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).
Joined: May '08
Location: Germany
Age: 60 (M)
Posts: 6787
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.
Joined: May '12
Location: United Kingdom
Age: 39 (M)
Posts: 2064
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
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
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...
Joined: Oct '14
Location: Serbia
Age: 35 (M)
Posts: 4358
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!!!
Joined: Jun '13
Location: Canada
Age: 81 (M)
Posts: 3700
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.
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...
Joined: May '13
Location: Mauritius
Age: 33 (M)
Posts: 2688
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!
Joined: May '08
Location: Canada
Age: 49 (M)
Posts: 1017
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
Joined: May '08
Location: Germany
Age: 60 (M)
Posts: 6787
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.
Joined: May '12
Location: United Kingdom
Age: 39 (M)
Posts: 2064
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.
Joined: Feb '14
Location: Tunisia
Age: 36 (M)
Posts: 2135
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 ?
Joined: May '08
Location: Germany
Age: 60 (M)
Posts: 6787
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.
Joined: Mar '09
Location: Greece
Age: 48 (F)
Posts: 14196
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.
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...).
