CMA orders removal of withdrawal restrictions & dormancy fees
The Competitions and Markets Authority (CMA) has ordered Jumpman Gaming and Progress play to stop restricting users’ withdrawals and charging fees on dormant accounts.
The operators have been made to remove both restrictions on cash withdrawals and so-called dormancy fees from their terms. Both operators have formally agreed to do so.
The CMA has said that it will now be easier and fairer for players to get their hands on their funds.
Previously, users at both companies were often forced to make withdrawals in increments. The CMA judged this unfair, since players were unable to access their funds when desired and some would be inclined to gamble with those funds despite wanting to withdraw.
Dormancy fees, whereby the operators used to charge the accounts of users who hadn’t logged into their accounts for an extended period, have also been scrapped.
Speaking about issue, George Lusty, senior director for consumer protection at the CMA, said:
People choosing to gamble online should be able to walk away with their own money whenever they want to. Jumpman Gaming and Progress Play are the first to commit to scrap their unfair withdrawal rules, but we expect companies across the sector to follow suit so no-one gets caught out with unfair terms and conditions when gambling online.– George Lusty, CMA senior director for consumer protection
The CMA began enforcement action in March by writing to a number of operators about their unfair terms, specifically towards withdrawals, forming part of the group’s on-going investigation into the gambling industry.
The CMA has been working alongside the Gambling Commission to create a fairer and safer environment for online players. The Gambling Commission has praised the companies for making the changes and said that it expects other operators to do the same, with those that don’t liable to face regulatory action, saying:
We support the outcome of the CMA’s investigation, and we’re pleased that both of the operators involved have committed to making changes that will make it fairer and simpler for customers to withdraw funds from their online gambling accounts. Gambling firms should not be placing unreasonable restrictions on when and how consumers can take money out of their accounts. We now expect all online operators to review the findings published by the CMA today and ensure they update their own practices.– Paul Hope, Gambling Commission executive director