888.com exchange rate stupidity

thelawnet

Dormant account
Joined
Apr 4, 2005
Location
UK
Just trying to get some sense out of 888.com, I went in there to make a deposit, the casino is denominated in US$, but I live in the UK, it says I will be charged in GBP, and there is no option to change this, although you can choose the cashout currency (although I previously had an epic struggle getting Luckyace to honour my selected currency).

The exchange rate for deposits is in the cashier for deposits:

"Rates according to the last business day: US$1.0000=£0.6565"

According to Yahoo! Finance, the last close was at

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US$1 = 0.6304

That's a hefty whack, ~4% worse, and I wonder if they will charge me the other way when I cashout (so total loss around 8%)

I check the 'withdraw' tab and there's no info on the exchange rate, so I try to find out from 'support'.

Here follows the chat log:

Stefanos S.: Hi, my name is Stefanos S.. How may I help you?
[email protected]: hi
[email protected]: what exchange rate do you charge for cashouts to GBP?
Stefanos S.: Welcome to 888casino Live Chat! We are glad to be of service. Please hold a moment whilst I try to locate your 888casino account with your given email address.
Stefanos S.: Please confirm the answer to the security question selected when registering your account.
The security question you chose was:
pets name

[email protected]: no idea
[email protected]: I just want to know the exchange rate
Stefanos S.: In order to be sent a reminder of your security answer, please confirm the following information, as registered to your 888casino account:
1. Your full name.
2. Your full postal address.
3. Your email address.

[email protected]: my postal address is wrong in my account,but the software doesn't let me update it
[email protected]: anyway I just want to know the exchange rate
Stefanos S.: I am sorry I cannot offer any details unless you confirm the answer to the question or the requested details as registered for security reasons
I am really sorry
[email protected]: You can't tell me your exchange rate?
[email protected]: That's not classified data, it's not personal to my account
[email protected]: I just want to know the exchange rate from GBP to US$
[email protected]: can you tell me how I can update my address? I am logged into my account now, it has my old address
Stefanos S.: we not apply any fees
the funds are exchanged automatically as per international exchange rates
I am sorry I cannot offer further information unless you confirm the details
Stefanos S.: Can I be of any further assistance to you today?
[email protected]: I AM ASKING HOW TO CHANGE MY ADDRESS IN MY ACCOUNT!!!!!
[email protected]: please could you tell me
[email protected]: there is no my point in me giving you my old address, I have not lived there for 4 years
[email protected]: and I can assure you that you are taking a cut of the exchange rate
Stefanos S.: the address is changed from cashier , cashout tab , update details option
please understand I cannot assist any further unless you confirm the details
there are procedures that must be followed
[email protected]: ok, I have updated it now
[email protected]: it is <redacted>
[email protected]: is there anything else you need
Stefanos S.: 1. Your full name..
2. Your email address.
[email protected]: my email address is right in front of you
[email protected]: and my name is <redacted>
Stefanos S.: I need you to confirm the address on the chat
[email protected]: it's right there '[email protected]'
Stefanos S.: thank you
Stefanos S.: you will receive a reminder with the answer to your security question
Stefanos S.: in the email address registered
Stefanos S.: Can I help with any other issue ?
[email protected]: I just want to know your exchange rate
[email protected]: when I cash out
Stefanos S.: we not apply any fees
the funds are exchanged automatically as per international exchange rates
your settle currency is set to GBP while your bankroll in in USD
this means that the money you deposit are exchanged in to USD and vice versa
[email protected]: ok, but what exchange rate will you give me, if I withdraw say $1000
[email protected]: how many £ will you send me?
Stefanos S.: we not apply any fees
Stefanos S.: the funds are exchanged automatically as per international exchange rates
[email protected]: I need to know the rate
Stefanos S.: for the given date
Stefanos S.: the rate is changing every day
[email protected]: according to the 'deposit tab', the rate for deposit is US$1 = £0.6565
Stefanos S.: this is a bank matter
[email protected]: no it's not
[email protected]: you are charging me in GBP
[email protected]: and the rate is worse than the bank rate
[email protected]: the bank rate is something like US$1 = £0.63
[email protected]: so you are adding a %
[email protected]: you can see the rate here
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[email protected]: and it is lower than 0.6565
[email protected]: which is why I want to know what I will be charged when I cash out
[email protected]: today's rate, if you will
[email protected]: I believe you are taking the published rate and adding a spread each way
[email protected]: so maybe it is something like 0.61 for withdrawal
[email protected]: but I don't know, that is why I am asking you
[email protected]: hello?
[email protected]: are you able to answer this question?
Stefanos S.: one moment please
Stefanos S.: I can assure you we do not receive any fees
please you should contact your bank to see if they apply any
you can change your settle currency to match the bankroll so you can eliminate the exchange issue
Stefanos S.: sorry for the delay
[email protected]: I understand about fees
[email protected]: but I want to know the exchange rate you will use
[email protected]: The option is there in the cashier under withdrawalas
[email protected]: it says 'Preferred withdrawal currency'
[email protected]: if I select '£', you will need to convert my balance from US$ to GB£
[email protected]: you will do that, not my bank
[email protected]: so it is your exchange rate
[email protected]: so you should be able to tell me what it is
[email protected]: No?
Stefanos S.: The exchange rate is established daily by our bank. The only thing I can do is to send your case to the relevant department and let them contact you back
Stefanos S.: You will receive an answer in 48 business hours
Stefanos S.: With more details regarding this matter
[email protected]: ok, thank you
[email protected]: please let me know the current exchange rate for Deposit from GBP into the casino, and also the exchange rate for withdrawal from the casino to GBP
[email protected]: that is what I require, the two corresponding rates
[email protected]: thanks

(note that I never did give my pet's name....)
 

thelawnet

Dormant account
Joined
Apr 4, 2005
Location
UK
So they just sent me a stupid reply:

Dear Matthew,

Thank you for bringing this matter to our attention and please allow us the opportunity to address your concerns.

The exchange rate you receive when you make a deposit/withdraw is one that is determined on a daily basis and is implemented into our systems. These exchange rates are comparable with the daily commercial rates offered by banks and credit card companies.

Please understand that we can not provide the exchange rates for the next few days as these will change depending on market fluctuation. The rates we use for withdrawals are determined on the day the payment is processed.

Matthew, should you have any further questions on this issue please do not hesitate to contact us again.

I thank you for your cooperation and understanding.

Kind Regards,
Christin R.
Transactions Team
 

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
What I can't understand is why these casinos still use the US Dollar?? No one from USA can play....
 

conker

Dormant account
Joined
Feb 10, 2012
Location
UK
Did that not put you off playing there in the first place? I don't like playing in $$ unless I really need to as I can never be bothered to do the currency exchange in my head when I play.
 
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