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  26-Oct-14, 13:47   #1
Pokerstars now charging 2.5% for currency conversions 0 
marqis 

Joined: Sep '10
Location: Netherlands
Age: 48 (M)
Posts: 1631
I just read about Pokerstars not doing currency conversions for free anymore. Anytime while withdrawing or depositing, they now take 2.5% of your money, if a conversion is done...

Effectively they've just confiscated 2.5% of your current bankroll, without giving notice...

I remember Party doing something similar with withdrawing to skrill (0% to 3% overnight).
I thought Pokerstars had more class (or at least tried to appear that way).

Bad things... Angry

Edit: Full tilt does this too, I've just checked.

Edited by marqis (Sunday, October 26, 2014 @ 13:54 GMT)


     
  26-Oct-14, 14:00   #2
  0 
shokaku 

Joined: May '08
Location: Germany
Age: 51 (M)
Posts: 6233
Bad news, but this practice is not that unusual. If you cash out from Skrill or Neteller to your bank account for example, and there is a currency conversion involved, they will charge you too.

     
  26-Oct-14, 14:12   #3
  0 
marqis 

Joined: Sep '10
Location: Netherlands
Age: 48 (M)
Posts: 1631
I know, and can take that into account, but this is without notice. Effectively my bankroll is now worth 2.5% less than last week.

     
  26-Oct-14, 14:23   #4
  +1 
yout85 
Joined: May '12
Location: United Kingdom
Age: 31 (M)
Posts: 2016
How can they possibly get away with this???

They offer a service almost exclusively in a currency from a country that isn't allowed to put money on there, then charge "conversion fees" for anyone depositing or withdrawing in any other currency.... In other words, EVERYONE.

It's beyond a joke. With this and the new reduced FPP rates for UK players, I may as well just give up now Thumbs Down

     
  26-Oct-14, 14:43   #5
  0 
marqis 

Joined: Sep '10
Location: Netherlands
Age: 48 (M)
Posts: 1631
Posted by yout85:
How can they possibly get away with this???

They offer a service almost exclusively in a currency from a country that isn't allowed to put money on there, then charge "conversion fees" for anyone depositing or withdrawing in any other currency.... In other words, EVERYONE.

It's beyond a joke. With this and the new reduced FPP rates for UK players, I may as well just give up now Thumbs Down

It's in their "Terms & Conditions"; they reserve the right to change conversion fees without notice.

I guess we're just "HUMANCENTiPADs" to them...

You can however add a currency to your account. When you buy into a USD game, the necessary conversion is still free. It's just when withdrawing or depositing, they charge you...

     
  26-Oct-14, 14:55   #6
  0 
StheP 

Joined: Oct '14
Location: Serbia
Age: 26 (M)
Posts: 3117
I cant belive it, like they dont make enough money thru the very high rakes,and tournaments now this... they are insaine, I heard they r making like 10b a year and now they want to increase that O.o Pokerstars do you want to lose players, bcs thats how you lose players!!!

     
  26-Oct-14, 15:22   #7
  0 
pinotte 
Joined: Jun '13
Location: Canada
Age: 73 (M)
Posts: 3494
I made a cash out from PokerStars on the 23rd. by echeck and on the 24th. the money was in my account. I just made a verification with what i would have get with a Canadian Bank and i got it from PokerStars. Also no charge for the cash out. I dont know if they changed their policy since.
If i take Canada as example the Bank of Canada have the exchange rate however the banks wont never give the same rate they always take a % for transaction.Dont know if its the same in other countries.

But up to now i cant say a word against the services of PokerStars the best customer services of all sites. Thumbs Up Thumbs Up Thumbs Up Thumbs Up Thumbs Up Thumbs Up Thumbs Up Thumbs Up

     
  26-Oct-14, 15:26   #8
  0 
marqis 

Joined: Sep '10
Location: Netherlands
Age: 48 (M)
Posts: 1631
Posted by pinotte:
I made a cash out from PokerStars on the 23rd. by echeck and on the 24th. the money was in my account. I just made a verification with what i would have get with a Canadian Bank and i got it from PokerStars. Also no charge for the cash out.

I believe they changed it on the 23rd, so you may have just missed it...

