Joined: Jun '13
Location: Canada
Age: 80 (M)
Posts: 3700
Last night i made another cash out at pokerstars using Marqis recommendation.
I first made a cash transfer from U.S dollars into Canadian they gave me 1.12 and fraction as exchange rate. If i had mde the direct cash out from U.S to Canadian i would have got 1.10 and fraction for a differnce of a bit more than 2%. Thanks Mraqis.
Joined: Aug '14
Location: Germany
Age: 43 (M)
Posts: 766
I have a Dollar account at Pokerstars, but I am from Europe so I would cash out in Euro. You mean I should convert my Dollars in Euros and then cash out? That saves me money?
Joined: Jun '13
Location: Canada
Age: 80 (M)
Posts: 3700
Posted by StS5: I have a Dollar account at Pokerstars, but I am from Europe so I would cash out in Euro. You mean I should convert my Dollars in Euros and then cash out? That saves me money?
How can I convert into another currency?
Just go in the cashier and you will see in the summary in myne i have U.S. CDN. and EU. than you just make the conversion from U.S. to EU.
Joined: Oct '14
Location: Serbia
Age: 34 (M)
Posts: 4358
can I choose amount of money I want to convert, and rest keep in $... For example I have 1000$ on mine account, and I want 500$ to change to euro, and I want 500$ to keep in $... Is this posible?
Joined: Jun '13
Location: Canada
Age: 80 (M)
Posts: 3700
Posted by StheP: can I choose amount of money I want to convert, and rest keep in $... For example I have 1000$ on mine account, and I want 500$ to change to euro, and I want 500$ to keep in $... Is this posible?
Yes no problem you can convert any amount of your bankroll
Posted by pinotte: Last night i made another cash out at pokerstars using Marqis recommendation.
I first made a cash transfer from U.S dollars into Canadian they gave me 1.12 and fraction as exchange rate. If i had mde the direct cash out from U.S to Canadian i would have got 1.10 and fraction for a differnce of a bit more than 2%. Thanks Mraqis.
Good to hear it helped!
I know 2.5% doesn't sound like too big of a deal, but I feel when you think of it in terms of your overall winrate, it can really add up. While we're all trying to improve our game, to get the best return, it would be a shame, to lose it here. There just aren't that many ways to improve 2.5% on your net result, this easily...
Joined: Jun '13
Location: Canada
Age: 80 (M)
Posts: 3700
Yes thanks to you it work. Bu i think that sometime they will notice that its no sense of having two rate and change it. But for now peoples can take advantage.
Joined: Sep '13
Location: Bosnia and Herzegovina
Age: 37 (M)
Posts: 1564
whats up with currency conversions now? is that a new thing, i could swear it used to be in $ for everyone before? or maybe it was just me so i didnt really pay any attention to it but even when cashing out id get my money in $ and not euros. and i used both skrill and paypal and neither asked for any sort of conversions before :o
Joined: Mar '14
Location: Slovenia
Age: 41 (M)
Posts: 255
or maybe conversion happened at skrill or paypal ?
as for skrill its quiet high: For transactions involving currency conversion Skrill adds a fee of between 2.99% and 4.99%** to the wholesale exchange rate we offer.
Posted by Theapple: whats up with currency conversions now? is that a new thing, i could swear it used to be in $ for everyone before? or maybe it was just me so i didnt really pay any attention to it but even when cashing out id get my money in $ and not euros. and i used both skrill and paypal and neither asked for any sort of conversions before :o
or maybe its just some canadian thing?
See http://www.bankrollmob.com/forum.asp?mode=thread&id... For people in the USD, EUR, CAD or GBP countries, you can use the "trick" I described. Others will now pay a 2.5% fee if PokerStars does the conversion (and even more if you let your bank or e-wallet do the conversion).
Joined: Mar '14
Location: Japan
Age: 50 (M)
Posts: 8946
Setting up multiple multicurrency bank accounts (in your country of residence) that can be linked to and matches to your default currency of the online poker site (as well as that of the payment processor of your choice) might help you to avoid excessive FX fees.
Edited by Tony_MON7ANA (26 November 2014 @ 12:24 GMT)
Posted by Tony_MON7ANA: Setting up a several multi currency bank accounts (in your country of residence) that can be linked to and matches to your default currency of the online poker site (as well as the payment method of your choice) might help you to avoid excessive FX fees.
If you keep or spend that money in USD, and never need it in your own currency, then sure, but as soon as you get your bank to do a conversion, you'll pay (many banks charge a 5% fee for this). Also banks will charge a monthly/yearly fee for such an account, which might end up costing you more than the conversion...
Probably most of us, would ultimately need the money in our own currency, at one point. Pokerstars was unique (and remains so if you use the "trick" ) for not charging a fee for currency conversions.
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
yeah thx marqis once again, such a simple and elegant solution hope that stars won't close the loophole (but seeing the new owners greed it looks like it's only a matter of time). still if one has a skrill account in other currency than usd it's a must to do the conversion in the stars cashier before withdrawal to skrill.
Posted by pochui: yeah thx marqis once again, such a simple and elegant solution hope that stars won't close the loophole (but seeing the new owners greed it looks like it's only a matter of time). still if one has a skrill account in other currency than usd it's a must to do the conversion in the stars cashier before withdrawal to skrill.
I think Pokerstars are completely aware of this. On the 2+2 forum it is widely discussed. If you think about it, Pokerstars won't care too much, as the vast majority of players won't know about it, or do not live in a GBP, EUR or CAD country...
Joined: Sep '13
Location: Bosnia and Herzegovina
Age: 37 (M)
Posts: 1564
Posted by marqis:
Posted by Theapple: whats up with currency conversions now? is that a new thing, i could swear it used to be in $ for everyone before? or maybe it was just me so i didnt really pay any attention to it but even when cashing out id get my money in $ and not euros. and i used both skrill and paypal and neither asked for any sort of conversions before :o
or maybe its just some canadian thing?
See http://www.bankrollmob.com/forum.asp?mode=thread&id... For people in the USD, EUR, CAD or GBP countries, you can use the "trick" I described. Others will now pay a 2.5% fee if PokerStars does the conversion (and even more if you let your bank or e-wallet do the conversion).
dam, thats ... f#ing money hungry donkeys.
and whats up with new owners, thats also new to me.. but looks like this thing was new owners doing too? if so, ps future doesnt look so bright, ffs 2,5% is huge in poker terms what the f#// were they thinking
