PTC...

[Lasix67]

I really love PTC, especially since they have added some really nice tracks to their menu, but I really wish they could do something with their funding accounts methods. It just takes entirely to long to ACH fund, as much as a week for it to show up.

[dvlander]

I too really like PTC, before and after Ian. I certainly do not fault them for taking on some of the more popular tracks and offering a 2% rebate on them. I personally don't play those tracks with PTC because I have a better option elsewhere. However, why criticize them for offering them? Each player can make their own play or pass decision based on what is offered and what the price is.

In terms of ACH's, I know TwinSpires (and maybe some others) fund ACH's immediately. However, the ADW's take a huge risk in doing so. If they fund the player immediately and wait 2-3 business for their funds to arrive, who is to say the player's bank account will have adequate funds by that time (or maybe they never did have adequate funds).

Let's face it, I really respect the posters on this forum but horseplayers as a group would not be my first choice to lend unsecured funds to. In saying that, I go through the same frustrations as any other player. My results may not be going great, the ADW account runs down a bit on a Thursday, I ask for an ACH and my account is not funded until Monday or Tuesday, after all the weekend action.

Hey, that's life. Look at it this way in terms of an ADW as a business. If they have to eat a $1,000 ACH, they are going to have to have significant handle to earn that back. It's convenient to be immediately funded but I certainly don't EXPECT it based on economic reality.

Dale

[MNslappy]

I agree OP. I tried to put in a deposit Wednesday night and it's STILL not in my account. There's simply no reason for such a ridiculously long delay, especially for customers who have already used the ACH system with them. Three or four DAYS? This is 2009 right? I could see 3 or 4 hours maybe...

I mean listen, I run two e-commerce based websites and cannot even begin to fathom making people wait 4 days before approving their order and sending them their stuff (online). We email their passwords first and THEN run the cards, and sure, you do you get burned sometimes, but that's the price you pay for being fast, which customers demand these days. There's just no excuse here, the funding should be INSTANT. If they get burned, they get burned, every other freaking internet-based business manages to deal with that possibility, why not PTC?

[turfnsport]

Have you tried emailing them after making the ACH?

I have never had a delay of more than an hour.

[rrbauer]

I agree OP. I tried to put in a deposit Wednesday night and it's STILL not in my account.

I read this as two business days. Thursday and Friday. I wouldn't expect my account to show such a deposit. But, as someone suggested, if PTC has a history with your deposits, send them an email request.

[Lasix67]

Just spoke with someone at PTC, (he seemed rather rude). I explained that it was over a week ago that I deposited ACH and it had cleared my bank account four days ago, but still wasn't showing in my PTC account. He went on to say it should take 5 buisiness days and since last Monday was Memorial Day that I should see it show up tomorrow(Tuesday), a week and a half after I placed the deposit. Ridiculous! I've enjoyed PTC for it's rebates in the past, but I don't have to deal with this type of customer service with any of the other ADW's I deal with and I won't deal with this from PTC anymore. I'm freakin done with them and I'm sure I'll get bashed by some of the faithful, but that's OK because at one time I was one of the faithful and now I'm a lost customer of theirs.

[lamboguy]

Just spoke with someone at PTC, (he seemed rather rude). I explained that it was over a week ago that I deposited ACH and it had cleared my bank account four days ago, but still wasn't showing in my PTC account. He went on to say it should take 5 buisiness days and since last Monday was Memorial Day that I should see it show up tomorrow(Tuesday), a week and a half after I placed the deposit. Ridiculous! I've enjoyed PTC for it's rebates in the past, but I don't have to deal with this type of customer service with any of the other ADW's I deal with and I won't deal with this from PTC anymore. I'm freakin done with them and I'm sure I'll get bashed by some of the faithful, but that's OK because at one time I was one of the faithful and now I'm a lost customer of theirs.customer service has gotten on the weaker side of things since IAN is gone. he was the best, i wonder if that was such a wise decision on management's part to let him go

[Pace Cap'n]

Sounds like they might be "playing the float" just a bit. I can not imagine any plausible reason for the deposit not showing up immediately upon clearing the bank, at the latest.

[PaceAdvantage]

So you guys are claiming deposits were QUICKER when Ian was there?

[MNslappy]

I for one am not claiming that. It's always been slow. For me anyway, it has always taken 3 or 4 or 5 business days to see an ACH deposit show up. They're a good platform, but man that's a long time to wait when others can do it instantly. I'm not asking for "instantly" either, but within 48 hours shouldn't be too much to ask I wouldnt think.

[richrosa]

Sounds like they might be "playing the float" just a bit. I can not imagine any plausible reason for the deposit not showing up immediately upon clearing the bank, at the latest.

