Sorry, it's late, but if I want to withdraw cash on ecopayz, it's pretty hefty given the limits on the ATM, and that my card is in US dollars.
It actually works pretty favourably if I want to shop online in US dollars. Less than withdrawing on the bank machine to make purchases with the credit card here, but not fee free by any means.
So there is a fee to withdraw money from atm machine besides the exchange rate?
The bank whose ATM you are using for the withdrawal is charging a flat fee as it is not their bank/credit card.
Here in Thailand that has recently been raised from 120THB to 200THB, which is appr. 6USD or 8CAD. This can be different from country to country, depends what the respective bank is charging if the card is not from them.
The POS purchases are getting charged with a 1.25% fee. (last time i did that was some 15 months ago, so they might have changed it)
The fee for a bank transfer from Ecopayz to my Thai bank account is a flat 10 EUR and it takes max. 3 business days to arrive. My Thai bank is charging another 10-15EUR, depending on amount received.
Let's take an example:
1. Withdraw at an ATM in the US or Canada
- Your
EP account is in CAD and your
EP card associated to that account is
in USD
- You have 400CAD in your account and want to withdraw 270USD in the US or 350AUD in Canada
- The bank whose ATM you are using will charge you a flat fee, 6USD or 8CAD (usually is displayed on the ATM screen what the charge will be)
- Ecopayz will charge you the currency conversion fee of 2.99% since the account is in CAD and the card is in USD - 270USD * 2.99% = 8USD or 350CAD x 2.99% = 10.50
- Ecopayz will charge you 2% ATM withdrawal fee (min. 1.50USD) - 270USD * 2% = 5.40USD or 350CAD * 2% = 7CAD
TOTAL CHARGES FOR A 270USD / 350CAD withdrawal: 6+8+5.40 = 19.40USD / 8+10.5+7 = 25.50CAD
2. Withdraw at an ATM in the US or Canada
- Your
EP account is in USD and your
EP card associated to that account is
in USD
- You have 300USD in your account and want to withdraw 270USD in the US or 350AUD in Canada
- The bank whose ATM you are using will charge you their flat fee, 6USD / 8CAD
- Ecopayz will charge you the currency conversion fee of 2.99%
only for the withdrawal in Canada 350CAD x 2.99% = 10.50
- Ecopayz will charge you 2% ATM withdrawal fee (min. 1.50USD) - 270USD * 2% = 5.40USD or 350CAD * 2% = 7CAD
TOTAL CHARGES FOR A 270USD withdrawal in the US: 6+5.40 = 11.40USD
TOTAL CHARGES FOR A 350USD withdrawal in Canada: 8+10.50+7 = 25.50CAD
All certainly not free, but much cheaper than using Neteller/Skrill debit cards. As i said i cash-in from the casino a surplus amount to cover for these fees the same like you would usually do when asking for a bank transfer. I just like the convenience to have access to my cash anywhere at any time.
That they charge us bluntly too much is clear to me, after all we are gamblers and everybody in the chain from uploading, depositing to withdrawing is taking us for a ride (speak: taking their piece of the cake) as they know we go through any hoops just to be able to have a punt.
Below a screenshot for the charges: