OK, i break down the most recent one i had for 250EUR (well, a little over, EP allows that somehow), so you can see how much it actually costs:
- Withdrawal: 10,000THB
- Thai Bank fee: 200THB
Total Withdrawal: 10,200THB
- Ecopayz Exchange rate: 1THB = 0.0267EUR
- Total in EUR: 273,09
- Actual Exchange Rate on 10th March: 1THB = 0.0262EUR
- Actual total in EUR: 267.24
- Ecopayz currency exchange loss/cost: 273.09 - 267.24 = 5.85 EUR
- Ecopayz Charge for withdrawal: 5.46EUR.
Total cost for withdrawal: 5.85EUR + 5.46EUR = 11.31EUR or 16CAD
Sorry, i got it wrong in my previous post by a few EURO as i forgot to add the 200THB the Thai bank is charging and i only saw now that they increased it from 120THB to 200THB, bastards
Now lets say you get a payout from a casino of 2,000CAD:
- 5 x Withdrawals with Ecopayz Card @ 350CAD; Cost: 5 x 16CAD = 80CAD ; 170CAD left in your EP account for your next gaming session
- 1 x Bank Wire: Bank Charge = 30CAD + any currency exchange fees
RESULT: Bank Wire is cheaper as you only have one transaction but it can't beat the convenience of just going to any ATM and withdrawing the cash the minute the casino payout has hit your Ecopayz account. The fastest i had was the last bigger withdrawal from VS, they paid in 9 minutes, another 2 minutes later i had the cash in my hands.
Personally, i am not that much bothered if it is somewhat more expensive or not. If i spend 40-50K / year in casinos looking at a few bucks more or less for withdrawals does look rather silly.
... more important is that i don't wait days or weeks to have the dosh in my hands.
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