Resolved Won from casino, lost to Moneybookers :(

[Fleur-De-Lis]

Guess I just need to vent... I had a decent win in my favourite Casino, and got withdrawal in my MB account almost instantly. From then onwards, it was not so cool... First, I seemed unable to withdraw money to my Credit Card registered with MB: though my actual account balance was large enough, MB was showing that I do not have 'avaialble' balance to withdraw. Whatever it means... When I called them and asked for help, I was told to do withdrawal to bank account instead.
Fine, so I did. My account is very old one, and it was opened in USD. Now, though my country joined EU and switched to EUR as official currency, I naturally wanted to change my MB currency accordingly, but found out I cannot. The bad thing is that they use their own conversion rates, and charge EXTRA 1.75% TWO times they convert my funds.
So, I won 1K from casino, and got only 960 from MB. MB took 40 EUR - way too much, for my understanding. I am really upset. I guess I never again will be using MB as my casino wallet....
Sorry if somebody thinks it is a petty complaint, but 40 EUR is a lot of money for me, and I really beleive they should state such huge charges and policies upfront, not tell you after you see the charge and complain...

[Fleur-De-Lis]

I must apologize - my venting post was too hasty after all. Just got response from MB that they agree to let me close exisiting USD account, and open one in EUR, to avoid these horrible fees in future. Though against their terms, they agreed to make exception since I had my account for over 6 years, and in good standing. Nice surprise

[chuchu59]

As far as service is concerned MB is way better than Neteller. I sent them my docs for verification this morning and they replied to me within several hours stating that everything was in order and my limits have been increased.

[jolub]

I live in the US and must use ewalletExpress which charges 10% each way. So it costs you 10% of the money you deposit and another 10% when you want to make a withdrawal. For 1K it would have cost you 100.

[vinylweatherman]

Originally Posted by Fleur-De-Lis

I must apologize - my venting post was too hasty after all. Just got response from MB that they agree to let me close exisiting USD account, and open one in EUR, to avoid these horrible fees in future. Though against their terms, they agreed to make exception since I had my account for over 6 years, and in good standing. Nice surprise

There is no reason this should be against their terms
If the old account is zeroed and closed, and a new one opened, this should not be a problem, although they would have to go through the verification procedures again as it will be a new account. Certainly, where the player's country of residence changes their national currency there should be no question of an account holder having problems following the change by changing the currency of their accounts.

Most of these rules are designed to inflate the fees these eWallets earn. For the players, it would be better to have separate accounts with the eWallet in the currencies they gamble with, such that routine deposits and withdrawals would not keep attracting fees. A fee would only be payable when a withdrawal was made from one of these gambling currencies to the player's bank (if in a different currency), or when one of the gambling currencies needed to be funded (because the player had lost the lot ).

With my bank, I can have several different accounts, it's not a problem, and they run under stricter rules than the likes of Neteller and Moneybookers. Banks even encourage me to keep my balance in the savings partition and allow free and instant movement to (and from) the non-interest paying current account partition. If I get a huge win*, I can park it in the savings account until it is needed to pay bills and buy things, and the bank pays ME for this.


* this does not happen often, perhaps once a year

[Fleur-De-Lis]

Originally Posted by vinylweatherman

There is no reason this should be against their terms
If the old account is zeroed and closed, and a new one opened, this should not be a problem, although they would have to go through the verification procedures again as it will be a new account.

https://www.moneybookers.com/app/faq...l?node_id=1468

Q: I want to change the currency of my Moneybookers account
A: Your currency cannot be changed because your account has transaction history. Do NOT open a new Moneybookers account. This is strictly against our terms and conditions and result in account closure.

P.S. I opted not to use their offer, after all. Instead, I won't use MB with non-USD casinos...

[vinylweatherman]

Originally Posted by Fleur-De-Lis

https://www.moneybookers.com/app/faq...l?node_id=1468

Q: I want to change the currency of my Moneybookers account
A: Your currency cannot be changed because your account has transaction history. Do NOT open a new Moneybookers account. This is strictly against our terms and conditions and result in account closure.

P.S. I opted not to use their offer, after all. Instead, I won't use MB with non-USD casinos...

That term only prevents a change on an existing account. It should not prevent closure of one account, and opening of a fresh one with the desired currency, as there would be no carry over of transaction histories. It's all about the money. They know full well that online casinos operate in a variety of currencies, yet do their best to avoid supporting this for the player, insisting that they nominate one main currency, and then charge highly inflated fees each time a conversion is done. Since this is all notional eCurrency, not "real" money, the only overheads are computer calculations with reference to the exchange rate at the time, so they are reaping a nice 1.75% fee for doing nothing when players use their account with casinos that do not support their nominated currency.

[Fleur-De-Lis]

they are reaping a nice 1.75% fee for doing nothing

You are so right. Exactly. Only it is 1.75% multiplied by two

[lauram]

I know this is a older post but this is where we do come to friends to vent right.
Most of us all have done it and thats what makes this site stand out from others. Safe haven for great news venting and lots of great info.

[Fleur-De-Lis]

Grrr..r..r...
I reallly hate it! This time I ordered withdrawal from MB to my DOLLAR account. Guess what?? They still applied conversion and double-time fees (i.e. converted my USd to EUR, convereted it back to USD, and sent to my USD bank account). I lost almost 80 dollars. Is it fair? I do not think so