Do banks have access to our gambling transactions and does this affect their decision to lend money?

[Rgsoton]

Hi.

Random question but one I’m sure that’s pertinent to some…I was refused a credit card recently and it got me thinking…also am due to remortgage soon and have recently transacted with lots of different gambling sites. Is there a link? Do transactions / interactions with gambling sites influence banks decisions regarding who to lend money to?

Any help appreciated

Thanks.

 

[L&L-Jan]

they do

 

[Rgsoton]

Thanks. Is there anyway to prevent this? And how come they have access anyway??!!

Thanks for your time

 

[L&L-Jan]

Its not access perse, it is the merchant (the casino) that holds a category (entertainment) and as a result they know the transaction is related to gambling. As a result, that will be taken in consideration for a loan/morgage.

To avoid it, get an internet bank, transfer funds for gambling to that account and use that account for gambling. Doesnt mean it will prevent anything, if they ask for a statement on that account. But its the least you can do.

 

[Rgsoton]

Awesome. Thanks.

 

[Avernite]

Depends on the country your in and their regulations. I had no issues getting a credit card and loans when I was dropping most of my pay into casinos at one stage of my life. They changed the rules since then and now you just need to have clean account history for 6 months.

Utilising paysafe cards and e-wallets can help get around this, but they may question where that money is going/coming from.

 

[Rgsoton]

I’m guessing that having money in the gambling accounts isn’t the issue but the transactions?

I’ll ease off any deposits / withdrawals then 6 months prior

Thanks again.

 

[gonzo fonso]

banks just see gambling as a waste of money,they think we should just save save save

 

[Rgsoton]

One more thing…I had a very odd response from “Vegas Is here” the other day and wondered if others thought it odd too…I emailed them to say that they were not allowed to withhold my deposit (I hadn’t wagered) and if they didn’t let me have it back (without making the amount up to £100) I would raise a complaint. They replied telling me to stop depositing into casinos and that my name was on a global casino blacklist. Weird.

 

[Reelsoffun]

I’m guessing that having money in the gambling accounts isn’t the issue but the transactions?

I’ll ease off any deposits / withdrawals then 6 months prior

Thanks again.

If you’re looking to get a new, or remortgage you are best off not applying for other new credit in the 6 months before as that can harm your score and chances as well.

As others have said already casino transactions can be seen by your bank and more importantly they are now also leaving soft searches on your credit file, while this in itself shouldn’t be a problem, it’s something to be aware of.

 

[dunover]

Gamblers are a far higher lending risk than non-gamblers. END OF.

 

[Reelsoffun]

I agree to a point but it does depend on the individual, I’m a gambler but have never defaulted on any loan payment or bill ever.

And if companies never lent to gamblers then no one would be able to get credit, as technically any kind of insurance is gambling, with the exception of forced insurances eg car

Insurance is one party gambling that the other won’t need to make a claim and the other is gambling that they will get a payout if they need to, sounds like a gambling to me

 

[johnnymcc1966]

I agree to a point but it does depend on the individual, I’m a gambler but have never defaulted on any loan payment or bill ever.

And if companies never lent to gamblers then no one would be able to get credit, as technically any kind of insurance is gambling, with the exception of forced insurances eg car

Insurance is one party gambling that the other won’t need to make a claim and the other is gambling that they will get a payout if they need to, sounds like a gambling to me

But rich people gambling with poor people's money is fine. If it's the other wat around,forget it!

 

[Rgsoton]

If you’re looking to get a new, or remortgage you are best off not applying for other new credit in the 6 months before as that can harm your score and chances as well.

As others have said already casino transactions can be seen by your bank and more importantly they are now also leaving soft searches on your credit file, while this in itself shouldn’t be a problem, it’s something to be aware of.

Thanks. I’m guessing a good reason to minimise withdrawals then?

 

[Reelsoffun]

TBH, not sure, as once you are a customer they seem to periodically soft check whether you have played recently or not. I have had several casinos check my credit report for affordability and AML and from one that I have not played at in well over a year?

 

[Minxxx]

One more thing…I had a very odd response from “Vegas Is here” the other day and wondered if others thought it odd too…I emailed them to say that they were not allowed to withhold my deposit (I hadn’t wagered) and if they didn’t let me have it back (without making the amount up to £100) I would raise a complaint. They replied telling me to stop depositing into casinos and that my name was on a global casino blacklist. Weird.

Global Casino Blacklist wtf ? Didn't realize such thing existed. !

 

[Jasminebed]

Vegas is Here looks like a pretty shady joint. No licensing, not even Curacao. No mention of company name. None of the slots were one I recognized.

 

[Rgsoton]

Vegas is Here looks like a pretty shady joint. No licensing, not even Curacao. No mention of company name. None of the slots were one I recognized.

It was odd a)given that it didn’t answer my question and b)surely there isn’t such a thing!

 

[dunover]

One more thing…I had a very odd response from “Vegas Is here” the other day and wondered if others thought it odd too…I emailed them to say that they were not allowed to withhold my deposit (I hadn’t wagered) and if they didn’t let me have it back (without making the amount up to £100) I would raise a complaint. They replied telling me to stop depositing into casinos and that my name was on a global casino blacklist. Weird.

Alas they are an unlicensed clip joint and the 'blacklist' BS is an old trick from rogue RTG casinos, I see it's still going on then!

The games are RTG and don't have a UK license, the casino has no license and your money will be gone for good.

@Jasminebed is correct.

 

[Rgsoton]

Alas they are an unlicensed clip joint and the 'blacklist' BS is an old trick from rogue RTG casinos, I see it's still going on then!

The games are RTG and don't have a UK license, the casino has no license and your money will be gone for good.

@Jasminebed is correct.

Yeh thanks. For sure I won’t be depositing any more to get the money out.

 

[jasonuk]

TBH, not sure, as once you are a customer they seem to periodically soft check whether you have played recently or not. I have had several casinos check my credit report for affordability and AML and from one that I have not played at in well over a year?

Soft checks are the new UKGC ideal for "low friction" customer checks - since they won't be visible to third parties then that shouldn't affect any decisions. I've similarly seen checks from sites I haven't played on in more than a year, so clearly some of them are already exploiting this process to gain information on their customer base.

It'll be the deposits themselves that get flagged up.

 

[Rgsoton]

Soft checks are the new UKGC ideal for "low friction" customer checks - since they won't be visible to third parties then that shouldn't affect any decisions. I've similarly seen checks from sites I haven't played on in more than a year, so clearly some of them are already exploiting this process to gain information on their customer base.

It'll be the deposits themselves that get flagged up.

Thanks

 

[Rgsoton]

Soft checks are the new UKGC ideal for "low friction" customer checks - since they won't be visible to third parties then that shouldn't affect any decisions. I've similarly seen checks from sites I haven't played on in more than a year, so clearly some of them are already exploiting this process to gain information on their customer base.

It'll be the deposits themselves that get flagged up.

So being new to gambling I’m guessing many who gamble have mortgages…so generally people who gamble when it comes to borrow/remortgage:
1)some time before it’s due (6 months?) limit deposits and/or
2)use a separate account for gambling hoping the banks don’t ask for info on this one
3)not apply for a credit card six months before remortgage due

Have I covered all that can be done?

Thanks

 

[Guntis]

Use a separate account for gambling but not a bank account. Just use e-wallets like PayPal and your bank statement will be free from casino names. Your bank will only see transactions labeled "PayPal," not the actual destination of your payments.

But as already mentioned, some lenders may raise questions if they see many transfers to and from somewhere.

Here is a bit of

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. It's not very detailed, but it's worth a quick read.