Deposits & Withdrawals

Deposits and Withdrawals

  1. Identification Checks
    GXFX.com must successfully receive and verify your identification documents, either via internal means or a third party, before you can make a Withdrawal from your account.
  2. Credit Checks
    GXFX.com reserves the right to run external verification checks on all cardholders with third party credit agencies on the basis of the information provided on registration.
  3. Records
    It is the cardholder’s responsibility to retain copies of transaction records and these Terms & Conditions as updated from time-to-time.

Withdrawals

  1. Withdrawals of funds are subject to fees depending on the payment method used. Clients agree that their withdrawal request will be deducted with GB£20 if the payment method is credit/debit card and GB£20 and 1% of the amount if the withdrawal is requested directly to a bank account.
  2. The Minimum withdrawal amount for bank wire transfer is GB£300.
  3. The Minimum withdrawal amount for credit card transfer is GB£50.
  4. When a client issues a request for a withdrawal, the process will be initiated within 5-7 business days and will result in the funds being transferred by way of:
    1. A refund to the specified withdrawal amount to the credit or debit card from which the member’s account was credited in the first place. Only the original card used to make the initial deposits and a card matching the name of the account holder may be used.
    2. Bank wire transfer to the bank account of the account holder, which again must be the same account from which initial deposit payments were made.
    3. The minimum withdrawal amount and the time that the withdrawal will take to process, are dependent on the payment method selected, as shown above, these time frames are indicative of the regular timescale for internal pay-out confirmation in business days and represent estimates only.
  5. All withdrawals will be processed back to the same payment method used to make a deposit to the account. As outlined, if a financial account and/or credit/debit card has been used to deposit funds, the name registered on the Customer account held with GXFX.com must correspond to the name registered on the financial account/card. In the case of a request to pay funds via Direct Bank Transfer, the acquiring bank account must be held in the same name as used during registration of the Customer account. GXFX.com reserves the right to require the use of the same payment method for withdrawal as was used to deposit, or a specific payment method at our own discretion.
  6. Please note that withdrawals may experience a slight delay due to our identity verification process and certain deposit methods will require additional verification at time of Withdrawal. In the case of a withdrawal being made for the first time, a large withdrawal or changes being made to payment options, we may take additional security measures to ensure that you are the rightful recipient of the funds.
  7. Where applicable, GXFX.com may, at its sole discretion, reverse/refund a Customer’s deposited funds instead of processing a withdrawal transaction via another or the same payment method.
  8. Prior to authorization being given for any withdrawals to be processed, GXFX.com may ask clients to produce additional proof of identity by submitting the required identification documents. The withdrawal will only continue after such documents have been produced – inability to verify identity as required will result in the funds being transferred back to the member’s GXFX.com account. All withdrawals are subject to the standard GXFX.com terms and conditions, which states that completion may require up to 14 business days, or longer in the case of certain billing service providers. It is possible for a client to cancel a withdrawal should they wish to do so, but the cancellation request must be made as quickly as possible following the initiation of the withdrawal request. If the request has been executed and confirmation of the withdrawal has been sent, the withdrawal cannot be reversed. Should multiple withdrawal requests be made by the client, multiple cancellation requests must also be made accordingly should they wish to halt the process.

Deposits

  1. The minimum deposit amount, and the time that the deposit will take to process, are dependent on the payment method selected, as shown in Deposit page. Further, these time frames are indicative of the regular timescale for deposit confirmation in business days and represented estimates only.
  2. In accordance with our anti-money laundering obligations, we reserve the right to raise queries or demand documentation related to the source of the deposited funds. If the provided information and/or documentation is not viewed as satisfactory, GXFX.com may suspend/terminate the Customer’s account and pass on any necessary information to the relevant authorities.
  3. Updating Payment Details
    Updating or adding additional payment details for the sole purpose of making a withdrawal may only be done by contacting Customer Service.
  4. No third-party deposits are allowed.
  5. Error
    Should funds be credited to a Customer’s account or credited to a financial account and/or credit/debit card in error, it is the Customer’s responsibility to notify GXFX.com of the error without delay. Any winnings subsequent to the error shall be deemed invalid and returned to GXFX.com. We reserve the right to withhold all or part of your balance and/or recover from your account deposits, pay outs, bonuses, and any winnings that are attributable to said error.
  6. Refunds
    1. Refunds may be given in case of exceptional circumstances and shall be given solely at the discretion of GXFX.com.
    2. Refund Policy- Clients can, at any time withdraw, or receive a refund. All withdrawals and Refunds are under the conditions of our Bonus policy.
      It is therefore the right of the ompany to refuse a withdrawal of customer funds, IF said requirements have not been met. The Company, can from time to time decide to allow a withdrawal, if it deems fit to do so, but is under no obligation to fulfil this request if the customer agrees to the terms and conditions of the bonus.

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