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CMA alarms against unfair hindrances that annoy customers while withdrawing money

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The UK’s Competition and Markets Authority (CMA) has notified  a number of online gambling operators over “unfair obstacles” that hinder customers from withdrawing money.

In a move backed-up by the UK Gambling Commission (UKGC), the CMA publicised the  enforcement action with regard to the terms and practices for withdrawing funds.

In view of this, the CMA affirmed  it has  specific concerns about several matters, including daily, weekly or monthly limits on withdrawing funds that seems to be unreasonably low.

The organisation also emphasized potentially arbitrary short deadlines on the time customers have to verify their identity as a condition of withdrawing funds, which can in some cases lead to the forfeiture of consumer’s funds if missed.

In addition, the CMA expressed concern at ‘dormancy’ terms that allow firms to confiscate funds after a certain period of inactivity.

With regard to this Ian Angus, the Programme Director at the UKGC, said: “We support the CMA’s investigation – gambling firms should not be placing unreasonable restrictions on when and how consumers can withdraw money from their online gambling accounts. While the CMA continues its enquiry, we expect all online operators to look closely at the terms and practices they have in place and consider if they are fair on their customers.”

Athira is a self-described “logophile” – a lover of words. She loves updating her vocabulary and playing around with words, to frame a sensible world of letters. Letters come alive when they become words and when words become sentences. And that’s her job, to put them together in a meaningful way without loosing its essence. She has written content for websites, articles and poems for an international magazine, and press releases as well. She also loves writing on social media. She holds a Masters degree in bio-technology, but she has always been interested in the organic farming of words. Besides writing content for our daily news feed, she is also working as staff writer/editor with Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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