My Enhanced Due Diligence situation thus far.
My Enhanced Due Diligence video of what is happening so far in the process. I'm struggling 6 weeks in and wanted to document the process.
Chris J last edited by
Must be really frustrating for you - I skipped a few parts of your video but it seems that you have withdrawn a lot more than you have deposited, nevertheless, you shouldn't be having these kinds of issues if you have made so much profit over a long period of time.
I've always had a consistent income during my time and never made a deposited more than my income for any given month so i'm hopeful that I won't have issues with EDD, this BeBettor partnership concerns me though.
@Chris-J I think over the 17 months I have been on the platform I have withdrawn 3k more than I have deposited but yes its very frustrating. I am hearing of lots of situations very similar to mine sadly.
Shippers last edited by
@Tom7471 hopefully this gets sorted for you mate, it seems like you got the FI buzz back too so hopefully you mange to get it over the line. It sounds like its been quite painful so far. I personally think you should of been dealing with the one person only, not sure why they would do it any other way. It must be very time consuming if someone has to pick it all up from scratch each time.
Karl last edited by
Thank you for sharing your experience Tom and I am sure there will be a solution for you in the near future. I look forward to the update on this issue as you are not the first and I am sure not the last to have this stressful process to go through.
Perhaps moving forward you should treat your trading as a business and have everything documented so as you don't have this issue moving forward. I don't think being a professional gambler is an issue for FI but more so that your paperwork is not straight forward.
I am sure FI is being watched like a hawk at the moment as they are going to increasingly take market share from the scumbag bookies and these bookies have power, so I am sure FI has to ensure everything is done correctly so as they are not shut down or have a forced take over placed on them.
I look forward to your further videos as you articulate your points very well. Best of Luck and as a football fan I am 100% behind you.
@Karl Thanks bud
Londoner last edited by
The best of luck. FI are under pressure too, and have their list of approved documentation that you must have in order not to fall into their more risky customer list. A professional gambler who was a FI trader for 2 years was unable to pass their criteria when the EDD came in. Some self-employed have fallen into the "risky" category too.
Mintyfresh last edited by
@Tom7471 good video and hope you get your EDD sorted soon.
Can see why it's tricky for you as FI need you to be able to show where your money has come from (money laundering/proceeds of crime legislation) but it sounds like most of your income is undocumented (just coming from savings won't satisfy them I wouldn't have thought, as they will want to know where the savings came from). A P60 or a tax return gives this info easily, but I can see why it is problematic if you don't have either.
I'm sure you've given them anything obvious already, but if you have evidence of any inheritance received, profit on previous house moves, P60's from when you did work, etc. just to show what enabled you to start with your pro gambling career choice, then that might help. I can see why they can't accept spreadsheets you've produced, as cash bets at the bookies is one of the easiest and quickest ways to convert dodgy money into something"clean" (I think it goes without saying that I am not implying that's what you are doing!)
Sadly otherwise, I don't think I've got anything helpful to add.
@Mintyfresh yeah it's a shame as I am pretty meticulous with all my records but they can't accept any of them as they could have been fabricated. They also can't accept screenshots of emails and the like which again I understand but it makes the whole thing very tiresome and difficult.
I still feel confident I should pass but I'm gutted that I can't take advantage of the great offers of ipds at the moment just incase I don't pass.
Mintyfresh last edited by
@Tom7471 yep, fingers crossed for you. Shame they can't allocate one person to each EDD they open. They can't do anything about some of the hoops they have to jump through as a company, but they could help get you through it by having clear, timely lines of communication with the same person who will therefore have a better understanding of your circumstances.
MickTurbo last edited by
The curious thing for me, aside from the gambling, is that the savings dont seem to hold much weight. You would think some of the real big accounts that we see on twitter would be ppl of leisure. I mean if you can have 100k in a single player, your perhaps one of those outrageously fortunate ppl who doesnt even need to work for a living. Are these ppl in the same boat?
Jonesy FI WH last edited by
@MickTurbo The whales seem exempt from these checks. I can't possibly think why!
It's us mere mortals who suffer.
@MickTurbo thats what I was thinking. I have quite a lot of savings but sadly it doesn't mean anything. Where I could have a job earning £600 a month and I would be fine.