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silu73
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07-16-2008, 09:33 PM
Post subject: Neteller withdrawals in different currency? I'm confused.
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#1 (permalink)
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Full House
Join Date: May 2006
Location: New Zealand
Posts: 1,009
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I am in process in cashing out some of my roll (for the first time ever) and have contacted Neteller about my options.
So all the options I have is cashing out in AUD, GBP or EUR. That means that they are converting my USD into lets say AUD and then my bank into NZD. It seems like I am getting screwed left right and center.
I am currently asking which exchange rate Neteller is using to convert into the USD into AUD. Tower also apparently could send me a cheque in my local currency NZD and I am finding out what their conversion rate is.
Has anyone here have any experience with withdrawing funds from Neteller/Sites in a different currency and could help me with what the best option is?
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Da GOAT
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Straight Flush
Join Date: Feb 2006
Location: Dublin
Posts: 4,308
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if u go thru the withdrawl process itll tell you the fx rate b4 u confim it
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Jman: every time the action is to you, it's an opportunity for you to make the perfect play.
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Taxi
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Straight
Join Date: Feb 2007
Location: Lincoln, UK
Posts: 226
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Exchange rates for me (Neteller USD ---> Bank GBP) have always been the same as the current days exchange rate. I use http://www.xe.com/ to compare.
I just have a flat $10 fee then.
My bank charges a fortune if I try and pay in a USD cheque though, and they screw me on the exchange rate too.
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Miffed22001
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Straight Flush
Join Date: Jun 2005
Location: Marry Me Cheryl!!!
Posts: 8,181
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odd you mention this. My bankroll is coming off this week and ive said ill pay $100 to remove my money at a fixed fee and no more
No answer as yet but ill post when i get it.
Also, just threaten to move to moneybookers, that'll get their attention if you historically have had a large balance.
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daven
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Straight Flush
Join Date: Aug 2007
Location: soaking up ethanol, moving on up
Posts: 5,819
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did you originally put money on via credit card? you should be able to get it paid back to the same card - 1x currency conversion fee.
I haven't withdrawn from neteller yet - I was moving $ from neteller to poker site to credit card.
An option worth considering is opening up a national bank US$ account - they are basically for FX trading on a low roll - get the money transferred back to that account = no conversion fee, then convert in nz on a good exchange day.
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silu73
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Full House
Join Date: May 2006
Location: New Zealand
Posts: 1,009
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Thanks for the replies.
I always use Neteller to deposit on poker websites. I think most sites have an agreement with E-wallets and the various credit/debit card companies, that when a player deposits through a certain deposit option, they will have to withdraw back to the same option up to the total amount deposited, before the withdrawn amount can go by any other means.
Anyway, I asked Tower what they can do for me. They offered to courier me per Fedex a cheque in my local currency without paying any fees. Their currency conversion rate is better than my bank would give me should I present a USD cheque.
So if everything goes fine then I’m mightily impressed with Tower and they have my custom for many more years. Let’s wait and see how long it takes until I have the cheque in my hand.
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davegrohl
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Join Date: Jul 2008
Posts: 13
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Quote:
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Originally Posted by silu73
I think most sites have an agreement with E-wallets and the various credit/debit card companies, that when a player deposits through a certain deposit option, they will have to withdraw back to the same option up to the total amount deposited, before the withdrawn amount can go by any other means.
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I think you're right here.
So did you get your cheque?
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silu73
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Full House
Join Date: May 2006
Location: New Zealand
Posts: 1,009
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No not yet. Luckily Tower only gave the last deposit back to Neteller which was only $22 (to take advantage of the reload bonus) and the rest apparently in a cheque. I haven't received it yet as my registered address with them is a post box so they couldn't send it per courier.
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chatoman
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Join Date: Nov 2007
Posts: 11
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Hi... heres the thing with Neteller. It is my obvious choice over moneybookers and others because of the Globe Wallet prepaid Card.
I have my account in USD, but there are some sites that works only with EUROS (BossMedia for example), so there is a currency exchange involved there.
The fee they charge you is 1.8% of the total you are moving for "volatility issues"
And when u are withdrawing via prepaid card in any ATM, they charge u U$4 per movement + 1.8% for the exchange rate
Regards
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