Bank of America Readies Gambling Accounts For California Online Poker
Posted: March 3, 2011
Updated: October 4, 2017
Bank Of America, in the wake of planned legalization of online gambling in California, plans offering bank accounts for online gamblers
As California moves closer to legalizing online gambling for adults over 21, Bank of America quickly saw an opportunity of possibly becoming the first USA bank that caters specifically to the needs of online gamblers. Bank of America is exploring legal options on ways to create special accounts specifically designed for the needs of online casino gamblers yet still remain in compliance with American gambling laws at the federal level.
Bank of America currently has no-fees accounts well suited for traditional gamblers, but are quickly changing their rules to offer no-fee accounts only when the deposit remains above the $2,000 benchmark. The customer must also make all their banking transactions exclusively online or at the ATM; not use teller services or the customer service number, except for suspected fraud, a charge dispute or a lost card.
BOFA plans to charge hefty fees, of up to $25 per incident, for those who refuse to comply with the rules of the proposed online gambling accounts. There is a strong possibility of other requirement, including investing in some of the banks other financial products. The exact details are yet unavailable of all the possible requirements for a no-fee online gambling bank account, for Californians who may soon legally be able to play online casinos in United States
Online casino players, expect quick online service from their bank of choice, and recently a number of glitches and ‘temporarily unavailable’ notices have been seen on the Bank of America online banking portal. Such notices may create panic with online gamblers who may suspect that the US Government has confiscated their moneys.
BOFA online bank portal has also been excruciatingly slow, with major problems throughout the past two months. Gamblers who play online poker in United States are used to lightening quick connections, and will quickly abandon a bank with a slow and unreliable website. BOFA needs to solve some of these issues, and there is plenty of time, before the possible legalization of online gambling in California will be permitted.
Bank of America currently has no-fees accounts well suited for traditional gamblers, but are quickly changing their rules to offer no-fee accounts only when the deposit remains above the $2,000 benchmark. The customer must also make all their banking transactions exclusively online or at the ATM; not use teller services or the customer service number, except for suspected fraud, a charge dispute or a lost card.
BOFA plans to charge hefty fees, of up to $25 per incident, for those who refuse to comply with the rules of the proposed online gambling accounts. There is a strong possibility of other requirement, including investing in some of the banks other financial products. The exact details are yet unavailable of all the possible requirements for a no-fee online gambling bank account, for Californians who may soon legally be able to play online casinos in United States
Online casino players, expect quick online service from their bank of choice, and recently a number of glitches and ‘temporarily unavailable’ notices have been seen on the Bank of America online banking portal. Such notices may create panic with online gamblers who may suspect that the US Government has confiscated their moneys.
BOFA online bank portal has also been excruciatingly slow, with major problems throughout the past two months. Gamblers who play online poker in United States are used to lightening quick connections, and will quickly abandon a bank with a slow and unreliable website. BOFA needs to solve some of these issues, and there is plenty of time, before the possible legalization of online gambling in California will be permitted.
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