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Withdrawal process

 

Pokerbuddy365 offers a transparent and user-friendly withdrawal process.

The amount the user chooses to withdraw gets instantly deducted from his pokerbuddy365 account disallowing the user to use that amount for playing.

When you request for withdrawal, firstly the deposit amount will be withdrawn. If the deposit section doesn’t have sufficient balance to match the requested withdrawal amount, the remaining amount will be taken from the winnings.

Minimum allowed amount to withdraw is INR 500

There are no charges/deduction for withdrawing your prize money until  the user is found to be involved in any malicious activity/unfair game-play.

Withdrawal Processing Time

Withdrawals are processed on all days (including weekends).  All the Withdrawals requested/modified before 8 p.m. on all days get processed on the next day. Any request received/modified outside the defined window will get processed the next working day.

Once processed from our end, it usually takes up to 4 hours for the funds to reflect into your bank account depending upon your bank processing speed. Sometimes the payment gets stucked at the bank’s end and may take up to 72 hours to reflect into your bank account.

Your withdrawal may fail sometimes if the receiving bank is having downtime at the time the transaction is initiated. If this happens, the withdrawal may get reversed/failed. In such a scenario, the bank takes 5-7 working days to update the reversal statuses. You don’t need to worry – if the transaction is reversed/failed, the funds will be credited back to your pokerbuddy365 Poker account.

Note: Downtime periods vary from bank to bank.

Document Verification

pokerbuddy365 reserves the right to ask its users to submit their KYC/PAN documents at any point in time. It’s always better to get it done proactively to avoid any delays.

In case your PAN/KYC information is not verified, Please go to My Account and upload the required documents to get them verified.

If your bank details are not updated in our records, please update the bank details after raising your withdrawal request.

In case of any query, please send a mail to support@pokerbuddy365.com from your registered e-mail address

Withdrawal Criteria

You should have made a minimum deposit of Rs.500 in your pokerbuddy365 account before placing a withdrawal request.

The minimum amount that can be redeemed is Rs 500.  You can transfer the entire withdrawable balance into your bank account any time you want.

Please refer to the following table to know daily limit on the number of withdrawals you can make on Adda52 Poker.

TDS Deduction

At the time of withdrawal, ‘Net Winnings’ of more than 10,000 are subject to TDS of 30% and payment to the player will be after deduction of such taxes.

Example:

A user has Withdrawable Balance: 30,000 (deposit 5,000 + winning 25,000)

Case 1:

The user withdraws Rs. 15,000 (5000 Deposit + 10000 Net winning). No TDS will be applicable.

Case 2:

The user withdraws Rs. 20,000 (5000 Deposit + 15000 Net winning). 30% TDS will be applicable on net winning i.e. 30% of 15000.

NOTE: As per the Indian Income Tax Act, every person is liable to pay his due taxes to the government on his own. pokerbuddy365.com is not responsible to fulfill a player’s personal tax-related liabilities in any situation.

In special cases, additional information may be required for a withdrawal to be processed. From time to time it may also be necessary to withhold player winnings until the completion of gameplay or fraud reviews, which are routinely carried out in order to ensure the integrity of our games.

You can always contact us on e-mail us at support@pokerbuddy365.com

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