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Converting dollars to sterling

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  1. #1

    Default Converting dollars to sterling

    I have a few thousand dollars online, but I live in the UK. I have US$ neteller account.

    How do I cash out my money from Neteller without losing a lot of money (ie currency exchange rates, neteller charges)?

    Is it worth opening up a dollar account at my bank? Is there anyway to convert from $ to £ without losing a few % on conversion rates?

    Are there any other UK players around that have had similar problems? What did you do?

    Thanks
    http://pokerlife.wordpress.com/
    18 years old. short-handed $600NL.
  2. #2
    Join Date
    Apr 2005
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    3,548
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    Putney, UK; Full Tilt,Mansion; $50 NL and PL; $13 and $16 SNGs at Stars
    You make as few transfers as possible. There's no way of getting round this - at some point you'll have to convert the money. I believe Neteller's rate isn't bad, but all you can do is compare their conversion rates with those charged by your bank, and then make the transfer at the bets rate.
  3. #3
    Miffed22001's Avatar
    Join Date
    Jun 2005
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    Marry Me Cheryl!!!
    have a $$$$ account with neteller, then you only lose fees on withdrawls (assuming you only withdraw from neteller very little) and then you wont lose on every deposit via neteller to poker rooms.
    If you ask support they may do it, otherwise tell em you want to open a new one (i did this but they may be more stringent now)
    I bank with natwest and was told that you need a minimum of $1000 in a dollar only accout with them and that you would probably have to pay for it.
    However, my daddy has a nice amount with that bank and theyve considered looking into allowing me cheaper options (lower fees/no fees etc) if i keep the money i have with them once i showed them how much money would be moving through the account
    any help?
    p.s dont use hsbc, its like banking with a group of retarded donkeys on smack.
  4. #4
    Join Date
    Apr 2005
    Posts
    3,548
    Location
    Putney, UK; Full Tilt,Mansion; $50 NL and PL; $13 and $16 SNGs at Stars
    Natwest has fucked my girlfriend so many times she's practically a porn star. Fuck Natwest, fuck'em with knives.
  5. #5
    Join Date
    Feb 2007
    Posts
    266
    Location
    Lincoln, UK
    My sis changed her Neteller account from £ to $ a few months back, it took a load of hassle, emails fone calls etc, I cant remeber if she had to close & reopen her account or not, but worth it, for the saving.

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