Skip to comments.New InTrade Identification Requirements
Posted on 08/13/2012 11:03:21 AM PDT by catnipman
Changes have been made to the money laundering regulations in Ireland under the Criminal Justice (Money Laundering and Terrorist Financing) Act of 2010. Intrade is now legally obligated to know more about our customers and to comply with the customer due diligence requirements set out in the Act we require all current and future Intrade customers to provide the following:
Proof of identity in the form of passport or drivers license (must include photo) Two proofs of address in the form of utility bills, bank statements, recent tax or insurance statements or certificates etc. (must show your residential address, not PO Box numbers)
This documentation can be uploaded securely to our servers HERE.
These documents must be received by 31 August, 2012. If we do not receive this documentation before this date your account will be suspended until the documentation is received.
You may have supplied similar documentation in the past to verify credit card deposits. However, this documentation is no longer valid and you must submit new documentation.
The documentation you supply will be stored in a secure location (both digitally and physically) with access limited to only the Intrade staff required to check and verify the information contained in the documentation.
The Intrade Rules have been updated to reflect these new requirements. IMPORTANT:
The requirements for proof of ID and proof of address detailed above applies with immediate effect for all withdrawals requested by Intrade customers. No withdrawals will be processed unless the required documentation has been received and verified by Intrade. We understand this is may cause delays to the withdrawal process but we appreciate your cooperation and patience while we comply with this legal requirement.
(Excerpt) Read more at intrade.com ...
No such requirements exist to use CCs on one billion OTHER web sites, including PayPal.
Does anyone know what gives here? Personally, it smells real wrong to me.
Here's additional info that couldn't be fitted into the "excerpt":
Your deposit options are:
Debit or Credit Card
Intrade accepts Visa and MasterCard. All deposits are processed using 3D verification (Verified by Visa and MasterCard SecureCode) to protect your card against unauthorised use.
Attention US Customers: If your credit or debit card was issued by a US bank then unfortunately you will not be able to use this card to fund your account. This not the decision of Intrade but due to regulations in the US that restrict what US residents can do with their cards.
Deposit by Card Personal or Cashiers Check
There is no maximum amount you can deposit by check. Intrade accepts personal checks and cashier's checks (known as bank checks in some countries) but we do not accept international money orders.
Personal checks take approximately ten business days to be cleared by our bank. We will clear USD cashier's checks up the value of $500 (one per customer) immediately upon receipt, so this is a good way to funds into your account quickly.
Deposit by Check Bank Wire Transfer
An international bank wire typically takes 2-4 business days to reach us. Your bank will charge you fees for sending a bank wire but we will cover any fees charged by our bank for receiving the funds.
There is no maximum to the amount of funds you can send by bank wire and we recommend this option for deposits over $1,000.
Deposit by Bank Wire
Intrade (and other gambling websites) always banned cards from US banks. It’s the Internet Gambling bill passed by RINO Bill Frist that ended this.
Hmm. I never knew Intrade was an Irish company. Now I know.
My guess... Obumbles knows that intrade is like a poll that people invest their own money and show the true likely outcome of the race. There is no way for liberal pollsters to play games with it by over polling rats.
What this means that this real poll will kill his campaign funding if it shows that money is betting he will lose.
To keep that from being revealed he wants to make it harder for Americans to buy into intrade.
Maybe this change is a result of the huge InTrade spike for Paul Ryan 30 hours before he was chosen. Clearly an insider was making a few bucks with the info.
One thing I like about Intrade is that we try to make a market out of everything, including how many Intraders will provide these requirements.
Maybe this change is a result of the huge InTrade spike for Paul Ryan 30 hours before he was chosen.
***No, the requirement was posted a couple of weeks ago, well before the spike for Paul Ryan.
It looks like Intrade intends to be more diligent with respect to identification for credit card transactions than does the obama compaign.
“It looks like Intrade intends to be more diligent with respect to identification ....”
Or to vote in most Democrat strongholds!!!!