1 CR. Registered

Withdraw Cash

 

How do I withdraw cash?

  • You can Withdraw Cash at any time by going to My Account page and clicking on Withdraw Cash.
  • You are then asked to enter an amount you would like to withdraw.
  • You can only withdraw an amount less than or equal to your Withdrawable Balance. This will be shown to you on the Withdraw Cash page
  • For making a withdrawal, you need to be ID verified. If you are not ID verified, then on placing a withdrawal request you shall be prompted to upload the latest copy of ID proof. Our customer service team will review and verify your uploaded document. You can also get yourself ID verified by uploading ID proof document from Profile section under My accounts.

 

What is the minimum amount I can withdraw?

  • Minimal withdrawal amount is ₹ 100.

 

What is the maximum amount I can withdraw?

You can withdraw all the money in your Withdrawable Account at any time. The balance in your Withdrawable Account includes all your cash winnings, any bonuses you earned as a cash player as well as any deposited amount you have used for playing cash games.

 

What are Deposit and Withdrawable Accounts and how is the balance in each account calculated?

If you are a cash player on My11Circle, your cash account balance is divided into two Accounts - Deposit Account and Withdrawable Accounts.

Your Deposit Account balance consists of all the amount you have deposited but have not yet played cash games for. Your Withdrawable Account balance includes all your cash winnings, as well as any deposited amount you have used for playing cash games. Every time you play a cash game, the amount used to play that game is credited to your Withdrawable Account.

The Deposit Account balance and the Withdrawable Account balance together make your total Cash balance. You can play cash games on My11Circle with any amount up to your total Cash balance.

Let us see some examples. Assume that your Deposit Account balance is ₹ 100 and your Withdrawable Account balance is ₹ 400 (total balance = ₹ 500) . You make a deposit of ₹ 50 in My11Circle.

The entire deposit is credited to your Deposit Account. Thus, your Deposit Account balance is now ₹ 150 ( ₹ 100 + ₹ 50) and your Withdrawable Account balance remains at ₹ 400. Your total balance is ₹ 550.

 

You play a contest

Let us say you play a cash contest with an entry fee of ₹ 100 and win ₹ 500. The ₹ 500 that you won becomes a part of your Withdrawable Account. ₹ 100 is deducted from your Deposit Account as entry fees. Thus, your Deposit Account balance will now be ₹ 0 ( ₹ 100 - ₹ 100) and your Withdrawable Account balance will now be ₹ 900 ( ₹ 400 + ₹ 500). Your total Balance is ₹ 900.

 

You claim a Bonus

Let us say you claimed a Bonus Chunk of ₹ 50. This will be credited to your Withdrawable Account. Thus, your Withdrawable Account balance is now ₹ 450 ( ₹ 400 + ₹ 50) and your Deposit Account balance remains at ₹ 100. Your total balance is ₹ 550.

 

How can I view my Deposit and Withdrawal Account balance?

You can see your Account Balances in Account Overview under My Accounts.

  1. All payments are sent through Online Transfer facility

    In case of payments through the Online Transfer facility:
    • You just need to provide your Bank Account Number and MICR code in order to enable us to process your withdrawal by the online transfer facility. In addition to these if you also provide your IFSC code, Bank Name and Branch Area, we will be able to process your withdrawal much faster. All these details are only to be provided once as from your next withdrawal request, these details shall be auto-filled.
    • We process Online Transfers on all days except Sunday and Bank Holidays. In case you have provided your IFSC code, Bank Name and Branch Area while placing a withdrawal request, you will receive the withdrawn amount credit within 1-3 days of placing your withdrawal request else it may take up to 5-7 days to credit into your bank account.


  2. Minimal withdrawal amount:

    The minimum amount you can withdraw at any time is ₹ 100.



  3. TDS Deductions:

    As per law, tax deduction at source (TDS) may be applicable on your winnings. TDS is currently applicable at the rate of 30% on winning above ₹ 10,000 and the rate of TDS and/or the exemption limit are subject to changes from time to time as required by law.

      For example:
    • Suppose you participate in a contest with ₹ 100/- entry fee and win ₹ 12,000/- in that contest.
    • Since your net winning in that contest is ₹ 11,900/- (₹ 12,000/- minus ₹ 100/-) which is greater than ₹ 10,000/-, a TDS of 30% will be applicable of the net winning amount (₹ 11,900/-) and will be deducted from the winning amount (₹ 12,000/-).
    • ₹ 3,570/- (₹ 11,900 x 30%) will be deducted from your winning amount and your account will be credited with ₹ 8,430/- (₹ 12,000/- minus ₹ 3,570/-).
    • A TDS certificate will be provided to you 3 months from the winning date, on your registered email address.

      If you have an amount less than ₹ 100 and would like to withdraw, please send us an email at support@My11Circle.com.

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