 1000 $ to transfer via this bank transfer!but that will mean that you win a lot on poker tables or you just need to wait for a long time to collect this amount and to have rest fro playing again!but good luck with cashout!
Joined: Mar '14
Location: Japan
Age: 49 (M)
Posts: 8946
It is becoming increasingly hard for online gaming players residing in Japan to facilitate the transfer of funds from online gaming operators to the banks in Japan due to numerous unforeseeable governmental restrictions.
Joined: Jan '17
Location: Lithuania
Age: 65 (M)
Posts: 1756
Haha a minimum withdraw amount of 50,000 yes this is just amazing, I don't think i in my life see such money in my account. Also 1000 you are happy now is too big for me. I withdraw most 50 dollars so not big money player i am
Joined: Apr '11
Location: Romania
Age: 58 (M)
Posts: 2432
from IRS:Your gambling winnings are generally subject to a flat 25% tax. However, for the following sources listed below, gambling winnings over $5,000 are subject to income tax withholding: Any sweepstakes, wagering pool (including payments made to winnners of poker tournaments), or lottery. Any other wager (if the proceeds are at least 300 times the amount of the bet). If you win a non-cash prize, such as a car or a trip, you will be responsible for paying taxes on the fair market value of each prize.
Joined: Mar '14
Location: Japan
Age: 49 (M)
Posts: 8946
Yeah, gambling winnings are taxable in the United States and Japan. As far as I know, gambling winnings are considered miscellaneous taxable income in both countries if the amount of net gambling income exceeds USD5,000 or JPY500,000.
Edited by Tony_MON7ANA (21 April 2018 @ 15:04 GMT)
