Joined: Mar '09
Location: Greece
Age: 49 (F)
Posts: 14197
If your Neteller account is in USD and you make a deposit to a site that has as main currency Euro do you get charged with conversion fees? I couldnt find any relevant info in Neteller's site and they have stopped some time now the live chat. Any info about this?
Joined: Feb '11
Location: Canada
Age: 41 (M)
Posts: 1660
It depends on the site you're depositing into. Even if Euros are the main currency the site will probably still accept US Dollars (you'll have to ask their support to double check). If they do accept USD then your MB account will be billed in USD and the poker site will convert it to Euros for free (usually, double check to make sure). IF they don't take USD, then you'll have to pay conversion fees for sure.
Joined: Mar '09
Location: Greece
Age: 49 (F)
Posts: 14197
Thanks for the detailed response Arith but you may wanna take another look at the Title of the thread I was asking about Neteller not Moneybookers If it is to pay fees who will charge it? Neteller or the site?
Joined: Oct '09
Location: Portugal
Age: 54 (M)
Posts: 233
I use neteller and they charge fees. But your question made me remember that sometime ago, withdrawing two different amounts from the same house (HP) they charged me a fee for one of the movements and the other one not (Or perhaps they joined the 2 fees on one movement, I don't know).
Joined: Apr '11
Location: Romania
Age: 37 (M)
Posts: 6669
Yes, they definately charge currency conversion fees on all online transactions that require a currency exchange....
Frankly, i'm not sure what the exact percentage but from what i remember it's a bit higher compare to moneybookers, so you may consider doing a transaction with moneybookers this time
In fact, all neteller percentages are a bit higher compared to moneybookers, the only exception is on the moneybookers mastercard you need to pay a 10 euro fee per year for that but on neteller it's free
Joined: Jun '11
Location: Netherlands
Age: 60 (M)
Posts: 434
Posted by Macubaas:
In fact, all neteller percentages are a bit higher compared to moneybookers, the only exception is on the moneybookers mastercard you need to pay a 10 euro fee per year for that but on neteller it's free
The Net+ card charge you 4 euro fee per transaction at an atm macime (or it did 18 mounth ago) been bisy for the last 12 months or so: So have not had chance to use it latly.
Both moneybookers and neteller card are linked to MasterCard so thay can be used allmost anywhere.
I think that none of pokersites charges conversion fee, if someone does it's Neteller. I think you should have both Neteller and Moneybookers accounts - one in USD and one in EUR.
Joined: May '09
Location: India
Age: 39 (M)
Posts: 4873
from what i know all sites charge money whenever currency conversion takes place in compliance with the forex laws. best thing is as kiddie said have accounts in both currencies to save money from unnecessary fees.
Joined: May '08
Location: Germany
Age: 61 (M)
Posts: 6787
Yep. The best option is to set up different e-wallets. One for every major currency you have to use. Makes it difficult to concentrate the roll, but saves those conversion fees.
Joined: Oct '09
Location: Portugal
Age: 54 (M)
Posts: 233
In many places, when we create a poker money account, the sw let us choose the currency we want to manage. So we just need to be carefull when choosing. When we change currency to enter a table, the same conversion rate will be used when you leave the table, so no fees !
Joined: Mar '09
Location: Greece
Age: 49 (F)
Posts: 14197
I found a couple of hours ago that Neteller charges 2.5 % for currency conversion which i think is too much. Having two different currencies with Neteller and Moneybookers is a very good idea. Unfortunately i have already set them to USD. I may ask from Neteler to shut it down and open a new one with Euro