The use an ACH processor who is releasing funds after a certain time period is passed and the certainty of the funds having cleared. There may be a delay while PTC matches up the deposits (I bet manually). Other ADW's give you an instant deposit after they have done one deposit because in their experience, very few deposits don't clear. The ADW's are taking a credit risk on each and every one of those deposits, at least for a small period of time.

[turfnsport]

In addition, if PTC was not careful and was stuck with a lot of deposits that end up not clearing, who is going to end up paying for that expense in the long run?

We will with smaller rebates.

[rrbauer]

Sounds like they might be "playing the float" just a bit. I can not imagine any plausible reason for the deposit not showing up immediately upon clearing the bank, at the latest.

The problem is that there are two banks. Your bank and PTC's bank. After the deposit by you, it has to be processed by PTC's bank and a withdrawal transaction generated for your bank and transmitted. Your bank gets the transaction and proccesses it to your account. After the transaction clears your account then your bank notifies their bank. Then after their bank is notified the deposit transaction is completed for PTC. But, the funds still need to be credited to your account by PTC and I guess that takes another day.

I'm guessing that PTC makes more money by having you betting the money than by having the money either in limbo or generating overnight interest which these days is practically zero.

One of the biggest problems with PTC since Ian's departure is that issues like these generate no dialogue. By design, (I was told) PTC will not be engaging horseplayers on Internet chat boards.

[startngate]

ACH timing depends a great deal on how the system is set up to do reconcilliations.

Typically the ACH clearing house takes 2-3 business days to process and settle a transaction and notify the bank of the entity receiving the money that the transaction has settled. From the descriptions here I gather that PTC does not release the funds into the customer's wagering account until this happens, as most of the larger ADW's do.

How PTC handles the transaction after approval is what deternines when the amount will show in the customer's balance. As richrosa mentioned, these deposits are each going to have to be cleared manually if PTC is waiting for verifications. The only other thing they could do is set a fixed number of days, assume the transaction had cleared unless they hear otherwise, and automatically release the money.

My guess is they are doing the latter, as some people are reporting here that it is several days after the transaction shows up in their bank account before it is released for wagering. If it is, then they are sort of treating it like a check deposit at most of the other ADW's. Either way, communication to the customers of what to expect is key here. I would hope it's posted somewhere on the site about what the process is for these types of deposits so people know ahead of time.

rrbauer is correct, PTC will make more money letting people bet than trying to play the float, so I can't imagine that's the motivation.

[BigJake]

Guys, I've got to say that all of my experiences with PTC's customer service has been top notch. I joined PTC because a PA member really pushed me there because he was a friend of Ian's. I deposited my first sum about 2 days before Ian resign/was separated (I am honestly not sure which). I was sick because the only face of the company I knew was gone before my deposit even cleared. I spoke with a gentleman name Wes Berman about my ACH deposit that seemed to take forever and he explained the process and made me feel completely at ease. Ian was great because we got to see him everyday. He talked to us and we loved the interaction. I loved the interaction. He made me feel comfortable and I think that's the problem most people see with the new guys. The new guys aren't here everyday and aren't talking to people, but I've got to say that Twinspires isn't here everyday. Betfair (or whatever) isn't here everyday. I just thing PTC is what it is. As of now, that's ok with me. I know if my balance is getting low I need to deposit early, but I get a great rebate and any time I need to talk to Wes I have a number I know I can get a hold of him. PTC is great by me.

[Derbyman32]

I have also been with PTC for a while, with Ian and after, all and all I am satisfied with their service but I do miss the personal touch that Ian offered. I will be staying with PTC and if I have the need for more instant gratification, I can use my debit card and pay the 3.9% handling fee but get instant use of my money. At first I was a little sad to see them take on Churchill (Tracknet) Downs but now I find myself using PTC more then I did before they added the tracknet tracks. The 2% is not that great but I guess in the bigger scheme of things they will probably generate more handle by giving people access to the many tracks that tracknet controls. I still would rather give PTC my business and avoid using the giant Twinspires service. At least at PTC I can talk to them and I feel they appreciate the business and the nice rebates that they give do help to offset some of the other issues.

[dvlander]

Wes has given me his personal cell phone number and said I can call him at any time about any issue even if it's just some general improvement suggestions.

The customer service from my view has been exemplary.

Dale

[MNslappy]

Almost one calendar week now and still no money in my account. And it cleared my bank on May 29th. I know it's gonna show up eventually, but this is simply an unacceptable length of time in the year 2009.

[comet52]

I can't believe all the big winners in here even need to fund accounts... :lol:

I can't use PTC unless they get video. Too much hassle.