Deposit £50 Get $79, Withdraw £50 Costs $85

yankee14

Dormant account
Joined
Mar 7, 2008
Location
scotland
As the title suggests, is this normal?

There is no time delay or exchange rate variance, i went in to withdraw and got charged $85 and then double checked the deposit and it would only give me $79.

Am i missing something here? Or is this normal?

Oh, and they also charged me $2 for withdrawing under $100
 

vinylweatherman

You type well loads
Joined
Oct 14, 2004
Location
United Kingdom
As the title suggests, is this normal?

There is no time delay or exchange rate variance, i went in to withdraw and got charged $85 and then double checked the deposit and it would only give me $79.

Am i missing something here? Or is this normal?

Oh, and they also charged me $2 for withdrawing under $100


It is, it is due to the hidden profit margin when exchanging currency. Rather than using the actual exchange rate, they add a percentage in their favour which is extra profit for the processor. To avoid this when playing poker (most poker sites use the US Dollar), open an eWallet account denominated in US$. This way you will not pay this fee every time you transact between the wallet and the site, but ONLY when you move money between the wallet and your bank, where the conversion from US$ to UK£ will occur.

A UK casino player can usually play in pounds, and there are a few poker sites that use pounds rather than dollars, but as these are UK focussed, the choice of opponent(s) is much smaller.
 

kangamick

Dormant account
Joined
Oct 19, 2004
Location
Australia
It is, it is due to the hidden profit margin when exchanging currency. Rather than using the actual exchange rate, they add a percentage in their favour which is extra profit for the processor. To avoid this when playing poker (most poker sites use the US Dollar), open an eWallet account denominated in US$. This way you will not pay this fee every time you transact between the wallet and the site, but ONLY when you move money between the wallet and your bank, where the conversion from US$ to UK£ will occur.

A UK casino player can usually play in pounds, and there are a few poker sites that use pounds rather than dollars, but as these are UK focussed, the choice of opponent(s) is much smaller.

888 poker use this.

My Moneybookers account is in usd$ and my 888 poker account is in usd$ yet when i deposit they take usd$ out of my account transfer it in Aud$, then back into my 888 account usd$ so $200 deposit costs me $220 :( . Yet the usd$ and aud$ is almost at parity.
 
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