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Online Casinos in general: What is the legal situation?

Topic created on 11th Jan. 2025 | Page: 1 of 1 | Answers: 4 | Views: 736
Einstellungen
Visitor

What is the legal situation?

11th Jan. 2025, at 06:48 pm CET#1
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Officially, you only have to provide proof of origin for cash deposits over €10,000, as far as I know.
Of course, the same applies if you repeatedly Deposit €9,000.
But what about bank transfers?
A friend of mine says you don't have to because it's clear where the money comes from anyway.
But apparently they don't know exactly, as my bank recently asked me where the money comes from.
Because that foreign casino apparently uses an intermediary payment provider.
I was honest and just said "betting and stuff", which they were happy with.
But can they press for more information?

This post has been translated automatically

frapi07
Elite

What is the legal situation?

11th Jan. 2025, at 07:13 pm CET#2
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Einstellungen wrote on 11.01.2025 at 18:48: Officially, you only have to provide proof of origin for cash deposits over €10,000, as far as I know.
Of course, the same applies if you repeatedly Deposit €9,000.
But what about bank transfers?
A friend of mine says you don't have to because it's clear where the money comes from anyway.
But apparently they don't know exactly, as my bank recently asked me where the money comes from.
Because that foreign casino apparently uses an intermediary payment provider.
I was honest and just said "betting and stuff", which they were happy with.
But can they press for more information?

I'm not a bank employee, but this proof can only be provided for cash deposits.

Online transfers are not cash deposits, so I would just logically conclude that such proof is not required. I'm only familiar with proof for bank transfers when money is transferred from abroad.


However, if you want to make a transfer over the counter, then it is probably considered a cash deposit and this proof can be provided.

But maybe I'm wrong, so all information is of course without guarantee.

This post has been translated automatically

btssultan
Experienced

What is the legal situation?

12th Jan. 2025, at 01:09 am CET#3
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There is no direct limit for transfers, but this is usually set by the bank itself and can be viewed in online banking or requested from the bank.

Depending on the amount, the bank can still find out about the origin of your funds at any time. As long as it is plausible, there are usually no problems, but you should always expect this, especially with larger sums.

Particularly in the case of customers with, to put it mildly, irregular cash inflows or, let's call it disproportionate payment movements that do not fit the actual profile, this is more likely to lead to businessman XYZ paying € 30000-50000 to providers every week for business reasons.

This post has been translated automatically

WithoutWings
Expert

What is the legal situation?

12th Jan. 2025, at 03:59 pm CET#4
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A bank employee once told me when I asked him about limits and proof that if the bank knows something they will get in touch.

This post has been translated automatically

TennisFreak
Experienced

What is the legal situation?

12th Jan. 2025, at 08:08 pm CET#5
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I once received a higher transfer within the family and was asked why for money laundering reasons. After I gave the reason, everything was fine.

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