Net Deposits & Closed Loop System

What Are Net Deposits?

Net Deposits are the difference between the Total Deposits and Total Withdrawals you've made on a particular payment method, such as a debit card or e-wallet.

If you have deposited more than you have withdrawn to a specific payment method, you will have positive Net Deposits.

If you have withdrawn more than you have deposited to a specific payment method, you will have negative Net Deposits.

When reviewing your withdrawal, the last 6 months of transaction history will be taken into consideration in line with our Net Deposit process. If your activity is over 6 months old, then your ability to withdraw to a different card shall not be affected.

Example:

Deposits are made totalling €250 and Withdrawals are made totalling €100. This means that the Net Deposit Total is €150. This is a positive Net Deposit amount.

Why is my preferred withdrawal method not showing as an option?

We operate a closed-loop withdrawal system to help protect against card theft and fraud. This means withdrawals must be made back to the same payment method used for deposits.
 

If you’ve deposited more than you’ve withdrawn, you’ll need to withdraw those funds back to that same payment method.

Why am I being requested to withdraw across multiple payment methods?

We operate a ‘Closed Loop System’ for withdrawals to safeguard from card theft and fraud.  This means that occasionally your withdrawal may be split across multiple payment methods when system security rules require funds to be returned to the payment method(s) used to deposit.

Example:

You've made €200 worth of deposits from your Visa card and €100 by PayPal wallet. You've had a successful week and your balance is €500. You would like to withdraw €400. Your preferred method of withdrawal is PayPal but before you can withdraw more than €100 back to PayPal, you need to withdraw €200 back to your Visa card. Once this is done you can withdraw €200 or more back to PayPal.

The benefit of this is that your withdrawal will typically be returned to the payment method(s) you use most, which can also speed up your withdrawal processing time.

If you need any further assistance, please see our contact details here.