     
  26-Oct-14, 17:01   #9
  0 
Heskor 
Joined: May '13
Location: Mauritius
Age: 25 (M)
Posts: 2659
Hmm yeah that is why i always have the same currency on my skrill and on my pokerstars account and all other bookies site, or you can have two skrill account if you premium one with each currency and so on. All mine are Dollars so no worries and no fees , will only incur fees when i cash out to my bank which is in another currency and it is skrill who will get the money , not the poker site and so on. Anyway bad move but try to go for a second skirll account i heard it is possible if you a premium or something!

     
  26-Oct-14, 17:21   #10
  0 
xxxpokerxxx1 

Joined: May '08
Location: Canada
Age: 40 (M)
Posts: 941
changes will be coming and happening,lets not forget pokerstars was sold,so know the new owners need to make up some of the cash they spent buying pokerstars

     
  26-Oct-14, 18:41   #11
  0 
shokaku 

Joined: May '08
Location: Germany
Age: 51 (M)
Posts: 6233
That is the point. Amaya, the new owner, is a publicly traded company. They are in there only for the money. So i expect to see more changes to make more money for the house. Like casino-games.

     
  26-Oct-14, 18:48   #12
  +1 
yout85 
Joined: May '12
Location: United Kingdom
Age: 31 (M)
Posts: 2016
Posted by shokaku:
That is the point. Amaya, the new owner, is a publicly traded company. They are in there only for the money. So i expect to see more changes to make more money for the house. Like casino-games.


Let's see how much money they make when all the reg's jump ship.

     
  26-Oct-14, 18:55   #13
  0 
shokaku 

Joined: May '08
Location: Germany
Age: 51 (M)
Posts: 6233
And jump on what ship? FT? Ongame?

     
  26-Oct-14, 19:04   #14
  0 
yout85 
Joined: May '12
Location: United Kingdom
Age: 31 (M)
Posts: 2016
Who knows... perhaps it's time for a new ship.

Or maybe just time for the new owners of the perfectly fine old ship to just stop FUCKING ABOUT.

     
  26-Oct-14, 19:11   #15
  0 
Skpmorita 
Joined: Feb '14
Location: Tunisia
Age: 28 (M)
Posts: 2076
this is belongs to the complete bullsh1t thread
the new owners will do anything to get their billions they spent on buying pokerstars
they wanna start making profit
so they gonna ruin the site
online poker is going downhill , 888 and party alot of connection problems
stars everything is changing to the worse , full tilt freaking casino games
slots and stuff , are you kidding me ?

     
  26-Oct-14, 19:22   #16
  0 
shokaku 

Joined: May '08
Location: Germany
Age: 51 (M)
Posts: 6233
I guess they will try to squeeze out every single penny they can get away with from the poker-rooms they purchased. And the players are in the TINA trap. There is no alternative to Stars. They have ten times the traffic the next biggest room has.

     
  26-Oct-14, 19:26   #17
  0 
mreid123 
Joined: Oct '10
Location: Canada
Age: 26 (M)
Posts: 204
Why do they even have US currency on there that I find rather weird when no us players can play on It!

     
  26-Oct-14, 19:31   #18
  0 
shokaku 

Joined: May '08
Location: Germany
Age: 51 (M)
Posts: 6233
A long time ago in a poker-galaxy far, far away players from the US of A could play at Stars.

     
  26-Oct-14, 20:15   #19
  0 
Mober 
Joined: Mar '09
Location: Greece
Age: 39 (F)
Posts: 10026
It is like that always. No matter how much money they make, they always
want some more. At least from what i see they kept the fee at 2.5.
Moneybookers and Neteller charge almost 3%, so thats something.

     
  27-Oct-14, 15:30   #20
  +1 
marqis 

Joined: Sep '10
Location: Netherlands
Age: 48 (M)
Posts: 1631
I'm not totally sure about this, but I think you can still get around paying the fee, by adding another currency to your account.

So when depositing or withdrawing, you'd do so in matching currencies, and you can move money between your currency accounts, for free.

I don't know if they let you withdraw in another currency than the one used to deposit though. Why all the hassle, if that's the case? What does it matter where you do the conversion...?

I'll update when I've actually tried it (hope I won't do something inadvertently that gets my account blocked...).

     
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